September 20, 2019, 6:36 am

Student Budgeting Strategies to Get You Started

by: The Financial Blogger    Category: Uncategorized

Being a student is hard work. There’s a lot of pressure on you to learn new things, achieve your goals, and even discover what you want to do with your life. At the same time, you’re struggling with the fact that you barely have enough cash in your wallet to make ends meet. It’s no wonder that countless students turn to personal loans on top of their educational loans to help them manage their expenses.

The good news is that being a student doesn’t have to be a nightmare. It can actually be one of the most exciting and fulfilling experiences there is. All you need to do is figure out how you’re going to use your money effectively. Here are a few tips to get you started.

1.    Make an Early Start on your Credit

It sounds strange, but during those early years when you’re borrowing for the first time, it’s a good idea to make sure that you’re taking steps to protect your credit rating in the future. Start by setting up a direct debit to ensure that you pay everything on time, and make sure that you’re signed up with any free services that allow you to keep an eye on your credit score.

The faster you start building your credit now, the easier it will be to get support and credit in the future, even with your student debt hanging over you in the years to come.

2.    Know When to Buy in Bulk

When it comes to things like toilet paper, rise and even pasta, it’s always better to buy in bulk. While it might be a bit of a pain to carry 50 rolls of kitchen roll home with you after a long day of studying, the last thing you want to do is pay extra for something that you’re going to be using all of the time anyway. Figure out what you’re going to be buying a lot of and look for ways to get a great deal.

If you’re living in shared accommodation with other people, you might decide to go in together in bigger bulk purchases and split what you buy between you. This can save you a fortune over time.

3.    Shop Later in the Day

Speaking of shopping, when you go to buy food for you and your housemates, consider going later in the day, after some of the crowds have died down. This will be probably a better option for your schedule anyway. What’s more, it will give you a chance to nab some last-minute discount on food that’s still good but might not be suitable to keep on the shelves for much longer.

Just make sure that you cook any of the items that you do buy before their best-before date or put them in the freezer if there’s still time to do so that you can help the food to last for as long as possible. Don’t be afraid to pay less for bruised fruits and veggies too – they can make a mean soup.

4.    Make your Meals in Advance

When you’re cooking, avoid making one meal at a time. Usually, it’s much easier to make a bunch of meals at once and freeze what you don’t need straight away. This will help you to use up ingredients before they use their value, and it also means that you have some quick and easy food to turn to when you’re exhausted after a particularly long day of studying.

Remember, making your meals in advance will also help you to save some cash by ensuring that you’re less likely to order food or eat fast food when you’re tired. You’ll already have the meals ready and waiting for you, after all.

5.    Always Look for a Deal

Finally, there are plenty of great ways for today’s students to save some extra money if they’re willing to look for them. For instance, you can find discount and voucher codes online for almost anything these days, particularly if you’re willing to download browser plugins and applications that automatically check for offers when you’re shopping.

Additionally, there are plenty of survey websites out there that will pay students a bit of extra cash to answer questions about their favorite products and services. You could even make a little extra money by signing up to a cash-back website. You won’t make a fortune from cash-back, but you will save a little bit of money on every purchase.

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September 18, 2019, 8:10 am

What Are the Basic Requirements for Obtaining Loans in Ontario?

by: The Financial Blogger    Category: Personal Finance

Many people are surprised at how many options for financing are available today. This is especially true for people who don’t have much in the way of established credit or are currently rebuilding damaged credit score after experiencing some sort of financial reversal. What does it take to obtain personal loans in Canada or other types of loans? While there are some variants between lenders, the following qualifications are often applicable.

Image by InspiredImages from Pixabay

You Must Be of Legal Age

Typically, no individual who is under the age of 18 is able to obtain financing without the help of a co-signer. A parent or other relative who is willing to sign the loan with you will work if you are underage and want to finance something like purchasing of a vehicle. Your co-signer would be responsible for repaying the loan if you were to default.

Keep in mind that not all lenders will extend financing to those under the age of 18 even if someone is willing to co-sign the loan. Before submitting an application, it never hurts to ask about the lender’s policy on this point.

Residents of Canada Only

People who are residents of other countries are usually not eligible to receive financing. You will need to confirm that you are in fact living in the country before your application is considered. There are some lenders who offer what’s referred to as “New to Canada” financing. This type of lending arrangement is targeted towards those who are seeking to become permanent residents rather than those who are temporarily living in Canada.

If you’re not sure that a lender would consider you to be a Canadian resident, outline your circumstances, including if you are seeking citizenship or plan to remain in the country with the proper documentation for several years. The lender will determine if you can be eligible for a loan based on those factors.

You Must Have a Verifiable Bank Account

It’s essential that you have a bank account that the lender can check and determine that it’s active and in good standing. This is important for two reasons. First, the funds from an approved loan may be deposited directly into that account. Second, even if the funding goes directly to an automobile dealer or some other type of creditor, the lender wants to know that you have a bank account that will be used to remit installment payments on the loan balance.

Different lenders will require various types of information in order to confirm your active bank account. Some may be happy with a copy of your most recent bank statement. Others will collect basic information about the account and then contact the institution directly. Once the bank confirms that you do have an active account, you meet this qualification.

Proof of Your Identity

Be prepared to provide documentation that confirms your identity. This may be in the form of a driver’s licence, some type of government-issued identification that includes your image, or even a picture ID confirming you are currently a student at one of the universities in Canada. There are some lenders who would accept an employee-related picture ID, provided there is other data that helps to ensure you are the person that you claim to be.

Verifiable Sources of Income

Many people assume that the only source of income that lenders will consider is a steady full-time job. In fact, it’s not unusual for lenders to consider multiple sources of income other than wages and salaries. When you approach lenders about the qualifications for Ontario loans, ask for examples of what income sources they accept.

What are some of the more common income sources that lenders accept? Along with income from your job, money from pension funds, federal and provincial benefit programs like the Guaranteed Income Supplement or Compassionate Care Benefits, and monthly disbursements from trust funds are likely to be accepted.

One key to using various sources of income to meet the lender’s qualifications is making sure those funds are directly deposited into the bank account that you’ve provided. Proof of direct deposit, along with the amount of the monthly benefit or income, will often be what you need to give the lender a reasonable sense of security that there is money to help you make those installment payments.

Documentation to Confirm Your Permanent Residence

One final requirement that most lenders need is confirmation of your permanent address. This can be in the form of a utility bill, credit card statement, or some type of tax form. If your living arrangement comes with utilities included in the rent, a letter from your landlord confirming that you do in fact live at the address provided will often suffice.

Keep in mind that some lenders may or may not place emphasis on your current credit score. Some lenders are willing to work with people who have experienced credit issues in the past and are currently working to regain their good credit ratings. If the first lender you try does not work out, don’t hesitate to try a different one. Your efforts have a good chance of paying off in terms of getting the money you need and adding a positive reference to your credit reports.

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August 29, 2019, 8:43 am

Things you need to know to develop your risk management skills

by: The Financial Blogger    Category: Investment, Market and Risk

Are you making a consistent profit in the Forex market? Do you want to become a profitable trader? If so, you must learn to trade the market with proper risk management policy. Becoming a successful trader is not all hard. If you learn to trade the market with managed risk, it won’t take much time to develop your trading skills. Instead of executing random trades, you need to develop a balanced trading strategy. Even after having the perfect trading system, the rookie traders in Singapore often find it hard to make a profit from this market. This is where the term risk management policy comes into action. In this article, we will highlight some of the major issues which will help you to master the art of risk management policy.

You are not in war

The first thing which you need to understand trading is nothing but a business. If you declare war against the currency market, it won’t take much time to blow up your trading account. Being a rookie trader you have to follow the proper rules and trade the market with discipline. Instead of trading the market against the major trend, you need to trade the market along with the trend. Trend trading strategy is one of the most effective ways to reduce your risk exposure. To trade the trend reversal, you need to have extreme knowledge of the technical and fundamental sections of this market. So, trade with the major trend if you want to make a profit from this market.

Reduce your risk exposure

Managing the losing trades in the exchange traded funds industry is one of the most complex tasks you will ever face. It’s very hard for human beings to embrace losing trades. Most of the time the rookie traders start taking excessive risk after losing a decent portion of their investment. Being a currency trader, you should have zero emotional attachment. Try to trade the market with proper logic so that you can make the right decision. Forget about the aggressive trading strategy and focus on conservative trading technique. No matter which trading strategy you follow, never risk more than 2% of your account balance. Push yourself to the edge so that you get better at trading over the period.

Be prepare to lose trades

To follow the risk management policy, you must learn to embrace the losing trades. Losing trades are inevitable. So, if you trade the market intending to embrace the losing orders, trading will be easier. Things are not all complex but the novice traders always find a way to make things complex. To master the art of trading, you must trade the market with logic. Write down your trading rules and follow the things properly. After doing all the math, you will still have to lose money. Consider the losing trades as your business cost and you will eventually get better at trading.

Trade with a high-end broker

Those who are trading the market with a low-end broker will have a tough time to manage the associated risk factors in trading. Being a rookie trader, you have to understand the fact, trading is more like finding a needle in the hay. So, without having access to a premium broker like Saxo, chances are very low you will become a successful trader. Learn the use of SaxoTraderPro platform so that you can make the best decision in each trade. Forget about the complex trading strategy and try to create a simple method to find the best trades. Become a student of this market so that you can keep yourself tuned with the latest market dynamics. No matter what, never risk any amount which you can’t afford to lose. And never break your trading rules to recover the loss.

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August 14, 2019, 8:55 am

More Value for Your Money: Finding Your Ideal Office Space

by: The Financial Blogger    Category: Uncategorized

To fulfil its maximum potential and the success you’ve no doubt been thinking about for a long time, your business needs the right environment. Just as a tree can’t grow in a plant pot, your enterprise can’t grow without the right office environment.

You may be working from home, leasing a small office which you’ve outgrown or even looking for premises to buy, but your dilemma will be the same. How do you find the ideal office space while still getting value for your money? There are plenty of options out there to choose from, but not all will be suited to your budget and business model.

Co-working Spaces

Co-working spaces offer the most flexible offices for start-ups, small teams and freelancers to work in a more professional environment than their spare room or the local coffee shop. Depending on the co-working space you choose, you may be able to rent a desk in a co-working space on a pay-as-you-go basis (known as ‘hotdesking’) or can pay for a certain number of days per month depending on your budget.

For people who work alone a lot, these spaces can also offer great opportunities for networking and brainstorming with likeminded professionals. From coworking space London, to towns and cities across the UK, you will be able to find a co-working solution to suit you.

Sub-let Office Spaces

For businesses looking for their own separate premises but which aren’t prepared to commit to a lengthy lease, a sub-letting arrangement may appeal. If you can find a business which is already leasing premises but has office space to spare you may be able to take on a lease for a shorter period of up to a year. You need to be sure that the business you’re leasing from has permission from the landlord to do this.

Lease Your Own Office Space

If your business is unlikely to expand in the foreseeable future and you have the financial stability, you could take out a lease on your own premises. This is an important decision, so make sure you’ve considered all the pros and cons of leasing before committing to a long-term lease of 5 years or more.

Make Sure You’re Getting Value for Your Money

Before you commit to an office space, you need to ensure that you’ve asked all the important questions about the facilities and the surrounding area. If you don’t ask now, you could find yourself paying for office space which is incompatible with your operation.

  • Are there any issues such as broken lifts, heating and air conditioning or other problems you should be aware of?
  • Is the location easy to access and are there amenities nearby?
  • Are there parking facilities onsite or nearby for employees and visitors?
  • Does the building give off a professional image from the outside?
  • Will your employees and clients be able to comfortably use the space and does it offer enough recreational space or flexibility?
  • Are there any extra fees or hidden costs you’ll have to pay such as utilities, building maintenance, parking or refuse removal?
  • Will you be happy to go to work there every day, and proud to show the premises to employees, suppliers and clients?

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July 26, 2019, 8:35 am

Benefits of Using Pallet Racking for Businesses?

by: The Financial Blogger    Category: Uncategorized


Pallet Racking is a collection of racking components placed in a fairly simplistic way. It doesn’t include any complicated storage systems. They are just adjustable racks placed in a specifically customized manner to suit the businesses’ storage requirements. These racks are accessible from either side by a forklift or a pallet stacker. Pallet racking is not new; it’s been around for many years now. Most warehouse storages that still do not use pallet racking store their products horizontally for easy access as a result of this the storage buildings have to be expanded outwards to accommodate more materials, and this sky rockets the costs and accounts for inefficient use of space. This is why most businesses today, big or small irrespective, use pallet racking system for storage of their goods. Many a times, people argue that in case of small businesses is this system really required? The simple answer to that is yes, most definitely. It is much more important in case of a small business as this one aspect that provides a small business the competitive edge that it is looking for to lower its costs and thus price its product more efficiently. Because at the end of the day consumers always go for products that are cheaper in price. You can find pallet racking in Walsall on WSSL site. Some of the advantages of using this system are:

Efficient Use of Space

It goes without saying that by using a pallet racking system your storage space can be fully utilized. By stacking items on racks that reach to the ceiling, you can use your upward space more efficiently.

Fewer Errors in Stock Checking

With this system, performing stock checks becomes easy peasy. Inventories can be done in lesser time and the data you collect is often more accurate as a result of everything placed in a more organized manner the chances of errors are negligible.

Improves Goods-In and Goods-Out Deliveries

With the pallet racking system, jobs get done much quicker. Goods-in and goods-out can be processed and stored in a single operation without the need to unpack everything and repeated to-s and fro-s. This saves time and prevents choking points in your system.

The pallet racks are just a one-time cost that the business has to incur and that too isn’t very high but the benefits of it can be reaped for years to come. Therefore, going for a pallet racking system for the storage of your products is a smart idea and the advantages of it far outweigh the one-time cost.

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