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Finance

Money under the mattress: finding funds from your home

Money under the mattress: finding funds from your home

Money under the mattress: finding funds from your home

In the modern world, most people have less than perfect finances. With the expense of living, jobs paying less than they used to, and housing being so pricey, it can be hard for people to get enough out of their salary. In this case, life is a challenge and will be very hard for you to manage. But, it doesn’t have to be this way. Instead, using your home, you can find ways to give yourself a good windfall, taking away some of the financial strain you feel. To help you out with this, this post will be going through some of the best ways to make money out of your home.

  • Giving Away A Slice

As the kids start to move out and space starts to open up in your home, the possibility of hosting a lodger becomes a reality. Of course, you won’t want this with young kids, so, for some, it might not work. Without a young child, though, having a young professional live in your home won’t impact your life that much at all. In most cases, lodgers will pay good rent for the place you give them, especially if you’re willing to provide food to them.

For people with young kids, the issues with hosting a lodger will probably be clear. Of course, though, this doesn’t mean that you can’t downsize. By moving to a smaller property, you can rent your current home to someone else. While they live there, the rent you pay will be covered by the rent you receive, leaving a little bit for you. This sort of action has to be taken very carefully, as it can be easy to lose if you’re not careful.

A lot of people will need a little bit of help to carry out action like this. Thankfully, in most cases, an estate agent is all you should need to be able to get started with something like this. They will be able to handle all of the paperwork while making the transaction nice and simple.

  • Using It As Collateral

In some cases, it can be better to keep the space you have and give away some of the equity from your home, instead. One of the best ways to do this is through home owner loans. This sort of option uses your house as a guarantee for the loan, making it easier for the banks to trust you. Along with this, this sort of loan is very easy to apply for, as you don’t have to go through the same vetting as a regular applicant.

Of course, though, in some cases, you will need a lot of money to be able to get on your feet. In this position, it can be worth sacrificing a large part of your home. A remortgage can achieve this for you, as long as you’re not too old to pay back what you owe before you leave work. A lot of people find this method extremely helpful, as it can be done very soon after taking the initial mortgage.

Making a decision like the ones above is never something which can be taken lightly. So, in most cases, it’s a good idea to get some help before you start. Your bank will be a good place to begin, as they will be able to provide you advice for free. For some, though, looking for professional help could be a better way to get the support you need.

  • A Clean Out

When bills are stretching the bank and you’re struggling to make ends meet, even a small boost could be enough to help you out. Though you may be attached to them, the unused items around your home could be plenty to fill your gap. You can start by looking for things of high-value which don’t get used very often. For example, an old music player or other electronic gadget. Then, you can start to look for some ways to sell it.

eBay and other auction websites can be the best to help you if you want to sell quite a few items, as they make it very easy to manage. Alongside this, though, you could also use a social media marketplace, like Facebook’s local sales tools. Using options like this will expand your reach and be much more effective than selling to customers in the flesh.

Hopefully, this post will give you a good idea of what can be done when you’re trying to find new ways to make money from your home. When you have a resource like this, you have a lot of potential behind you. To learn how to use it, you just have to do some research.

***Collaborative post***
Finance

Buying Our First House

Buying Our First House

Buying Our First House

We have been married now for sixteen years come August, we have three beautiful teenage boys and have always been a working family but the timing for buying our first house has never been right.

We have lived in our housing association three bedroom house since 2003, we exchanged to move here from our two bedroom council flat – we was very lucky.

Since living here we have done so much to the house to improve it and make it more homely, we have put in a new fitted kitchen and bathroom, added a conservatory and even paved both gardens to make it more pet friendly for Buddy our German Shepherd dog.

The timing hasn’t really been right for buying our first house until now – the house is now comfortable to how we want it and now feels like home – a home that we really want to buy. This is the house all three boys have grown up in, these walls hold so many happy memories.

We did look into trying to buy our house a few years ago but due to the (right to buy) law at the time it came back as a big fat NO!

Now due to recent law changes some people are now being given to right to buy their property if they wish so we recently looked into buying our house again and was totally shocked when they said YES, yes we will be happy to send you out the application pack needed.

Things are now starting to look up for us, we still have a long way to go but we are now a step closer than we was last year and we are keeping positive. We now have an application pack being sent out to us and all the relevant paperwork out to apply to be homeowners……Eeek exciting times!

Looking back to the very first time that we phoned to ask if we had the right to buy our property, in a way we are glad they said no because Ian was then working for a family run business and the boss never paid regular, we went from week to week not knowing when the next payday was or even worst still we never knew how much for. This wouldn’t look good on a mortgage application now would it?

It was a financial struggle and yes bills mounted up but he kept the job because it was a job and they are hard to find nowadays aren’t they?

Things are now different, I have been in a secured job now for a good few years and Ian has since changed jobs, he is now working for a very stable company that has been going for years. This company pays Ian on a set date each month without fail, now this has got to look much better for when applying for a mortgage hasn’t it?

With us both being in a steady job that we’ve been in for a few years now, bills have always been paid on time, we don’t have any rent arrears and we have means to show we can afford a mortgage and have means to pay on time each month.

So looking back – no the timing would have been completely wrong for us to apply but we have worked hard to get to where we are now the main thing we done was financially planned to get to where we are now, that is to be stable enough to be able to apply comfortably for buying our first house.

Your credit report holds all the cards as to whether you will be allowed the credit needed, so having a good credit rating is very important as it is used by lenders to determine how much of a risk you are to loan too. Do you check your credit score? we have been keeping a close eye on ours over the past few years. Credit score checks are used by most lenders, this can be for loans, mortgages, car finance, credit cards and so on.

Ways you can financially help yourself.

Financially plan if you wish to buy something.

Try and avoid getting into bad unessersary debt if possible.

Keep on top of all your bills. Paying on time shows you’re a good trustworthy person to lend to.

Keep an eye on your credit report and try to fix any problems that may show up.

Register on the electoral roll.

Try your best to avoid getting loans.

Keep a check on your outgoing’s, it is so easy to overspend.

Don’t abuse any credit that is available to you.

Are you looking to renew your car? take a look at Stoneacre Car Finance they offer great options ranging from interest free to low payments, also a no deposit car finance offer.

Buying our first home

Finance, Savings

Making Christmas Easier

Making christmas easier

Saving To Make Christmas Easier

Christmas for all of us is an expensive time of year, we dread it but look forward to it all at the same time. We dread it for the stress it causes, worrying about the expense and what to buy people and hope the gifts are right for that person. We also look forward to Christmas for many of reasons. This year we plan on making Christmas easier.

Each year we keep saying that we will budget better for Christmas to help minimise the stress a little but have never gotten round to doing so.

This year it is one of our New Years resolutions, budgeting for things will be in our top MUST DO things this year. We have big things hopefully happening this year that we hope to share with you all very soon.

We will be making Christmas easier by sticking to this savings plan.

   Christmas saving plan

For every week of the year we will add £1 in a pot.

Week one we will add £1.

Week two we will put in £2.

Week three we will add £3 and so on. Each week will increase by £1.

If Our Maths Is Right Then:

If  we have done our maths right, by Friday 9th December we will hopefully have £1,275 that is with us starting today (01/01/2016) we thought today would be a good day as any to start. Finishing on the 09/12/16 would give us plenty of time to get gifts for everyone.

We chatted over Christmas while we was home and altogether about trying Christmas in a different way this year and came up with this payment scheme and action plan. So instead of putting the money on the gifts and online ordering the money owed to the pot that week will go into the pot and we will do the gift shopping together in one go. We have never done Christmas shopping like this at all but we are keen to give it a try.

We are trying out the new Christmas savings and shopping idea because we are parents to teenagers who like to keep changing their gift list at last-minute and people suddenly treating themselves to gifts we had already bought and wrapped up for them, so with this new idea we have in mind this shouldn’t be a problem this year. We will keep an eye out on the sales and will also have a rough idea on what to get for people but will not purchase until late December to save from any last-minute changes.

Do you normally put money away throughout the year for Christmas?

Do you online shop or do you like to go to the shops direct?

family, Finance, Savings

Top Tips For Saving Money As A Family

Top Tips For Saving Money As A Family

Family Money Saving

When your family grows to include little ones, the amount of disposable income you and your partner will have will seriously dwindle. Kids take up so much of your money, and without even realising it, sometimes! From school trips and uniforms to days out to keep them occupied, it all adds up and, if you’re not careful, your finances could be hugely affected.
There are plenty of ways in which you can save money as a family, though. If you cut costs in certain areas, you will have more cash to spare at the end of the month. Here are a few ways to start saving:

Affordable Uniforms

Head over to the George school uniform shop to kit your kids out with all of their back to school essentials. Avoid buying from specialist uniform suppliers, because you’ll end up paying a premium for gear with school emblems emblazoned on them. Most schools are happy for pupils to wear cheaper items, as long as they’re the same colour as their uniform requirements.
Shop wisely, and keep an eye out for any offers and discounts, and your money will go much, much further.

Meal Plans

With a little forward planning, you can save a bundle on your weekly shop at the supermarket. Make a list before you go to the shops so that you know exactly what you need, and don’t deviate from it – not even a teeny bit!
Sit down and create a meal plan for the week so that you know what ingredients you need to provide meals for all the family. This way, you won’t waste anything and you won’t spend on things that you don’t need.

Walk

It’s far too easy to just jump in the car and ferry the kids around to the various places they need to be. Whether it’s the school run, a trip to the local soft play or a visit to their friend’s house, if it’s nice weather, walk instead! You’ll save a bundle on petrol and car maintenance fees, and you’ll feel better and healthier, too!

Free Activities

Spending time as a family doesn’t have to cost a fortune. When the weekends arrive, you can visit attractions that don’t charge high entrance fees. Museums, country parks, forest walks – the list of free things to do is huge, and will mean you can keep your cash in your pocket for a bit longer!

Save Energy

This is one that every family member can contribute to. By being a little more conscientious when using electricity and gas, you can save a fortune on your energy bills. Turn the thermostat down by a degree or two, especially during the summer months, and turn off lights and appliances when not in use.
Saving money as a family can easily be done if you know how. The smallest savings soon add up and, before you know it, you’ll have more disposable income to play with. Holiday fund, perhaps?

*Collaborative post*