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For most people, one of the biggest monthly expenses they need to pay for is housing. Because of this, many are also looking for any way that they can reduce these costs so they can have more money to spend on other things.

If you own your home, one great way to reduce your mortgage payments each month is to refinance. However, this isn’t necessarily the best option for everyone. So to help you determine if this will be a good path for you to go down, here are three things to consider before choosing to refinance your home loan.

How Long You Plan To Stay In This Home

The length of time that you’ll be living in your home after your future refinance will play a big role in whether or not refinancing is a good choice for you.

According to Sarah Davis, a contributor to Money Under 30, if you don’t plan on being in your home for at least a few more years, you might not break even after your refinance. Between the potential fees and other costs, it might take a while for you to see any value from refinancing. Because of this, you should be sure that you’ll be staying in your house for at least another few years prior to going through the trouble of refinancing, in general.

What Refinancing Will Cost You

Before you decide to refinance, you should also consider what it’s going to cost you financially to do so. Many companies offer different rates and promotions for refinancing home loans, so the costs can vary drastically.

To help you with this, Tri Nguyen, a contributor to Forbes.com, shares that you can generally expect to pay about three percent of your loan amount to refinance. In addition to this, there may also be third-party costs, taxes, settlements, appraisals, and more. So before you commit to this, make sure you know exactly what it’s going to be costing you.

If You Want A Cash-Out Refinance

Getting a lower monthly payment isn’t the only reason why someone might choose to refinance their home. For many people, getting a cash-out refinance could help to make their lives easier as well.

According to Libby Wells, a cash-out refinance allows you to take out your new loan for more than you need in order to get some cashback and spend it however you want. While this won’t allow you the maximum amount of savings for your refinance, it’s a way to get some cash if you need it and potentially save money over the life of your loan as well.

If you’re thinking about refinancing your home loan, consider using the tips mentioned above to help you make this decision.

 

Long term investing is a great way to start building a legacy. Some people invest just for the moment but adding some longterm investing into the mix can be quite beneficial. Long term investing is a great way for you to have the necessary funds for retirement. Investing can also be a way to pass on an inheritance to children or other family members.

When someone is considering long term investments, it is important they remain patient because they will not get a return on their investment overnight. They have to be thinking of how the investment will return back to them within years. Usually, people will keep the investment for at least three to five years.

There are a number of long-term investment strategies that you can use to stay flexible. Most people add various things to their investment portfolio. Diversification is something that should be considered when considering investments.

Stocks

Buying stocks is a great way to begin the investment process. Many people are able to sell their stocks once they see the price of them go up. The key is to find stocks that are likely to increase in profitability over the years. If someone is able to buy the stock low and then sell it for a higher price, they can make a substantial amount of money. If the stock happens to lower, it is important not to sell it then but wait until it increases. It takes patience to do this, but it is worth the effort.

Bonds

Bonds are another great way people are utilizing for longterm investing. There are numerous bonds available like municipal, U.S. Treasuries and corporate bonds. It is recommended to look at the maturity dates of these bonds. This way they will mature and be worth more money.

Precious Metals

Investors have really started focusing on the trend of investing in precious metals; especially gold. Gold is something that has managed to keep its value no matter what was happening in the market. Investing in gold and keeping it can be quite profitable. One place you can go to see what is available is by visiting dealers like Gold Stackers Australia. They are one of the top places people go to when they are wanting to learn more about investing in gold.

Certificates

Certificates of deposits are something that has been popular for a number of years. When you invest in CDs you give a bank money for a determined period of time. Once that period of time is up you can choose to get your money back plus the amount of interest that has been accumulated. If you keep the money in the bank, the interest rate will be higher. So, this is definitely an investment that will be more beneficial the longer it goes from being touched.

There are short and long-term certificates of deposits available. The longest Cd that is available is for ten years. What you should know is that if you try withdrawing the money earlier than the term, there will be some penalties involved. So, it is best to only place the money into a CD if it will be unneeded before the agreed-upon time frame.

Mutual Funds

Mutual funds and exchange-traded funds are another way to do long-term investing. When you get a mutual fund or EFT a manager will able to place your money into different places like stocks, bonds, etc. This is a great way for you to diversify your investment portfolio.

There are so many ways for you to take on long-term investing and secure a more financially responsible future. Everyone’s situation is different, so it is best to choose options that work the best for you.

There are countless stories of young people becoming millionaires and sometimes even billionaires at tender ages. Having successfully founded corporations before their 25th birthday makes most of you look at their successes as rare luck.

But the formulas behind their grand ventures have a unique combination in common: financial savviness and aggressive perseverance. Without a doubt, every successful entrepreneur has taken risks and with time learned to detect problems, understand the causes and create solutions. If you’re interested in learning how to grow your wealth, consider the benefits of investing in the following areas and establishing your assets:

Stocks

Making small investments in stocks to develop skills in identifying risks and securities is a good way to get started. When you get a good hang of avoiding risks, you can use the stock market to leverage financial gains and form a strong financial position. Investment in the stock market has a better chance of offering capital on return as over time the value of stocks tends to rise. A pro tip is to invest in professional companies that have a track record of stock stability and profit increment.

Also, judge according to how much a company has grown over time, this helps indicate the company’s ability and potential to expand and help investors make a profit. Typically, stocks provide income in the form of a dividend on a monthly or yearly basis. This may be a permanent or regular income on top of any profits and funds received from selling the stocks. Investors may also diversify their stocks by the process of diversification.

Investing in different types of stocks allows them to leverage. If some trends have fallen, others would’ve definitely risen in response. This helps you recover from losing the value of your stocks altogether. One of the main benefits of buying stocks is that it gives you ownership. By investing in stocks, you secure ownership of the company’s shares.

Mutual Funds

A mutual fund is a good solution for investors who want to limit the involvement of risks. It involves advantages which help diversity the holdings of investors. Mutual funds cover a wide range of holdings from different investments, which helps reduce the effect of risks on the overall portfolio. Mutual funds are managed by experts who are dedicated to helping investors analyze risks and profitability.

Mutual funds, although not as liquid as stocks, still offer the flexibility of being traded daily. Choosing a mutual fund allows novices to improve their chances of return without needing experience or putting in the time to learn of the securities of each fund. With mutual funds, you can also reinvest your dividends in fund shares, which also allows you to expand your portfolio.

Real Estate

The real estate entity is home to extremely wealthy people; this is solely due to property investments. Buying property is one of the most secure ways of growing your investment with huge margins. Generally, real estate provides opportunities for passive income while at the same time serving as a good long-term investment. Land value over time tends to increase and even if it plunges at some point, it can still recover from it. Real estate investments involve short and long term profit. In the case of a sudden increase in value, you can sell off the land with a good return.

But for continued benefits, you can use your property investments to collect rent/lease. This is considered an added income on top of the selling value of your land. You can also use your properties to generate profits through business activities. Property and land ownership, when maintained properly with skilful information, has the potential to raise your asset value significantly.

Gold and Silver

Gold and silver have natural traits that will always cause their value to be retained. With gold, the rarity aspect itself adds a huge bonus to its worth. Put simply, the uniqueness of gold and silver gives them the forever benefit of resisting devaluation. Gold, silver and other precious metals are much similar to property and land investments, in the sense that their value only tends to increase with time.

But, unlike properties, they are rather easy to maintain. They’re protected from market volatility, currency and political instability, and economic decline. Their chemical uniqueness keeps them lowly correlated with economic failures. Precious metals maintain their purchase power all across the world. Gold Bullion Brisbane is one of the vendors that provide comprehensive guidance and tools needed for this type of investment. It is a company dedicated to facilitating investors in preserving their portfolios from economic volatility. They provide direct access to owning precious metals and enjoying long term stability.

Physical Commodities

Investing in physical commodities is one way to safeguard yourself during an economic crash. This is when businesses are suffering and many of them are hitting rock bottom. It is a tough time to manage a good capital return, but with investments in commodities, you have something to roll back on. Physical commodities are consist of purchasing physical raw commodities (metal bullion).

It benefits investors by diversifying stock ownership and providing different returns on commodity stocks. Commodity prices are correlated with factors such as supply and demand, inflation, and exchange rates. For example, when there is an increase in demand for global infrastructure projects, commodity stock prices rise and positively impact your capital on return.

Industry-specific Index Fund

Investing in an industry-specific Index fund is a safe way to manage return even if you do not have sufficient knowledge about it. The funds are diversified enough to lower the risk of loss of investment. Since industrial operations are large scale and very diverse, your fund is likely to do well. Ultimately, this kind of index fund is well suited to both beginners and advanced investors seeking exposure to the specifics of one industry.

In the pursuit of wealth expansion, you should make sure you don’t squander what you already own. Learn about the minute details that you should be aware of before entrusting your money to any investments.

 

Technology is capable of doing a lot of great things. For example, it is now possible for you to do everything from ordering a pizza to turning on the lights by speaking to a small device on your kitchen counter. Technology has linked the entire globe together via the internet of things.

One thing technology has not been able to do is produce better financial management. Sure, you can download smartphone apps that let you transfer money to friends effortlessly. You can put budgeting and accounting software on your computer. You can even pay for things with cryptocurrency.

With all this technology, personal financial management is not getting any better. Why? Financial illiteracy. No amount of technology has thus far been able to overcome our ignorance of basic financial principles.

People Don’t Know Financial Basics

Financial illiteracy is a problem of staggering proportions. According to data cited by Financial Advisor, 17% of adults admit to losing more than $2,500 in 2019 due to their own financial ignorance. Another 39% admit to losing more than $500 in the same year.

The data clearly shows that people are not only financially illiterate, but they admit to being so. They do not know financial basics like budgeting and debt management. Forget complex issues such as investing, retirement planning, and reducing tax liabilities.

It is true that you can use your smartphone to achieve better money management. But in order to do so, you have to understand what it is you are trying to accomplish. Managing your money reaches far beyond accessing your bank account online or using tap-to-pay technology.

It’s Time to Start Learning

The key to better financial management is a solid financial education. Address financial illiteracy and you will solve the problems that come with it. It’s as simple as that. If you are having trouble managing your finances, it’s time to start learning those fundamental principles that will help you overcome your troubles and get you on solid financial ground.

What do you need to learn? There are too many things to detail a single post, but try these four to get started:

1. Budgeting

Budgeting is the single most important thing anyone can do to improve financial management. It is the most basic financial principle of all. What is budgeting? It’s the process of establishing a spending plan so that your expenditures don’t exceed your income. If you are not living on a budget, you have no hope of better financial management.

2. Borrowing

Borrowing is a part of modern life. However, far too many people borrow too much. It’s time to learn about how borrowing works. It is time to learn about things like interest rates, compounding interest, different ways to borrow and, most importantly, the total cost of borrowing.

3. Debt Reduction

Hand-in-hand with borrowing is debt reduction. Most people have no idea how much it costs them to remain in debt. Likewise, they don’t realize how much money they could save by getting out of debt. Debt reduction is something everyone needs to know about.

4. Saving

Lastly, we Americans are poor savers. That’s not good because a lack of saving forces people to borrow or do without. Perhaps if we really understood the power of saving on a regular basis, we would do it more often.

Financial illiteracy causes a lot of problems. However, we do not have to allow those problems to continue. If we are willing to learn and make a concerted effort to educate future generations, we can make financial illiteracy a thing of the past. Then all of that technology will actually be worth something.

 

For most homeowners, paying off a mortgage is a daunting and intimidating reality of life. It’s the monthly burden that comes with owning your own home, and it’s something you take on, knowing it will be with you for what could be decades. Many people dream of living debt free, so today we’re asking the question: should you pay off your mortgage early? We sat down with Jacques Poujade, a business expert with more than 30 years of experience in real estate financing. As a managing partner at LendPlus and a real estate brokerage in a financing firm, he is passionate about helping all aspiring homeowners finance their dream home and discussing the complex topics that come along with home ownership.

Jacques, what does a mortgage look like for the average American homeowner?

In general, Americans are dealing with a bigger mortgage burden now, than in previous years. In 2019, the average mortgage was $203,296, which was up about $5,000 from 2018. These are no small numbers for families and homeowners to take on. Mortgages mean monthly bills for what is typically 30-years. It’s no small undertaking.

Why would someone want to pay off their mortgage early?

Financial freedom is something most Americans dream about. If you have no monthly house payment, you can put that money into other areas of your life. Your kids, business ventures, retirement, leisure, or even additional properties and investments. Having that cash freed up in your daily life could make a huge difference. But most people don’t even think about paying off their mortgage early, or if they think about it, they’re not sure how to get there.

How can someone pay off their mortgage early?

Paying off your mortgage early is not as difficult and out of reach as it may sound. Take a close look at your finances and see if there are ways you can put aside some extra money for payments. Even small amounts of money add up, especially over the course of years. You can then make extra payments on your principal only, which is an option with most lenders. Homeowners just need to know to ask for it. A little can go a long way here. This could lead to you paying off your mortgage years earlier than expected. You can also look into refinancing your loan into something shorter term. And odds are, this could help you out when it comes to your interest rate. Another option is to pay your mortgage using crypto. I talked about how LendPlus revolutionized the real estate industry by accepting crypto for mortgage payments in an interview with SkippingStonesDesign.

What are some things people should consider when debating if they should pay off their mortgage early?

Well firstly, if you’re putting extra money into your mortgage, you’re losing that liquid cash in your bank account. That money could be going towards additional investments in your life. You need to weigh that against the benefit of saving on the interest expenses you’re accruing. And you need to be okay with losing that extra money in your pocket every month. Deducting mortgage interest is also a pretty useful tax strategy for many homeowners. That’s another factor to take into consideration. Really, deciding whether or not to pay off a mortgage early comes down to each homeowner’s personal situation.

One of the reasons why homeowners tend to avoid the dreaded responsibilities that often come with home renovation is due to the often overblown amount of money that is spent on such projects. There are people out there who are willing to put up with a home that is practically falling apart if it means that they do not have to spend heavily on any home improvement projects.

Unfortunately, such a mindset can only be taken so far. With enough time, the physical state of your home might be too much to ignore, and by then, you will have to make a tremendous investment in repairs. Fortunately, you do not have to resign yourself to such a fate. Here are a few ways to renovate your home successfully without excessive spending.

For larger projects, professional help can ease much of the burden

It might seem a bit strange to avoid excessive spending by hiring professionals, but there are some home projects that are often too risky to tackle by yourself. Floor screeding contractors, for example, are necessary for homeowners who want to make the most out of a flooring project. Not only will hiring professionals help lower the risk of something going wrong, but they can also give you quite a bit of advice on how to improve your home without breaking the bank!

With some careful planning, anything is possible

It would not do to tackle a home renovation project without a proper plan. Without one, you will not know where to begin, as well as the best type of materials to use in certain situations. Careful planning will also ensure that you do not end up wasting effort on a home renovation project that you cannot do on your own. It allows you to take stock of what needs to be done, and whether or not it is feasible to do on your own.

Pay in cash whenever you can

If it is something you cannot afford to pay in cash right this moment, it might be a good idea to hold off on that particular aspect of the home improvement project until you can do so. It is never a good thing to make use of loans or credit cards to pay for home renovation, as you could end up losing plenty of money on the interest paid. No matter how much you want to get certain things done, it might not be worth the headache down the line. If you do not have any means of paying right away, it is a better idea to wait.

Last but certainly not least, remember to pace yourself when it comes to home improvements. There are plenty of things that can go wrong, and you will only increase the risk if you rush things. Even if you want to put yourself on a deadline, keep in mind that unforeseen things can and will happen. With the tips above, you can save plenty of money while simultaneously lowering stress levels during a home renovation.

 

There are many ways in which you can save some money on your weekly grocery shop and one of the most beneficial which more shoppers should be using is cashback. This is a relatively new concept which has been around for about 7 or 8 years now, and more and more shoppers are cottoning on to the impressive savings which they can get when they utilize a website such as Cashback World. If you haven’t heard of cashback before or you are not sure exactly how it works, read on to learn more about it and to get saving the next time you go to do your weekly shop.

What on Earth is Cashback?

I’m pleased that you asked, cashback is a promotional marketing tool which companies use to get more people interested in buying their products. They will extend this offer to a cashback set such as Cashback World, who will then pass these huge savings on to the consumer. Instead of offering money off a product before you buy it, which is very often money off an inflated price incidentally, you will purchase the product at full price, and then recoup a percentage of the money back via the website.

Alright… So How Do I Do It?

Another great question, how do you get started in making the most of these killer offers. The first step is to sign up to a cashback website, this is where you will find the deals. You will have to pay a small subscription charge but this is what gives you the membership benefits of being able to see the great offers available. When you browse the website you’ll see a wide range of products which are eligible for cashback, each will offer a different percentage of cashback.

Sign Up and Browse, Got It, What Next?

Once you have found the product or products which you are interested in buying, simply head to the store and pick them up with your weekly shop. Once you have bough the items you can simply scan your receipt and upload it to your profile, proving that you have in fact purchased the products. Once you have done this the money will credited into your account.

What’s the Catch?

There is no catch at all here, the money which is credited to your account is just that, money, not credits or vouchers but real cash which you can then withdraw to your bank account.

Will I Want The Products?

The real draw of cashback websites is that they offer products which you are probably buying on your weekly shop anyway. There are some higher value items and some products which you may wish to try but generally the product which are on offer are those which all of us buy each week in any case, the perfect reason to get involved and get saving as soon as possible.

 

Even though your home might be your biggest investment, there are ways in which it can cost you money such as utilities, mortgage payments among others. Most people hope that their homes will pay off in the long run when they sell at a profit. However, you don’t have to wait until you sell your property to make money.

If you want to get the right buying or selling agent, you should consult top Dubai real estate agencies. Currently, there are new projects in Dubai that promise a good return on investment. The best part is that they are sold at very affordable prices compared to other cities like London or Paris. For instance, you can choose the various villas for sale in Dubai in different parts of the city.

Here are some ways you can make money with your house:

Rent out the parking space

Even though Dubai is a large city, there are limited parking spaces, especially in some neighbourhoods. Therefore, if you have a driveway or parking spot, you can rent it and make extra money. Nowadays there are several parking apps where you can list your space. In fact, if you live close to a stadium or popular venue, you can always lease event parking premium.

Board pet

If you love animals and have extra space, you can consider boarding pets in your home. You can create a kennel in your backyard to host the pets. Alternatively, you can welcome the pets into your house and care for them like your own. If you have time you can offer other services such as pet walking or grooming.

Use the yard to sell items

If you live in a dense neighbourhood, you can always take advantage of the traffic to sell items in your front yard. This can be things you are trying to declutter, things you have made or produce from your home garden. If it is allowed, you can put a sign to advertise the services you are offering.

Rent out to a film company

You can rent out your home to movie companies and get paid. Nowadays, film companies are constantly scouting for prime locations to shoot movies. Sometimes the daily rate of leasing your property is equal to a month’s rent.

Rent out the extra space

If you have extra space, you can rent it as storage. This can be the shed, basement, attic of the garage. However, you have to make sure it is pest-free, climate-controlled and easily accessed.

If you have any comments on this post, feel free to leave them below or contact us at iWriter a Lot!

 

You want to work with honest car dealers who are not only after the commission they are going to receive if they can close a deal with you. It is not easy to buy a car since you will spend your savings on it. Even when you opt for a car loan, you will repay the loan for several years until you finish it. Therefore, you need a car dealer who will tell you what you deserve to have and will not fool around.

Understanding

You need a car dealer who knows how difficult it is to get a car. If you do not need one, you will probably not buy one. Car dealers also understand you worked hard to own a car since it is a lifelong dream for many people. Dealers should have your best interest in mind since they know how difficult your situation is.

Reliable with numbers

Before you see a car dealer, you need to research. It helps if you know the current market price of the models that you are looking at. When you speak with the dealer, you can tell if the information you receive is a bluff or if it is close to the actual figures you researched. If you think the numbers are very different, you are dealing with the wrong person.

Flexible

Dealers know that the price they offer you is not final. You can still try to haggle and ask for a lower price. When you are with a dealer who is not flexible at all or will not even meet you halfway, it is a sign of greed. The dealer just does not want to reduce the possible commission by giving you a lower figure. You cannot talk things out with them, and it could lead to a stressful transaction in the long run.

Good reviews

You will also know if you are with the right dealer if you read positive reviews online across the board. Be careful in choosing the reviews, though, since it is possible to manipulate them. However, if the reviews are generally good, it shows that the dealers will be helpful to you.

Highly recommended

When you receive the same recommendation from several people you know, it is a sign that the dealer is the right person and will give you the best service. It is not easy recommending someone you did not have a favorable working relationship with. Therefore, if someone tells you to try a specific dealer, it is most likely worth doing.

Take your time to look around and find out which dealers will give you the best results. If you are still unable to get what you want, it is time to walk away and keep looking. You will soon find the best deal and not waste your money. You can also wait until the desired model becomes cheaper before you start asking around. Consider used cars too, like the ones you will find if you visit website resources specializing in used vehicles since they are a lot less expensive than a brand new model.

To read more on topics like this, check out the save money category.

For prudent consumers, buying used is a method to save money, and the same applies to cars. However, you can always save a bit more money on your purchase. And when you have the flexibility of a dynamic, moving market that’s untied to MSRP, being smart can not only save you money but also avert potential headaches in the future.

Even then, saving money can also be categorized into two types, one being short-term, where you cut the costs down during purchase, and the other being long-term. While short-term savings are important, long-term savings are absolutely crucial for a car and towards sustainable ownership unless you’re not concerned with keeping it for long.

Research

Again, whether if you’re buying new or used, being prepared can only be beneficial for your ownership experience. If you know what to expect and anticipate, you can grasp a good idea of which car is actually appropriate for your current needs, and how much it costs to actually run the vehicle.

Running costs is the crippling factor for many who often dismisses it or underestimates it. This is the prime reason why it’s worth checking out the owner’s forum and discussion to realise what you’re dipping your toes into from genuine owners. You’ll also understand better what to look out for when you’re shopping for your used car.

Negotiating

Moving on, knowing what to look out for will also provide you with leverage to negotiate with the dealers. Negotiating is an important skill to have, but when it comes to a moving market like with used cars, it might just be the best tool you have in your repertoire to really drive the initial costs down.

Private sellers can be a wild card in this case, either providing plenty of room for cash talk or will downright shut down haggles. Car dealerships though will typically provide leeway for bartering, as long as you’re reasonable. Since they have to shift their inventory fast, they might not offer a monetary incentive, but they can provide services to satisfy you as a customer.

Be Patient

Patience is a virtue, and it can eminently be the truth when it comes to a used car purchase. A used car is an investment worth waiting for, and ‘maybe this is good enough’ is what catches you off guard. Some folks wait years for their ideal used car, but you should at least have an idea as to what specific specifications you’re looking for.

If the salesman is being hasty and pushy, don’t hesitate to walk away. An overzealous salesman indicates hidden woes for you down the line.

Choosing the Right Dealership

If you’re going the dealership route, it is important that you don’t skimp on this. Find a dealer that is legitimate, willing to show you proof of license and works with large credit unions. Larger dealerships or franchises will also offer after-sales warranty, which can be a lifesaver for potential lemons that you end up with.

That said, a venerated dealership should also have a carefully curated range of used cars on sale. Be sure to ask all about the warranty, and read the fine print. A bit more cash for a comprehensive bumper-to-bumper warranty is always worth the trouble. Borrowing loans from reputable creditors also help improve credit score which can cut down your interest rate in the future.

Interest and Insurance

It’s also important to comprehend that interest and insurance are never dead set. You will want to avoid making too many credit inquiries at once, but different credit unions may offer varying rates for bad credit people looking at car loans. The same applies to insurance agents, where some folks even recommend calling around once in a while to scrounge for a lower premium.

If you’re dealing with a larger dealership, their finance expert should also be able to sort you out when it comes to the loan. Amortization period affects interest rate as well, where paying more over a shorter period of time actually yields higher savings over time.

These are just a few tips on how to actually drive your used car purchase costs down. If you have questions, be sure to contact us at Garston Motors. We’ll be glad to help you out.

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