3 strategies for Millenials to build wealth

Considered as the „best-educated generation in American history“  by Atlantic Magazine, one-third of Millenials is holding a bachelor’s degree. Despite this fact, they can become the first generation in American history that may become worse than their parents as their incomes are lower, they have more debt and poverty rate is higher.

In order to succeed, Millenials must be well-prepared for the future because the world is changing rapidly. With these 3 strategies, they will be on the right track to be financially secure and the possibility of their success will be much higher.

  1. Spend less than you earn

Most Millenials living from paycheck to paycheck and use credit cards in case of emergencies. In that routine, they expect higher income and lower expenses which are totally insecure and rarely pays off. No one can make progress if expenses are bigger than the earnings.

Having a financial plan and self-control in early life is the best way to develop financial security whatever the future will be. Deciding on regular saving using a zero-based budgeting system, you will create enough funds in the next month for the emergencies or save for home purchase, education of kids or retirement.

  1. Never make debts

Although, for most of the people avoiding debts is unrealistic, making the decision to never borrow the money should be imperative. If you spending money that you don’t have, it’s considerably lowering your future earnings and options.

Borrowing money is justified only in some case such as buying a home, refinancing high-interest debt and taking a short-term loan to make a contribution to the 401k employer-matching retirement plan.

  1. Set your financial priorities

With early saving, having a fund for health insurance and emergencies should always have the priority. Struggling to pay large medical bills is a cause of bankruptcies for 600,000 people each year.

Millenials are healthier than the people from previous generations, but they are not immune to many events that can cause significant medical bills such as obesity, childbirth, sports injuries, accidents, and desease.

Millenials are less in danger of having chronic health care problems, but traumatic injuries always can happen and these can cause a significant growth of your medical bills.

Emergencies happen often, so it’s always good to be prepared for it. Relying on quick credit or borrowing the money from other sources cause the damage to your saving plans.


The Different Avenues for Investment

Here in the UK, the financial services sector is worth a huge amount – and it covers all kinds of asset classes. Underneath that large umbrella is a whole host of different investment opportunities: from foreign exchange pairs to stocks and shares, there’s a variety of investment avenues to go for. Different ones are suitable for different people, and the degree of risk involved can be tailored to individual requirements. This article will look at the various investment opportunities available, and how each one could be of benefit to you.

Stocks and shares

Stocks and shares and property are often seen as being the classic investment routes. Many people associate investing with those particular asset classes, and they occupy a particular position within the cultural framework of investing too. And there are definitely some sound reasons to go with stocks and shares: performance in the stock market has historically been quite rewarding, and while past performance is no guarantee of future performance, it’s likely that more growth years are to come. However, stocks and shares have tended to perform well over time rather than right away – which means that investors often have to leave their cash tied up for a significant number of years to see a good profit when they sell.

Contracts for difference

Contracts for difference, or CFDs, are innovative financial products which are easily accessed and diverse. They don’t confer any ownership rights of assets, but they do track the underlying markets – so you’ll be able to benefit (or lose out) in proportion to the performance of the actual market. There’s also a lot of versatility involved with these products: the markets which CFDs cover include a whole host of alternatives, ranging from foreign exchange pairs to cryptocurrencies. Many CFD Trading Brokers can provide several types of CFD product, so you’ll be able to find what you need easily.

Property and assets

But financial products designed specifically for speculative investment purposes aren’t the only options. Property is another option, and it’s something that many people may have invested in without really conceptualising it as an investment. If you’ve bought your own home and paid off all or most of the mortgage, downsizing it and taking a lump sum is an investment decision in itself. And if you have spare cash lying around, a buy to let property may be a good avenue to consider. The same goes for items like paintings, wines and other rare items: people buy items such as old, expensive bottles of alcohol or collectibles like artwork, not just for their pleasure value but also because there’s a good chance they’ll appreciate in financial value over time.

So, no matter what sort of investment class you want to enter, there’s likely to be one out there for you. From the popular world of stocks and shares trading to other attractive options like CFDs and even collectibles, there’s an investment vehicle with an entry level that will work for you and your trading investment goals.

What are benefits of hiring fee-only financial planners?

When you have financial problems, the first step is recognizing that you need help. Then, you should know why exactly you need help. Whether you need it because of your retirement or investment plans, it’s definitely the sign for finding a financial advisor. It’s not easy because there are many out there, but first, you need to find a fee-only financial planner.

Who are fee-only financial planners?

Fee-only financial planners’ name speaks for itself. These financial advisors work for fee-only basics, which means that only you as a client, pay them the compensation for their services.

They work is devoted to their fiduciary responsibility which means that they must work in their client’s best interests. They don’t receive any fees and other forms of hidden compensations.

What are benefits of fee-only financial planners?

The best part of having hired fee-only financial planners is that you know they work representing your best interests. They are only there to help if you have any financial problems. Fee-only financial planners don’t work relying on what they sell in order to make you money. They just operate as fiduciary and guarantee that they will bring you financial benefits.

Fee-only financial advisors don’t have any connections with specific companies, so they only are there to offer you wide range of solutions to help you in achieving your goals.

Another great advantage of fee-only financial advisors is that can offer a wide range of services, without overcharging you, as they work for an hourly rate. They can help you to build up complete financial plan and you don’t need to overpay them. There are situations when fee-only advisors can take a percentage of your assets they manage, but even in this case, they’ll still work in your best interests as it will keep your assets high.

How much fee-only financial planners charge?

There are few ways they charge clients. Assets under management“ is the most common method when fee-only financial advisors take the percentage of your assets they manage.

The second method is to get the payment according to hourly or monthly rate. They are also a method of charging clients with a flat fee which means a fee as a compensation for the service they provide.

There are also financial advisors that work only with rich people. This means that they can take much more because of many assets they work with.

Mobile Phone Tricks – How To Save On Mobile Phone Costs

The mobile phone is a must for every person in the modern world and no one can live a day without using their mobile phones for calling up or messaging their known people on different pretexts. There are plenty of telephonic service providers operating in every locality, from whom the common mobile phone users buy their SIM cards. The costs of using these mobile phone services may be prepaid and some are paid monthly according to the bills sent by the service provider. However, a large amount of money is spent by everyone now, for calling via their mobile phones.

Few effective tips for reducing the expenses on mobile phones

 Choose the cheapest plan – Many people opt for automatic renewal of their contracts with the mobile phone service providers. In that case, they have no option but to pay the same rate of the existing plan that they are already availing. So it is better to compare the similar plans of other service providers through their websites and check the costs of all the plans, before renewing the contract with the existing provider; else they may opt for the cheapest plan provided by any other service provider company.

  • Check the mobile usage – Some people make more calls, while some may spend more money on messaging others. The internet usage is another criterion for the monthly expense, in case of the owners of smartphones. So the call plan should be selected according to the type of usage of the mobile owner, which will result in a much lower mobile bill.
  • Get an explanation for more call charges – In case of monthly mobile bills, it is better to check the call list minutely, to find out if any call has been charged extra cost. The mobile user should call up the customer care of the concerned service provider to find out the reason for that extra charge.
  •  Reduce overseas calls – When a person makes a call to another country, it always costs much higher than the local calls. So it is better to speak for lesser time on overseas calls and it is much cheaper to communicate with the overseas callers via any free online platform, like WhatsApp. The mobile user may also opt to message their friends or relatives staying in faraway countries, to keep the monthly mobile bill at an affordable level.

There are more convenient ways of reducing the mobile call rates, which can be discussed with the executives of the service provider company, to get the best deal in this regard.



Part 2: How to make money from home by offering services

Many people have some special talents: they cook well, they can do some kind of crafts, sew fine, etc.

But not everyone understands that such talents can be used for good, so they don’t know that they can make money from it. But, there are plenty of ways to achieve this.

The best way to look for buyers of finished products that you make at home is internet (social networks, newspapers of free ads) or – directly in the markets or stores where goods that you are making are sold. So, how you can make money from home?

Method 1. Cakes to order

This method of earning money at home is more suitable for women, but men who have this talent can also try to earn money by making cakes to order.

For example, you need to invest $15 to make a decorated cake, and if a price is $35, you can earn $20.

Method 2. Making souvenirs

You can make money from home if you know how to make:



crafts made of wood, vines, clay;

stuffed Toys;

painted dishes, etc.

You can use any of your skills (the more quality and original products you produce, the higher your earnings will be).

The profitability of such a business can be can vary from 30% to 100%.

Method 3. Needlework

If you sew well, embroider or knit, you can make clothes or home products made to order.

Calculating the monthly profit of such household earnings is difficult because it all depends on whether you use your materials or sew/ knit from what your customers have brought, as well as the number of these customers.

Method 4. Repair of electronic devices

This way to earn is suitable for handymen.

If you can fix anything, then you can seriously compete with official service centers, doing the same work for a lower price.

If you charge $10 per repair, and if have 24 repairs per month, you can earn $240.

Method 5. 3D printing

This is a relatively new type of business, which you can use to earn money from home.

To buy a 3D printer and supplies to it, you need to have about $2,000.

If you quickly learn how to work on it and find the sources of sales for your manufactured goods, you will be able to return the investments no later than in 5 months.

You can make money sitting at home next to a 3d printer, producing:

souvenir products;

office products;




decoration and so on.

If you have the monthly income of $3500 and your expenses are $500, you can earn $3000 per month.

Part 1: How to make money from home by selling things

Modern life provides enough opportunities not to work for a minimum salary for someone in a commercial office or government organization, but to see hidden prospects.

This can be done without leaving home your home. It is only necessary to choose a profitable occupation for yourself and start making money.

If you have always dreamed of working in a trade, but do not want to work in a regular store, then you will be able to build your commercial vein at home. You can do sales, and at the same time earn good money.

  1. Online store

People are quite lazy, so for many of them is hard to go to the distant shopping center.

Today, the advanced young people prefer to make purchases on the internet without spending too much money. You can use this trend and make money by opening an online store.

To make money while sitting at home using an online store, you need to:

–    Form sole proprietorship.

–    Decide what exactly you will sell: clothes, shoes, household goods, car parts, etc.

–    Enter into contracts with suppliers.

–    Find an assistant.

–    Create a user-friendly website.

–    Fill it with goods (photo and description).

–    Start advertising your online store.

If you do not have enough money to open a full-fledged online store with a large assortment of goods, you can sell your own things that you don’t need anymore.

  1. Selling things through online auctions

Today on the internet you can find a bunch of online auction websites, where ordinary people can make money from home, by selling unwanted things.

The most popular and convenient users consider:






To earn money from home, making sales on the online auction, you need:

–    Register account at one of the websites given above (or at all of them).

–    Take pictures of things you want to sell.

–    Make descriptions of them.

–    Set the price.

–    Wait for buyers.

If you don’t ask too much, by setting prices, you can not only get rid of excess rubbish in the house but also earn money.

  1. Distributor activities

If neither the first nor the second option suits you, and you still want to make sales at home, you can become a distributor of a large company.

The constant income can be within 200 – 300 dollars a month. If you have a permanent job, you’ll not have too much time to sell, but if you decide to make money without leaving your home, then your income can be much higher.

How you can benefit from MMC’s

MMC (also known as smart construction) stands for Modern Methods of Construction.

This method allows for faster and more efficient building as it uses off-site construction in factories.  This makes mass production possible in a way that is not achievable when using more traditional methods.

It also has the backing of the government who is pushing to drive adoption of this method.  MMC is already prevalent in public building initiatives and this popularity is likely to transfer over into the commercial housing market.

What is the process for getting a mortgage for an MMC property versus a traditional build?

Key to consider in this respect is whether it is more difficult to secure a mortgage on an MMC property than it is a traditional build.

Of course, there are variations from lender to lender and each will have different requirements and different terms and conditions in place.  A big consideration for lenders is the quality of the property (and this applies to both MMC and traditional builds), however these concerns may be greater for MMC properties and therefore make it more difficult for those self building to secure the finances they need.

Generally speaking it pays to approach a building society for self build mortgages.  Seeking help from a qualified mortgage advisor can be a good route to the best deals if it is proving difficult to secure the finance needed.  Building societies, particularly those that lend in the self build market are likely to be more receptive as they are more experienced and better equipped to accurately identify any potential risks of a self build mortgage.

A mortgage advisor is able to guide borrowers regarding what documentation is required.  However, for those approaching lenders directly it pays to be prepared and have all the required information in p lace.  The same documentation that is needed to apply for a mortgage on a traditional build is required along with several other documents.

Borrowers will need to see; construction drawings and specs, total project cost estimate (including fixed price contracts where possible), copies of planning permission.  In addition, they will also need to see Building Regulations Approval (including SAP calculation), structural warranty, a site report and in some cases the architect’s professional indemnity cover.  New Homes Warranty (10 year insurance policy) is required and the mortgage lender will provide a short list of who their acceptable providers are, buildings insurance is required valued at equal to the build cost of the property (as a minimum).  In some cases, lenders may also wish to visit the site to undertake further checks.


Tips – What to Know About Renting Out Your RV

When you decide to buy an RV, you might not necessarily think of it as an investment. Instead, you may be thinking more in terms of the enjoyment it can bring to you and your family. However, a lot more people are being strategic with their RVs and turning them into a source of passive income by renting them out. There are plenty of people willing to pay well to rent an RV, but there is a lot of competition.

For example, if you visit Outdoorsy, a site that serves as a peer-to-peer platform for RV rentals, you can see how many options are available.

If you were to choose a location, for example, Virginia Beach, there are 176 RVs currently available.

If you’re planning to rent out your RV, what should you know to ensure you stand apart from the competition, so you’re able to maximize your earnings?

Be Transparent with Your Listing

When you’re listing your RV to be rented, it’s important to be honest and transparent. When you’re using an RV rental site, the people who rent from you are going to be able to leave their own feedback and reviews, and building up history is very important to continuing to get renters.

If you’re dishonest in your description and you try to make your RV seem better than it is, you’re going to have unhappy renters, and that’s going to destroy your RV business before it even gets started.

Be truthful in your descriptions and manage expectations. Even if your RV isn’t brand new or the most high-end model available, there are going to be renters who are interested if the price is right.  If they feel like they knew what they were getting, they’re more likely to leave positive reviews.

Professional Cleaning

Before you have your first renter take off in your RV, you should have it professionally cleaned. The importance of cleanliness can’t be overstated. Then, you might want to build in a cleaning fee for each rental so that you can continue having it cleaned each time someone rents it.

This is what property rental companies do with vacation rentals, and renters are going to appreciate a clean, fresh vehicle.

Add Extras

There are simple ways to add perceived value to your RV when you’re putting it on the rental market. For example, make sure it’s stocked with the essentials that travelers probably aren’t going to bring with them. This can include sheets and towels, as well as dishing and basic cooking items. You can keep things like oils and spices stocked, and you can add a coffee maker.

These things don’t cost a lot of money to include, but they’re something renters are likely going to value.

Finally, be strategic with your pricing. You may want to overprice your RV to earn more, but you need to do market research, be honest with yourself about how your RV stacks up and come up with a price that’s in-line with other RVs being rented out in your area.

What You Should Know BEFORE Applying For a Mortgage

The purchase of own home is a dream of most of the people, but it is difficult for the common men to afford the prices of individual houses or apartments. The option for taking a mortgage loan is the best way to enable these people of mediocre income to buy their own residences. They can repay the money taken as mortgage gradually over the years while living in their own homes. However, it is essential to know certain vital factors, before a person proceeds with the application for a mortgage.

Main aspects of taking a mortgage loan for buying house

 Know about the rules of all mortgages – Mortgage is available from different banks and other financial organizations. But each of them has their own terms and conditions about granting mortgages to the customers. So it is essential for the applicant to do a research online, by checking the rules mentioned on the website of each local financial company, as well as the reputation of these organizations.

  • Decide the preferable mortgage duration – Generally, the mortgages are granted for 15 years, 20 years or 30 years. The longer is the duration of repaying the mortgage loan, the lesser will be the interest to be paid by the borrower. So if the financial condition is not stable enough, it is better to opt for mortgage plans of lengthier durations.
  • Opt for the type of mortgage – The mortgage should be either in a fixed rate that does not change within the entire term or may be in the adjustable rate that can change according to the financial condition of the market. The adjustable rate mortgage is likely to decrease the interest sum later, which is not possible in case of fixed rate one. Some financial organizations provide some reward points to their customers that can be used for reducing the interests.
  • Keep in mind all the related expenditure – The loan receiver needs to give good sums of money for the paperwork, fees of the mortgage agents and many other relevant charges at the closing of this deal, apart from a down payment. So they need to be ready for bearing all these fees if the seller of the chosen house is not willing to pay any of these charges.
  • Check eligibility of the borrower – The money lending company will always check the credibility of the mortgage applicant, before granting him the required mortgage. The yearly salary of the applicant should be satisfactory enough for granting the asked sum of the mortgage. The applicant’s credit score will also be checked to see if there is any kind of dispute in his credit history.

When the borrower has decided on all factors for taking a mortgage, the application should be filed in with all the necessary documents, to get the money fast for the payment of his dream home.

Property let insurance – a quick run through

If you buy a house, apartment or building (a property to let), you’re running a business activity which the main goal is to make the profit from it by collecting the money from your tenants.

In this article, you will see how and why to let property insurance is important and what it differs from the standard form when the insurance protects the property normally when it’s in continuous use by the owner of tenants.

Property let insurance – when other is not suitable

The difference between this type of insurance and the standard is important for insurers as they consider that there are different risks for the property when it’s occupied by tenants than for one that is exposed to the normal use.

When tenants rent the property, it’s necessary to have the landlord or let property insurance, as a standard form are not suitable anymore.

If you don’t have the let property insurance for the apartment, house or building you’re letting, any claims for damage or loss will be unjustified and likely rejected.

What let insurance covers?

Because of many different landlords, there are also different types of let or landlord property insurance.

A typical let property policy include the following features:

Building insurance

As the building is the primary asset for the buy to let business, you need to protect the whole structure and its integrity. This type of insurance also protects your building from highly dangerous and destructive risks as fire, floods, storm damage, the impact from the surrounding objects as trees and branches and cars, vandalism and theft.

The total insurance of the building protects it from the worst scenarios where the property is completely destroyed and needs to be rebuilt.

Insurance of contents

If you’re a landlord, you surely have some contents that need to be protected and insured from loss, theft or damage.

Liability insurance for landlords

When you own the property, you have the liability to ensure that no one inside and outside your building will suffer from the injuries (tenants, visitors, workers) or damage their own property.

Rental income loss insurance

If you own a property, you already know that it’s a business and if a sufficiently severe insured event damages it, your income may stop because the property that you currently have is impossible to inhabit. Most of the landlords in such cases can get the compensations for their loss.

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