5 Top Tips For Getting Onto The Property Ladder


5 top tips for getting onto the property ladder

Getting your foot onto the property ladder can be an achievement which feels out of reach for many people, however, it can often be a much more cost-effective than renting. It may seem that buying your home is unaffordable, but if you take these points into account, you may find that owning your own home can become a reality – even if you don’t have a massive deposit to spare. There is always a way if you have the desire to do something and this includes becoming a home owner.


The right location

It is important to consider the location, as you can dramatically reduce the cost if you choose to stay out of a busy city, for example. It may be that your dream home is situated in Central London and this would be a great location for getting to work etc., but it is one of the most expensive places to buy a home. You’ll find that prices will drop dramatically out with the city and it may make it more affordable to buy. Wherever you reside, it is worth looking at other areas nearby to see where you will get the best deal.


Government assistance

It may be that the government will be able to offer you some help with buying your own property. There are a lot of initiatives out there for first-time buyers, such as shared ownership, where you share the property with the government and pay more as you can. This is a good way to ease you into owning your own home. There is also the help to buy scheme, which is where you pay a lower deposit on your new property to make it more affordable. It is a good idea to ask around and find out what initiatives are running, as you never know what great deals you may be able to pick up.


Save your cash

It may seem impossible to get a deposit together, but if you try and put some money away each week, you could soon find yourself with exactly what you need to buy your home. If you save £20 each week, for example, you will have over £1,000 in a year. It is easy to spend £20 on things you don’t really need so make up your lunch for work, walk instead of driving and give up on your usual magazines for a while – and you will soon have the money you need to save for your deposit. Put your money into a regular savings account, ISA or even your own current account, as this will allow you to gain interest on all of your savings. You may need to be prepared to make some sacrifices for the things you really want and it will be worth it in the long run.


Joint mortgage

If you were intending on taking out a mortgage on your own and you really don’t have the cash to spare, it might be worth considering taking out a joint mortgage instead. You may have a partner who you can get a mortgage with, or perhaps one of your friends may be interested in this as an option if they are also struggling to get onto the ladder. It doesn’t need to be forever. When you get onto the property ladder, you may be able to look at other options in the future.


Borrow the cash

If you are certain that you will be able to pay it back and you want to buy your property sooner than later, borrowing the cash may be a good option. If friends or family can help you out, this is by far the most favourable option – as you (generally) won’t have the usual interest to pay back. However, if this is not a viable option, you may be able to take out a loan from your bank or local credit union. A payday loan could be another option if you can afford to pay it back when it is due. If you have a lot of other debt, it is advisable not to take out any more credit, but instead, try to save the required amount instead. The last thing you want is to start out your new life with a lot of debt hanging over your head.

Why Payday Lending Can Offer A Solution To Urgent Bills


Why payday lending can offer a solution to urgent bills

No matter how sensible we are with our cash, there are always occasions when money doesn’t stretch as far as you might like. Unexpected repairs, bills you forgot about and special occasions you didn’t prepare for, are all reasons why you might need to access credit quickly. If you don’t have any savings and your friends or family can’t help you out – you may need to try another avenue and this is where a payday loan can be useful. These are some reasons why payday lending can offer the perfect solution for urgent bills.


Cheaper than credit cards

It may be more cost effective to use a payday loan, than a credit card for your emergencies. If you manage to pay your loan back on time, you won’t have any further interest to pay and it can be more costly to use other means of funding. The good thing about payday loans is that the money is credited into your account, so you know where you are with it. This is different with credit cards, as it often doesn’t really feel like you are spending money!


Quick and easy

The application process for a payday loan is often a lot quicker and easier than for other types of credit. In general, you would receive your cash on the same day or at least within 24 hours, if there are no problems. If you need to make a payment quickly, or you have a special occasion and don’t want to worry about cash – this can be the perfect answer. An application for a payday loan should only take a few minutes to complete, which is a lot less hassle than for other means of credit. You usually don’t need to supply any other information, other than your income and bank details.


Higher acceptance rate

While other financial institutions will make you jump through hoops before you get credit, payday lending companies have a higher acceptance rate, with less focus on a perfect credit rating. If you have less than perfect credit and need access to urgent funds, this can be a better solution.


Lower criteria

With many other loans or credit cards, you are required to tick a lot of boxes before you will get credit, but this isn’t the case with payday loans. If you are aged 18, have a current back account and you are in employment, you can quality for a payday loan. This lower acceptance criteria can make payday loans a much more feasible option.



It doesn’t really matter to the payday lender what you plan to spend the money on, you can take it out for all purposes. This is often not the case with other lenders, who require specific details on your intentions for the loan. This greater flexibility can make payday loans a more attractive open than other types of credit.



Although this is not an option to take lightly, you do have the option to extend your repayment date, if you need to. This is an option which is not usually offered with bank loans or credit cards. You either pay it on time – or you suffer with extra fees if you don’t. This means that if the worse happens and you really can’t afford to pay the loan back on your next pay day, you don’t have to stress too much about it. You can usually just roll it over until the next month, however, it is best if you can pay it back when it is due.


Loan increases

If you pay your payday loan back on time, you may be given access to higher amounts in the future. You will generally start off with a small loan, but this can increase if you need to return to your payday lender in the future. This type of trust and loyalty is not something which is usually present with other means of credit.


Improve credit rating

If you have no credit rating or a poor score and need to make improvements, a payday loan can be a good way to do it. As long as you make repayments on time, every month – your credit rating will start to increase. It can be a good way to start on your financial journey – as long as you are sensible and don’t keep extending your loan.

Common Financial Mistakes And How To Avoid Them


Common financial mistakes and how to avoid them

Unless you are extremely savvy, you have probably made some financial mistakes throughout the course of your life – most of us have! Unfortunately, most of us are not really taught how to manage our finances effectively from a young age and this can cause problems in later life. Fear not though, no matter how bad your finances are – you can make steps to get them into order. These are some common financial mistakes and how to avoid making them, or at least reduce them if you’ve already made them!


Using credit cards

Many people completely rely on credit cards for daily purchases, but this is a sure-fire way to get into huge amounts of debt. When you use credit cards, you don’t feel like you are using real money. The money isn’t coming out your account, so it’s easy to just keep using it without any further thought, but this can easily spiral out of control. It is best to avoid the use of credit cards altogether, or at least keep them for emergencies and pay cash whenever possible.


One source of income

If you are solely relying on your pay at the end of the month, you may find that you will struggle financially, if not now – in the future. Even if you make good money in your full time job, it is a good idea to have different sources for your finances – as this will give you better control and earning potential. There are so many ways to make money out there and most of us don’t utilise any of these or very few of them. Some examples might include investing in property, selling items online or doing some additional work with another employer. The more sources of income you have, the better your peace of mind will be and less worry about finances in the future.


Living beyond your means

It is natural to want to keep up with everyone else, but you have to live within your own means and only buy the things you can afford. You may want to buy the latest BMW to drive up to your next business meeting, but if you can’t afford to keep up with the payments, you will only give yourself financial stress. Although it can be challenging, living within your means is important if you don’t want to create financial problems in the future.


Not saving for special occasions

There is nothing worse than a special occasion looming and realising you don’t really have the funds available to pay your way. Not only does this cause financial stress, it can also leave you reaching for your credit card. An easy financial mistake to make is not saving for special events and failing to forward plan for your future. It is a good idea to have different savings for separate occasions. For instance, your holidays, clothes, travelling, a new car, etc. It may take longer to get the cash you need, but saving is much better than using finance.


Not budgeting

If you just go around spending, without keeping any tabs on your accounts, you are likely to be spending much more on things that you don’t really need to be. It is a good idea to track your money, as this can stop you from wasting money unnecessarily and can help you to make savings. For example, you might be spending a lot of cash on shopping every day, when a monthly or weekly shop would be far more cost effective. You may be spending a lot of money on travelling to work, when you could quite easily just walk. These small savings can be used on much more enjoyable activities, such as travelling.


Lack of financial planning

Another common mistake is a lack of financial planning. Not working out what you need to survive, what you are actually bringing in and what your financial goals are for the things you want to do in the future, are all mistakes many people make. If you plan for your future, your finances will be a lot better and you will have a brighter life as a result. Everyone has different goals for their finances. Some people are happy to just survive, while others want to see the world and retire early. It is entirely your decision but just be aware of what you want.

How To Improve Your Earning Potential As A Freelancer

How to improve your earning potential as a freelancer

Working as a freelancer can be a great way to improve your freedom and get away from the daily grind, but it can also mean that your earnings are not as reliable as they would be when working for an employer. However, when you work as a freelancer, you don’t just pick up the same amount each month – you can have more opportunities to increase your earning potential, if you choose to put the work and effort in. If you want to improve your earning potential as a freelancer, these are some ways to do it.


Get a website

In order to increase your earnings, you need to get more business through the door (or laptop!), and this is where a website can be useful. Your website basically runs in the background, but through good SEO, it can drive business to you. It might take a bit of time to get your website looking good, but when it does, it basically runs itself.


Promote yourself

As a freelancer, you need to get out there and promote yourself, in order to gain more business and improve your earning potential. A strong presence on social media is important for getting new business and networking can also be useful. As a freelancer, you need to be prepared to get out there – you are your only representation and it is important to make this a priority.


Increase your services

A great way to improve your earnings is to keep learning and offering additional services to clients. Don’t listen to anyone who says you shouldn’t be offering more than one service; you are free to offer as many as you like and we are all capable of mastering a range of different skills. If you offer a web design service, for instance, you might consider branching out into social media marketing and copywriting. The more services you offer, the greater your earning potential will be.


Set daily goals

It can be really difficult to achieve great results from your freelance work, if you don’t set any goals. If you work towards goals, you will be far more likely to achieve great results. It is a good idea to consider how much you would like to earn each month and what you will need to achieve this. For example; how much will you need to earn each day? Will you need to work some weekends to achieve this? What will your daily hours look like? These are all points to consider for achieving your daily goals. Hubspot is a good website for managing your work flow and earnings to keep you on track.


Time tracker

Another way to stay on track and increase your productivity is to use a time tracker. Time trackers are a great tool for freelancers, as you are far more likely to focus on your work if you know your time is being logged. There are a range of different time trackers available, including Toggl and Rescue Time. Rescue Time shows you how much time you spend on entertainment (such as Facebook), so it shames freelancers into reducing wasted time on social media.


Get rid of distractions

On this train of thought, make sure you minimise any distractions which may put you off your work. Don’t be afraid to tell your friends you don’t have time to see them that day and stay away from social media while you work – unless you are doing social media work, of course! Distractions are a productivity killer, so the more you can avoid these – the better.


Work more!

It may seem like an obvious one, but if you want to earn more as a freelancer, you might need to start increasing your hours. It may be that you think you are working long hours each day, when actually you are being pretty unproductive for most of them. If you start using time management apps and setting yourself specific hours for each day – you will find that you will start earning much more than you could imagine.


Outsource your work

If you are getting huge bulk orders, which you can’t do on your own – it might be worth outsourcing some of your work. This can be a good way to earn more as you can outsource for less than what you are getting yourself and make a profit. It is advisable to only outsource to people you trust and you know are good. Otherwise, you might find that you are spending longer checking and chasing work – which may make it a waste of time.