Tania Michele: September 2021

Wednesday, 29 September 2021

Are You Making These Massive Financial Errors?*

It’s easy to make mistakes with money. Doing so can land you in hot water so let’s look at some of the key steps that you need to consider to keep your financial situation happy and healthy and the mistakes you must avoid.

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No Savings

First, it’s worth noting research shows that the majority of people these days do not have any money in savings. This is why so many ended up in trouble at the start of the COVID-19 pandemic. If you have savings, then you’ll be ready to face any rainy days that lie ahead. This means that you can cover costs of issues with your home or even a period of redundancy.

Saving is often about getting in the right mindset. Treat it like a tax you have to pay each month and you’ll be surprised how much you manage to get together.

Forgetting To Even The Odds

A little further down, we’re going to discuss why it’s important to invest your money. If you are doing this, then you need to make sure that you’re not just gambling. Even gamblers don’t just gamble their money. Instead, they use tips to give them better odds at getting the right pay off. If you want to know how to find the best horse racing tipsters, then there are guides online for this but there are also guides online for brokers. Brokers are like tipsters. They’ll search the market for you and find the right investment to focus on that is more likely to pay off.

Failing To Invest

If you are saving, then you should also be investing. Ideally, you should aim to invest about half of what you save each month. You might want to think about exploring a few different types of investments so that you diversify your portfolio as much as possible. For instance, you could look at cryptocurrencies as well as other options like property. The more diverse your portfolio is, the easier it will be for you to stay in the green with your investments. You don’t have to be an expert to win here, but you should, as we mentioned, do your research and get help from the right people.

Not Keeping Track

Everyone should have a budget that they are working with. This is true regardless of how much you are earning. You need to keep track and ensure that you are not living past your means. One of the ways that you can handle this is by working out your income which will usually be the money you get from your main job. You should then add on any side hustles and we’ll discuss these a little further down. Once you have done this, you can then subtract your bills from this amount and any other costs that you need to cover each month. The amount left is the money that you can save but you’ll probably spend a portion of this on little luxuries that you are interested in.

No Side Hustle

Next, you should think about setting up a side hustle. It doesn’t matter how much you are making from your main career. Financial experts argue, rightly so, that you should still have a side hustle in place. There are lots of different examples of side hustle and it will basically give you an extra cushion of cash that you can use however you want. You can use it for investments or you can use it for little luxuries that don’t fit in your main budget.

Forgetting The Value Of Money

Finally, if you have enough money to get by, then it’s easy to forget the value. What we mean by this is that you can end up throwing it away on things that don’t really matter and don’t benefit you. For instance, you might buy a product without checking whether you’re paying the best price and getting the best value on the market. If you do this, then you’re already making a loss and overspending. That’s a problem because this is money that you could put elsewhere. You could use it on an investment or you could think about putting it in savings. By missing the value of money, you are also missing out on a lot of opportunities.

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We hope this helps you understand some of the key steps that you should take to ensure that you don’t end up with financial issues in the future. If you explore the right options, then you can guarantee that you can even access a better quality of life.

Wednesday, 22 September 2021

5 Ways That Social Media Impacts Our Lifestyles*

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According to Smart Insights, ‘more than half the world now uses social media.’ Many of us find it hard to imagine a world without it, a strange idea considering it’s such a new technology. Social media impacts our lifestyles in many different ways, let’s consider this in a little more detail.

1 . A learning tool

Social media sometimes gets a bad rep, but the fact is it can be a fantastic learning tool. If you follow the right online publications and accounts, you can use the online world to learn new things, and broaden your horizons. According to Pew Research, ‘a study of 4,594 Americans revealed that 51% of them visit YouTube with the intention of learning,’ (Markinstyle, 2021).

2. Political messages

Social media is full of political messages, politicians use their accounts to communicate their policies to potential candidates. Brands often share their political stances, and members of the public engage in political debates. In many cases, engaging in political debate can be positive, helping our societies to grow and advance. The issue is, there’s much misinformation shared on social media, ‘fake news’ is well and truly on the rise. Over the last year or so social media sites have launched fact checking tools, to stop the spread of false information.

3. Social commerce

Social media has changed the way that we shop, many brands offer social commerce options allowing you to buy products without ever leaving that social media page. The process works for the customer because it’s streamlined, and only involves a few clicks. Brands can combine social commerce with user targeting, ensuring that their products are seen by the right people.

Social media has made it easier for budding entrepreneurs, using the power of social media small brands can reach people all over the world. For small brands with big dreams, the possibilities are infinite. Video content is incredibly popular on social media, including animation content. If your brand is looking to create some killer content, you’ll want to work with a top animation studio.

4. Staying connected

Social media allows us to stay connected, no matter where we are. In the past, we might have lost touch with old friends, travelling buddies, or even distant family members. Using the online world users can share photographs, exchange messages, video call, whatever they please. Social media gets plenty of criticism, but one thing for sure, it’s certainly changed the way that we connect with one another.

5. Mental health

According to Forbes, studies have indicated that social media can have a negative effect on our mental health. There are several reasons why this might be the case. It’s been suggested that social media can make you feel inadequate about your appearance or lifestyle. Most of us can relate to the practice of comparing yourself to others online. For teens, cyberbullying is a huge concern, which can have a drastic effect on mental health.

Social media impacts our life in many different ways, there are both positive and negative aspects. Social media can be used to launch your business, or connect with family overseas. However you use it, be sure that you are mindful of the content that you post and consume.

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Thursday, 9 September 2021

5 More Ways To Unlock Business Funds*

Launching a small and independent business is no easy task. However, if you want to free yourself from the restriction of being an employee in an office, becoming your own boss is a refreshing experience. However, it comes at a hefty cost. Joining an office as an employee costs you absolutely nothing. When you launch a business, you become responsible for the cost of administrative processes, equipment, marketing, maintenance, etc. In other words, you may need to secure funds before you can get started. \In a previous article, we’ve listed some of the most popular methods to get money for your new business.

Indeed, working with reputable marketing agencies to get your venture off the ground can contribute to unlocking your growth potential fast. You can also use your branding presence to appeal to investors in the equity crowdfunding scene. New ventures can sometimes get access to affordable business loans that can support the launch. More often than not, a company that’s already defined its brand and business plan can start selling right away to build up its capital.

You can also manage your fund using your personal finances, using your credit card to finance the launch while your savings keep the debt under control. Alternatively, many solo entrepreneurs choose to borrow from friends or family to keep interest rates manageable. Finally, second-hand markets can be a source of financial power, allowing you to purchase used equipment at a low cost and sell your unwanted items to raise capital.

But what if those tricks are not enough to launch your venture? Here are 5 more ideas to unlock business funds.

#1. Turn your spare bedroom into a rental

You can monetise your spare bedroom by turning it into a rental. Becoming a landlord, however, is no easy task. However, you’ll find the maintenance costs less significant when your tenants live under the same roof as you than if you had to look after a second property. To appeal to tenants, you want a cosy, elegant, and comfortable bedroom that is fully furnished. It can be a good idea to opt for quality bedding, such as supplied by Richard Haworth, the favourite supplier of luxury hotel chains. Why? Because the bedding is robust and designed for frequent use. You don’t want to replace the bedding fabrics after a few washes. Additionally, it enhances the bedroom atmosphere.

The rent of room scheme is best suited for students or anyone new to the area who doesn’t have a permanent property. If you live in a touristic city, you can also open your room to weekend travellers, creating a reliable source of income for your business funds.

#2. Become a recognisable expert

As a business, showcasing your expertise is key to attracting customers. But as a newly launched business, your expertise can also become a source of funding. YouTube channels are one of the most effective approaches to monetise content. As a solo entrepreneur, this means you could get paid for your expertise even if you do not have any customers yet. Many business professionals use their channels to educate and inform the audience. They also can raise sponsorship money through partnerships and patron platforms. Additionally, being visible and recognisable can also make it easier to appeal to an angel investor.

#3. Can you be an influencer?

The other valuable use of social media for solo entrepreneurs is to build an influencer platform. Platforms such as Instagram are best suited for influencer activities. An influencer doesn’t need to share their business expertise, which can be a good idea if you are uncomfortable with a YouTube channel. However, you will need to make your personality and lifestyle relatable to your followers. Influencers can often receive free products for testing or a sponsor partnership campaign. Depending on your niche, you could secure your business equipment entirely throughout your influencer activities.

#4. Be a beta tester for new products

Similarly, becoming a reviewer or tester for digital or technical products can give you early access to solutions that are not released on the market yet. This could be a fantastic way of equipping the business without spending a penny for entrepreneurs who need highly specialist tools. But remember that brands will expect a complete report on each item.

#5. Check local business grants

As the government and local institutions are working hard to recover from the pandemic crisis, grants for new businesses can be available in some industry sectors and regional areas. The purpose is to encourage small businesses to flourish and grow to recoup the economic loss suffered during the pandemic. So it’s worth reaching out to your local chamber of commerce and other governmental institutions to discuss your options.

Can you kickstart your business without breaking the bank? The answer is yes. It may not be easy or immediate, but you can focus on your capital and assets if you can’t secure funds for your venture right away. Good luck as an entrepreneur!