What To Look For In A New Family Car

If you look down your driveway to see an old banger staring back at you, you would be right in thinking that it’s time for a new car. The choice of vehicle stock in the twenty first century can be mind blowing. However, for the family market, there are newer SUVs, greener cars and safety features to consider. The most important thing for most families when choosing a new car is budget and working out whether to go brand new off a forecourt or whether to opt for a reliable used car from a dealership. Take a look at this guide to help you navigate the family car market. 

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Used Or New

There is always a temptation to go for a brand new car. However, with a new car comes a larger price tag. This is a cost that will depreciate the moment you drive your new set of wheels away from the forecourt. You could cushion the blow of a new car by opting for a sell car for cash sort of scheme, where you can trade in your old banger for some readies to put towards your new vehicle.

Alternatively, you could seek out the used car route. Used cars are becoming more and more reliable as manufacturers lengthen warranties. Choosing a used car can save you cash upfront initially and you will have more choice, helping you pick a vehicle that belongs to a lower insurance group.

Running Costs

If you aren’t sure what to look for when selecting a new family car, take a look at running costs. You need a car that will do many miles to the gallon so look at fuel economy. Ensure that you consider greener cars. Electric and hybrid vehicles are becoming more popular as they require a recharge rather than more expensive fuel. They are also better for the environment, belong to lower insurance groups and cost less in maintenance. They may cost more to buy initially, but these sorts of cars are great for the long term. 

Don’t forget to look under the hood of any car that you are looking to buy. If you have no idea about the mechanics of vehicles, take someone who can spot a blown head gasket or a poorly conditioned engine. You don’t want to be stuck with a lemon on your driveway.

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Safety Features

On any journey, you want to make sure that your brood is protected. While you may be a safe and defensive driver, other road users may be aggressive and fast, with very little hazard perception. Accidents can happen, and you want to make sure that the motor that you have protects your passengers. Take a look at the Euro NCAP website which rates all family cars out of five for safety features. Consider looking at cars with more advanced braking systems, blind spot detectors and hazard perception. More advanced automated safety features are becoming standard in twenty first century vehicles.

Choosing a new car can be a pleasure for some, but a chore for many. Follow this guide and ensure that you find your perfect family car.

The Value & Importance of Planning Ahead

When you plan ahead in life, you can achieve so much more than would otherwise be possible. It might mean having to make a little more effort and having to live life in a more grown up way, but it’ll all be worth it in the end. It could be the next step in life that you really need to take right now.

But why is it so important to plan ahead like this? What value does it have and what kind of a difference will it make in your life? These are all good questions and we’re going to take the time to answer them right now, so read on to find out more.

All Families Require Some Planning

Whether you’re already a family man or woman, or you’re looking to start a family with your partner sometime soon, you need to do some planning. Families require planning and children always require structure in one form or another. You’ll struggle to create a positive family environment for everyone in your household if you don’t make any attempt to do any planning. Things tend to turn out better and tend to be less stressful when you plan them out a little.

Successful People Plan Ahead

You’ll find that many of the most successful people in the world take time to plan ahead in life. That’s how they achieve the things they want to achieve. They set goals for themselves and gradually get closer to where they want to be. There’s no reason why you can’t do the same, as long as you’re willing to plan for success and adopt a long-term perspective. Your own success really does depend on good planning.

Live in the Moment Later

People often say that planning ahead takes the fun out of life because it prevents you from living in the moment, but that’s not really true. By planning ahead now, you make it possible for yourself to live in the moment later. You can enjoy spontaneous moments more when you plan ahead and make sure that everything is in place that needs to be in place for your enjoyment.

Be Ready for Future Financial Challenges and Surprises

There are lots of things that can happen in life, some of them good, some of them bad. But being ready for them is important. You should always have some money set aside so you can deal with surprises. As these prominent statistics, having money set aside for long-term care as you enter old age is vital. That’s just one example of how you need to plan ahead and be ready for what life throws at you.

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It’ll Probably Save You Money

You’ll probably manage to save yourself a lot of money by planning ahead too, and that can only be a good thing. When you’re able to spend less while still enjoying life to the max, it gives you a great sense of accomplishment. None of us can afford to throw money away and by planning things ahead in life, you don’t have to. When you are less careful to plan ahead, your finances will be less controlled too.

Become More Proactive and Stop Coasting Along

Many of us are guilty of coasting along in life and not really being as proactive as we should be. Rather than feeling guilty about it and then carrying on as ever before, you should make the decision to be more proactive, which will also mean planning ahead a little more than you’ve been used to in recent times. It’ll be a positive move for you in all sorts of ways.

Life Planning Leaves Room for Changes and Updates

It’s a common misconception that planning ahead in life has to mean throwing away the ability to change course in life. In fact, the opposite is closer to the truth. By planning ahead, you give yourself more scope to change and update your plans when you feel the need to. It means you’re able to make the right kinds of changes when the time is convenient for you and your family to do so.

Living life in a haphazard way might seem fun and exciting for a while, but it only takes you so far. If you really want to make the most of life and get the most out of it, it makes more sense to plan ahead and prepare. It might sound boring but it’ll benefit you and your family in so many important ways going forward.

What Are Your Financing Options When Buying A New Car?

Buying a car is a big decision and it’s important that you spend enough time finding the perfect car for a good price. But it’s not just about the car either, you need to work out how you’re going to pay for it. There are a lot of different financing options for a car and they all have their own benefits and drawbacks. You need to think about your own financial situation and try to work out which option is best for you. The problem is, a lot of people don’t really know where to start and they don’t fully understand how all of the different options work. If you’re buying a new car soon, read this list of your different financing options and the benefits of each one so you can make an informed decision. 

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Paying in Cash

The best option when you’re buying a car is to pay for the whole thing upfront in cash. If you can save up the money to buy the car without having to get financing from anywhere else, you’ll save yourself quite a lot of money. Firstly, you won’t have to pay any interest on a loan and over time, those interest payments can really add up. Secondly, most car dealerships will offer a cash discount so you can usually get a better price on the car. Even if you can’t pay the full price in cash, putting down a big deposit and reducing the amount that you need to borrow is always a good idea. 

If you are going to pay in cash, there are a few important things that you should keep in mind. It’s not a good idea to spend your entire savings account on a car and leave yourself with absolutely nothing, because you may need that money in the near future to pay for other emergencies. Only buy the car with cash if you’ll have enough left over as an emergency buffer, otherwise, you could land yourself in some serious financial trouble. Even if you do have the cash to pay for the car, it might be best to put it on a credit card and then pay the balance off right away so you can benefit from credit card purchase protection. 

Cash is the best way to pay for a car but the majority of people don’t have that kind of money lying around, so you’ll need to look into some of your other financing options. 

Trade-In Value 

If your old car is still in relatively good condition and it’s still worth a bit of money, you should consider trading it in. If you trade the car in, you’ll get a significant amount of money to put towards your new car, which makes the cost a lot more manageable. You might find that you have enough cash to cover the cost once you factor in the trade-in value, which is great news. Even if you don’t have the cash and you’re going to take out a loan, trading it in will reduce the amount that you need to borrow so you can pay it off quicker and save yourself some money on interest payments. Trading in isn’t always the right option so you should check out these trade-in tips to see whether it’s a good idea or not, and help you to get the best price for it. If the car is costing you a lot of money in repairs and it’s a bit outdated, it’s worth trading it in. However, if you still owe a lot of money on your current car loan, trading in won’t get you that much money once you’ve paid off the rest of the money that you owe on it. 

Personal Loans

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If you need to borrow some money, a personal loan is often one of your best options. If you can get a loan from your bank or building society, you can spread the cost of the car over an extended period, usually somewhere between 1 and 7 years. If you shop around some different lenders, you can get a good interest rate on a personal loan and it’s usually the cheapest option aside from paying in cash. You can get a loan to cover the whole cost of the car and it’s easy to arrange, sometimes over the phone or even online. However, there are a couple of downsides to getting a personal loan. Sometimes, you won’t get the cash paid into your bank right away so you’ll have to wait a while. The monthly costs are often higher than other options as well, even though the overall cost of the loan is lower. But as long as you can afford the monthly payments, it’s probably your best option. 

The only issue is, a personal loan is dependent on your credit rating. If you have a good credit rating, you should be able to get a loan with a good interest rate quite easily. But if your credit rating is bad, you might struggle to get a loan at all and if you do, the interest rate will not be very good. You may be able to get a better interest rate if you secure the loan against your house but that isn’t usually a good idea because you’re putting your home at risk if you can’t afford to make the repayments. If you’re going to go for a personal loan, it’s best to pay off your debts and spend some time trying to improve your credit rating first so you’ll get a better deal. 

Hire Purchase 

Hire purchase agreements are a way of buying the car on finance but you don’t actually own the car until you’ve made the final payment, up until that point you’re just renting it. You’ll pay an initial deposit on the car, usually around 10 percent, and then make monthly payments until you’ve paid off the rest of the cost of the car. The hire purchase agreements are usually made with the car dealer, so they’re quite convenient and you don’t have to go and find separate financing. A lot of people like to go for a hire purchase agreement because it’s easy to arrange, however, you should shop around a few different dealers to see who is offering the best rate. The payment terms are usually quite flexible, ranging from 12 to 60 months in most cases, so if you want to spread the cost out a bit more, you can. The interest rates are usually very competitive and they’re fixed so you don’t get any sudden price increases further down the line. The only downsides are that you don’t own the car until you complete all payments, which some people don’t like, and they tend to be more expensive if you’re going for a shorter payment period. 

Personal Contract Purchase 

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A personal contract purchase is quite similar to a hire purchase, however, you don’t get a loan for the full price of the car. You get a loan for the difference between the cost of the car brand new, and it’s predicted value at the end of the payment period. At the end of the payment period, you have 3 different options; you can trade the car in for a brand new one and start a new personal contract purchase agreement. Alternatively, you can return the car and pay nothing, then start looking elsewhere for a new vehicle. Finally, if you decide that you want to keep the car, you can pay one final payment, called a balloon payment, and then you will own the car. Just keep in mind that the balloon payment can vary quite a lot so it might be a few thousand but it could also be tens of thousands. 

If you like to update your car regularly, a personal contract purchase is the ideal financing option for you. It’s also good if you’re not quite sure about a car and you want the option to return it at the end of the period if you decide that you don’t like it. You get a low deposit and the monthly repayments tend to be quite low, but the overall total can be quite high. The resale value of the car is also based on an average mileage and if you exceed that mileage, you may have to pay an excess fee. There will also be fees for minor damage like scratches and dents if you decide not to keep the car at the end of the payment period. 

Leasing 

When you lease a car, you never actually own it. You pay a fixed monthly cost for the use of the car, and that includes all of your maintenance and servicing costs as well. At the end of the agreement, you simply return the car and start a new agreement with a new vehicle. That means that you can plan for the cost easily because it’s fixed and any repairs are handled by the dealer. However, there is a mileage limit that you have to stick to and the monthly costs are higher because they include all of the maintenance. 

There are a lot of different options for financing your car and they all have their own benefits, so it really depends on what your financial situation is and how you use your car. 

How Should You Plan For Retirement?

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There comes a time in all of our lives when we must consider retiring. We can’t work forever and eventually we will need to consider living a life without income. Or do you? Retirement has changed, it's not like it used to be. Now you have countless options for how you want to live your life in the twilight years. It's all about how you plan your own finances when it comes to the lifestyle you will have when you’re older. The question that begs for your attention is, how should you plan your retirement? Well, you need some kind of stable income to keep trickling in, you need to hold onto your hard assets and also, consider what kind of state pension rules apply to your situation? Most of the time, you would wish for your budget needs to be taken care of by yourself. You won’t want to have to rely on the state to fund your weekly grocery shop or help pay your bills. So be prudent, consider your options carefully.

Look to Warren Buffet

As mentioned before, retirement is nothing like it used to be. You don’t have to take life slow, sit at home and have your meals cooked for you. Take a leaf out of Warren Buffet’s book. He’s a billionaire investor that is in his late 80s and is still working full time. He advises everyone, no matter if you’re young or old, to invest smartly. He recommends index funds be your first choice as they are incredibly balanced, continuing to turn a profit each month and year but also minimizing as much risk as possible. Index funds are not that complicated. They are simply an economic folder or rather portfolio of different businesses and their stocks. You have your money spread around evenly, so you have your fingers in all the pies. If one stock would decrease in value, another is more than likely to bounce up. This means you minimize loss and give yourself a great chance of making a consistent profit.

A similar situation

If you would rather take things slow and more or less have routine in your life, then consider this retirement home. It's a place where you will have your own apartment which has also been newly renovated. The decor is modern and also allows you to move around freely. There is a 24/7 emergency healthcare on standby so if you have any health complications in the night, the staff will arrive in no time. There’s also fresh food prepared every day and you’ll be surrounded by other people in the same situation of retirement. The retirement community is situated in a garden so you have fresh air and wildlife right outside your window. Consider what kind of package you want and contact them to speak about your preferences and see if they can accommodate you.

If you want to be financially independent you should consider doing what Warren Buffet says. Search for an index fund firm which can spread your money around evenly and maximize profits.

Is An SIPP Right For You In Retirement?

You may have heard of the term ‘SIPP’ several times before but are confused regarding what it is and whether it is the right move for you or not. This article is here to put all of those answers to bed. So, let’s jump right in…

SIPP stands for Self Invested Personal Pension. This is a popular pension plan because it allows the holder to choose and manage their investments effectively. Most traditional pension plans don’t offer this, they actually tend to limit investment choice and that’s why an SIPP presents such an attractive alternative for many.

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Nonetheless, like any other type of pension plan or UK pension transfer this is something you need to think about extensively to determine whether it is right for you or not. No matter whether you’re moving to America and want to see your retirement out via luxury retirement community or you’re thinking of exploring somewhere new like Asia, your pension is going to need to be considered. So, let’s look at the benefits of an SIPP and why you should consider this option… 

First and foremost, one of the reasons why SIPPs are recommended is because of the substantial tax benefits you will gain. Of course it is important to bear in mind the fact that tax is always variable. It is based on the account holder i.e. your circumstances and there is always the possibility that it could alter as time passes. Nevertheless, let’s take a look at some of the tax benefits you could possibly reap…

• You don’t actually have to pay tax in order to benefit from a full basic rate tax relief on your personal contributions. This is capped at up to £3,600 per tax year. 
• You will automatically receive a basic rate tax relief on all of your contributions to your SIPP. 
• When you reach retirement you will benefit from tax breaks. If you are over the age of 55 you will have the possibility of taking up to a quarter of your pension pot and the good news is; this will be a tax free lump sum.
• This is not the only retirement tax break. You also have the security of knowing that your dependants will receive your entire pension account if you die before taking any benefits from it. They will get this as a lump sum which is free of tax. 
• There is no income tax or capital gain tax on your investment returns. 
• Higher-rate or additional rate tax payers can also claim back more tax relief. 

Aside from this, another key benefit associated with a SIPP was touched upon earlier in the introduction and this is the fact that you will gain from a huge selection of investment options. This encompasses all of the following; unlisted shares, commercial property, individual company shares, corporate and government bonds, investment trusts and investment funds. This really gives you the opportunity to make the most of your pension plan and use it to your benefit. 

It is quite clear to see why SIPPs are recommended. If this is something that sounds appealing to you, you should make sure you hunt down a quality financial advisor who can help you to assess your options and find the right SIPP scheme for your needs specifically. 

Equipment Every Modern Police Department Needs

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In today’s ever-evolving world of policing, departments constantly have to upgrade their procedures and equipment. Providing your department’s officers with up-to-date equipment allows them to feel more secure on an already stressful job.

Police Shields

Ballistic shields protect officers during riots and SWAT raids. As these scenarios unfortunately become more frequent, departments across the globe have adopted police shields to better outfit personnel. Even civilian members of the public can find a reliable ballistic shield for sale to provide personal protection.

Protective Vests

Weapons pose a direct threat to the lives of officers if in the wrong hands, making protective vests a must for any department. Vests primarily come in two forms. Ballistic-resistant vests protect vital organs of the torso against firearm ammunition. Stab-resistant vests, utilized primarily by correctional officers, protect against knives and other types of melee weapons. Some protective vests can combine both features to safeguard officers from a variety of threats.

Body Cameras

More and more departments nationwide are adopting officer-worn body cameras to not only convey transparency and accountability to the public but also to document evidence easier than relying on testimony alone. Body cameras can also allow department heads to provide better feedback on officer actions.

Equipment To Aid in Arrests

A wide range of equipment exists to protect officers as they make arrests — all without drawing a firearm. Tasers, stun guns and pepper spray can safely immobilize suspects without violent force. For car chases, placing physical barriers or road spikes on pavement can slow down or stop a pursued vehicle before it endangers the lives of pedestrians and other drivers.

As threats to officers continue to increase each year, police departments must adapt to evolving ideas of fighting crime. By investing wisely in equipment upgrades, you can ensure your men and women in blue continue to serve their communities to the highest of standards in safety and ethics.

Private School Doesn't Have to Drain Your Finances

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It may seem like a struggle to come up with money to pay yearly tuition for your child's private school education, but it doesn't have to be. There are luckily ways in which you can ease your family's financial burden while still giving your child the benefits of private education.

Save Early

If it is important for you to send your children to private school, start saving while your children are still very young and not yet attending school. For example, if you live in the King County area of Washington State and want your children to be able to attend Sammamish private schools, look up the tuition cost for the private schools in your area and make it a goal to save a specific amount based on your research before your children are school age. The earlier you start saving, the better, so as soon as you know that you want to save money to put toward your child's education, put a certain amount of your income each month into a savings account to be used only for this purpose.

Research Financial Aid Options

Financial aid for private school tuition is available to qualifying families in many states. Aid is awarded by the state and sometimes even by the specific educational institution itself depending on need and other factors. The Jack Kent Cooke Foundation is one institution that awards financial assistance in the form of grants and scholarships to young students who excel academically or artistically and are in need of aid. If you apply for types of financial aid that your child may qualify for, you may be able to receive assistance that will help you save thousands of dollars every year on tuition for your child's private school education.

By utilizing some planning and resources, you can set aside adequate finances for your child's education as well as save money on tuition. This way, you may be able to pay for private school without breaking the bank.

Make Buying A Used Car Stress Free With These 6 Tips

When public transport just won’t cut it anymore, buying a car seems like a savior in comparison. You don’t have to worry about your personal space being invaded, someone sitting close by eating a tuna salad, or babies crying within arm's length of you and so on. Your own car is likened to your own mobile home. It should be comfortable, protect you from the elements, and if your budget will allow, provide a few luxury gadgets for you to engage with on your journeys. But above all, your own car means freedom and saving time spent waiting for the bus/train to arrive, and last, but not least it also means you can give back to the world by helping your family and friends when they need you the most. If you’re not too interested in the idea of buying a brand new vehicle, a second-hand car could be your ticket to freedom that won’t leave you strapped for cash. Whether scouring for cars online or taking a look at used vehicles from local dealerships, here are a few essential tips to use to your advantage when buying a second-hand car which gives you some structure on what to assess when buying and what to use to your advantage when haggling.

Test Drive

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Taking your potential car for a thorough test drive could help you to weed out any problems sooner rather than later. Use your test drive as a time to figure out if the car is, of course, comfortable to drive, but also listen out for any mysterious knocks and bags that sound out of the ordinary. It’s essential to turn down the music system, and if possible drive somewhere that is quiet. If you notice that the gear stick is getting stuck, the brakes feel spongy, or the clutch is exceptionally high, save a mental note of the issues, and a real note when you get chance to write it all down. This will come in handy later on to negotiate down the price of the car if you choose to buy it later on. Or alternatively, lead you to another second-hand vehicle where there appears to be little to no work to have to tend to.

What’s Included?

While maintaining your poker face, and not appearing too interested in a car that you may very well of fell in love with at first sight, if the vehicle you are looking at is from a sales lot, query precisely what is included with the car. This could mean a full service, a few months warranty, or maybe just an air freshener. Either way, it’s handy to know, and again will help you make your decision when the time approaches to assess if the car is the right fit for you.

Warranty

Another note to be wary of is if a warranty is included, assess what this entails to avoid having to pay for urgent issues that could crop up from the car. For instance, does it cover engine, gearbox, mechanical issues or more? Also, who will the warranty company be? Checking there is a legitimate warranty in place for your car, will provide you with peace of mind for the months following your car purchase.

Under The Hood

Providing the car has been switched off for a while, giving the fluids under the hood a chance to settle, you can pop the lid and take a look at how the car is performing inside. Whether checking the level of oil in the engine (plus the color and consistency), the hydraulic fluid, and the engine coolant. If any of the fluids are particularly low, or there is liquid on the floor underneath the car, this could be a warning sign that one of the fluids are leaking. If this is the case, be sure to bring it to the owners/car salespersons attention.

Car Paperwork

Unlike new vehicles, second-hand cars will sometimes arrive with a pack of history kept and passed down from the original owner. This should entail receipts for car repairs, service history, and whether the car has been in an accident. The premise of checking the paperwork is to give you an idea of what the future of owning this car might look like to avoid any stressful pitfalls that could have been avoided. For instance, regular issues that keep occurring, for example, headlamp positioning problems, issues with the electric locking system that recur throughout the car's history and so on. Keeping your wits about you when looking at the vehicles past will enable you to paint a better picture of the car you are thinking of buying. This will help steer you in the right direction of whether buying a particular car is the right decision, or whether it may amount to more stress in an attempt to rectify the reoccurring issues.

Running Costs

Choosing an old car with a large engine may initially look, sound and drive amazing, however, it may not be the most affordable option, not just in terms of buying but also in running it throughout the time you wish to own it. So don’t shy away from asking the owner or salesperson what the gas usage is like on the car you’re interested in, how much it costs to service, and how much you can expect to pay for simple upkeep for the vehicle such as an oil change from Telle Tire and tire changes. This will help you arrive at a conclusion on whether you can afford the car you wish to buy and help you to avoid straining your finances.

The Price

In most cases, unless stated otherwise, there is usually some room for negotiation involving car sales by private owners and car salespeople. Now that you’ve collected all of your information about a particular car you wish to buy, you may want to try pushing down the price or alternatively asking for some extras. You can do this by identifying issues you’ve noticed about the car that were not mentioned in the advert, also don't forget to mention similar cars you’ve seen for sale at a better price. The key is, to be honest about what you’ve found out about the car and see if the seller may budge the price tag. If they do,  you’ve saved yourself some extra money and relieved some of the stress it takes to buy a car. Where some sellers may be unwilling to budge on price, you can always ask if they may give you an extended warranty. In this situation, the worst thing any seller can say is no.

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So there you have it, a few tips to help you with buying your second-hand car in a stress-free way. The general idea is to collect as much information about the vehicle that you are looking to buy. This is to see if it’s worthy of taking care of you on the roads, to make sure that it won’t cost you a lot of money in the future for issues that were overlooked, and that you’re getting a fair deal. Taking steps towards making the right decision for buying your second-hand vehicle, will provide you with happy months and maybe even years to follow.

Health Insurance And Annual Limits

When taking out an international medical insurance policy there is a lot to take into consideration. Not only do you need to be sure that the policy is right for you in terms of cover and benefits, but you must be fully aware of all of the terms and conditions that are in place. One of these conditions will be an annual limit. All global health insurance plans have an annual limit in place. Read on to discover everything you need to know about this…

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What is an annual limit?

This is the maximum amount of money an insurer will agree to cover you for per year. For example, if your annual limit is $60,000 then the insurance company you use will only cover medical expenses up to this amount. Anything in excess of $60,000 you will have to fund yourself. 

Why is it important to carefully consider your annual limit?

A lot of people make the mistake of underestimating medical expenses when it comes to taking out international health insurance. However, you could easily find yourself in a situation where you are faced with a massive bill. 

Let’s say you suffer a serious injury or illness whilst on vacation or even in your current place of residency. You go to the hospital only to discover that you cannot get the treatment you require there. As a result, you have to go to a hospital in a nearby state or even a different country. In the end, you will need to pay for the care and support you received in the country you were in whilst you were taken ill, as well as the cost of an air ambulance and treatment in the location you received the necessary help. 

This could easily amount to costs in excess of $60,000 – if that was indeed your annual limit. As a result, it is pivotal to consider your annual policy limit with a great amount of care to ensure you do not need up in such a scenario. 

You also need to have a high annual limit if you have an existing health condition. Let’s say you have hearing loss. You are going to be likely to need checkups throughout the year and hearing aid devices. You need to ensure that your policy is going to cover all of this. 

All in all, your policy’s annual limit is just another factor you need to consider when you are looking for the right worldwide medical insurance policy. You should analyse your policy with a scrutinizing eye before agreeing to it. Many people rush into buying international health insurance and unfortunately it is something they live to regret when they discover they are not covered to the level they had expected. 

Things To Consider When Buying An Older Home

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Older homes have a certain amount of charm and character that new ones simply don’t have, so it’s definitely easy to see why they’re such a popular choice for people who are looking for a new home, and even why a lot of newer homes are built using the style of older homes as their inspiration.

However, as beautiful and full of character as they may be, they also come with their own challenges just like a newer house does, so it’s really important that you take the time to understand what exactly you’re getting into when you buy an older house and if you’re ready and willing to make the time and energy commitment to it.

So, in this post, we’re going to share with you some of the things to consider when buying an older home.

Safety checks:

Unlike newer homes that have to be built with the latest health and safety standards in mind before anyone can even buy them, older houses may not benefit from those standards unless they were completely renovated and checked over within the last 10-20 years and upgraded, so you’ll need to make sure that your home is free from things like asbestos, doesn’t have any lead paint or other toxic substances, and it will also need to have things like the plumbing, pipework, and electric systems checked over to make sure they’re safe for living. 

Insurance costs:

Insurance is something that every home owner should have, and although the cost of it will vary and depend on different factors, the monthly premium you pay is definitely going to be worth it if you ever need to use that insurance since the cost of repairs or replacing things will be a lot higher. 

However, one of the factors that will determine how much you pay for insurance is going to be the age and condition of the house when you buy it, so since the chance of an older house needing more work doing to it is going to be a good bit higher, then the insurance premiums will be reflected in this.

Energy efficiency:

Nowadays homes are built with the latest energy-efficient standards in mind, however, many older homes won’t have been built that way or won’t have been updated to reflect them, so it’s really important that you consider this and then look at your options for bringing your home up to the latest standards of energy efficiency. Not only will it help keep your monthly bills lower, but will be better for the environment and also make your home more comfortable. You should also look at things like how well insulated your house is so that you can take the measures to update this and ensure you’re actually keeping heat in during the winter. 

Being energy efficient certainly doesn’t mean that you need to give up the original features of your house such as hardwood floors, bay windows, and even a chimney if you’re lucky enough to have one - you can still keep these original features, but just make sure they’re in line with modern standards when it comes to health and safety and energy efficiency. The best way to get advice on how to do this is to speak with professionals in each of these areas, such as a company like Capitol Chimney Sweeping Services, as well as a glazier who can come in and give you tips about the best ways to care for your windows and keep them well insulated.

Renovation costs:

One of the best things about older homes aside from them having lots of original features is that they’re generally going to be a good bit cheaper to buy than a newer one would be, but the downside to that is that the costs and need for renovations is going to be a bit higher. However, if you’re okay with this and are prepared to put in the work, then the upside is that you’re really going to be able to make the house exactly the way you want it and it can be far more rewarding than going in to something that’s been done by someone else.

When it comes to buying an older house, you should always consider this as part of it and make sure you factor the additional renovation costs into your budget when deciding how much you’re able and willing to spend on the place you want to buy so that you’re not going to be stuck with unexpected costs.

Beginner Goals All First-Time Investors Need

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It is wise to seek expert advice on the market and when the best time to invest is. You can consider the likes of Kevin Canterbury Arizona, for this. Then, you can make all of the right investment decisions and make sure your investments pay off.

Delving into the world of investing can be quite scary for most beginner investors. That’s because there are a fair few risks involved - sure, you could make some big returns on your money, but there is also the risk that you could lose some of your cash too. In fact, it is entirely possible that your investment’s value could be wiped out completely. Thankfully, though, you shouldn’t have too much to worry about if you research all of your investment opportunities carefully and are careful with where you place your money.

There are also a few goals that you should have in mind for your first-time investments as well. These can help you maximize your returns and increase the profits made on your money. As well as that, they should also help you stay away from most of the potential risks as well. Read on to find out more!

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Think About The Short And Long Term

When you start thinking about your investments, you will need to consider some goals and targets for the short and long term. Once you come up with some goals for each time frame, you will then have a much better idea of how to invest your money. For instance, if one of your short-term goals is to just save up enough money to be able to afford a vacation, then you should start putting away some money into a high-interest bank account every month. However, you will need some long-term investments for long-term goals, including retirement and leaving a financial legacy for your family. In this case, the best way to invest your cash would be in safe investments like property and a pension.

Create An Emergency Fund

It’s also essential to set up an emergency fund for you once you do start to gather together some savings. This should be placed in an easy access high-interest account so that it can accrue as much interest as possible. It should also be kept separate from your other savings so that you don’t end up mixing them. The money in your emergency fund should be used for just that - emergencies! You’ll be able to dip into it whenever you need to make any repairs in your home or if you have to pay for any unexpected medical bills. Having an emergency fund such as this will prevent you ever slipping into the red because of an unexpected emergency.

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Start Off With Some Tracker Funds

When you are looking for some investments for your money, a good place to start off with is tracker funds. These types of funds are usually very affordable, so it’s easy for people with just a small amount to invest to get started with them. The funds are called “tracker” as they track the indices of major stock markets, like the FTSE 100. As there are fund managers who look after the funds on your behalf, these are considered to be a passive investment. You simply hand your investment over and can then sit back while the managers do their job and look after your money. So, as you can see, they are also very easy to manage as you will have little to do. You simply pay your money and then alert the investment platform when you are ready to withdraw your money.

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Diversify Your Portfolio

When you do start to look for a few more investment opportunities, it is necessary that you try to diversify your portfolio as much as possible. One of the main reasons why diversification is the key to a successful portfolio is that it means splitting up your money into different investments. This can greatly protect your money. That’s because you won’t lose everything if just one investment loses value. Hopefully, all of the investments that are doing well will help to prop up your overall investment, so you shouldn’t have to be too worried about the one or two investments that aren’t doing that great. In order to diversify your investments, you just need to put your money in different types. So, you might want to invest in property as well as stocks and funds. It’s also important that you find investments that are in different industries and international markets. 

Consider Branching Out Into Cryptocurrencies

When you are thinking about diversifying your portfolio, you should think carefully about whether or not to put your money into cryptocurrencies. This is a new modern investment opportunity that has opened up just a few years ago. If you want to find out more about the development of these new currencies, you should check out https://blockchain.intellectsoft.net/blog/cryptocurrency-development-and-types-of-cryptocurrencies/ for more information. One thing that you need to remember when thinking about throwing yourself into this new world of cryptocurrencies is that they can be very volatile. Sure, you could stand to greatly increase your investment, but there is also a very real risk that you could end up losing a large chunk of your investment as well.

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Make Your Investments Tax Efficient

Don’t forget that you will need to ensure that your investments are tax efficient. If you do very well and end up making quite a bit of money with your investments, you might have to start paying tax on the profits. Thankfully, there are a few ways you can get around this. For starters, it could be worth hiring an accountant such as one of the ones listed on https://clutch.co/accounting/boston. They will be able to give you lots of great advice on how to shelter your investment profits from the tax man.

Find Yourself A Financial Adviser

If you enjoy investing your money and want to take it even further, it could be worth hiring a financial adviser. They will assess your financial situation and figure out the best kinds of investments for you. Most advisers will also manage your investments too, so you don’t have to worry about continually checking on them.

So, are you tempted to start investing now?

Build Your Savings and Make More Money

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Your bank account is something that can cause you the highest amount of stress in life, or it can ease any worry that arises in your mind. There are some good ways to transition from the stress-based way of living with your finances to the confidence of someone with healthy numbers in their account. Here we are going to take a look at some of the things you might want to consider when it comes to looking after your money. 

Savings

The first area of finances that we are going to look at is the way you can save money. Contrary to popular belief, this doesn’t mean that you have to cut out the things you enjoy in life or settle for subpar services. No, there are ways that you can save money while still getting what you want out of your expenditure.

To do this, you should address one of the elephants in the room of any household, utility bills and costs of subscriptions. If you haven’t been using comparison websites to help reduce expenses already, then the time has come for you to load up one of these sites and get comparing deals to bring down your outgoings. You might think that you can’t make that much of a saving, and you would be wrong. Utility companies and internet providers are clamoring for your business and will offer all sorts of discounts to new customers. And one of the great tricks is taking your new offer to your current provider to see if they will match or beat it - customer retention is a big target for most businesses in this day and age of mass competition so it is worth your time challenging their prices. 

You will quickly find that once your bills start to come down, you will have excess cash leftover at the end of the month. 

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Investments

Now if that is how you can save money, how about making more? Getting involved in the investing world is a good way to start increasing your savings from being sat in a bank account to being something you can build a future with. The problem for a lot of people when it comes to investing is they don’t know where to start and need help. Well for those of you who want to get involved in investing your hard earned and saved cash then consider automated trading to get you going. 

There are many types of investing that are open to you and finding the right one is all about doing your research and settling on where you feel comfortable. For example, someone who is in touch with current affairs around the world might find that investing in foreign currency markets is the best place for them. Whereas someone who isn’t confident on being able to track fluctuations in exchange rates might prefer to look into dividend investing where you buy stock in companies that historically pay out a good dividend each quarter. 

Don’t be deterred from investing just because your knowledge of the industry isn’t particularly high. You can learn with small investments and build your portfolio up over time. 

6 Major Mistakes You Must Avoid When You Buy Property

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Buying a new home is an incredibly exciting process, especially if it’s your first time. Between choosing the perfect area and viewing all of the great houses, it’s easy to get caught up in the fun. However, as enjoyable as this task can be, it’s also very complicated and confusing, which can lead those less experienced to make a number of huge blunders. To save yourself the unnecessary cost and worry when buying property, here are six major mistakes you should avoid.

1. Buying Before You’re Ready

Buying property is a decision that shouldn’t be taken lightly. It’s one of the largest transactions you’ll ever make and has the power to affect the rest of your life. Because of this, you should ensure you’re definitely ready to buy a house before you jump into the process. As frustrating as renting can be at times, it is the best option for those that need a little more flexibility. 

2. Not Getting Pre-Approved

Online mortgage calculators can be of great help when determining how much money you can borrow. However, you shouldn’t just assume you’re going to get approved for that amount. Many loan applications, especially those for an itin loan, are denied each year. To put yourself in the best position for negotiations, you must ensure you get pre-approved before you start to bid. 

3. Shopping Without An Agent

With property sites and online listings at your fingertips, no one would blame you for questioning the use of a real estate agent. That being said, they are incredibly beneficial, saving you time, money, and worry with their knowledge and support. What’s more, it is the seller that pay realtors fees, not the buyer, so there’s no reason why you shouldn’t have a professional at your side. 

4. Underestimating The Full Cost

Unbeknownst to many first-time buyers, a mortgage loan doesn’t actually cover the entire cost of buying a property. There are a number of expenses you’ll need to pay yourself, including a down payment, loan application fees, mortgage insurance, and more. You must ensure you have enough money saved up to cover these costs, or your plans could fall through. 

5. Skipping The Home Inspection

Home inspections, though often costly, are utterly invaluable in your property buying process. Though there’s the chance you’ll pay out for little to nothing, it’s also possible that an inspection will spot a major issue that could have caused you problems later down the line. This allows you to negotiate a better deal or walk away from a bad one. 

6. Settling Out Of Desperation 

The process of finding and buying a house can go on for months, and sometimes even years. This can cause a great deal of frustration, that causes desperate buyers to settle for a home they’re not entirely happy with. Instead of leaving yourself in debt, and with a house you don’t like, you should take a break for a while and start looking again when you feel up to it. 

Buying a property is a major transaction, so ensure you do it right by avoiding the mistakes listed above. 

6 Things You Should Do Before You Even Consider Buying Property

Buying property should not be taken lightly, and yet many people are entering into this expensive and complicated contract just because they believe it’s the ‘done thing’. Being a property owner can be a great feeling, but not if you struggle to keep up with mortgage payments because you’ve bitten off more than you can chew. Let’s take a look at 6 things you should do before you even consider buying property:

1. Check and Improve Your Credit Score

If your credit score isn’t right, you’ll seem unreliable and nobody will want to loan you money. If you’re not sure what state it’s in right now, this isn’t a good start. You can check it for free with Experian, TransUnion, and Equifax. Make sure you fix any mistakes and ensure you’re not being penalised for settled/paid debts, as this can happen sometimes. Ensure there are no mistakes and get your credit score in the best possible condition before moving on.

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2. Know Exactly What You Can Afford 

If you’re going to buy a property, you need to know exactly what you can afford. Use a reliable calculator online to help you. However, you should remember; just because you’re being offered a certain loan amount doesn’t mean you have to accept the full loan. If you bite off more than you can chew and you end up not being able to pay off your mortgage, you’ll need someone who can help you with law covering real estate to come up with a solution so you can stay in your home. 

3. Have A Healthy Amount In Your Savings

You shouldn’t be living payday to payday, and if you are, banks will not want to give you a mortgage either. You’re going to need money put aside for home fixes and unexpected costs. You don’t want to have to take out a loan or loan money off family every time something happens - and things will happen, it’s just a matter of time. A healthy amount in your savings will give you peace of mind and keep you out of debt. 

4. Research Renting/Buying In Depth

Now, it’s also important to note that buying isn’t for everyone. You should research both renting and buying in depth to figure out what suits your situation best. For some, renting can even be a permanent solution depending on their life goals. 

5. Know Exactly What You Want Out Of A Property

You should know exactly what you want out of a property before you start looking. Knowing what is non-negotiable for you will help you to narrow down your search. You should also remember that if you’re going to live in it, you’re likely going to want completely different things than if you were to buy it and let it out. If letting out a property, you’ll want to consider your target audience. 

6. Think To The Future 

Could your situation change? Do you want kids, a pet, or are likely to move to a far away place with work? Think of every eventuality to make the best decision! 

Thinking Outside The Box When Buying Your First Home

Buying your first home is a challenge for many young adults. Indeed, property prices have been increased gradually over the past few decades, making it more difficult for the Millennial generation to become homeowners. 

However, while property values are going up, it doesn’t mean that the only way to buy a house is to win the lottery! In reality, the property market has evolved dramatically, meaning that the strategy your parents and grandparents used to reach the first step of the property ladder is not relevant anymore. 

Nowadays, homeowners need to embrace their creativity and think outside the box to achieve their objectives. Therefore, the big challenge about homeownership is your ability to find solutions in the least expected places. 

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Lesson #1: You need to secure some cash

Let’s focus first on the elephant in the room. A house comes at a high price, meaning that your top priority is to ensure you’ve got enough cash to afford both your down payment and your monthly mortgage. To put it clearly, while the obvious solution is to save money, you need to consider your budget with a pinch of salt. Indeed, there’s only so much you can save. Therefore, if you’re planning to buy your first property in the near future, you might want to check the possibilities to get a promotion at work. Indeed, who says promotion, says pay rise, and that is precisely what you want. If your employer provides no chance of a promotion, it’s time to change jobs and find a business that provides you with better prospects. Securing higher wages can go a long way toward affording your first home. 

Lesson #2: Your banker is not always the best interlocutor

While the majority of homeowners turn to banks when it comes to applying for a mortgage, there are others options that can make it easier for borrowers with an atypical credit history to qualify for a large loan, such as mortgage brokers – check Altrua Financial to find out more about the rates a broker can get you. As a rule of the thumb, brokers have access to a wide variety of loan options. 

Lesson #3: 4 miles, it’s nothing and everything

Real estate agencies compile a selection of criteria to define the value of a property. One of these criteria is the location of the property. Indeed, two houses in the same general condition could show up under different prices as a result of where they are. If you want to land a cheaper property, you might need to be ready to commute. A few miles outside of the premium radius can save you tonnes of money! 

Lesson #4: You can do anything with a hammer and a screwdriver

Ultimately, a house that needs improvement works will come out at a lower price. If you boost your DIY skills, you can actively tackle the most common DIY challenges, from bathroom remodeling to refreshing the wall paint. In the long term, investing in the appropriate tools and skills can give you access to further properties. 

It’s time to revolutionize the way you are approaching the property market. From considering financing options to rethinking your career, you’re in control of your investment.