October 2013

Should You Have a Money Rule to Give to Charity?

Do you give money to charity? You’re not alone. In fact, the National Philanthropic Trust and the Center on Philanthropy at Indiana University found that 88% of all American households give to charity. And, the average annual gift to charity is over $2,200 per family. We are a nation of givers. Giving is an important step in our own personal finance journey. There is a reason why Dave Ramsey includes it in his last baby step of his popular book, The Total Money Makeover. Author Mary Hunt also lists giving as a money rule. It is one of seven in her book, 7 Money Rules for Life: How to Take Control of Your Financial Future. Should You Have A Money … Read more

Tips To Selling Your House Quickly When You Need The Cash

by Guest Contributor

The following is a guest post on Money Q&A. Would you like to write the next one? If you would like to write an article for Money Q&A, please visit our Guest Posting Guidelines page.

If you are considering selling your house quickly and you need a quick sale on the open market, there are a two things that will attract potential cash buyers to your sale, appearance and pricing.

If a cash buyer is looking for a good deal on a property, be it for investment or for their own residential home; usually there first priority is getting the price right, and finding a bargain. If you can price your property effectively and undercut other properties in your area, you are well on your way to getting the cash sale that you desperately need.

If you don’t want to give out huge discounts on your property in order to sell it, there are other ways you can entice buyers with pricing. How about agreeing to pay their legal fees for them? Or gifting them surveyor costs? Anything that you do to make your price more attractive will surely send buyers flocking to your property sale.

Selling Your House Quickly When You Need Cash

Realistic Pricing Matters

Getting the valuation right on your home in the first instance is crucial when you need a fast house sale. Overvaluing your home will just set you back further, and increase the time it takes to sell – if you are desperate to get the cash out of your property, any delays could be vital and may cause you to get into further trouble with your bank which may lead to repossession procedures.

To get a reasonable accurate valuation of your property, the best place to start is to look at recent sales in your area. There are various tools online such as NetHousePrices, and Zoopla that can give you this information for free. Once you have this, you can average the sale prices out, and come up with a valuation for your home. If you are looking to sell quickly, it may be an idea to consider discounting a further 5-10% from this figure in order to attract cash buyers to your property listing. Remember, cash buyers can buy in as little as 7 days, whereby a regular mortgage purchase will take over 1 month.

Things To Remember When Setting Up Your Business

by Guest Contributor

The job market in the UK is improving but more and more people are choosing to set up their own businesses, both creating jobs and helping with the recovery of the economy. Coming up with a feasible business idea and strategy is the hard part, and once you have decide what you want to achieve you can set about doing all the necessary paperwork and sorting out the logistics of setting up your company. There are a few important things to remember when setting up your business. Some of the main ones are listed below.

Business Bank Account

You should consider opening a business bank account from the very start. If you are setting up as a limited company or a partnership you are required by law to have a separate account for your business finances. If you are setting up as a sole trader or self-employed there is no legal requirement to have a separate business bank account, but it can be useful if you want to keep track of your incomings and outgoings quickly and easily, and for tax purposes.

The government is very keen to encourage start ups and new businesses and has made sure there is a provision in high street banks for those wanting to set up their own business. Most big name high street banks have specific accounts designed especially for start up businesses.

Business insurance

You should look to take out relevant insurances to your business from the offset. Seek advice to find out exactly what you need to be covered for. If you are going to be employing one or more members of staff you are legally required to have employers’ liability insurance. This covers you in case anyone working for you falls ill or is injured as a result of their job. The other big thing to remember when setting up your business is public liability insurance.

This is important for any businesses that are visited by customers, contractors or visit other companies. The insurance protects you should an accident occur that injures a third party or their property on your premises, or if you cause any damage whilst on theirs. You can find out more about liability insurance online or by speaking to a business insurance provider.

Holiday Shopping Without Breaking Your Budget

by Guest Contributor

How To Save A Ton of Money Shopping For Christmas In July

The following is a guest post by Melissa Schraiber who writes for The Fat Wallet. If you would like to write an article for Money Q&A, please visit our Guest Posting Guidelines page. The holidays are upon us. Or, at least that’s the way it feels. While many people start thinking about the winter holidays earlier, the season gets underway in earnest just after Halloween. That’s when the stores start putting out big holiday displays, and you can’t look at the TV without catching a holiday-themed show or ad. No matter what your plans are this season, setting a budget and actually sticking to it is going to be very important. As you start planning for this important (and often expensive) time of the … Read more

How To Save On Energy In Your Home Office – Create A Great Business

by Guest Contributor

When you think of an ‘office’ you may think of a large expanse of a commercial building, solely used to go about daily, working life. But that’s not all that an office or business has to be – in fact, more and more people are choosing to create an office in their home, where they can build their business and travel along the self-employed path.

While a home business probably won’t require a good business gas supplier, the importance of energy efficiency and reducing your energy consumption is still of paramount importance. While you may share your home with family members, all of whom are already doing their bit for the environment by being a little green, your efforts shouldn’t stop there.

The concept of working from home must undoubtedly appeal to most people, but it’s certainly not easy. Building a successful work-life balance can be difficult and you need to be able to keep the distractions at bay. Treat your working day as though you’re in an office elsewhere, and don’t see it as a chance to potter around and run errands as well as work.

There are plenty of ways how to save on energy in your home office which will have a knock-on effect – not just on the environment but on your pocket, too. The less energy you have to use to operate your business, the more profit you will see in your bank and the more enjoyment you will have with your loved ones, reaping the rewards of your hard work.

DIY Plumbing Problem Solving: How To Clear Clogs

by Guest Contributor

The following is a guest post by Chris Long, a store associate at a Home Depot in the Chicago suburbs. If you would like to write an article for Money Q&A, please visit our Guest Posting Guidelines page.

When your toilet is out of commission or your sinks are stuck, instead of calling in the professionals for a pricey sink or toilet repair, invest in a few inexpensive plumbing supplies and tackle the job yourself. You can tackle plumbing problem solving yourself to save money.

It’s true: many plumbing repairs are within your grasp, even if you are a first time DIY-er. Of course, the more complicated the problem, the more likely you’ll need to enlist some professional support but for many issues – namely, clogs – you can get by with some simple plungers and drain cleaners. You can handle DIY plumbing problem solving.

DIY Plumbing Problem Solving

Perfect Plungers

Believe it or not, that little Pepto-pink/rust-red rubber plunger that you can pick up for a couple of bucks (and are likely to find in any house on the map) is not even designed for the toilet. Which prefaces this nicely: not all plungers are created equal.

The “plunger” with which most folks are intimately familiar is actually designed for use in the sink, not the toilet. These are referred to as sink, forced cup or bell plungers and have a wide suction cup shape with a flat bottom edge in order to fully encircle whatever drain it is sitting atop.