Financial Updates

In the current tough-as-nails housing market, there’s no question that remodeling your home can add some much needed resale value to your home. While taking out a loan and hiring a licensed contractor to do a major remodel will yield great results, many of us just can’t afford the cost. Luckily, there are many simple things you can do to drastically change the look of a room in your house while not spending a lot of money.

Before we begin with the specifics, let’s get into some general concepts.

1) Concentrate on one room or one series of rooms (kitchen or bathrooms come to mind) instead of tackling the whole house.

2) Second, if you’re remodeling on a budget it’s best to pay cash for everything and not take out a loan.

3) Keep a very close eye on your budget. Lists and spreadsheets are your friend. Plan it out ahead of time.

4) Warm colors are in right now—they’ll bring a positive, relaxing energy to your home. Fifth, start small but look at the big picture. This will make more sense as we go through some specific ideas.

That little plate around your light switch or electrical outlet is often ignored, but let’s face it- these often off-white or cream-colored pieces of plastic often accumulate a staggering amount of dirt and grime over the years. Swapping them out with new switchplates (in warm colors) will highlight all the work you’ve done to a room. They’re cheap and they make a big difference.

Faucet knobs, cabinet hardware and door handles are easily replaced. Since we touch them so much, they often show signs of wear and tear faster than many other items in our homes. Sticking with the warm color scheme, bronze or a convincing faux-bronze are great options for sprucing up a room.

This is perhaps the cheapest way to make a big change in a room. For a kitchen or bathroom, try using a high gloss paint that won’t absorb spills or splatters. If you’re on an extremely tight budget, remember that you can change the whole tone of the room with just one accent wall painted in a different color.

Old, raggedy curtains are an eyesore. Old floral curtains that have been in a home for decades can also bog a living space down. There are many inexpensive curtain options available, and almost any set of curtains that looks bright and clean will drastically improve the look of a room.

Just as faucets get an overwhelming amount of traffic from our hands, rugs are abused by dirty shoes and what we track in from the outside world. Kitchen and bathroom rugs are battered by water, both dirty and clean, and a multitude of soaps and cleaning products. Look closely at the rug in the room you’re remodeling, and if it needs a change, swap it out. A new rug can really tie a room together.

Even if you’re not replacing the entire cabinet system, this can add up quickly. If it’s in your budget, swap out cabinet doors with freshly varnished or painted replacements. If you’re on a slimmer budget that does not allow new cabinet doors, just replace the handles and hardware. A little new metal goes a long way.

This is perhaps the cheapest thing you can do to improve the look of a room. Remove the clutter from bookcases, countertops and other surfaces. If a surface looks wide open then it looks more inviting. Less clutter gives a room a new, cared-for feel. No one is saying you need to get rid of your knick knacks or your salt and pepper shakers—just put them somewhere out of sight.

Utilizing any combination of these ideas should provide a cheap, easy way to breathe new life into a room without relying on loans or a contractor. If you plan the remodel out ahead of time, keep a tight budget and look at the big picture while you change small things, you’ll be living in a brand new space in no time at all.

About the author : Tim Richmond is a passionate blogger who writes about the economy, finance and home ownership. He is an online publisher for 1st Tribal lending.

Have you ever found yourself feeling slightly dazed and confused about IR35 legislation? If so, you’re not alone! The IR35 is a difficult topic to get to grips with for many contractors and entrepreneurs, so it’s about time we put together a straightforward, no-nonsense idiot’s guide to this piece of legislation, to allow you to stay out of financial difficulty.

The legislation was introduced back in 2000 in early April. At the time, the UK ir35 rules launched by the government were intended to stop individuals from leaving their jobs on Friday before coming back to the office the following Monday in the role of a contracted ‘consultant’, thereby enjoying tax relief benefits while still receiving the standard employee benefits. This sort of ‘disguised employment’ was a massive problem in the 1990s, and the IR35 was meant to render the widespread issue redundant in the workplace.

Since the introduction of the IR35, numerous sole traders and limited companies have found themselves falling unwittingly foul of the legislation, perhaps as a result of their business practices not closely matching those of contractors in the same industry, or perhaps as a result of failing to produce accurate documentation of their business practices for an official HMRC investigation.

Let’s take a look at the aspects HMRC may investigate in order to check whether or not you fall outside IR35:

Financial Risk: It is a rare occurrence for permanent employees to put their finances at serious risk. It therefore makes sense that, In order to be outside IR35, you need to prove that you’re at financial risk. Let’s say, for example, that a client fails to pay you on time. As a contractor, this places you at financial risk and this is something you need to prove.

Company Benefits: All contractors falling outside IR35 will not be entitled to company benefits such as holiday pay, pension contributions, sick pay, or training courses.

Control: Are you in control of your daily work schedule? Can you clearly demonstrate this? You’ll need to be able to if HMRC start prying.

Company equipment: The company equipment debate is a bit of a grey area, as some clients do not allow personal laptops to be used due to security fears. It is, however, something to keep in mind.

Performing Your Task: The IR35 rules state that there should be a clause in your contract that disallows any other person from performing the role you’ve been hired to perform by any given company.

Dismissal period: If you have a set notice period in certain industries, HMRC might consider this asking to the rules that apply to a permanent employee. As such, many contractors have immediate terminations written into their contracts. This might seem like a bit of a negative point, but think positively; this could turn out well for you if the company hiring you turns out not to be the best to work for!

It is worth remembering that there are significant advantages to keeping within IR35 as a contractor. For example, you will be able to enjoy tax relief by claiming business expenses, with the aim being to help develop your business for the future while improving the services you have to offer potential clients.

One thing to bear in mind, though: you need to keep receipts as evidence of all the expenses incurred during your work contract. HMRC are within their rights to ask to see all records dating back as far back as the last six years, so don’t be too quick to throw those flimsy bits of paper in the bin!

Claiming expenses if you own a limited company is quite a straightforward process. Any expenses claimed must be for your business, which can cover aspects such as travel costs, overnight accommodation, meals consumed away from your place of work, pensions, and training courses.

Meanwhile, if your contract falls within IR35, bear in mind that the only expenses you can claim are admin costs, fixed at 5% of your contract income, travel and accommodation expenses, pension contributions.

Being a full time employee brings with it its own benefits, but contracting through your own limited company or setting up as a sole trader can also bring with it some serious advantages. The IR35 rules may well be open to interpretation due to a couple of grey areas, but a good contractor accountancy will be able to clarify any confusion for you. Some accountants will even offer a verbal review free of charge in order to encourage you to call back with other issues and requests for services.

If you are looking for an easy and convenient way to keep track of your finances, both at home and on-the-go, use your iPhone, Android or Blackberry phone to organize your financial life. There are hundreds of personal finance apps available for download, but only a few can provide a comprehensive picture of your current and future financial life. 

1. Mint.com (iPhone, BlackBerry and Android)

Mint.com is an impressive personal finance app that allows users to manage and track spending and savings. The app syncs with the Mint.com website, allowing users to access their profile directly from their smartphone device. This handy app compiles a wealth of financial information including user’s bank accounts, credit cards, loans and retirement accounts. 

In addition to providing a comprehensive picture of user’s financial information, the app tracks and charts spending, provides handy bill pay reminders and categorizes debit and credit card transactions. One of the app’s coolest features is its ability to create charts and graphs that track your spending trends. The app also allows users to compare their spending habits with other Mint.com users. The Mint.com app is free and can be downloaded from your smartphone’s app store.

2. MoneyStrands (iPhone)

MoneyStrands is a personal finance app that compiles and categorizes information from your checking and credit card accounts. In addition to compiling financial information, the app provides a visual spending analysis to help users better understand their own spending and saving habits. 

One of the app’s best features is its ability to compare user’s spending habits with other people who share similar demographics. MoneyStrands is available for the iPod Touch and iPhone and can be downloaded for free. 

3. RetirePlan (iPad)

If you are close to retirement or looking to get a better picture of your post-retirement budget, RetirePlan can help you gain a better understanding of your future financial life. This handy app allows users to upload their financial data and run scenarios to see how different variables will impact their retirement plans.

The app helps users determine the best age to retire, charts annual retirement savings goals and projects how long your retirement savings will last. One of the app’s best features is the variable calculator. The variable calculator allows users to see how changes in their pension, social security, interest rates and inflation will impact their retirements saving. RetirePlan is only available for the iPad and can be downloaded from the iTunes Store for free. 

4. PayPal (iPhone, BlackBerry and Android)

If you like making online purchases but don’t want to use your credit or debit card for your transaction, then you probably already have a Paypal account. If you have a PayPal account, be sure to download the PayPal app to your smartphone to keep track of your PayPal account information and online spending. 

This handy little app allows mobile users to check their Paypal balance on-the-go, withdraw and add funds to their account and transfer cash between their PayPal account and bank account. Download the free PayPal app from your smartphone’s app store. 

5. Smart Money Retirement Planner (iPhone and Android)

Whether you are fresh out of college or ending your career as a business professional, it never hurts to think about retirement… and the SmartMoney Retirement Planner app can help you do it! This powerful app helps users understand how their day-to-day financial choices impact their plans for retirement.

The app compiles user’s demographic and financial information, including assets, 401K and home equity, to run scenarios which determine how inflation, changes in social security, debt and taxes will impact their retirement plans. SmartMoney Retirement Planner is available for iPhone and Android phones and can be downloaded for free. 

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About the author : Rosie writes on behalf of a number of businesses ranging from Auto Enrolment Administration to holiday destinations. She enjoys reading design and technology blogs and baking sweet treats. Any opinions expressed in the article do not necessarily represent the businesses Rosie writes for.

For many business owners who don't have the budget to buy a large, high-capacity commercial copier, leasing is a smarter and more affordable alternative. Leasing is also great for small to medium offices in need of equipment on a limited budget.

However, it's very important to become familiar with average monthly copier lease rates to make sure you are getting the most competitive deal when signing a lease for office equipment.

So what are the prices? Glad you asked:

If you're still at a crossroads and can't decide whether it’s the smartest business solution to lease or buy a copier, it’s essential to assess if your business can afford paying a monthly lease throughout the entire term of the agreement.

Most copier leases are long agreements that will extend from one to three years with monthly payments required for the duration of the contract.

For businesses that don't have thousands of extra dollars in their budget to purchase a large-scale commercial copier outright, leasing may seem to make more sense. However, the cost of a lease for several years must be tallied and compared to the total investment of purchasing a commercial volume copier outright.

In many instances, a copier lease may work better for an established business or a company that has short-term copying needs. But if you are a small to medium-sized company that has the means to put a down payment on a commercial copier, it will be wiser investment of your funds since you will own the equipment in full.

Taking into account that a copier lease could range from as little as $70 per month to over $300 per month for a 60 month lease, it's important to compare average prices from leasing retailers before entering into an agreement.

As you begin to compare copier lease rates between leading companies, take the time to calculate the total cost of buying a copier compared to how much you will pay for the entire length of your monthly contract. This will give you actual numbers that you can use to determine if the expense of a copier lease makes more financial sense than setting up a payment plan to buy a copier brand-new.

Cup of coffee? Check. Pen and sales papers? Check. Internet browser open and ready? Check. Now you’re ready to learn how to find the best laptop deals! While it may seem simple to some to blindly wander into their local electronics store and choose the first laptop they see with all the bells and whistles, there really is an art to finding just the right laptop to fit your needs as well as giving you all the fantastic “perks” that you’re looking for at just the right price.

The first thing to do, as you should anytime you’re making an investment purchase, is to set your budget. Laptops vary in style, color, even screen size and of course, memory and processor speed. Setting a budget will affect the type of laptop you actually end up with as opposed to the one you want. Most laptops average in price from a few hundred to a couple thousand dollars. Factors that play a major role in the price will be the amount of storage space and the speed of the processors.

Would you buy a house without doing a walkthrough? Or buy a car without test-driving it first? Buying a laptop is no different, it is an investment. What good is your hard-earned money if you spend it on something you know absolutely nothing about? Make sure that you are not just buying, but buying smart. If all you need a laptop for is to do homework assignments and surf the web, then you probably don’t need to buy a high-end laptop with a processor that works faster than the speed of light, leaving you with a large hole in your wallet.

Laptops come with different “abilities”, that is, different amounts of memory and speed to fit your purpose. Find out if it comes with software you need pre-installed or do you have to purchase programs separately. Remember the more programs you install the more memory you should have. Knowing your product will help you stay on budget and get you the laptop you need and not the laptop that makes someone a sizeable commission. Determine what you will be using the laptop for and how long you expect to get good use out of it before it needs to be replaced or upgraded.

Remember those days in school when your teacher gave a research assignment to the class for homework? Making your money work for you is all about getting back to basics. Know your budget, know your needs and then start searching. Sunday paper advertisements are always a great place to start, but even better than that is the good ‘ole internet. The internet gives you access to not only local deals, but worldwide as well and as long as your research skills are up to par, you can luck up on the perfect laptop.

In today’s economy, everyone is shopping smarter. There’s no reason you should be paying full retail for laptops (or anything else for that matter). Again, let the internet work to your advantage by searching for online coupon codes. Many highly sought after brand names offer online coupons or some sort of discount. This includes Dell, HP, Toshiba, even Apple. If you’re a student, check with your college or university for amazing student discounts. Compare online prices to in-store as well. Often, the in-store price or savings can outweigh purchasing online. Sign up with online rebate websites like Fatwallet or Ebates; they can get you some of your cash back, anywhere from 1-5% on items you’ve purchased. Now, how’s that for savvy shopping?

Finally, try not to do the brand name shuffle. A laptop from Dell or Toshiba is just as good as one made by Acer or Apple. Sometimes, all you’re really paying for is the brand name. Read product reviews by consumers and see what experiences they’ve had with the product themselves. There’s no better advertisement than word of mouth, so if someone thinks a laptop they’ve bought is crap, you best believe they’ll tell people about it on the web. Use all the tools at your disposal, both in print and online and you’ll be all the wiser for it. Happy shopping!

It has been impossible not to notice, especially amongst holidaymakers in Europe, how badly the British pound was performing against the Euro in the foreign currency exchange market. News is not improving after the pound fell against the Euro and the UK economy slumped back into recession. This will undoubtedly affect those involved in Forex trading and financial spread betting.

According to a report on the BBC, the British pound recently secured its best position in relation to the Euro in 2012 after a 7 month high against the dollar and this will have satisfied holidaymakers heading abroad this summer because it previously made less than pretty reading for those who kept an eye on the foreign currency exchange markets. However, numerous factors have combined recently to affect the position of the pound against both the Euro and the Dollar in the foreign currency markets. The chief catalyst for recent improvements is unquestionably the fact that Britain are seen to be well position to be one of the first to successfully banish the recession and this has created an air of positivity around our economy which is reflected in the heightening of exchange rate of the pound. For anyone planning a holiday in Europe or to make a large level overseas payment, it may be prudent to strike while the iron is hot and speak to foreign currency experts about what you need to do to make sure you capitalise on the Sterling's current strength.

Foreign Currency – Economy on the Up

According to the report on the BBC, the economy in the UK increased in the past 7 months and this has borne fruit with the British Pound reaching its best level of the year against both the Dollar. It has been perfectly timed in some senses as this is the time of year in which most people in the UK intend to venture abroad and the news that their money will go further in the foreign currency exchange market than would have been the case earlier in the year will certainly be welcomed. It goes without saying, however, that a good foreign currency exchange rate isn't the end of the matter when it comes to make your money go further when abroad as most now realise that seeking out the specialist services of foreign currency experts, they will invariably secure a much better exchange rate than that which is to be found amongst mainstream providers on the high street.

Foreign Currency – Making the Most of your Money

Taking advantage of the strength of the pound is something which many in the UK will be unable to do now and they are being advised to move quickly and seek the advice of foreign currency specialists who will go that extra mile to ensure the best exchange rates are secured; a characteristic that is seldom found amongst more mainstream foreign currency providers on the high street.

Undeniably, there are several retirement policies to consider in the global economic market. Once you start ransacking the online search engines, you come across numerous financial policies that have been designed to keep retirees financially secured throughout their retirement period. One such monetary scheme is annuity that can be accessed only on making an agreement with an insurance company. Once the contract is successfully made, the insurance company will keep providing a regular income to the annuitant till the policy matures. There are many retirees who buy annuity schemes with the intention to give proper shape to their finances that can help them strengthen their financial abilities during the postretirement period. Well, you can do the same only after proper research work.

Now, there are different types of retirement annuity plans – Fixed and Variable.

Annuity professionals now opine that a variable annuity is the best financial policy that can let retirees obtain potential gains. However, risks are certainly involved since variable annuity holders will have to remain in anxiety whether the market conditions experience any turmoil. Once it happens, their interest rates will be lowered and consequently, their income will be reduced to a good extent. In this respect, a fixed retirement annuity is still a safer option since you will enjoy a fixed rate of interest till your annuity contract comes to an end.

Remember, a good insurance company will allow you to set a time period of your choice. However, annuitants prefer to pay off the annuities over a time period of five, ten or maximum fifteen years. In this context, lifetime annuity is certainly a superb option since the annuitant gets an assurance that he/she can now live significantly longer than average. If the annuitant however dies before the completion of the term set in the contract, he/she will not get the extra funds hidden in the premium.

The annuity rates vary from one insurance company to another. The better the rates, the greater are the returns. However, there are several factors that determine how good the returns can be. The insurance company’s management overhead; the role of investments; the number of customers; the condition of the business etc are some of the prime factors that actually judge the nature of your returns. So, research accordingly and find a good insurance company to buy a retirement annuity policy.