Turn one pound into one million

Massive savings!

2012-01-30T10:37:00.002Z

Thanks to spending nectar points and printing off a 20% discount vouchers and an in store deal, I managed to save £150 in Homebase this weekend. It was an amazing saving. I purchased 4 5 litre tubs of Dulux paint pod paint. Each 2 tubs came with a free Paint pod compact worth £30.99. We also bought undercoat, gloss, gloves, sandpaper, masking tape and other things for painting. I am always shocked at how dear these things are, but with a 20% saving as well as spending £48 worth of nectar points, we made an amazing saving. It was certainly well worth using our loyalty card (we get points from reading our meters monthly for British gas and buying petrol at Sainsburys) and searching for vouchers on line. The voucher was emailed to my husband from the Money Saving Expert so thank you Martin Lewis!

Another Feed In Tariff Cheque!

2012-01-28T20:57:00.004Z

I received another feed in tariff cheque today which was for £96.88. This was significantly less than the first but was not surprising considering the shorter winter days and the cloud we have been having. However, it was still great to receive it.

It means that we have now had the solar panels for six months and so I did some calculations to work out how much money we have saved so far:

£364.19 - Feed in Tariff
£83.54 - free electricity generated
£208.91 - reduced electricity used due to being more frugal
£267.20 - reduced gas used due to being more frugal
£923.84 - TOTAL

It is amazing to think that comparing year on year, we have saved so much money in gas and electricity. We have been on a fixed price tariff as well so it is not due to any change in cost of electricity or gas as the price per unit has remained the same. The winter has been warmer than last year which may have had some bearing on it of course.

We could have been frugal without the solar panels but it was having them fitted that made me think so much about how much we were wasting. I started turning the heating off in the day and turned the thermostat down by two degrees. I made sure lights and computers and televisions were switched off in rooms when we were not in them and even started bathing the children less often. Having an electricity meter really helped as I found out things like our kitchen lights cost 50p an hour at the highest tariff of electricity and I often left them on for a few hours each day when I was in. That could have cost me £200 in the six months - almost unbelievable!!

So even if you do not have solar panels, you can make huge savings on your utility bills if you give some thought to where you are spending money. Get a meter if you can, many energy companies are giving them away free and it could help you to save over £500 a year like me!

Frugal Christmas Spending

2012-01-20T05:51:00.002Z

Last year I managed to get a lot of great deals in the January sales. I had already done some of my Christmas shopping by the time January was over. This year I have just not had the time to go out and do this and I am rather regretting it. I did manage to get some cheap biscuits and chocolate, but that was very naughty as normally I would not have bought them at all. My weekend is booked up again and I suspect that all of the post christmas sale bargains will be gone by next weekend. I will just have to look for other sales to do my shopping, during the course of teh year and help to spread the cost of Christmas.

Utility Savings

2012-01-20T05:47:00.002Z

My energy supplier has a great function on their website where it is possible to compare your energy usage with that of the previous year. I have had a look at that and it has been interesting. Our gas usage has gone down a bit, which is probably due to me only bathing the children three times a week instead of seven and keeping the heating off during the day. The electric savings are much bigger. We are being more careful with switching off lights and computers and with the addition of the solar panels, even in the winter our spending has halved. The graph is amazing as you can suddenly see when the solar panels for fitted as the usage dips right down. With the drop in tariffs I may not be so keen to fit solar panels now, but it is still worth trying to cut down power usage by improving insulation, switching things off that you do not need and just being more aware of what you are using and whether it is necessary.

Jobs

2012-01-20T05:45:00.002Z

Seeing figures for unemployment the other day made me think that I am lucky that I am self employed. Although a lot of people seem to think that it is extremely risky. I am lucky that I have been running a business for a very long time and I have adapted to changes in the market and made a success out of it. I can still not believe that the book I write which started it off is still selling and making me money and now I have written many more and lots of other things besides. It seems a long way since my last job and with the lack of Quality Coordinator Jobs out there, I am pleased that I had something to fall back on.

Expenses

2012-01-20T05:42:00.003Z

Having all the expenses of the loft work has made me think hard about money and earnings as well as spending. I realise that we are very lucky with the fact that we found a great mortgage deal at the right time and we have some safe investments which are paying out. However, I have worked hard at studying finance and we do not over spend. I think that we should give ourselves more credit for being sensible with our money and not just assume that it is coincidence. We got a tracker mortgage because we had learned that trackers were the best investment type and then when interest rates kept dropping our mortgage tracked that and for the last eighteen months we have been paying 0.99% interest which is just £81.50 a month. This is what has allowed us to save up the money to pay for the work on the house. As well as living fairly frugally and working hard.

Making a Million

2012-01-20T05:38:00.002Z

After reading the book that I reviewed in my last post, it got me thinking again about being a millionaire. To be perfectly honest, I think I may have left it a bit late. I may have a business and my husband a job, but we have children and so I think that even if we earn lots, save lots and spend little, however well we invest, I think that we will still find that we are giving money to them. Of course, if my business was even more successful that would help and if I am not making that much money from it by the time the boys are at secondary school, I may consider getting some employment. However, as there are only manufacturing companies making things like industrial bearings or shops offering jobs in the local area, it may be tricky to find something. I will give it some thought once they reach the age of eleven. A lot can happen in the next five years.

Book Review : Millionaire Teacher by Andrew Hallam

2012-01-18T14:28:00.003Z

Book Review : Millionaire Teacher by Andrew Hallam

What I particularly liked about this book was that it agreed with several other books with regards to its approach towards investing. I am cautious when investing and do not do things on a whim, but if a selection of sources are giving me the same information, then I am happy to trust them more.

The book is all about investment. I am a firm believer in making money from my money or getting a good passive income. I have made mistakes with my investments and learnt from them and this is exactly what the author of this book has done and he is not afraid to admit it and help his readers learn from his expensive mistakes.

The book is written pretty simply, so you do not need any mathematical or previous investment knowledge to understand it, but on the other hand it is not at all patronising. It explains what the author considers to be the wisest ways of investing and the reasons why. It then goes on to explain other investment methods and why these are not so good.

Each chapter discusses a rule that the author feels we should take note of when we are investing money. He feels strongly that these rules should be taught in school, as do I. His book is therefore a fantastic financial investment for anyone who would not only like to learn more about investing themselves but also who would like to pass that knowledge on to their children.

So if you want to make sure that your money is invested wisely, then this is the book for you. Whether you are young and just starting out with investments or whether you are reaching retirement, there will be some useful information for you. The book does stress the importance of starting investment as young as you can and so if you do want to make lots of money, then it is better to buy this book sooner, rather than later.

Amazon sales

2012-01-17T08:12:00.003Z

The books are still selling fairly well on Amazon and a few things have sold on ebay as well. It is turniong out to be a good way of raising some extra money. The ebook sales are still good as well and I plan on starting a new book today which should be fun. Just have to post the things I have sold first which means going out in the freezing cold!

Great Amazon Sales!

2012-01-11T13:58:00.002Z

Selling my husbands books on Amazon, has turned out to be a great project. Not only has it cleared a good selection of boxes, which were cluttering up the attic and would have no space to be stored once the loft is clear, but they are also raising some money. The first batch that I sold raised £11.70 in total for six books, which I was happy with. However, my second batch has raised over £75 although I have not taken out the postage charge for twelve books. I am hoping that the books will continue to sell well and that I can sell some more things on eBay as well. The money is adding up and with Kindle Sale still doing well and some more work coming in thsi afternoon, things are looking very positive this month!

Contactless Payment Technology Gains Popularity

2012-01-11T10:06:00.000Z

Contactless payments are steadily gaining popularity abroad, particularly in the UK, but can we expect to see this technology stateside anytime soon?

What is meant by Contactless Payment?

A contactless payment system is a new technology set up at the retail point of sale. We already use a similar type of this payment with debit and credit cards, but the new technology on the rise comes in the form of key fobs, smartcards and even your cell phone. The key difference is that contactless payment relies on RFID, or radio-frequency identification.

Smartcards have already become commonplace in Europe. These look like regular credit or debit cards but there is a major difference. Smartcards have integrated technology embedding in them with circuits. These make up a microprocessor that comes fully stocked with volatile memory. They can store data, process applications and provide identification authentication.

What's different about the RFID technology is that radio waves are used to transfer data from one point to another. In the case of contactless payments, the data is being transmitted from the form of payment (a card, cell phone, or key fob) to the point-of-sale (or the cashier).

One form of contactless payment we can expect to see here in the U.S is Google Wallet. This app stores all of your credit cards on your cell phone. Simply tap the phone at a point-of-sale that accepts Google Wallet and your payment goes through as simple as that.

Many chains are already set to implement this technology in their stores this year, so we can expect a lot of changes taking place in 2012. Consumers can even store their loyalty card information on their cell phone app, making it easier than ever to have all of your financial information in one place. But is that a good thing?

Contactless payment is another way of making our money more virtual than before. Some people already struggle with budgeting because whipping out the debit card is now second nature, so what are the repercussions of having virtual credit and debit cards on a cell phone?

It will also be a while before contactless payment becomes mainstream in the U.S, so many stores are not going to have the RFID system at their point-of-sale. You still have to enter a PIN number for purchases over a certain amount, so there's still the chance that someone could steal your PIN number and even your cell phone, giving them full access to all of your accounts.

What's more, not every credit card offers the smartcard or RFID technology. People wanting to get on board early can research which cards are already using the technology by comparing credit cards at moneysupermarket.

With any new technology, there will be kinks to work out, not to mention the fact that people tend to be resistant to change. Regardless of how you feel about storing your wallet on a cell phone app, contactless payment is the wave of the future, so enjoy those plastic loyalty cards and sign those credit card signature strips while you still can. Their days may be numbered.

Credit Card Joy!

2012-01-10T08:12:00.002Z

How often do you hear those words in a sentence? Seems by bank has messed up my card payment date. Instead of my December credit card having to be paid at the beginning of January, it is now due at the beginning of February. They messed around with the payment dates and we asked for it to be changed back and the inadvertently gave us an extra months free credit. It was a big bill too, with the cost of our new bathroom on it and so it is good to have some extra time to pay!!

Kindle Sales

2012-01-09T20:44:00.002Z

I saw something today which was very interesting. Apparently one out of every ten people got a Kindle for Christmas. Whether this is true, I do not know, but my Kindle book sales are certainly doing well at the moment. Already this month I have sold almost as many as in my best month (which was last month) I am selling two or three times the amount of books that I normally sell per day. I have just had a new book published, which is great and should help to add to my sales. I have a list of five other potential titles to write about and may start another new book soon, but I have other work to catch up on tomorrow first. It is all very exciting!

Clearing Out

2012-01-07T12:05:00.002Z

My husband and I have been sorting out our books that were in the loft. He has managed to empty 4 boxes of books, finding just one valuable book in there. I have sorted out my half a box and put half of those books up for sale. They can be found on my Amazon shop Hopefully we will be able to raise some money as well as having a clear out.

We already raised £11.40 from trading in six of his books and I will be looking through more of his books later. Of all the ones that he decided he could get rid of, not one of them was worth selling, which was a real shame. However, I am hoping that some of his other books, that he wanted to keep, might be worth so much money that he will decide to sell them after all. The more that we can get rid of the better. It would be great if we could get rid of a lot more stuff both the things that were in the attic and the things cluttering up his office.

House Negotiations

2012-01-06T13:55:00.002Z

My friend has been looking in to buying a house. At the moment she is renting a place and owns one house that she is renting out. She is looking to buy a house so that she no longer needs to rent. She has put in an offer on one place which was turned don, but is still looking around for an old property that she can do up, live in and then sell on at a profit. She as been getting really organised, chatting to estate agents and even looking at raleigh nc attorneys to find someone who can help out once she does find a place that she likes. It is an exciting time for her and will mean that she can have some money sensibly invested and save money on rent.

Premium Bonds

2012-01-06T13:51:00.002Z

My hopes for a big prize were again dashed this month. This is the second month when I have really hoped to win big and have won just £25. Perhaps I need to almost ignore it next time and then I may win big.....not much chance of me not thinking about it though. I have withdrawn £10k and I will be taking out even more before the next draw and so I will be massively lowering my chances of winning anyway.

Medication

2012-01-06T13:45:00.002Z

Sometimes I feel that medication is far too expensive. It seems very silly that you can buy paracetamol for a few pence unyet if you want something a bit stronger it is significantly more expensive. I also am amazed when people buy branded products when they are exactly the same as generic ones and they are much dearer. Research has even shown that they work better for people because there is a placebo effect. I am much more interested in finding cures which do not need medication. Companies that are looking in to these things are great but with drug companies making so much money out of people it can be difficult to know why anyone would want to do this. I know someone who has migraines and they are looking for an alternative to medication. They are going to find out the results of a Franklin migraine conference where all sorts of migraine related things will be discussed and they are hoping that they might be able to get something out of it, that will help them.

Self Employment Failures

2012-01-06T13:34:00.002Z

I get a bit annoyed when statistics are released about small businesses failing. I know many Mum;s like me, who run their own businesses and are still doing well, despite the economic problems. I think the key is to change with the market and to make sure that you are seen. I have changed what I do several times in order to move with market demand and I think that there are too many people not doing this and this is why they do not succeed. I think in today's economy we need to be prepared to do that bit extra.

Baby Gifts

2012-01-06T13:29:00.001Z

It is probably too early to be thinking about this, but my sister will be having a baby in April. I find it very hard to buy gifts for her because she likes to get a lot for her money. I would much rather get good value for money, but if I buy a good quality and expensive item, she will take it back and exchange for lots of cheaper things. I think it is sometimes nice to have something a bit more expensive. I have therefore decided to start hunting around early and have come across some good things such as baby push presents. Not everything would be to her taste but there are certainly some things there that have inspired me. Hopefully I will be able to pick the perfect gift this time.

Equity Release

2012-01-06T13:28:00.002Z

I have been interested in the concept of equity release for a long time. My parents are running out of savings more quickly than they expected and so they have considered releasing some of the equity in their house. I have just been asked to write a selection of articles on the subject and so this gives me the perfect opportunity to research the topic and find out a lot more about it. It will not only be interesting, but it will give the chance to advise them on whether I think it is a good idea for them or not.

Tiding Up

2012-01-06T13:25:00.002Z

I have never been that happy with one of the connections on my solar panel meter. At the bottom there is a lot of black electrical tape and it looks really messy. There are also a lot of cables and I often wonder how I will manage to paint the wall under or around them. I will be having an electrician in the house soon, when the lights and things need to be done for the loft and so I think I might ask him about it. I might ask whether it is safe to paint cables or whether he can use dome cable trays or a cable protector just to make everything look a lot better. I know that it will cost a lot of money, but it will make things look a lot better.

Disruption

2012-01-06T13:20:00.003Z

I have been bracing myself for lots of disruption in the house. I have been assuming that I might have to go and work outside of the house, perhaps take a small laptop t a coffee shop or something, but things have been surprisingly quiet. I think the loudest thing is their radio which doesn't bother me at all. Maybe I am just used to having a lot of noise in the house, because of the children and I am skilled at blocking it out! The mess isn't even as bad as I thought it would be as they put out dust sheets and then vacuum at the end of the day, which is really useful.

Money Grabbing

2012-01-06T13:17:00.002Z

People are getting very desperate for money at the moment. With the economy in such a state and the lack of jobs, there is more crime at the moment. It is such a shame that people are turning to crime as they cannot see any other way through their problems. Some people are more inventive and put in claims for things like medical malpractice insurance florida or personal injury claims. It gives the whole insurance a bad name because people think that those claiming are fraudulent when it has been set up to help those ho are genuinely in need. Such a shame.

New Years Resolutions

2012-01-06T13:14:00.002Z

I have not yet got round to making any new years resolutions. I tend to forget them as soon as I make them anyway. I do have plenty of projects on the go though. I have 5 ideas for books to write, on of which I am in the middle of at the moment. I have my husbands website to work on as well as my three, one of which I have plans to change radically and I have my writing work as well. With regards to personal goals, I just want the loft finished and the house all sorted out before Easter and hopefully not bankrupt myself in the process.

Business Purchases

2012-01-06T13:10:00.002Z

I love being my own boss. It gives me such a sense of freedom with regards to my working hours and looking after the children. However, I would sometimes prefer more job security. Running a business is something that many people dream of doing and I think that they like the idea of being able to have an office of their own, purchasing exciting things and achieving a lot. In reality it is tough though and you do not want to be buying every Howard-Medical.com computer cabinet or piece of equipment that you see or maybe even not working from home because of the expense of renting. It is so important to keep costs down to ensure that you make money.

Jobs

2012-01-06T13:07:00.003Z

Sometimes I do wonder whether I should look to get a 'proper job'. It would be nice to have a regular and guaranteed income, even though it would be difficult. I would have to work an evening shift, which would mean guaranteeing that my husband finished work on time, which is often difficult. I am often tired in the evenings, but I am sure I could find the energy if I had to. It would probably have to be a job in Tesco doing a late shift, as I need to be here in the day for the children and it is the only local business that offers ;ate shits. I would have to wait until after march though, as I would not be able to work when he is on call. It is not something I want to do, but at least I have an option if I ever need it.

Buying Things

2012-01-06T13:03:00.003Z

The sales are on of course and even I am being tempted to buy things that I do not need because they are cheap. I spent 10p on some chocolate coins, that I did not need at all - what a big spender!! It is worrying watching people looking at all the things on offer and I do wonder whether they really need the things they are buying. It is great if you see some cut price stainless steel necklaces that you know would make the perfect present for someone or are something that you have always wanted, but it can be so tempting to buy things just because tehy seem too much of a bargain to ignore. This is very dangerous and it is easy to waste a lot of money this way.

Bills...

2012-01-06T12:43:00.002Z

I seem to have so many bills piling up at the moment. I guess it is just a January thing really but it is a bit disconcerting when I have such a big expense with the loft as well. I am using it as inspiration to get on with my work though, which is good. However, sometimes I find that I just go in to a bit of a panic about it all. Then I get distracted from doing anything which is not good. Must read my money management book again....!

A revamp

2012-01-06T12:11:00.002Z

I was chatting to someone yesterday that said instead of moving house she had decided to repaint the house. She said it almost felt like it was somewhere new, to have different colours on the wall and a bit of new hickory furniture it felt like a new house. I think that it sounds great, especially as we will be decorating the house once the building work is finished. It means that we might feel like we have a whole new place as well.

Earnings

2012-01-06T12:08:00.001Z

Well the months tarted well, but did not continue so well. I did earn about £19 yesterday for my travel news articles, but nothing the day before. However, I did work some more on my new book. I got some work in yesterday for $80 which I will get done over the weekend and also a selection of paid blog posts worth $45. I will get those done today and although I will not get the money in today, it is looking better again.....thankfully....!

Time Management....

2012-01-06T08:04:00.002Z

I am always good at managing my time. Being a woman I do have the advantage of being able to multi task, but I also am very good at sticking to deadlines. However, I sometimes think that I walk a bit too slowly and this wastes time when I am out and about. I do not have a watch and I do wonder whether if I got one of those citizen watches, then I might get on a bit quicker when I am out. It could be a great investment for me, if it means that I get back home more quickly and get on with my work more quickly.

Making Money

2012-01-04T07:47:00.002Z

As a start to making more money this month, I have decided that I would like to challenge myself to receive a payment each day. As I only have two days of work a week at the moment, it will be quite a challenge. I am working on a few new books as well, which will not bring in money right away. So far the month has been good with a blog post being sold on day 1, a big payment for articles that I had written over Christmas on the 2nd and a payment from PayU2Blog yesterday. I need to sell some blog posts today to get some money.....

Premium Bonds

2012-01-03T07:55:00.002Z

I am so hoping that I will see a significant Premium Bond win in January. I know it is not good to rely on luck for an income and I will be working to earn more money as well. However, it would be really useful to have a chunk of money. I am quite worried that we are the most opulent out of all of our direct family and once we spend all the money on the house, we no longer will be. It was also nice to have a years salary in the bank, which we will not have any more. You may wonder why I decided to spend the money if it is worrying me so much. It was rather silly really. I thought that I might get some money from a source and so thought I would go ahead while that money was available. Unfortunately the money was not available any longer and so we have to find it all ourselves. There are more logical reasons as well. I want the children to have their own bedrooms by the time they are eleven years old. My priority was paying off the mortgage, but I would not have done it by then and so it makes sense to spend the money that I have on the loft instead and have the use out of the room for longer.

Money Stress!!

2012-01-02T10:50:00.002Z

I know that I stress about money a lot and the loft conversion is making me worse. The family are all hoping for a significant premium bonds win, to help us pay for the work. We do have the money tucked away, but none of us want to spend it! We will be having some bonds mature and some share options available for sale in the summer which will help us to get back some of the money. We will also be able to claim for our second feed in tariff cheque, which will be good. However, these will not cover the job which looks like it will get to £30,000 without the £3k we will need for carpets and the £2k for furniture plus £2k for the bathroom fittings.The furniture might be able to wait a bit and even the carpets, but the rest of the money will need to be paid out during January and February, with some of it already paid. We are looking for ways to earn a bit more money as well, but it is hard to imagine we could make that much money, that quickly.

December Earnings

2011-12-31T18:10:00.002Z

Pay to Blog - £34.22
PayU2Blog - £8.70
Blogsvertise - £3.48

Writing - £702.77
Article Writing - £686.90
Amazon ebooks sale - £15.87

Other - £72.86
Quidco - £27.46
Waterproof Memo Board - £20.00
Amazon affiliate earnings - £25.40

Making a Grand Total of £787.81

Kindle Lending

2011-12-31T14:17:00.002Z

This month I agreed that a selection of my Kindle ebooks would be available for lending. I was limited in how many I could agree to do this with as they could only be lent if they were not for sale elsewhere, when some of my books are for sale on another website. I may change this, however, because the lending looks to have been really good. Out of the selection of books I have made available for lending, they have not only been borrowed by people, but also been bought. I am wondering whether people have borrowed the book, decided that they like it and bought themselves a copy. I have sold more books this month than ever before which is why I think this might be the case. Amazon also pay something out for lending books, they have an amount of money which is split evenly between books lent and so I have no idea how much it might be, but it will be a good bonus. It is all looking extremely positive at the moment.

Get Christmas Bargains now - for 2012!!

2011-12-30T21:42:00.003Z

Now is the time to start your Christmas shopping for 2012. You may just be relive that the Christmas season is over and be hoping to have a whole 11 months gap before having to worry about it again. however, this is the best time to take advantage of the bargains. Many shops will be selling off their gift wrap and Christmas cards, their Christmas themed gifts and winter stock and you can get it at a fraction of the cost.

Buying now will not only save you money but it will take away some of the stress of buying for next Christmas. Why not take some tips from my Happy Frugal Christmas book while you are at it and challenge yourself to make a massive saving from your Christmas budget next year.

Kindle Blog

2011-12-30T08:45:00.004Z

You can subscribe to this blog on your kindle. So if you want to be kept up to date with all my latest money making and frugal spending tips on your Kindle, then please click here : Turn One Pound into One Millionblog. Thank you.

Gifts for adults

2011-12-28T10:22:00.002Z

I find it so difficult buying Christmas gifts for grown ups. Once we get older and start earning a decent amount of money, we do not really need many things. We can usually afford to buy the things that we need unless they are extremely expensive such as a loft conversion or jeep parts and then no one can afford them! I think that I will try to get people to only buy gifts for my children in the future, they get far more fun out of opening them anyway. In fact, I often find it rather embarrassing opening gifts form other people, especially if they are there when I open them as I have to pretend to love it, even if I do not. Yes, I know it sounds ungrateful, it is not like I do not appreciate it, but I just worry that they have wasted their money on something I do not want or need and that it would be better that they spent it on themselves or their family.

Solar panels

2011-12-28T10:17:00.002Z

I had an interesting discussion about solar panels at a Christmas party. Most people agree that it is a good investment if you have a south facing roof. we are still so happy that we made the decision to get them and we will soon be putting in a claim for our second feed in tariff cheque. Some people seem to think that the feed in tariff will be restored to its original level soon, but what many people do not understand is that it is the electric companies that pay for the feed in tariff and so if the government do put the tariff up, then electricity bills will continue to rise, where everyone has to pay towards it. I am not sure how I feel about it really, with many people struggling to pay their bills, it seems unfair in a way that they should be having to pay towards my feed in tariff. But on the other hand, my taxes pay towards their taxes and benefits, so maybe it is a good payback for me?

Different Ways to Celebrate Christmas

2011-12-28T10:14:00.002Z

It was so interesting seeing how my relatives abroad celebrated Christmas. Some of them spent the day in bed watching movies and others lay in front of their pool fence miami and enjoyed the sunshine. We spent a lot of money on food and drinks and presents and have been celebrating for a whole week whereas in some countries they only have the day off and then straight back to work. It is interesting and I do winder whether perhaps I should have spent a lot less and worked more. On reflection, it was nice to have the time with my family and my extended family but I do regret spending quite so much money, especially on food.

Relaxing!

2011-12-28T10:12:00.002Z

It is so funny, this is the first holiday that I have had for 18 months and I have a cold! It is funny how a lot of people would moan about that and say it was typical etc. However I do get colds from time to time and many people get them around Christmas, I think we just notice it more when we are not working. My attitude was at least I wasn't having to work while I was unwell and it was only a cold after all!

New Loft

2011-12-28T10:07:00.002Z

I am rather in shock about the loft conversion we are having done. There are all sorts of things that I am worried about. Firstly we have to clear everything out of it and the bedrooms and live on the bottom two floors of the house, which will be very cramped and difficult. Then we have to decorate the whole house after they have finished which will be a lot of hard work. We have to buy new furniture and carpets as well as pay for the job itself and it will all add up. I am most concerned about the cost of it all. We have decided to have a quality job and quality furniture and bathroom furniture because we want to get good value for money, but of course it means paying out more. We have not been silly and gone for one of the bathsofdistinction clawfoot tubs which will take up too much room, but we have gone for a brand that we have used before and trust. I think we are all hoping,as a family, that we have a significant win on the premium bonds this month. We do have the money, but I would really love to be able to do the job without having to worry about the cost. I was expecting some money to arrive from another source, but it never did and so I have had to spend more than I thought I would and although I can afford it, it has become rather a bigger worry than I had imagined.

January Sales

2011-12-28T10:05:00.001Z

It can be so tempting to go out to the sales and buy things because they are great bargains. However, before you spend your hard earned money, make sure that you think hard about whether you really need what you are buying. Just because something is a good deal it does not mean that you have to have it. Only buy what you actually need and you will find that you have a lot more money left in the bank by the end of January.

Unwanted Gifts

2011-12-28T10:00:00.003Z

I often feel ungrateful at this time of the year, but I tend to be left with gifts that I do not want. It is always hard to know what to do with those items that you have been given but do not need or want. I have had all sorts of strange things in the past and have heard even more odd stores. This year, one of my cousins got three copies of the same book and I have heard of people getting several lab coats or a huge selection of different sweets. It can be difficult but there are solutions. It can be best to just agree with people not to buy gifts. Do it now, before they can even start buying their Christmas gifts in the January sales. Another solution is to ask them what they would like for a gift, in November time and hope they might ask you the same thing.

New Website

2011-12-28T09:57:00.002Z

My husbands new website is now becoming a big focus for him. He is trying to find a good way of making money out of it. In my experience it takes a few years of getting great content on a website and some steady readers to be able to make a worthwhile income from one. However, we are hoping to speed up the process by putting lots of quality content on there to start with and then adding new content on a daily basis. I also need to use some SEO techniques to get visitors and then hopefully we will be able to start making money from it sooner.

More Stuff, More Hassle, More Cost?

2011-12-28T09:54:00.002Z

There are a lot of people who keep advising me to move to a bigger house. There are many reasons why I do not want to do this, but one of them is the cost of hassle of having more things. I think that if we have more space to put things then we will accumulate more. This creates more hassle than people realise. Think about how much time we spend tidying and cleaning as well as worrying about where to put things or what to do with things. With less stuff, we would not have this hassle and with no space to put things we cannot buy more. Hearing someone complain about the cost of their motorhome repair made me wonder whether it really was worth the hassle. It might be nice to get away from it all, but if you have to do a job you do not like to be able to afford it and then worry about maintaining an extra vehicle, does it actually add more stress or take it away?

Passive Income

2011-12-28T09:51:00.001Z

I am great believer in passive income. That is making money without having to keep working for it. That might sound very lazy, but it means that I can boost my income. There are several ways that I do this. I have investments such as premium bonds and solar panels which give me an income. I also have written books which I have for sale and they generate income with me not having to promote them. I also sell waterproof memo boards which generate some income too. My aim for the future is to have more of these passive income streams. Therefore I plan on writing more books and investing more money and so I can get more income. I would also like to find other ways of making my money work for me and it will be something I will be thinking of when I have less work to do.

Investing

2011-12-28T09:49:00.003Z

The great thing about earning well and being frugal is that you have money to invest. However, knowing where to invest can be difficult at the moment. Many people are losing money on the stock market and not getting good returns on their savings. Some are turning to investing in solid items. Many lost money on property so are looking to antiques, paintings or certified gold coins to invest in. These can be great, but it is always wise to know something about the market before you buy this sort of thing. Values of everything can change and so wherever you choose to put your money, you are taking a risk, but the more you know about that type of investment, the more calculated a risk you can take.

New Year Ideas

2011-12-28T09:47:00.002Z

I thin that a new year is always a good opportunity to take stock and plan for the future. I do not believe in resolutions so much as proper goal setting. I am pleased with what my business has achieved this year. I have had a successful year despite the economy and so am feeling positive. It was not my best ever year, but I am positive that I can improve in the future. This year I did something major which increased my income, I put my prices up. I cannot do this again this year and so I will have to think of some alternative ways to increase income.

New Business

2011-12-28T09:43:00.002Z

There are some advantages to my husband not being happy in his job. He starts to think of all sorts of new business ideas. This is great as it creates more avenues for earning income. However, it can be a problem too. He is very much an ideas person and not so good at implementing his ideas. I have already taken over one of his businesses and now am helping him with another. I try to keep a tight reign as I know that he would like to be able to buy all sorts of stationary , a receipt printer, computer software etc. He loves buying things and I think that is one of the reasons he wants his own business. However, if I keep a close eye on him and help motivate him to carry out his ideas, then hopefully he will be successful and we will have some new income streams.

Merry Christmas!

2011-12-28T09:40:00.002Z

I realise it is rather late but I have just thought that I didn't wish my readers a Merry Christmas. I am very sorry about that but I was too busy tying up loose ends to get ready for my 7 day break. This is the longest amount of holiday I have taken for 18 months and it has been great to be able to relax. However, I am already back working today and I am not supposed to be getting back to it until tomorrow!! I guess I just like working too much...well in all honesty, I like the money I get from working too much!! I think knowing there is a loft conversion to pay for in the new year as well as lots of DIY to find time to do, I want to make sure that I work when I can.

Holiday Time

2011-12-28T09:38:00.002Z

Now Christmas is almost over everyone will start to advertise their holidays. Some companies have already started and many families will be thinking about hotel, flights, car hire, vacation rentals etc. It is a good time to be really frugal though. There are many great deals out there at the moment as many people want a holiday but they do not have much money and so it is a great idea to take advantage of the good deals that are being offered. Do not be afraid to try to negotiate on price as well, they can only say no!

Last Minute Gifts

2011-12-22T09:32:00.002Z

I am never like buying last minute gifts. I prefer to think hard about what I am getting and then do some price comparisons, so that I know I am getting good value for money. I also hate it when I regret what I have bought and wish that I had got something else. I know people who go out and buy exciting things like this luminox blackout watches at tacticalwatch.com and then wonder if they should have got something else instead and end up giving two gifts. I work hard to make sure that I stick to my budget. It is nice to be able to get gifts for people, but no one wants you to go bankrupt doing so. Some people even agree to not exchange gifts, knowing that they do not care for each other any less, but they are saving each other the financial burden and hassle of choosing something. So think hard when buying gifts, make sure you spend your money wisely.

Ebook sales

2011-12-21T07:29:00.002Z

I was not expecting to see many ebook sales in December. I assumed that people would be saving their money to buy gifts for others. I have still been selling quite a few though, especially the Panini recipe book, which is surprising as I thought people would be more likely to be looking for Christmas foods, rather than paninis. It is a great thing though. I have also signed up to the ebook lending library and some people are borrowing the panini book as well. I am not sure how much income that will generate, but it is nice to see so many people enjoying the book. I am expecting sales to pick up in January, when people get given Kindle's for Christmas and decide they want some books to read or are spending the Amazon vouchers that they have received. We will see what happens! Some people thought that selling on Kindle would be a waste of time. It has not mad eme a fortune, but I have had books up there for 18 months and not promoted them at all. I have made over $300 in US sales, over $120 in UK sales and made a few sales in Germany as well, so I think it was well worth doing and will continue to write new books, when I am inspired. I am also thinking of selling on other platforms too. I have investigated Kovo, but when I enquired they did not reply, so I do not know how to sell through them yet, but I will do more investigating when I have some more free time.

Busy, busy!!

2011-12-14T14:36:00.002Z

Wow, I am so busy this week. At last I have just managed to get the children's gifts all wrapped, which I wanted to get one before they finished school on Friday. The cards are written and mostly delivered and I just have to now think about my wedding anniversary. This is a few days before Christmas and so it is easy to forget. Not sure whether to get my husband a practical gift like one of these adult step stools that I have seen lately and would be useful or do something more romantic! With the loft being done soon, we would probably be better off saving our money. I will probably leave it too late anyway, knowing me!!

Frugal Christmas

2011-12-01T08:02:00.002Z

I am working hard on not overspending this Christmas. it is lovely seeing the children all excited about getting presents, but I know that they will have one particular gift that they love and ignore the rest and so I do not want to end up paying out for things that they will not use. I am being careful in what I spend. I have heard other parents at school asking where can I buy ps3 games and talking about the hundreds of pounds they have already spent on gifts, just for their children. I think that the reason we are well off, is because we do not spend loads on gifts. The children still get excited about Christmas and enjoy their presents, even though they do not get huge and expensive things. They have plenty of toys anyway and so have no need for more and I am running out of space to put them!

Opinion of November

2011-12-01T07:59:00.002Z

November earnings were rather low. In fact work over the last few months has been quiet. It has been disappointing, but with Christmas on the way it has been nice to have had some time to prepare. I am now well on top of my preparations and so hope to get some more work in this month and earn well again, ready for paying off that December credit card, which is always a scary thought! I have some Co-operative dividends this month and although it is only £15, it is a help at this time of the year. I am also still selling a reasonable amount of ebooks on Amazon Kindle so should continue to get pay outs form those and I have been selling a few things on eBay and earning money that way. All these little bits are adding up and with my husband losing his 'on-call' money in the new year as his role at work has changed, it will be good to make sure that I am bringing in a good income.

Getting Ready !

2011-12-01T07:55:00.002Z

I guess most people are getting ready for Christmas. I am getting ready too, but in the back of my mind is the fact that we will be having out loft conversion starting just afterwards and so I need to prepare for that as well. My husband has lots of boxes in the loft which all need new homes. We had decided to copy all his old videos to DVDs but the dvd replication system we had, which could copy video to DVD is old and does not work. In the end I found some room in the under stairs cupboard for the boxes instead and we will find a solution in the future. We now need to find homes for 9 large boxes of electrical things and cable, which we will be freeing up room in garage to store. Then we have lots of books to put somewhere. It seems rather ironic, that we are working on getting more space, but we need to find storage for things that are already in that space so we can make it in to a bedroom!

November Earnings

2011-11-30T19:10:00.002Z

Pay to Blog - £24.72
PayU2Blog - £11.60
Paid Blog Posts - £7.90
Blogsvertise - £5.22

Writing - £300.29
Article Writing - £283.58
Amazon ebooks sale - £16.71

Other - £40.43
Amazon books sales - £8.53
link sales - £31.90

Making a Grand Total of £365.44

Buying Outfits

2011-11-22T08:04:00.002Z

When Christmas approaches I always feel like I want to buy a new outfit. There are those family gatherings to look forward to, parties and visits to friends. It is a nice excuse for many women to buy something new. However, being really frugal, I am not keen on this idea. I am hoping that I will be able to fit in my 'little black dress' and then I will not need to buy anything new. Last time I wore it, it was a bit snug (to say the least!) but I have lost a bit of weight and plan on losing some more and so hopefully, it will fit me. With a lack of funds all round, there are no work Christmas parties to go to, which is good. I have no other parties, so no sexy bunny costumes or anything like that needed either. I just need something for Christmas day and two family get togethers and this dress could sort me out for all of them. I must just try it on and work out how many days I have to starve for in ordre to squeeze in it!

Getting Great Discounts

2011-11-17T12:14:00.002Z

Most people know that when you shop on line it is a good idea to try to get some discounts. There are many sites that have lists of discount codes that you can use and also sites where you can earn cash back. These will not always save you significant sums of money, but the small savings can soon add up. Sites like Groupon are also good, where you can get daily deals sent to you and make much more significant savings. It can be difficult sorting through all the websites and the deals they have and so a site like Buyometric can be good, because it has a filter and so you will only see the deals that you are interested in. It puts together all the deals from various sites so saves you lots of time too. It can be a great way to save money on your Christmas shopping!

Eeek Stress!!

2011-11-14T16:07:00.002Z

I am stressed about money at the moment. We have a date to start the work on the loft conversion and I know that I will have to use most of our savings to pay for it. I am just not sure whether it was the right decision to take at this time. we decided to do it now because we thought that we would have some extra money, but it seems that money is no longer coming our way. With work very quiet and my husband not getting any on call money after Christmas, I am not sure what to do. I am spending as little as I can, but with Christmas coming, that is difficult. I am selling some things, but I do not have much of any value. I just hope my books sales pick up, some waterproof memo boards sell, I get some writing work in and we win a significant sum on the premium bonds next month....!

Are packaged accounts the new mis-selling fiasco?

2011-11-11T11:09:00.000Z

Many of us will be familiar with the mis-selling of Payment Protection Insurance – known as PPI – on personal loan products, but now a new mis-selling scandal could be brewing over sales of PPI for packaged accounts.

A packaged account is one that typically offers the holder a current account along with a variety of insurance policies such as travel, breakdown, mobile phone cover and ID theft.

The deal may also include preferential terms on other financial services such as a personal loan, or on non-financial services and products.

It's thought that 20% of British adults hold a packaged account, making them a popular financial product and there is more variety than ever, with the number of accounts available nearly doubling over the last four years.

Now, keen to avert another scandal after the mis-selling of PPI on personal loan products, the City watchdog, the Financial Services Authority (FSA), has stepped in and published proposals aiming to safeguard customers from buying packaged accounts that they don't understand or need.

Under their proposed guidelines, banks and building societies that sell insurance products as part of packaged accounts need to check if each individual customer would be eligible to make a claim against the insurance policies included and share the information with the customer.

They would also need to give customers a yearly eligibility statement to help them decide if the policies still meet their needs and make sure that sales advisors establish if each policy is suitable, telling the customer if some parts are no longer appropriate.

The FSA has also said that customers who have already bought a packaged account may be able to reclaim the money if it included policies that they didn't need or if the package wasn't properly explained.

Consumer groups believe that often people buy a bundle of insurances that they don't need or use and their research shows that paid-for extras aren't used by one third of customers.

They also deal with cases where customers try to claim on a policy but then can't. For example, they didn't register their mobile number with the bank when the account was opened, but hadn't been told this was necessary to make a claim.

There are also other customers who report that they have been pushed to buy a packaged account or even those who have signed up for a packaged account without realising they had to pay.

Of course, PPI on a personal loan wasn't inappropriate for everyone and none of this means that packaged accounts are all bad. For some people, if you choose the right account with the right benefits for you and your family, they can be good value.

If you have a mobile phone, travel more than once or twice a year and have a car, then it could be a good choice. You can do a price comparison to identify the best one for you and, as with any financial product, such as a personal loan, remember to read the small print.

Check if there is any tie-in into the account and review it every year to make sure that all the benefits are still relevant.

It is, of course, still possible to have a free current account, so don't be swayed by the headline figure of the value of the package account benefits unless you definitely think you will use them.

Following the mis-selling of PPI on personal loan products, the banks are now carefully considering their response to the consultation paper.

New Website

2011-11-07T12:31:00.002Z

My husband has been starting work on a new website Achieve Your 100 and guess who he has roped in to do the content for it! I am hoping that I will be able to sell links on some of the articles once it gets going. I am still working on him in getting the design a bit prettier and bulking up the content, but hopefully it will bring in some earnings for us. We could certainly do with some at the moment!

Finding Gifts

2011-11-06T13:26:00.003Z

It can be so difficult finding gifts and at this time of year, when everyone seems to have put up their prices because it is Christmas, it can be even more difficult. However, with a bit of hunting around, it is still possible to find affordable things without them looking cheap. For example the congratulations gifts on the Personal Creations website were perfect for something I needed recently. There are some small cheap items as well as more expensive ones and some can be personalised. It is great to look at places like this for gifts, they can really surprise you with their selection of things.

Business Thoughts

2011-11-04T12:24:00.003Z

It must be difficult for anyone thinking of setting up a new business in this economic climate. With so much uncertainty, it must be a worry, wondering whether to even bother making a start.

There are some businesses that are doing well though and so it is just a case of making sure that you have a place in the market and that you do not overspend. You will need to keep prices low, because people do not have a lot of money to spend at the moment, but you obviously need to be able to pay any salaries, overheads and have some profit left for yourself.

It is even more important to do lots of maths and calculate the cost of every little thing, right down the POS system to make sure that everything is accounted for. Then you can calculate what you will charge and see whether you think this is low enough for people to be able to afford it.

It may seem like an obvious thing to consider, but many people are excited about starting a business, love the idea of it and never work out whether it will be profitable for them and so they unfortunately do not succeed. This is a pity and is not nice if it happens to anyone.

Fifty Pound Win!

2011-11-03T08:07:00.002Z

Another £50 win on the premium bonds, which is great news. We always have our winnings reinvested and so it increases our chances of winning in the future. Such a shame I will have to start cashing them in soon, to pay for the loft conversion.

Cheapest way to heat the House?

2011-11-02T11:42:00.001Z

I often wondered whether leaving heating on a low setting all the time was better than having the heating going on and off when I am in. However, I have done some research and it seems that unless the house is triple glazed and fantastically well insulated, it is much better to only use the heating when necessary. Turning it off at night and when you are out will save money. At least there is a good reason why I am shivering in front of my computer now....really must buy some thermals!

Christmas Savings Tips

2011-11-01T11:31:00.002Z

I really am turning in to a frugal shopper - well almost. I had a good look at the reduced Halloween chocolate today, when I was doing my supermarket shop. I figured that it would save me a lot of money to buy these as little gifts for the children rather than waiting for the Christmas themed things to come in to the shops and pay extra for those. The use by dates were well in to next year and so I bought a pack of four chocolate lollies for 64p. Great bargain at half price I thought. They would have made excellent stocking fillers had it not been for the fact that I have already eaten them.....hmmm....perhaps not such a good bargain after all!

October Earnings

2011-10-31T08:15:00.004Z

Pay to Blog - £34.22
PayU2Blog - £11.60
Paid Blog Posts - £17.40
Blogsvertise - £5.22

Writing - £1317.14
Article Writing - £1291.15
Amazon ebooks sale - £25.99

Other - £34.78
Quidco - £2.61
Waterproof Memo Board - £18.00
link sales - £14.17

Making a Grand Total of £1386.14

Gifts

2011-10-31T08:10:00.002Z

I have been thinking hard about the Christmas gifts that I am going to buy. It will be difficult to find things for people which are low cost and also look really nice. I do not want to end up buying them things which they do not like or do not want, I would rather buy nothing than do that. I thin I will ask around and see what people want and work fro there. For example if someone asks for www.eyelashgrowthproductsthatwork.org then I can have a look and see whether that product is within my budget. It should be easy enough to pick up hints or ask people directly about what they want. It will save me the stress of trying to think of something myself!

Work This Month

2011-10-31T08:06:00.002Z

I have had a bit less work this month and it has actually been nice to have a bit of a break. I have earned some extra money by selling some things on eBay and that will help towards Christmas, which is good. I will also be trying to keep down the cost of the things I am buying this year, not get in so much special Christmas food and not exchange gifts with some family members. I will be keeping the children's gifts down as well, as they always get a lot of things and do not really need anything new. These are all tips out of my new Frugal Christmas ebook!

Earning Money

2011-10-31T08:00:00.002Z

Sometimes I get a bit impatient with people who say that they cannot find work. I know that I would not be prepared to do any job and also that I am lucky enough to have qualifications. However, it makes me cross when people say there are not any jobs around and so they have to claim dole money. I suppose I get cross about it because I am paying for them in my tax but also I get cross because the dole money is so high that it is better to be unemployed than work sometimes. For example something like Banquet Staff Jobs pay a low basic rate, although you may get money in tips if you are lucky. It is hard work, tiring and intense and so people would rather not do it. Most jobs do need commitment and hard work and they can be tiring but I will make sure that I will be encouraging my children to get good qualifications so that they can get paid a decent wage for the job that they do.

I know I am lucky in that my husband has a job which pays well and is talented in a skill which is in demand. But I work hard for my money, often working below the minimum wage so that I can contribute to the family income and I am sure more people could do this too.

Finances

2011-10-29T17:15:00.001Z

Work has still been a bit quiet and so I have written a couple new books instead. One is about how to have a frugal Christmas which could be very useful with Christmas approaching.

First Feed In Tariff Cheque!

2011-10-22T11:14:00.002Z

Yay, after reading my electricity generation meter on 7th October, I have received my first cheque today for my feed in tariff for £267.31. Very exciting indeed, with all this October sunshine, we could be making out very well this quarter as well.

We have also only used half the electricity that we did this quarter last year. This means that our return for the month has been £337 approximately. Pretty good going!

Do you suffer from ‘bill phobia’?

2011-10-21T13:23:00.003Z

For many people, personal finances are tighter than ever. Rising unemployment is leading to a culture of fear. Low levels of personal savings and assets add to the concern of insecurity.

Inflation is making the cost of living ever more expensive and many people are also dealing with the worry of high personal debt levels, often from a combination of credit cards, online loans, car loans and mortgages.

It's fair to say that the current economic situation is fairly difficult for many and showing little sign of letting up. Growth projections aren't good and many things may get worse before they get better - for example, if double dip recessions become a reality.

Many people are also trapped onto expensive legacy financing agreements that are locked in at far higher rates than are available now. The cost of interest can end up outweighing the original loan sum if the debt is repaid over a long period of time.

It's no wonder that for many, the sight of yet another bill on the doormat is just a step too far. More people than ever literally aren't opening their bills and adopting a 'head in the sand' approach in the hope that the problems will go away. You'll know if you have bill phobia, if you are piling paper bills into a corner and pretending you can't see them, or deleting online bills and taking the same 'I saw nothing' approach. Sadly, bills never go away if you ignore them! A late payment can impair your credit record if left unchecked. Missed loan payments will lead to hefty charges and fines and can escalate into ever bigger problems. The important thing is to flag up problems quickly and seek advice from the lender, or from a debt advice organization. There are different organizations, some of which are government-sponsored or charitable. These are best to approach first for their independent and unbiased advice. They may ask you to work up a careful budget and understand if it is possible to meet your bill repayments by either decreasing your outgoings or increasing your incomings.

They may also be able to advice on sources of financial help or funding, particularly if you are eligible for government sponsored support or tax breaks, for example.

It can also be worth looking at consolidating existing credit card debts onto a single low or zero balance account, to save hefty amounts of interest charges in the long term. Low interest online loans can also offer a better solution and many online loans are priced more competitively than with high street providers.

If you are in financial trouble, other schemes such as debt consolidation may offer a practical solution to a struggling individual.

Alternatively the financial provider may be willing to offer a payment holiday or other terms to ensure that the debt isn't defaulted on.

The important thing is to deal with the problem as quickly as possible and not allow it to escalate and grow. This means tackling bill phobia and overcoming it! Know that you are not alone and in the same position as many others. There are even help and support groups dedicated to tackling financial problems and these can be a valuable source of advice and help during a difficult time.

Saving Money on Food

2011-10-18T07:03:00.001Z

Worrying about the cost of everything woudl seem to be a good way to lose wieght. However, I have found that because food is relatively cheap compared to other treats and luxuries, I tend to treat myself to food rather than magazines, new clothes and things like that. However, things are still going fairly well. I have recently found out about hcg shots for weight loss and they are something I have never heard of. I am sure they could be good for some people but I am still just trying hard to lose wieght by having a sensible diet and exercising hard. I did it before like this and so I know that it is possible.

Work News

2011-10-18T07:02:00.003Z

Well, work picked up a bit yesterday but things are still pretty quiet. Having just calculated the cost of the furniture I want for the new bedroom, I am beginning to worry a bit, especially as some money we thought woudl be coming looks like it will not be. I do not want to compromise though and am prepared to wait rather than get a cheap and nasty alternative. Where is that premium bonds big win when I need it?!!

5 Assumptions to Avoid when Re-mortgaging

2011-10-13T21:52:00.002Z

Remortgaging a property can seem like the perfect solution when finances are tight, but is it always the best course of action for homeowners? Although releasing equity in a property can usually generate cash to satisfy other debts and expenses, there are a number of circumstances in which remortgaging does not necessarily pay off. Using specially designed mortgage calculators, such as the free tool provided by moneysupermarket.com, homeowners can work out exactly how much they can save by switching to a new lender. Listed below are five common assumptions to avoid when remortgaging.

1. Acceptance is automatic

It is often assumed by homeowners that acquiring a new mortgage in place of an existing home loan is a relatively straightforward, trivial matter. Unfortunately, this is rarely the case. Remortgaging is almost always subject to the same rules, laws and checks as new mortgages. Thus, acceptance for remortgaging should never be taken for granted.

While the economies and housing markets of the world remain in a state of flux, it is entirely possible that a homeowner who was approved for a mortgage in the first instance might fail to meet the criteria for remortgaging several years later.

2. Affordability is not a major concern

Another popular assumption among homeowners is that remortgaging is always affordable; indeed, it is usually assumed that remortgaging is inherently less costly than a new mortgage. As with many assumptions in life, affordability cannot be guaranteed when it comes to remortgaging.

The economic climate is particularly bleak at present and any attempts to predict how interest rates and house prices will change in the coming months are at best unreliable. As rates and values change, so too does the affordability of remortgaging.

3. Remortgaging a property is quick and simple

If a homeowner applies for a new mortgage with their existing lender, a quick, simple and relatively hassle-free remortgaging process is not inconceivable. Not necessarily likely, but certainly not inconceivable.

When choosing a different lender, however, remortgaging can become a slow, complicated process and one drawn out by legalities, technicalities, credit checks and so on. In short, homeowners should never assume that remortgaging is quick and simple.

4. Remortgaging is subject to no added fees or expenses

As for the speed and ease with which a property can be remortgaged, homeowners who stay with an existing lender but choose a different deal can enjoy minimal added fees and expenses.

Homeowners who shop around and find new lenders, meanwhile, are likely to encounter a number of additional expenses, including legal costs, admin fees, surveyor's fees and so on.

5. Remortgaging does not reflect the state of the economy or realty market

A strikingly odd assumption held by many a homeowner is that remortgaging is somehow immune from all other aspects of the economy. Unfortunately, or perhaps fortunately, remortgaging is no less influenced by economic factors than a new, standard mortgage.

One consequence of this is negative equity, which occurs when the value of a property is considered to be less than the amount of debt attached to it. As house prices continue to fall, many homeowners are realizing the effects of negative equity, which can preclude any hope of acquiring a new mortgage.

5 Assumptions to Avoid when Re-mortgaging

2011-10-13T21:52:00.000Z

Remortgaging a property can seem like the perfect solution when finances are tight, but is it always the best course of action for homeowners? Although releasing equity in a property can usually generate cash to satisfy other debts and expenses, there are a number of circumstances in which remortgaging does not necessarily pay off. Using specially designed mortgage calculators, such as the free tool provided by moneysupermarket.com, homeowners can work out exactly how much they can save by switching to a new lender. Listed below are five common assumptions to avoid when remortgaging. 1. Acceptance is automatic It is often assumed by homeowners that acquiring a new mortgage in place of an existing home loan is a relatively straightforward, trivial matter. Unfortunately, this is rarely the case. Remortgaging is almost always subject to the same rules, laws and checks as new mortgages. Thus, acceptance for remortgaging should never be taken for granted. While the economies and housing markets of the world remain in a state of flux, it is entirely possible that a homeowner who was approved for a mortgage in the first instance might fail to meet the criteria for remortgaging several years later. 2. Affordability is not a major concern Another popular assumption among homeowners is that remortgaging is always affordable; indeed, it is usually assumed that remortgaging is inherently less costly than a new mortgage. As with many assumptions in life, affordability cannot be guaranteed when it comes to remortgaging. The economic climate is particularly bleak at present and any attempts to predict how interest rates and house prices will change in the coming months are at best unreliable. As rates and values change, so too does the affordability of remortgaging. 3. Remortgaging a property is quick and simple If a homeowner applies for a new mortgage with their existing lender, a quick, simple and relatively hassle-free remortgaging process is not inconceivable. Not necessarily likely, but certainly not inconceivable. When choosing a different lender, however, remortgaging can become a slow, complicated process and one drawn out by legalities, technicalities, credit checks and so on. In short, homeowners should never assume that remortgaging is quick and simple. 4. Remortgaging is subject to no added fees or expenses As for the speed and ease with which a property can be remortgaged, homeowners who stay with an existing lender but choose a different deal can enjoy minimal added fees and expenses. Homeowners who shop around and find new lenders, meanwhile, are likely to encounter a number of additional expenses, including legal costs, admin fees, surveyor's fees and so on. 5. Remortgaging does not reflect the state of the economy or realty market A strikingly odd assumption held by many a homeowner is that remortgaging is somehow immune from all other aspects of the economy. Unfortunately, or perhaps fortunately, remortgaging is no less influenced by economic factors than a new, standard mortgage. One consequence of this is negative equity, which occurs when the value of a property is considered to be less than the amount of debt attached to it. As house prices continue to fall, many homeowners are realizing the effects of negative equity, which can preclude any hope of acquiring a new mortgage.

My latest book

2011-10-13T21:39:00.001Z

Do you constantly feel tired, irritable when you skip meals or have trouble sleeping? Then it could be that you have hypoglycaemia. It is a disease that is often misdiagnosed but it can be simple to cure the symptoms by a change in diet. Not a faddy, expensive diet either, but a manageable, healthy, balanced diet. No strange supplements or hard to get ingredients required, just well planned meals, regular eating and wholesome ingredients. The book tells you about the disease and how to stop the symptoms spoiling your life. The book includes meal plans and recipes to get you started.

Work in the House

2011-10-13T06:59:00.001Z

Thinking about the loft conversion has made me realise how much there is to do in the house. We need to get that work done, then sort out the carpets and decorating. We are putting the staircase in our built in wardrobe and so we will need to buy a wardrobe and the children could do with one as well and our chests of drawers are broken and we need beside tables. Then in the sitting room we could do with a new TV stand because ours is just a scruffy table and my husband has his eye on a lg home theatre system but even I admit a new TV could be nice. I have already decided that with our £25,000 quote for the loft it will probably cost £10k more because we will be putting in some sound proofing, buying carpets and furniture and decorating and I think this could easily rise. I need to hope some work comes in soon.....!

Education

2011-10-13T06:54:00.002Z

Having just had parents evening, I found myself explaining to the children that I would be working with them on the things tehir teacher said they needed help with, so that they can get good qualification and get a good job. It must be impossible for them to understand, at the age of six, what an impact tehir school work could have on tehir future. I was lucky in that I went to a good school and so was pushed hard and although I was a poor performer compared to the rest of my class, I still went to university, got 2i for my degree and then went on to do a Masters. I now feel that I can do any career I want as I know I am capable of getting the relevant qualifications. I know that they will do well, but I want to make sure that they do well early, they get used to putting in the necessary effort and they begin to enjoy the rewards that this brings before they start realising that if they are too good, other children get jealous. I do believe that we learn to perform badly so that we can fit in better and so I want to make sure they go to a school where this will not happen. In my school you were bullied if you were 'thick' rather than clever and although bullying is not good at all, there will still be a perception of accepted cleverness at particular schools and I woudl rather that be a high expectation.

Christmas

2011-10-13T06:52:00.004Z

I am already starting to think about Christmas. I was watching people packing shelves with Christmas cards in the supermarket the other day and thinking about the dates for the school Christmas events that the PTFA will be doing. I have even ordered the advent calendars for the children and husband. I am starting to think about whether we might still have a big hole in our roof when it is Christmas and so may not be able to entertain, which we are supposed to be doing. I have even been noting gift ideas such as this online guitar tuner I saw. I am definitely going to start buying if I think the price is right.

Lack of Work....

2011-10-13T06:50:00.002Z

It is a bit of a scary month at the moment. Despite both my customers telling me that they have more work for me, I have not been sent much at all. This means that I have only been working on Monday's and Thursday and not even a full days work at that. Although it has been nice having a break and I have written a book, and am working on another as well as working on my husbands new website, I would much rather be seeing some income coming in right now.

Investing

2011-10-12T17:02:00.002Z

At the moment it can be so difficult knowing where to invest your money. You could choose to go with a specialist such as chemical investment banking if you know that the particular area is likely to thrive. It can be difficult to know this though, unless you are an expert in chemical mergers and acquisitions. Of course it may be a field that you work in or that you regularly invest in.

If your financial advisor recommends investing in a specialist area, then it is a good idea to do a bit of research yourself. Although they are the expert, it is useful to have some knowledge yourself, to know what you are getting in to.

It can be a good time to be safe with your money but the big returns only come if you make riskier investments and so you have to decide whether you want to take the risk or not.If you can afford to lose the money, then a risk is probably a good idea but otherwise it is more sensible to be safe. Specialist company investments can be safe or risky and you should be able to assess the risk by doing some research and decide whether this sort of investment would suit you.

Slow Earning This Month

2011-10-09T07:03:00.002Z

Things are slow this month. My one customer owes me a lot of money and has not sent me any more work. My other customer is too busy to send me more work. I have therefore had a very quiet week. It has actually been rather nice to have a break but I am beginning to worry about the fact that I do not have much money coming in. I have just completed a new book for Kindle and am in the middle of writing one. I am also helping out my husband with a new website. I have been also applying for small jobs, to try to fill in, but do not want to take on anything too big while I am so busy. It is a bit of a tricky time and I really need the money as the loft work is likely to be starting soon.

Blog Posts

2011-10-08T13:46:00.002Z

I have been looking around for some new ways to make money. With me not having any writing work at the moment, I need some more income. I have just been looking on Sponsored Reviews.

I have all of my blogs registered with them and I have earned over $300 from them in the past but have not used the site for a long time. I thought it was time to have alook at it again and see if I can get any work. You determine how much you want to charge per blog post, but they take 50%. This means if you want to get $10 for a blog post, then you will have to charge the potential customer $20. It is all very clearly explained on the website.

You can register your blogs on there and once approved you can bid for jobs and if the advertiser likes the look of your site, they will offer you work or send you a request that you do the job for less money. It is up to you to decide whether you want to go ahead.

I am not sure if it will bring much work in, but I figure it is worth a try as it does not take long to write a short article and the payments are much better than what I get for my writing work.

What mortgage choices are there for first time buyers?

2011-10-07T14:54:00.000Z

With banks slowly relaxing their vice like grip on their purse strings, many first time buyers are starting to edge back into the market, but what options are available for those looking to step onto the property ladder?

For those unfamiliar with the mortgage industry, the plethora of products can seem overwhelming at first and make it difficult to know what to look at first.

A good starting point for any new buyer is a comparison site such as moneysupermarket.com, where you can check out the current deals in the market and see the rates on offer.

Whilst lenders are slowly starting to extend more credit, getting a mortgage is far more difficult than it used to be and the choices open depend on how much money you have to provide as a deposit.

As a general rule, the larger deposit you have, the more willing the banks will be to play ball and offer far lower interest rates than those on higher loan to value mortgages.

It is possible to find a mortgage with just a 5% deposit, but expect to pay a significantly higher rate of interest than with a 20% deposit, meaning it is not just more expensive, but more exposed to fluctuations in the market unless you pay to lock in the deal.

However, the majority of lenders will prefer not to lend to first time buyers with anything less than a 10% deposit, especially with the volatility currently in the property market and the economy.

The government has launched a new initiative to help first time buyers who only have a 5% deposit, which essentially provides a 20% loan that is not repayable for the first five years. This provides banks with the security they prefer and also means access to cheaper mortgages as just 75% of the property value is being borrowed.

Once you know how much you need to borrow from a lender, you need to decide what kind of mortgage you prefer.

There are many types of mortgage on the market, to suit all kinds of pocket as well as attitude to risk.

Fixed rate deals are very popular with new mortgagees as they mean the cost will not change regardless of what happens to interest rates, allowing household budgeting to be calculated with certainty and eliminating fears of rocketing repayments.

It is possible to find some fixed rate deals that are free, but many charge a fee for locking in the offer and they do lack flexibility should the interest rate fall.

Tracker mortgages are another popular option that allow the borrower to take advantage of any drop in rates but as they follow the dips and peaks in interest, the repayment levels are liable to fluctuate up as well as down.

One other option offered by some banks is a discounted rate mortgage, which still moves up and down like a tracker but at a lower rate of interest, fixed for between two and five years.

Experts suggest not setting up repayments at the top end of what you can afford, instead recommending leaving enough wiggle room for if interest rates shoot up or unexpected expenses crop up.

Different mortgage products are coming onto the market all the time as lenders start to actively look for new customers. Comparison sites can offer a real helping hand in identifying the best new deals and allowing borrowers to compare key features for different products.

Premium Bonds Win

2011-10-07T14:51:00.002Z

We won £75 between us on the Premium Bonds again this month. This was a really great win again. The average interest is 1.5% and my husband is getting twice that and I am also getting above that too. It is really good, especially with savings account performing so poorly at the moment. I am not sure whether I will continue to see it as a good investment, once I take more money out of the account. I will need to withdraw significant amounts when we have to pay for our loft conversion and so this could really effect the return on the investment.

Halloween

2011-10-04T07:06:00.004Z

I guess some people will now be thinking about Halloween and getting things like costume kingdom coupons to sort out their party outfits. This is something that we do not partake in though. I have always been worried that the boys might find it all a bit scary, but now that they are six years old, I wonder whether they might find it fun to open the door and give sweets out to the children.

I do think those special Halloween sweets are a big rip off. My neighbour always bakes flap jacks and I wondering, if we decide to go ahead, whether to bake chocolate cup cakes for the children instead of buying sweets. Will be a fun thing to do with the children and probably cheaper.

Nice Weather!

2011-10-04T07:05:00.001Z

I do not enjoy sunny weather that much. I have been looking forward to getting out my warm jumpers and cardigans and snuggling up in front of the log burner. However, I have to keep in mind that sunnier days mean more return on my investment in solar panels. Being someone who does not like the heat, at least there is now some advantage to it at last!

Borrowing Money

2011-10-03T16:45:00.004Z

Despite the banks being told a good while ago, that they needed to lend more money, many people are still finding things difficult. My neighbour has had her house on the market for a long time and a few years ago, the houses in the street were being snapped up. It just shows how things have changed.

Borrowing money is something that many of us need from time to time, whether it is pay day loans, mortgages, student loans or whatever. There is no nice sort of debt, no good debt. It is always better to be in credit, but the demands of today's society often mean that we need money.

If you find yourself in this situation, then it is a good idea to make sure that you find the cheapest way to borrow money. There are high costs associating with borrowing money and many people just compare the interest rates. However, there is more to it as there are certain charges and it all depends on the term of the loan. So a high interest short term loan could cost less than a low interest long term loan. Therefore work out how much you will pay back overall, rather than each month and it gives you a much better basis for comparison.

So although there is no good debt, there are better ways to borrow money and it is worth researching hard, to find out about them.

September Earnings

2011-09-30T14:52:00.003Z

Pay to Blog - £36.62
PayU2Blog - £14.80
Paid Blog Posts - £21.82

Writing - £575.51
Article Writing - £515.60
Amazon ebooks sale - £59.91

Other - £107.31
Quidco - £2.82
Waterproof Memo Board - £39.00
Google Adsense - £65.49

Making a Grand Total of £719.44

Adsense Payout

2011-09-30T09:07:00.002Z

It was lovely to get a Google Adsense payout today. I tend not to even think about it and it is fantastic when I get one. It is a great passive income. I now have a small set of sources of passive income : Adsense, ebook sales, feed in tariff on solar panels and Premium Bonds. It woudl be lovely to have enough passive income to cover all of the bills, but at the moment I will probably be getting about £1500 a year by my rough estimation, which is still a nice income to have for doing nothing at all.

Already Planning for Christmas

2011-09-30T06:59:00.001Z

I took a few minutes to have a think about Christmas gifts yesterday. The children have so many toys, that the ydo not need any more. I will be hoping to decorate their new bedrooms before Christmas and so was hoping they might be happy with new carpets or chest of drawers or something like that. I am not sure that six year olds will be happy though. I cloud always get them a token gift as well. They have asked about having cars, Lego even dressing up clothes likeiguanamed scrubs, but I am not sure that they need any of these things as much as a carpet. But is giving a six year old a brand new carpet really a sensible idea or should I just wait until they have moved out before I get the flooring in the house looking nice?

Another Busy Month!

2011-09-30T06:57:00.001Z

It has been a busy month again. I am hoping a payment will come through today and will swell my earnings, but if it comes next month instead, it will still make my yearly earnings look good. If it comes in today I will have had my best ever month, earnings wise. Still, if it comes next month then that will probably be my best month instead! It couldn't be coming at a better time, with the house renovations imminent.

Financial Education

2011-09-27T06:56:00.004Z

I have often written about how I feel that children should have financial education at school. For those of us who already know how to manage their money, the children will learn b example or we may be likely to teach them our views. But those who have parents who do not know how to manage money are likely to be destined to a similar future because they have no one to teach them any different. There are ways that parents can become educated though, you do not have to give up hope. You can do something like a credit counseling course which should help you to get out of debt and then have the knowledge to pass on to your family. If things have got really bad then you can even do an online bankruptcy course. People can get so desperate that they think bankruptcy is the answer, but it should only be a last resort. It is not a situation you should put yourself in unless you have to. However studying a bankruptcy class online will enable you to learn all about it, how to declare yourself bankrupt, what to do afterwards and how to move on. Financial knowledge is so important, it is wise to spend as much time as you can, learning about it.

Financial Education

2011-09-27T06:56:00.001Z