We all want to be financially independent, but becoming financially independent can be harder than it appears. Reaching this goal takes a lot of hard work, dedication, and discipline to keep you on the right track and moving forward. The benefits of personal financial freedom are worth every sacrifice and you will be amazed at how much your stress is reduced when you do not have to worry about money every minute. Here are some tips that can help you increase your financial independence by a considerable amount.
It is no secret that achieving financial independence is more difficult now than it was in the past. The income gap between the rich and everyone else has increased as wages have stagnated over the past decade. Some people are despondent about their situation and think that nothing is ever going to change regarding their finances. This can be a self fulfilling prophesy if you allow it to be. If you want your financial situation to change you have to think positively and be proactive. No one can change your financial situation but you.
Set Reasonable Goals
When trying to improve your financial security, it is important to think reasonably about your situation. It is an unrealistic goal to be completely free from any financial obligations, but you can position yourself to where you are able to pay all of your monthly bills and still have plenty of money left over for saving and for the things that you enjoy. Your goals should leave you less vulnerable in times of financial hardship and help you gain firm control over your financial situation. Your first priorities should be to pay down your debt and save enough money for an adequate emergency fund.
Focus On Having A Positive Net Worth
Your net worth is the amount of money that you have saved for the future versus the amount of money that you must pay to creditors. If you owe more to creditors than you have saved, you have a negative net worth, which will put you at a serious financial disadvantage until the situation has been corrected. Because the interest rate that you pay on debt is much higher than the interest rate you will receive on savings, it doesn’t make sense to save a lot of money when you are carrying a lot of debt. Pay off your debts as quickly as you can so that you can stop paying interest to creditors and use your money to secure your future, not theirs.
(Guest post by Ava Watkins)
Whether it was behind the wheel of a car or while you were at work, have you been injured in an accident that wasn’t your fault? Don’t suffer in silence; instead, read this guide to claiming compensation for your personal harm.
Injuries are notorious for causing financial difficulty and even potential, life-changing damage. Rather than pay for others’ mistakes, get to know the compensation claims process and receive the reimbursement that you deserve.
Do You Have A Claim?
Whether or not you have a claim largely depends on your ability to prove the negligence of another party, and that this negligence directly led to your accident and injury. For the pain, suffering, and loss of income incurred, you can be reimbursed in court. A personal injury solicitor can help you put together a case to present to third parties as evidence, so take time to find a lawyer that’s experienced in personal injury claims.
When Should You Claim?
The sooner you feel able to make a claim, the better. Take down details of all the witnesses present and their details. Use photography to highlight why the accident was not your fault – if you were injured at work due to poorly managed equipment, you could use a camera phone to take pictures of the damaged tools that led to your medical problems.
Claiming while the accident is fresh in your mind will help you keep to the facts. Also, an independent medical specialist will be able to analyse the extent of the damage at an early date. If you want to claim three years after the accident, you can, but any later and you won’t be able to take the case to court, so it’s best to get the proceedings out of the way, as soon as possible.
How Much Does It Cost To Make A Claim?
With all good no win, no fee solicitors, you won’t have to pay any fees out of your compensation for their services. Instead, their payment will come from the negligent party, so you can enjoy the full royalties, and won’t have to pay a penny. No win, no fee solicitors are a great option for cash-strapped individuals who can’t afford to lose. With his or her pay cheque riding on you winning the case, your lawyer can’t afford to lose either, so they’ll fight your corner well.
How Much Compensation Will You Receive?
Of course, the amount of compensation you’ll receive will depend entirely on the severity of the injury and the financial losses incurred. You can receive cash for suffering, pain, and disability.
Additional damages will be awarded if you’re claiming because you’ve lost a loved one. Obviously, this is a very serious situation and money will be provided for funeral expenses and compensation will help support the family; especially if they’ve lost the main bread-winner of the house…although nothing could obviously make up for this loss.
Ava Watkins is a freelance journalist with an interest in rights and law. She writes on behalf of Jigsaw Law Solicitors, specialists in road traffic accidents. Visit their linked page for further information.
Many people do not understand the importance of checking their credit history and keeping their credit score as high as possible. Your credit profile has the ability to affect many different areas of your life and people that have poor credit scores find the going much harder than people that have credit scores in the good or excellent range. While some hiccups in the credit world are unavoidable, you should do everything that you can to keep your credit in good standing. Here are some good reasons why it is important to pay attention to your credit.
If you are not prepared to buy a home, renting a place to stay may be your only option. Most rental companies and private landlords conduct a credit check on potential tenants to see the likelihood of them paying their rent on time each month. People that have poor credit scores may be denied the opportunity to rent the home or apartment that they desire or have to pay a much higher security deposit for the home. In order to keep your housing options open, you will need to have a decent credit score.
Having good credit means that you should be able to get emergency funding when it is needed. Whether you need to apply for an additional credit card, obtain credit from a furniture store to replace ruined possessions, or secure a loan for a new car, having a decent credit score will make the process much easier and reduce the risk that your request will be denied. If you don’t have access to affordable credit when an emergency strikes, then the only alternative is expensive credit, like payday loans or title loans.
Transactions That Require A Credit Card
There are a number of transactions conducted regularly that require the use of a credit card. If you would like to take a vacation, you will need a credit card to reserve a hotel room, rent a car, or buy plane or train tickets online. In some cases, getting a video rental membership or a gym membership requires having credit card information on file with the company. Some people choose to use debit cards for these types of transactions, but the amount of money put on hold on a debit card to cover expected charges could be many times more than you will actually spend for the transaction.
If there’s one thing that we can all agree is vital for a cosy and comfy home, it’s a touch of interior design. Unfortunately many of us simply can’t afford to splash out on a fully-fledged home makeover. This is especially true for those of us who simply want to spruce up what we’ve already got rather than starting something from scratch.
Thankfully there are plenty of ways that you can make your house or apartment really shine, and it’ll cost you a lot less than you think. If you’ve been looking for a way to give a touch of magic to your home, we’ve put together just a few ways that you can do it without breaking the bank.
Vinyl Decals for Your Walls
We’re all well aware of the traditional wall coverings like wallpaper and paint, but sometimes they can be price restrictive. Plus, painting or wallpapering can be a huge job that can put your home ‘out of action’, so to speak, for a good few days or weeks. No need to fret though, because there is a simple and affordable way to give your walls a lift: vinyl decals. These come in a variety of shapes and sizes, and can really breathe new life into a room. They’re easy to apply and leave no sticky residue, so you don’t have to worry about damaging the existing wall covering. Examples of the many designs available include a tree with birds sitting on the branches, and a giant tea pot which is great for a kitchen. Some of the vinyls even act like chalk boards to write on.
Best of all, you don’t need to resort to online payday loans to pick up a great set of vinyls; they are very affordable at just a few dollars each, with eBay being a good place to start shopping for decals.
Candles and Light Fittings
You can paint a room until the cows come home and it will only ever do so much for a room. Change the lightning, though, and you’ll discover a world of possibilities.
No matter what color or design your existing room has, by placing some candles or lamps in strategic places, you can make a real difference to your home. Throw in a few dimmer switches and you can really create a magical atmosphere in any room. Plus, candles and lamps cost just a few bucks (or even less) so you don’t need to be a millionaire to add a touch of class to your surroundings.
Rugs, Cushions and Throws
It can’t be overstated how important accessories are in a room. More specifically, the cushions, rugs and throws in the room. You can create a new world of color using just a few items which will cost you no more than a $20 each, if that. Plus, if you already have contemporary leather sofa or something similar, you can cover all or part of it with a colorful throw that will transform it into something new. Of course, if it’s a new-ish sofa, you’ll probably want it to take pride of place in your room, but even the most beat up and grubby sofas can be made to look brand new with a bit of material draped over them.
Again, this is a very affordable solution, with lots of different companies selling throws and rugs at a great price. You could even check out thrift stores for low-cost materials, cushions, and other room accessories.
Mix up Your Furniture!
If you’re on a really tight budget, you could give your room a lift without spending any money at all. Simply take your furniture and re-arrange it – you might be surprised at what a difference a change of layout can make. This is especially fun in bedrooms, where the layout doesn’t tend to change from one year (or house) to the next, and there are no shortage of inspirational room design ideas on Pinterest.
Keep your rooms alive and dynamic by changing their layout as often as you feel like it. It’ll be fun for you, and keep any house guests looking forward to visiting your place. Best of all, this is completely free. It might not technically add anything new, but it can certainly make it feel like it has.
Photo by Tapisserie Decoration