How to start saving money?

While living like it’s the end of the world is okay in your 20’s, by the time you are ready to hit 30, you must have started saving up. Though it may sound easy, anyone who has tried will tell you that it’s not. Here, what you have to remember is to make small changes. If you decide to cut your spending to half of what it is now from the next month, there is a 90% chance that you will fail. So, start by changing minor things. We will discuss here some tips that will help you to start saving. Continue reading

Fortescue ready to pay off debt

Fortescue Metals company’s goals

It has been told by Fortescue Metals that its huge expansion project is fully completed. It also announced that the iron ore miner is also capable to pay off its $12 billion debt.  An enormous debt pile has peaked and good things will start from here according to Nev Power, chief executive. Iron ore miner is considered as world’s fourth biggest boosted its balance to almost $US2.8 billion till the end of the September month. Continue reading

SMSF home loan at low cost

Online lender, loans.co.au has launched a low cost self managed super fund home loan (SMSF home loan). The company’s managing director, Marie Mortimer said that this loan is more than 1% cheaper than the interest rate offered by the big four banks of Australia for a standard SMSF loan. She describes this launch, as a game changer. Continue reading

The Non-Domiciles of U.K. under HMRC surveillance

Smith and Wiiliamson, of Mondaq, in their article on 17th October wrote that HMRC U.K. is looking forward to non-domicile U.K. residents to increase its tax returns. HMRC has issued letters to the non-doms of U.K. who opted to pay taxes on remittance basis, in the financial year 2012-13. Continue reading

Golden mortgage rules

The best way to build your wealth is to pay your mortgage. It sounds more like spending money in paying debts than saving, does it not? However, this tactic will work. In a big picture effect, you are not just paying your debts; you are avoiding the interest, you are entitled to pay in future.

Pay back the mortgage soon

Every dollar you pay towards the mortgage is equal to the interest rate you are charged on the mortgage. For example, if you are paying 6% interest on the mortgage, you earn 6 dollars for paying one dollar into the mortgage. It is tax free for the 6 dollars as it is not an income; it is a cost that is saved. Continue reading

US shutdown begins

There was a hot brinkmanship negotiation between the White House and the Republicans as the latter announced that they will correspond to the stop-gap measure only if the former agrees to delay flagship healthcare program, by a year. This negotiation was expected to come to a finale by Monday, but it failed. Nearly 800,000 public services have come to a halt by Tuesday and the two parties have not come to a conclusion yet.  This shutdown will reduce the quarterly GDP growth by 0.15% for every week, the shutdown lasts for. Continue reading

Best five spending slits that will enhance your savings

According to few financial experts like Michael Miller, Rodney Bukuya, Kristy Lamont and David Rae there are few expense slits that should be preferably avoided.

No credit cards

The financial planner Rodney Bukuya states not to borrow for something that will not make more money for you. He insists on using debit cards and avoiding personal loans, except while buying a property. Continue reading