It’s happened to most of us. Your neighbour or coworker just told you about an app that helps you generate passive income. All you have to do is invest, and slowly you will watch your savings grow without doing anything or speaking with anyone. Tempting, right?
Of course, with a healthy bit of scepticism, many of us wonder, “Well, what’s in it for them?”, or “How do robo advisers…
Real Estate Investing in Your 20s (7 Essential Tips)
August 2, 2020
For many people, the idea of investing in real estate in your 20s sounds absurd. After all, most people in their 20s are just starting out and may not have large amounts of money needed to invest in properties. In fact, the majority of those in their 20s are focused on…
What Is SIPP? (An Ultimate Guide To SIPP UK)
February 5, 2020
TL;DR:
A Self-invested personal pension (SIPP) is a tax-advantaged
retirement account in the UK. SIPPs give individuals the freedom to
invest in a wide range of securities and not just those approved by
the company. You must be 55+ years old to withdraw from your SIPP.
TL;DR: You should try to spend no more than 35% of your gross (pre-tax) income on your mortgage. A more conservative recommendation is no more than 25% of your gross income.
If you are currently in the market for a house you will first need to figure out exactly how much you can afford.
There are a lot of costs that go into buying a house and even a scrupulous planner can get overwhelmed…
How Has Airbnb Affected the UK’s Housing Market?
January 11, 2020
What Is AirBnB?
Unless you have been living under a rock you have probably heard of Airbnb. Founded in 2007, Airbnb has exploded into a multi-billion dollar business and operates in over 190 countries across the world.
After all, the idea of being able to rent a cozy…
4 Things to Look Out for When Buying A House Or Property
December 12, 2019
We understand that the property market for young people is abysmal According to Statista, the average price of a house in the UK as of July 2019 was £232,000, up almost 100% from the average price of £157,000 in 2009.
Considering that the median annual disposable…
Pound-Cost Averaging: Best Passive Investment Strategy?
December 10, 2019
What Is Pound-Cost Averaging (PCA)?
Pound-cost averaging is an investment method that decreases the overall volatility on purchasing equities and securities by spacing out investments over equal periods of time. Pound-cost averaging is a smart investment strategy for risk-averse investors who have long-term investment goals.
Across the pond, they call it dollar-cost averaging, for, well…
Most of us were never explicitly taught how to handle money. While financial education courses are included in secondary school curricula in England, these mandates only apply to locally governed schools, of which only make up about 60% of England’s schooling system.
How Much Should You Spend On Rent And Utilities In The UK?
November 17, 2019
Traditional wisdom states that basic housing expenses like rent and utilities should cost no more than 35% of your annual monthly income. We know this is hard to do in today’s economy and housing market, so we recommend a more relaxed percentage of 45%. Quite often the…
How Much of Your Income Should You Spend On A Car In The UK?
November 15, 2019
TL:DR: You should try to never spend more than 20%of your annual income on car costs. We recommend keeping it lower at 10%-15%.
Your choice of car has a huge effect on both personal freedom and your finances. For many people, a car is the second most expensive item in their budget, second to housing expenses.
But, buying a car is essentially a necessity in some parts of the…