A Wise Mom’s Guide To Investing In Gold

Any investor would agree that the ultimate cash hedge investment will always be gold. If you want to have funds ready for your children’s future, investing in gold is a great choice. As money falls, the value of gold is predicted to rise inevitably. As a wise mom, it is best for you to take advantage of this opportunity. But do take note that there are many ways for positioning your portfolio to profit from buying and selling gold. So, you need to reconsider if you are investing in gold like you actually should.

In the following paragraphs, we have rounded up three common ways to invest in gold. These methods are far more appropriate for you than the ones you have been using for a while now.

Direct Ownership

One of the most common methods of investing in gold is through direct ownership. The stability of the value of gold has been recognized for centuries. A lot of people have stored piles of physical gold for many years. This is because gold is the only real money whose value cannot be changed or controlled. However, gold’s value can still fluctuate based on the basic rule of demand and supply. But still, physical gold is still the best form of gold ownership. Once you locate the trusted pawn shops in Melbourne, it will be easier for you to understand about gold’s value. They have experts who can help you gain the knowledge that you need.

Gold Exchange-Traded Funds

Exchange-traded funds or ETFs are rising in popularity. These are a type of mutual funds that trade on a stock exchange. The portfolio of these ETFs is fixed beforehand so they are not prone to change. They offer the most practical way of holding gold in an investment portfolio.

Gold Mutual Funds

These funds hold stocks of various well-known companies that produce known quantities of gold every year from their own established mines. The company you choose is entirely your decision. You can research about certain companies before finally making up your mind about investing in gold mutual funds. If you have been investing in gold for a while now and have eventually become an experienced investor, there are various options available for you. But, take note that there are still risks that you may encounter.

People who have invested in large quantities of gold can take advantage of numerous assets because they have the necessary resources to purchase whatever asset they wish to have. And even when you are a huge fan of this precious metal, always keep in mind that no investment is completely risk-free so you shouldn’t go overboard on how you allocate your investments.

Investing in physical gold or even in gold funds is known to offer greater stability during financial emergencies. Gold is becoming a very popular method of investment these days. If you are planning to join the bandwagon, research well and choose an investment option wisely.

Do you have more thoughts to share with us? Write them in the comment section.

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My Money Resolutions For 2017

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You may recall that I also run a personal finance blog and follow a lot of personal finance bloggers, both from the UK and further afield. I’ve seen plenty of these bloggers talk about their resolutions for the year, especially when it comes to financial resolutions and I thought it would be fun to share mine. I briefly touched on some financial resolutions in my 2017 goals but here is what I would like to achieve in 2017…

Get debt free or as close to debt free as possible

This is my main resolution for 2017. It is proving quite difficult with a newborn but I am hoping to work extremely hard to earn more income this year and in turn pay off as much as possible. Things have been tough these past few weeks so my income has taken a slight hit – I am not taking any proper maternity leave as the maternity allowance wouldn’t cover my bills let alone any debt repayment- but I am hopeful this will change dramatically once I get into a proper routine with Olivia and know what she is like – I’m still discovering her at the moment though. Some of my debts are quite small and could be cleared quite quickly so I am considering opting for one of the quick loans available (as I have previously considered a debt consolidation loan) to clear a few debts at once and then only have to pay one thing back rather than trying to juggle four or five.

Increase my income

I am already working on this one and whilst it has so far been a little tough with Olivia arriving into the world earlier than expected and some other major emotional issues going on in my private life, I am hopeful that I am able to build on my income in 2017. I recently raised my rates and people are agreeing to them so I know I am on the right track.

Build up my savings

 Some people find it foolish to consider building up savings when you have debt but everybody should have some form of savings behind them. I want to try and build mine up through a variety of ways – selling old items, completing online surveys, maybe even getting back into picking up ‘roadkill’ (coins people have dropped). I will be saving them in a pot and taking them to put in my savings account every month with Jack and Olivia when they deposit into their bank accounts too.

Build my credit score back up

This is something I am adamant I must do in 2017. When Steve and I first met, mine was pretty amazing and his was shocking – now the tables have turned. With me being self employed, my income is very irregular which has caused the odd payment here and there to be missed – whilst I’ve always caught up or arranged something with the company involved, my credit score has taken a battering and I need to change this before the end of the year.

What money resolutions do you have for 2017? What one thing do you hope to achieve?

Improve Your Credit Score & Reduce Your Christmas Debt

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It is said that the average British family spends £35,0001 on Christmas across their lifetime, racking up £2,494 in interest alone, according to an analysis from ClearScore and economists, Cebr. This makes the lifetime cost of Christmas far higher than the average British annual salary of £28,0002 – these figures are astounding, aren’t they?

Every year a substantial number of families use credit to make up for the extra Christmas spending. One in six families borrow nearly £700 (£685) each year to help cover festive expenses, with credit cards typically used to spread the cost of repayments across six months for average income earners.

However, Christmas does end up considerably more expensive for some: those borrowing £685 each year with a poor credit score could pay £3,259 in interest on top of their original debt across their lifetimes, whereas an excellent score reduces the interest paid by 46% to £1,766.  This is because the best rates on credit cards are reserved by lenders for those that are seen as lower risk due to their higher credit scores.

Justin Basini, CEO and founder of ClearScore said, “Across our lifetimes we devote more than an entire year’s salary to the cost of Christmas. Inevitably, most of us use credit to help fund the festive period, so it’s important to keep your credit score high to avoid paying over the odds.

Recent figures from the Bank of England show that UK households are borrowing at the fastest rate since the summer of 2015, making it more important than ever to access credit at the cheapest possible rate. Outstanding consumer credit, which includes loans on credit cards as well as other advances and loans but not student loans, has surpassed £190 billion in October, a level last seen just before the financial crisis dried up credit markets in December 2008.

Kay Neufeld, an economist at Cebr, said, “The results of this analysis suggest that households should be aware of their credit score as well as their repayment plan for any outstanding loans. Household debt levels in the UK are rising quickly, fuelled by low interest rates and high consumer confidence. But the UK economy faces a challenging outlook for 2017 and past experiences have shown that economic shocks and rising unemployment can quickly lead to repayment issues or even defaults. If families decide to finance their Christmas spending through credit, they should make sure to get the lowest possible interest rate and pay off the loan as quickly as possible to keep interest payments low.”

Justin has six tips to improve your credit score –

By actively managing your credit score, you will boost your chances of reducing your Christmas debt:

  • Sign up to see your credit score – you can get can your free score and report at ClearScore and track your progress using the Timeline.
  • Check your report thoroughly, regularly and always before applying for credit – report and correct any mistakes you see as this could be damaging your score.
  • Make sure that your bank and any credit providers have your correct address.
  • Ensure you’re registered on the electoral roll – this is a very simple way of boosting your score.
  • Make sure that your name is on some utility accounts – the greater the evidence that you borrow and repay your credit regularly, the better your credit score will be.
  • Your score will increase if you use a smaller percentage of your available credit limit.

For more information and tips on how to improve your credit score, head over to ClearScore.com.
Do you check your credit score regularly?

 

Saving Money In My Everyday Life With Groupon

This is a sponsored post. All thoughts and opinions are my own.

The more savvy of us try to save money in everything we do. We all love to get that bargain at the supermarket or get a little discount on something we would have been ordering anyway, don’t we? I try to save money wherever I possibly can and one of the ways I do that is through Groupon Coupons. No matter what I am looking for, I can generally find a deal for that item.

I’m constantly sourcing the web for grocery coupons but I can even get coupons on the website for GoDaddy which is certainly helpful in my line of work. With two blogs and my freelance site to date, I do tend to spend quite a bit of money with GoDaddy as you can imagine so any money I can save on that is always going to be agreeable to me.

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As well as saving money on the everyday stuff, I also like to grab good deals when buying gifts for others. I’m always trading in points in the supermarkets to get a present for someone or taking advantage of their sales. Clothes are something I often give as gifts – especially to family as you know their tastes – and the Tommy Hilfiger coupons will certainly be coming in very handy at this time of year.

Do you ever use coupons and websites to save money in your day to day life? Do you use them to help you with your Christmas budget – I don’t think I’ve spent full price on a Christmas since I left home and I would like it to stay that way – it feels so much better to shop the deals and use the coupons and get much more for our money, doesn’t it?

How do you save money in your everyday life?

How To Reduce Your Credit Card Debts

Getting into debt can often be a downward spiral, and it is important to address the issues why you are in debt, if you ever want to get out of debt. There is plenty of valuable information available online, and it is worth your time looking at financial counselling tips for ideas. If you are struggling with credit card debt, then here is some information to help with your situation.

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  • Identify The Problem

One of the main reasons that people’s debts spiral out of control is through spending more than they earn. The first step in managing your debt is to write down a detailed list of every expense that you have, and compare this to how much you are earning every month. Doing this will allow you to work out where your money is going, what you can reduce, and also potentially what debts you can consolidate such as consolidating credit card debt.

  • The Need For Change

You will also need to make a change in your lifestyle to ensure that you can live within your means. You may need to downgrade your PPV subscription or cell phone package, and even reduce the amount of money you spend on entertainment. If you spend a lot of money on food, then you should look at shopping with coupons, as well as purchasing cheaper products, often shops own variety.

  • Get Advice From An Expert

Getting help from an expert is an excellent way to find the best company to talk to, so that you can consolidate your credit card debt. Not every company is the same, and a financial expert can steer you towards a company that will help to reduce your outgoings every month. Even after you speak to an expert, it is always worth your time and effort to shop around and talk to as many different debt consolidation companies as you can.

  • Read The Small Print

As with any contract that you enter, it is important to read the small print in any agreement that you will need to sign. Once you have signed the document, it is often a legally binding contract, so you need to know what you are signing and what the potential implications are on things, such as defaulted payments. Often, the terms of the contract use legal jargon which some people find confusing. So when you read the terms and conditions use a highlighter to highlight anything of which you are unsure. When you have read the document thoroughly, you can then speak to the company and have them explain the things that you are not sure with, and answer any questions that you may have.

Just remember you are not alone! Many people experience debt in their lives and sometimes it can feel very suffocating. Speak to people about your problem and let them show you that things might not be as bad as they seem. There is usually always a solution available for just about any situation, all you need to do is to look hard enough for it.

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