a family of three walking fown a path with trees around them

The Importance of Family Income Benefit

*Collaborative Post

When you start a family your first natural instinct is to protect them and of course, the main way that comes to mind is to do so physically but there are other ways in which you can protect them especially if something happens to you. Being able to secure their future financially is imperative but with so many policy choices available what do you opt for? Life insurance is one choice but perhaps a family income benefit would be more suitable to you and your family?

Continue reading “The Importance of Family Income Benefit”
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It’s not a secret that kids don’t know anything about the value of money – that is until they learn it from you. If you don’t talk to them about money and make an effort to demonstrate how they should treat it, they will learn from you regardless. Badmouth money? Your kids will likely develop a negative relationship with it. Don’t spend money wisely? Your kids will see that money should be spent on impulse purchases and whims. If you want to make sure your kids grow up with a positive and sensible attitude towards money, read on.  Continue reading “A Guide To Teaching Your Kids The Value Of Money”

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5 Ways To Protect Your Family From A Possible Financial Crisis

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Okay, so life might be all sunshine and rainbows at the moment. But what happens if disaster strikes?

Your car might break down, one of your family might be involved in an accident, and particularly if you’re living in the UK, Brexit might negatively affect your finances. Should your family find itself in a financial crisis because of these or any other reasons, then life will become more of a struggle. How will you pay the bills? How will you put food on the table? And just how will your children cope when they can’t watch Ben and Holly if you have had to cancel your Netflix subscription? Okay, we jest on that last one, but you get our point. When your financial situation is put in jeopardy, your family will suffer in varying ways. Continue reading “5 Ways To Protect Your Family From A Possible Financial Crisis”

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Disputing a Will: Steps to Take

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A will is an official piece of documentation that showcases a deceased person’s final wishes with regards to their finances, assets, and estate. It is a vitally important piece of information, as it ensures that a person’s bequeathal instructions are carried out exactly how they wanted them to be. Continue reading “Disputing a Will: Steps to Take”

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3 Reasons You Shouldn’t Sell Your Home When You Move To A New One

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Every family ends up moving house at least once. Usually, you start off in a small place, then more kids come along, and you need to upsize to something bigger. Typically, you will sell your old home when you move into the new one. It seems natural seeing as you won’t live there anymore, so why bother keeping it?! Well, as it happens, there are a few reasons you might want to keep your home when you move…

 

Rent it out 

Of course, the most apparent reason to keep your home is to use it as a rental property. If you rent out your home to tenants, you will get a good source of income every month. Essentially, you’re a landlord and you collect rent from your tenants. It’s not an idea that everyone will enjoy, mainly due to the effort that goes into being a landlord. You’ll likely need a property management company to help you, and all of this can be a bit too much of a hassle. The main benefit of this idea is that you can get a regular source of income from the rental payments. Plus, if the management company handles things, you don’t really have to do much other than enjoy your money and carry out the odd property check. 

 

Turn it into an AirBnB

Another similar idea is to use your old home as an Airbnb. Now, this has a few advantages over traditional rental properties. For one, you deal with short-term tenants, which means fewer issues and less management. Secondly, you can demand payment for a stay in full up-front, so there will never be a problem with delayed rental payments. In essence, all you need is the best Airbnb management company around, and you’re good to go. They take care of the legal things and the management side of your property, while you enjoy life in your new home with a secondary source of income coming in. 

 

Wait until a better time to sell

Funnily enough, the best time to buy a house is probably the worst time to sell one. Good buying conditions mean that house prices are affordable and you’re getting a good deal when you purchase one. As a consequence, this means the selling conditions are pretty poor. House prices are low, meaning you won’t get as much money from the sale as you deserve. So, one reason to not sell your home when you move is so you can wait for a more profitable time. 

 

Perhaps you could rent your home or use it as an Airbnb in the meantime, then wait until the property market reaches a point where it’s good to sell. Alternatively, you could focus on making improvements to the property so you can increase the value and sell for more profit. Some home improvements can only be made when your family isn’t inside the property, which means they can only be done after you move. Either way, waiting for a better time to sell is a good reason to keep hold of your old home when you move. 

 

Moving is stressful enough without the added baggage of selling your home at the same time. If you’re debating whether or not to sell your property, then perhaps these three reasons have convinced you to keep hold of it for now. 

 

*This is a collaborative post. For further information please refer to my disclosure page.

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Money Manage Your Way To Becoming A Stay At Home Mom

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There are too many reasons to list why becoming a stay at home mom (or dad) is a great choice to make, but let’s take a shot at a few! 

  • It means you don’t miss your kids’ milestones, and your children get to spend valuable time with the person they love the most.
  • You don’t have to fork out for expenses on travelling to and from work, uniforms and lunches.
  • Also, it means you have some freedom and flexibility to organise your day how you see fit without a strict working regime.

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