February 23, 2012

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Make good use of your finances – get a diesel that matches a hybrid

January 30, 2012 By Kai Mistry

Honda’s Civic has to be one of the world’s most popular cars, and the ninth generation – the Honda Civic 2012 – has just gone on sale in the UK, which is great news for those businesses looking for something to splash their finances on.

It’s been eagerly anticipated by Civic fans as across the range the new car is more fuel-efficient than its predecessor. And in these times of crazy oil prices, the more value you can get from your car’s tank of fuel, the better.

There are three engines to choose from in the new UK Honda Civic range. The two petrol engines are 1.4 litre and 1.8 litre i-VTEC engines. They average 44-52 miles per gallon and have emissions around 129 g/km and 137g/km of CO2 respectively. The diesel is a 2.2 litre engine with 150bhp, and can achieve 64-67 mpg and emits just 110g/km of carbon dioxide.

The Honda civic 2012’s competitors include the 2 litre TDCi Ford Focus which emits 129g/km of carbon dioxide and has 161bhp, and the 2 litre TDI Golf Bluemotion Technology which emits 114g/km with 138bhp, so the diesel Civic leads the way on low emissions.

All the Honda Civic models have stop start technology to increase fuel efficiency and reduce inner city pollution, as the engine cuts out in queues and then starts again automatically when the driver releases the brake pedal. There is also the ECON button, which the driver can press at any time to instruct all car systems to function at the eco-friendly optimal level.

Though it’s not possible to get the Civic as a hybrid in the UK or Europe, the diesel’s high mileage and low emissions are putting it on a par with the Honda Insight, a hybrid which can achieve 64.2mpg and emits 101g/km of carbon dioxide.

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How to pay less tax when self-employed

January 20, 2012 By Kai Mistry

There are many benefits to being self-employed: being your own boss, deciding on your own work load, working in your pyjamas if you want to! There are unfortunately a few downsides too: no holiday or sick pay, dry periods when the work’s just not coming in and, of course, the dreaded tax returns.

Because the amount you earn from month to month probably varies, sorting out your tax can be a real pain, and it can often feel like you’re losing out big time. However, there are many ways in which you can pay less tax, so it is important to take your time and do it all right. If you can afford it, it could be worth employing the services of an accountant in order to help you.

If you work from home, you are able to claim for the cost of energy bills created by the extra light and heating you have to use, as well as other electric or gas (for example when cooking meals at home). You are also able to claim for things that you have to use in order to do your job effectively, such as laptops or whatever your particular tools of the trade may be.

There are also a few things you should check to make sure you’re not paying above the odds when it comes to your tax. Make sure you are on the correct tax code and investigate whether you are due any tax rebates. You can also take advantage of things like ISAs, in which you are able to invest a certain amount per year, tax free.

Save money in general by purchasing on credit if necessary. For example, you can find a whole range of beds on credit from http://bensonsforbeds.co.uk, allowing you to spread out the cost of large items that you simply can’t manage without.

Filed Under: Business Hints & Tips, Finance, Taxable Income Tagged With: , , , , ,

How concentrated should your portfolio be?

December 15, 2011 By Kai Mistry

If you’re steadily building up an investment portfolio and that includes a few stocks, have you ever asked yourself if there’s an ideal number to own?

A lot depends on your age and how dependent you are for the portfolio to put in a really good performance – and how risk averse you are.

Real estate developers like David Lichtenstein have highly concentrated portfolios – but these are shrewdly under their direct control in areas they have an extremely high knowledge of – and where the assets are just about as solid as you can get.

The theoretical standpoint is interesting; Wall Street trader and investing author Gerald Loeb said investors should put all their eggs in one basket, but also that they should watch that basket carefully. He said that big profits could only be made with a concentration of few investments that are closely watched.

Andrew Tobias on the other hand reckoned this was dangerous as the basket may have a hole in it!

Tobias’s advice is generally a “let the market do the work for you” / long-term type of approach. Meanwhile, Peter Lynch talks about both approaches in “One Up On Wall Street”, urging investors not to rely on a fixed number of stocks, but to investigate how good they are. But he does say that owning just one isn’t a good idea, saying: “In spite of your best efforts, the one you choose might be the victim of unforeseen circumstances…”

He goes on to advise us: “In small portfolios, I’d be comfortable owning between three and ten stocks.”

Overall, this looks like good advice to me. But it all depends how determined to make progress quickly you really are – and how prepared to lose everything you have in taking that risk. Good luck with whatever you choose – but for  me, the tortoise beats the hare in the long run anyway!

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Get started in currency trading

December 12, 2011 By Kai Mistry

Consistently successful currency trading isn’t easy – no matter what anyone tells you or whatever system they offer. If they had the winning formula do you really think they’d be writing books about it or organising tutorials all around the country? Of course not, they’d be trading for themselves and making millions doing it like George Soros or some other billionaire trader.

Having said all that, it is very possible to make bucket loads of cash by foreign currency dealing. But it’s also possible to lose it.

And you may be able to learn a lot from the experts. It’s just important to always bear in mind that there is no magic formula.

To be successful takes careful strategy, hard work, self-discipline and a little luck. Your success or failure tends to mirror your personality. Some real swashbucklers make or lose – or both – very spectacularly in this, the world’s single biggest trading market – whilst other steady players make equally steady progress by being a little more careful.

So it pays to always listen to the person you can trust more than anyone else to try not to make mistakes – namely, yourself. It’s also important to know your own weaknesses and to go in with an investing partner who will question your judgement calls.

The best way to get started is undoubtedly to trade 100% safely by opening a demo account only for a while – and then to try out different trading strategies and techniques until you’re completely au-fait with the terminology and the level of trading complexity you’re happy with.

In doing so, try your best to fool yourself into believing your demo account is actually real cash. There’s no substitute for real world experience, but if you practice long and hard enough, it may at least begin to feel like it.

Happy trading.

This article was written by David – a keen financial blogger. He often tries his hand at currency trading in his spare time and enjoys keeping up to date with the latest news.

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How To Save Money On Your Home Insurance Policy

October 21, 2011 By Kai Mistry

With Christmas rapidly approaching (yes, it may well be October, but don’t let that fool you; the majority of city centres in the UK have had their lights up for at least a fortnight now and the mince pie aisles are steadily being stocked up in the major supermarkets), now is the time to take a look at your personal finances and see where you can make savings in order to ensure the 25th of December doesn’t leave a gaping hole in your pocket for the first few months of 2012.

We all know about the importance of saving money on our electricity bills, turning down the heating when we can, and shopping around to find the cheapest deal, but not as many British consumers seem to be quite as aware of how to save some precious cash on their home insurance quotes.

Luckily, it isn’t as tricky as you may think to save a few pennies on your home insurance policy. Simply follow these straightforward tips and you’ll be on the road to financial freedom as the winter months progress before you know it.

Firstly, if you’re looking for both buildings and contents insurance, make sure you buy them as a joint policy from the same company. You’re likely to make significant savings this way.

Secondly, think outside the box in terms of saving money on your premium. Make your home as secure as possible; join a Neighbourhood Watch scheme, install a visible burglar alarm, consider fitting bars on your windows if you live on the ground floor of a flat in a slightly dodgy area, and fit fully approved locks. Fire risk can also be reduced significantly by fitting smoke alarms and testing the batteries regularly.

Thirdly, always shop around before making a purchase, but ensure you’re comparing like for like policies as this isn’t always immediately clear. Check what deals specific companies are offering as many will offer significant discounts for purchasing online or for buying buildings and home contents insurance together at the same time.

Lastly, remember that the fewer claims you make, the lower your future premium, so think twice before making a claim when you don’t absolutely have to.

Filed Under: Finance

Tips For Saving On Insurance

October 21, 2011 By Kai Mistry

When it comes to saving money on your home insurance policy, the obvious rules always apply: shop around before picking a policy, buy online instead of over the phone, ensure that you’re looking at like for like quotes, cut down on your risk of burglary and fire damage, and purchase both building and contents insurance together (if indeed you need both forms of cover).

However, there are some slightly less well-known tips that could save you bundles of cash.

Firstly, make sure you bear in mind that paying monthly for your policy, although no doubt appearing to be the most tempting option for many cash-strapped homeowners, can massively increase the overall annual price of your home insurance quote. Many home insurance companies charge extortionate levels of interest if you opt to pay monthly compared to the upfront cost of paying in full. If you simply can’t afford the one-off payment, consider paying for the policy using a 0% for purchases credit card.

Secondly, make sure you don’t over-value the cost of your valuables. The age-old advice has always been not to underestimate the worth of your contents and this still applies, but you should also take care not to confuse sentimental value with financial value. Walk around your home from room to room and work out an accurate, impartial figure for your contents. If there are certain items of real worth in your home, consider taking out insurance for valuables.

Thirdly, before shopping around for a new quote, ask your existing provider if they’ll offer a discount for a renewal on your policy. Most companies will be so desperate to hold on to your custom that they offer a tempting discount that might just knock a significant sum off the total price of your policy.

If you also make sure that you start the process of shopping around or considering renewal with the same company in good time before your existing quote expires, you’ll be perfectly placed to save a few pounds on your next insurance quote.

Filed Under: Finance

The Importance Of Knowing About Tax In Your Business

August 4, 2011 By admin

Taxable earnings is gross earnings manufactured by an individual or business that’s considered taxable by a state or country, or both in the USA. There are specific things, relying on revenue level and other country-mandated reductions, that are reduced from the quantity of revenue considered taxable. For instance, a certain quantity of contributions made towards a person’s 401k isn’t taxable revenue, and amounts took for social security payments in the States are customarily removed and considered not taxable either. The degree to which your revenue is taxable is dependent, in a progressive taxation policy, on certain acceptable reductions. If you make earnings below the misery level, it’s improbable that you can pay much in the way of taxes, if any in any way. [Read more...]

Filed Under: Finance, Taxable Income Tagged With: , ,