Tag Archives : Financial Tips


How To Build Wealth When You Have An Inconsistent and Fluctuating Income

If you’re an entrepreneur, freelancer, contractor or seasonal worker, the task of managing your finances may be tricky due to having an inconsistent income. Many self-employed or seasonal workers take great pride in themselves for having hacked a system that lets them get by without too much financial inconvenience in the months they earn less or don’t earn at all. However, very few actually make progress on their long-term financial goals. This article looks at the different ways people with inconsistent incomes can adapt to their situation and build wealth as a result. Don’t JUST Survive If you work for 5 months and earn £15,000, then don’t work for the […]


How Long Will It Take To Double My Money Through Investing In The Stock Market

One of the questions I get consistently asked is ‘how long it will take to double my money on the stock market or with any other investment?’ The answer depends on the rate of return. If you have a high rate of return, it will take a shorter period to double your money and if you have a lower rate of return it will take longer. Have a look at the below table to see how long it will take to double your money. As a reference, the historical average return of stocks is approx 7%-8% so you would double your money every 10 years via stock market investing. Besides […]


What Is The Financial Independence Retire Early (FIRE) Movement And How To Obtain It 2

Over the past few years, many of you who are interested in personal finance have come across the FIRE movement. This article will help explain what this movement is all about and how you could be one of the people that follow the movement. What is Financial Independence Early Retirement (FIRE)? Financial Independence and Early Retirement, or FIRE for short, refers to achieving a level of passive income that covers all your expenses and spending commitments allowing you to withdraw from the workforce and retire early. Most people who join the movement hate their jobs and thus aim to create a self-sustaining pile of money that let’s them do whatever […]


You Need To Become A Collector Of Cash Generating Assets

If the 1% had a secret it would be this – they focus on collecting assets that generate dividends, interest, rents and royalties. The collect cash generating assets such as patents, movie rights, property ownership, businesses, equities or farmland. On the other hand, the majority of people focus on collecting ‘stuff’. They always buy liabilities instead of assets and wonder why they never get ahead. It’s time to learn the rules of the game. Its time to learn how money works. What you read, watch and fantasise about the rich and what they actually do are two different things. Most people have this erroneous view that the rich splurge without […]


A Letter From Warren Buffets Grandfather – The Importance Of An Emergency Fund

In personal finance circles, one of the most important actions an individuals should take is to build an emergency fund. This is the money set aside for a rainy day. In is good practice to build an emergency fund before you even start to think about investing. Read the below letter from Ernest Buffet – Warren Buffets grandfather – to see how important an emergency fund is to your financial and psychological wellbeing. Dear Fred & Catherine:   Over a period of a good many years I have known a great many people who at some time or another have suffered in various ways simply because they did not have […]


The Wealthy Do Have A Secret – They Know How Money Works 3

Many Britons – everyday people working to build a comfortable life – assume the “rich” have a magic formula or some sort of secret. It seems they know something about “how the world works” that the rest of us don’t. If the average person could just figure it out, they’d be wealthy, too. They’d live with less stress, more time, and more money. And money, after all, gives you the freedom to do what you’d like to do. Money allows you to buy your freedom form the rat race. What I found out from reading hundreds of books, studying countless articles and listening to numerous podcasts is that the rich […]


Let Capitalism Set You Free – Move from Employee to Owner

There seems to be an ever increasing tide of bias against capitalism. People are increasingly becoming of the view that capitalism doesn’t work. But what they don’t realise is capitalism has allowed people on benefits today to have a better quality of life than the richest man on earth 100 years ago. Think about this for a second. When capitalism took over communism as the default world economic mechanism we saw an unprecedented amount of technological and productivity improvement. Without capitalism we probably wouldn’t have cars, planes, mobile phones, the internet, costa coffee or much else that we love. When people talk against capitalism, they don’t mention the benefits it […]


How Much To Save To Become Rich 2

We have all heard that paying yourself first is the best way to become wealthy in our society. Whilst we all know the merits about paying yourself first, many people do not now exactly how much money to set aside to pay themselves first. So is there a magic number? You hear people asking themselves this question all the time How much do I need to pay myself first? So here is my formula on how much you should pay yourself first. You don’y have to agree with it but just have a look at it. Whilst I know everybody is different and people have different circumstances, I am just […]


Nutmeg Performance Review – 2 year results 2

Almost two years ago to the day, I started my investing journey by opening up my first ever stocks and shares account with nutmeg. As a novice investor who knew nothing about the stock market, Nutmeg seemed to be the perfect choice. The platform creates professionally managed portfolios based on your risk profile all for the low cost of 0.95% of your assets under management. When I initially joined nutmeg, I was optimistic with expectations of receiving returns of about 7% per annum, the market average. Whilst the fee of 0.95% would certainly eat into my returns, I believed the professionals working at Nutmeg would be able to use Tactical […]


A simple and free way to increase your credit score 2

We all know how important a credit score is why it is vital to have a high score. I have written before on ways to increase your credit score (LINK). But if you want a quick and easy way to increase your credit score, read on. One of the key factors that influence your credit score is the level of debt / credit utilisation (about 30% of total equation). A credit utilisation ratio shows how much of the available credit you currently use – the capacity used. So if you have a credit line for £1000 and currently have £500 outstanding, your credit utilisation is 50%. When it comes to […]