The Tories Have One. What Does It Mean For Your Money?

Now that the UK Conservative Party had taken over majority of the parliament’s seats, it’s time to think long term with a better outlook for your finances. So what does it actually mean for you?

According to Yahoo! Finance’s Felicity Hannah’s list, six things could change.

Taxes – will mean Tories would do good to raise personal allowance to £12,500 with an increased 40% tax threshold with £50,000. However, there’s no value-added tax.

Housing Market- first-time home buyers would mean Help-To-Buy ISAs. For every buyer’s deposit in the ISA, they get a £50 state-sponsored top-up for every £200 they save. This allows them to have a maximum payout of £3000.

Pensions- would include new retirement rules which allow 55 year olds and over access to their pension pots without any restrictions. While UK regulators have warned plenty of retirees to watch out for sharks, this should go ahead.

Benefits- Labour and the Liberal Democrats have promised to increase the benefits for UK employees. The Tories have a different plan in mind. They can lower the household benefit cap from £26,000 to £23,000.

Childcare- parents will now receive up to 30 hours of free term-time childcare a week for three to four-year-old kids. 

TheTelegraph.co.uk has another thing in mind. See it here.

Budgets Are Crucial, So Why Not Make Things Easier? You May Have Missed These Five Best Financial Software in the Market!

Today’s economy can be unforgiving if you’re financially irresponsible. With the stagnant and slightly-recovering Western economies, you’ll want to budget your money and know where it’s going. 

Here’s five of the best accounting software for your personal finance needs.

Conservatives Vs. Labour Party Over UK’s Surplus In Public Finances

According to UK Finance Minister George Osborne, the UK government finances showed a surplus of £8.8 billion in January based on ONS figures. The highest surplus, which is bigger than the forecast £6.5 billion for 2014, is something the Conservatives could be proud of.

Meanwhile, the Labour Party said that bonuses at the top distorted the figures. These bonuses were delayed from the previous year to take advantage of the top rate tax cut. 

How Does it Look Like Inside the World of UK Finance? [Infographic]

The Three Most Unique Ways To Find Business Funding

If you’re having some difficulty finding some funding for your business, you might not be minding the details more than you should. Funding exists in almost every place, not just with banks and venture capitalists. If you want to keep your business equity with you once your startup booms, here are three unique ways to find startup funding.

 

1.    Birthday Parties

During your birthday, you’ll be gathering some of the closest people in your life. These people are interested in knowing what you do for a living. From here, you could do your sales pitch. Make it compelling, and you could receive funding as a birthday gift.

2.    Utilitarianism

Utilitarianism focuses on using every resource you could find. You might have been an engineer during your heydays, but then your business loan applications just get rejected. A good example is to go through the consumer route; purchase a new property, and then sell it once you finish paying for it. Use the money to jump to other things, or you could use the properties to startup your own business.

3.    Ask People During the Most Casual of Engagements

You could ask business feedback from people during restaurant gatherings, birthday parties or coffee shop conversations. As long as they can relate to your products and services, they’ll gladly tell you what they think. You could also ask them to invest by explaining your business plan.

Three Things Anybody Should Have Accomplished Before Venturing Into a Startup

The Internet is one specific reason why many entrepreneurs are entering into different business ventures. Reduced, cost-effective internet marketing strategies work for many startups looking for engagement from their customers. However, a reduced cost in marketing isn’t just want you need for business. Here are a few other things you should have accomplished by the time you open your first branch.

1.    Personal Budget

A business must be capable of paying their employees, and that includes you. Your personal budget should be shaved down to the minimum amount you need to survive daily. It is important that you have paid your outstanding debts, keep tabs on your living bills, go commuting, and anything else. Basically everything that does not involve luxury and only the bare necessities of survival should be addressed by your pay.

2.    Marketing Plan

A reduced-price, cost-effective internet marketing or offline marketing means that everyone else is using the same platform because of its affordability. If you have no idea how you’re going to market your products and services you could be in big trouble with deadlines. Remember, the more you wait and spend time in planning, the more competitors will be ahead of you.

3.    Savings

Back to your personal budget, it is important that you could survive on this reduced budget for six months or longer. Take it to a ceiling number of one year. If your partner in life could support you with their day job, you could find this step easier to handle. However, you may be distracted by his/her regarding your own personal issues.