Money

There are many reasons why you may need a short-term loan to bridge a gap in your finances or property transactions. Here’s why bridging finance might be right for you.

Purchasing a property

Not all property purchases go as smoothly as you would like, and you could find yourself in a position where the buyer of your current property gets stuck in a chain, or you are still waiting for your own sale to complete.

In such situations, a bridging loan can be used as a form of short-term borrowing to enable you to buy your new property and avoid the sale falling through. You will then be able to repay the bridging finance once you receive the funds from the sale of your existing property.

Buying at a property auction

When buying a property at auction, you often need the finance quicker than you can get from a standard loan, which may take more than a month to complete. Using auction finance means you will be able to complete your auction purchase. You can then repay the bridging loan once your standard loan for the property is in place.

Paying an unexpected tax bill

On occasion, a business may face an unexpected tax bill, which could attract late payment charges if settled overdue. The business may choose to use a bridging loan to avoid these additional payments and settle the tax bill by its due deadline.

Buying land before planning permission is granted

If you intend to develop a site and need a long-term loan for the purchase, you may find that the mortgage requires planning permission to be in place before the loan can be approved. In this case, you may consider a short-term loan to bridge the gap in your finances if you are confident that planning permission will be granted so your land purchase can still go ahead.

When you need short-term capital

If a business or enterprise experiences a temporary drop in their cash flow due to the seasonal nature of their work, a bridging loan can bring in extra working capital. A business could also use a bridging loan to finance new stock or make essential equipment purchases.

Developing an uninhabitable property

Many mortgage lenders will not offer a mortgage on a property that is currently dilapidated or uninhabitable. But if you intend to develop the property, you could consider bridging finance to pay for the necessary construction work. Once the property is in a usable or liveable condition, you can then put a standard mortgage in place, which can also pay off the bridging loan.

If you have been refused credit elsewhere

A poor credit history can prevent a prospective borrower from qualifying for a standard loan. However, they may find that a bridging loan provider would consider a loan application. Although a form of security will be needed, such as a property or commercial assets to guarantee the loan.

Whatever the reason you may be considering bridging finance, it is advised that contact a bridging loan expert. Specialists such as Finbri can guide you through the application process as well as the costs involved so you can be sure a bridging loan is the right funding solution for you.

Are you looking into buying your first car? Then one of the questions that might have baffled you is if it is better to get a new one or a used one. But did you know that it might be better to get a secondhand car at first?

For one, you could be a student driver and are still polishing your driving skills. If that is the case, you may have some scratches and dents during this phase. Another is that you could be low on budget and a new car is not ideal with your current financial situation. Read the benefits of why a secondhand vehicle makes more sense than a brand-new model.

You can buy them from reputable providers

Used cars are sold by reputable dealers today. Getting a car from a dealer is better than buying a used car from someone you know. Reputable dealers check cars for potential issues before putting them up for sale. In comparison, a friend may not be as transparent, which is not uncommon whenever someone wants to get rid of something. If you are interested in used cars, you can check out youngautomotive.com.

No worries about value depreciation

Brand new cars are like your mobile gadgets. Their value depreciates quickly, especially if a new model is released. The moment you take that car for the first ride, its value decreases. Then, if you get one small teeny weeny scratch on the side, the vehicle’s value drops even further. Cars you buy today will lose 50% of their value after three years. In comparison, you do not need to worry about value depreciation for secondhand cars.

Many options to choose from

Have you noticed how car manufacturers are very aggressive at releasing newer models each year that passes by? As a result, many well-off people change cars when a new model comes. You have a range of options to explore.

Extra money to save in the bank

Buying a cheaper secondhand car will let you have extra money to save or invest. It also offers a better alternative to brand new models for their lower sales tax advantage.

You pay for cheaper car insurance

It’s always wise to invest in car insurance for added security against road accidents. However, if you buy a secondhand car, you will pay a lesser amount on car insurance than what you need to pay if you buy a brand-new vehicle.

Models today are more dependable

You do not need to worry about car issues if you buy a great model. Manufacturers are now more aggressive at making cars safer for everyone on the road. Even the newer players take this seriously and offer safety features to satisfy the skeptical buyers. You now see vehicles that have auto-parking or free-hand driving features. This is the age where you can buy feature-packed cars at a lesser price.

Verdict

Secondhand cars are an excellent option for budget shoppers who want to buy an everyday ride for a more affordable price. In addition, these can be safe as long as you buy them from trusted dealers.

Finance insiders like Dan Shatt and many others are saying that the lending industry’s future will be all about “people, not products” – here’s why.

1) The future of lending is digital, social, and mobile

Technology has permeated almost every facet of our lives – the same is true for personal finance. The 21st century has given rise to a new era where you can do everything on your phone or tablet – banking online, researching investments, applying for loans, etc.

Today the most successful financial institutions can offer their customers a seamless digital experience. However, banks and other lenders need to provide their customers with the tools to make smart choices about borrowing on the go to remain competitive in this new environment.

2) The future of lending is about relationships, not products

In the past, lenders have relied heavily on product offerings to attract borrowers. However, this is no longer a sustainable strategy in the age of digital and mobile banking. Nowadays, customers are looking for lenders that they can trust – ones that will take the time to get to know them and provide personalized advice to their unique needs.

3) The future of lending is about data, not just products or relationships

Banks used to rely on spreadsheets when it came to making credit decisions, but this approach is no longer effective in the current environment. Nowadays, lenders can access vast amounts of data – all of which can be used to make better-informed credit choices.

4) The future of lending will closely track the digital economy

Every year, more digital transactions are taking place – purchases made online, investments made with Robo advisors, etc. This shift toward a cashless society has opened up new possibilities for fintech companies that want alternative solutions for borrowing and investing.

5) The future of lending will revolve around the way we think about money

For too long, most lenders have thought of finance as a “zero-sum game” – where for one party to win, the other has to lose. In reality, this is an outdated and destructive mentality – especially in today’s digital world, where customers want more options and control over their finances. The best fintech companies understand that technology can find solutions that benefit both sides of the equation.

6) The future of lending lies with financial institutions working together rather than competing with each other

Over the past few years, fintech companies like Lending Club and Prosper have begun challenging traditional banks by offering alternative funding sources for consumers. However, the future of the lending industry will look very different. Instead of competing with each other, digital lenders will work together to build more comprehensive services that will give customers greater choice and flexibility when borrowing money.

7) The future of lending looks bright

According to a recent survey by Accenture, 82% of millennials plan to use some form of alternative finance in the next year. People want new options when it comes to their financial lives – they are looking for innovative solutions that make life easier, not harder. Luckily there are lots of industry experts who understand how technology can be used to build better products while improving customer service at the same time.

 

Association football is considered by many the “king of sports” – it certainly is the most widely played sport in the world, and the one with the biggest fan base of them all. Literally, billions of people around the world read the football news every single day, watch football matches on TV or on streaming – there are entire communities built around one association football team or another, sometimes in the remotest corners of the globe.

Obviously, association football is also the sport most people bet on or want to bet on. And at the same time, it is also the sport that most people bet on the wrong way. The tips below will show you how to do it right.

Don’t bet on your favourite team

Love is blind, they say – this applies not just to your significant other but to your favourite sport as well. The fans of one football team or another have a bit too much trust in their teams’ capabilities and they bet accordingly – with their heart instead of their head.

So, as a general rule, you should never bet on your favourite team. The heart sometimes overrides ration, making you place bets that are almost certainly destined to be unsuccessful. This will not only cost you money but it will also feel extremely disappointing – as if your team would’ve let you down.

Never bet more money than you can afford to lose

While in most cases, sports are reasonably predictable, there is always room for the unexpected – this means that even the surest bet comes with an inherent chance of being lost. This is why one of the most important rules of gambling – not just betting but any other form – is that you should always play only as much money as you can afford to lose.

This is the first rule of what those initiated in the secrets of gambling call bankroll management.

Another rule that naturally follows is never trying to win back the money you lost by betting again and again.

Focus on the biggest events

When choosing the matches to bet on, choose the ones that are the more important for the team you intend to bet on – because the players and the teams will do the same. When they face an opponent that’s much weaker – say when Liverpool, currently placed second in the Premier League, plays against Newcastle (second to last), it will not be as focused and prepared as in the case of a match against Manchester City – currently in the top position of the EPL. The more important the event, the more focused and prepared the players will be – and this will show in their effort, play style, and performance as well.

We all know the very high cost of vehicle ownership, it is the price you pay for the luxury of having your very own vehicle that is ready at any time. Despite this heavy cost, we are prepared to pay a high price for travel independence, yet there are a few ways we can cut our motoring costs, as we explain in this article.

Auto Insurance

There’s always a better deal somewhere and the best people to talk to about car insurance in Thailand has to be https://rabbitcare.com/, where you are guaranteed a great deal. Whether you are going for class 1,2 or 3, the online broker offers the best packages and the lowest premiums, plus they pay out without question and in a timely manner. Some insurers reward experienced drivers with a clean history and if you fall into this category, Google will help you source the best deal and a secure online payment sees you covered.
Second-Hand Tyres

We all know about the latest trend for fat wheels; many drivers take their new car straight to the tyre shop and change the shoes, leaving an almost new set of tyres. You can save up to 60% on the cost of four tyres and still have a couple of years of use. Check out your local tyre shop to see if they have a stock of used tyres and don’t worry, they wouldn’t sell a dodgy tyre! The tyres on your car are the only contact you have with the road and you should inspect them on a regular basis, checking the PSI (see owner’s manual).

Used Car Parts

While we don’t recommend this with a new vehicle, which is still under warranty, older cars are ideal for a reconditioned alternator, radiator or water pump, which are stripped from scrap vehicles at a breaker yard, then cleaned and reconditioned ready to be reused. It is easy to find out who stocks a 2016 BMW 3 series a/c unit, all the yards have websites that use easy search features. Locate by model or year and the component comes with a limited warranty. If you are an acrylic fan, click here.

Self-Service

If you have the tools and the inclination, you can save a significant amount by servicing your car; take a look at the garage’s hourly rate next time you book your car in for its service. If the owner’s manual isn’t enough, there are YouTube videos for just about every make and model; make sure you follow the manufacturer’s guidelines and only use genuine parts (used too). Cars need to be serviced according to the mileage and keep a note of your next oil change and try to carry out the maintenance close to the specified mileage.

If you live in the suburbs of Bangkok, you can save even more money by leaving the car at home and using the mass transportation systems and there’s no stress when you are a passenger.

 

Playing slot games is an ideal way to take a break from the everyday realities of your life and enjoy some relaxing fun. With so many games to choose from, slots are something that most people take for granted. They do not understand how far slot machines have come since their inception. Here is a look at the evolution of slot machines:

A trip back in time

Early slot machines boasted none of today’s cutting-edge technology, graphics, and audio of any real money online slots games you can find at virtual casinos. Indeed, these behemoths were unsophisticated, mechanical devices. The first one was invented by Bavarian-born Charles August Fey in 1894. He started manufacturing them fulltime in 1895. In 1899, he fabricated the Liberty Bell, a device historians regard as the first proper slot machine.

Other manufacturers began producing slot machines and they started popping up all over America, despite being illegal in most states. Their designers started using fruit and bar symbols as a disguise, claiming these machines dispensed candy and chewing gum as prizes. By the 1950s, slot machines were banned across America, except for Nevada. Even this limitation did not put a dampener on the slot machine’s evolution, leading to its most up-to-date version being featured in mobile casino apps.

A giant leap forward

The technological advances used to fight World Wars One and Two set the stage for an electromechanical slot machine in the 1950s. These devices offered a new payout option: the three-coin multiplier. Money Honey was one of the first electromechanical slot machines and paid out 500 coins when users hit its jackpot.

Despite restrictions on the distribution of slot machines in America, the industry was thriving as people descended on Las Vegas to play them. Several manufacturers succeeded by growing a business out of making and selling slot machines to Nevada’s casinos.

Video slots

When video slot machines emerged in the 1980s, people did not take to them immediately. Digitization in the 1970s led to video slots, which no longer featured pull arms. Most people found tapping buttons and seeing digital slots reeling dull and boring compared with older slot machines. However, they soon saw the benefits of these more modern machines when it emerged that they could pay out massive jackpots, unlike anything earlier models could muster.

As the 1980s progressed and Native American tribes began opening casinos, slot machines reached new heights of popularity. Indeed, they represented the largest portion of casino profits.

Online slots

Charles Fey could never have imagined today’s world, where slots are now a few taps or clicks away using a smartphone and internet connection. Despite these significant advances, the principle of slot games remains identical. There is no sure way to determine how to be lucky as they remain games of chance.

However, that seems to draw people to them in greater numbers since slot games went online. After all, there is nothing better than the rush of watching the reels spin and hoping to hit the jackpot.

 

The world of horse racing is filled with an array of different bet types. The names and the conditions of the bets available can be very confusing, and along with working out bet returns, the whole process can become somewhat complicated and headache inducing. Here we take some of the pressure and confusion from you by taking a look at flag bets and asking: what is a flag bet in horse racing?

A flag bet is a betting type that involves more than one selection. The bet works by making multiple bets on the same four selections. These selections are:

• Six up and down singles
• Six doubles
• Four trebles
• One hour fold accumulator

This gives a total of 32 bets.

In order to win, you need for at least one of the selections to be successful. However, in order to make the bet lucrative and profitable, you will need at least four correct picks within the bet. Unlike other bets, the selections made need to come from four different events.

Advantages of a flag bet

There is a lot to take in when it comes to flag bets, and this can make them very interesting and exciting for those watching the races. There is a lot to consider and even when some bets have been lost there is still a chance to win, so one loss does not mean the end of the fun and the end of the betting. This is good when you are attending a race meet like Royal Ascot or Glorious Goodwood as it means that you are able to enjoy the racing with friends even though all of the bets in your flag bet do not come in. Knowing that you can still see a profit, even after a loss keeps you happy and interested at the races. Given the number of bets involved and the odds often given, the flag bet is also a profitable betting type for those who use it well.

Disadvantages of a flag bet

The flag bet is not a betting type that is recommended if you are new to the sport of horse racing and to horse race betting as it requires quite a bit of knowledge, experience and understanding in order to be used well and with success. This is because of the number of selections that are involved in a flag bet and the number of races that they must be taken from. You need to understand the handicapping system, the race card and the form guides in detail if you are going to be able to place a successful flag bet. It is the type of bet that bettors work their way up to and should not be used by casual bettors who are simply looking for a bit of fun at the races.

Overall, the flag bet is a useful tool for the experienced and knowledgeable bettor but is best avoided by those who are new to horse race betting.

 

Welcome to Spending Notes, where we do a weekly deep dive into how our readers spend their cash.

Today: a writer who makes $30,000

Occupation: romance novelist

Age: 31

Location: Youngsville, NC

Salary: $30,000 (approx. $1,154 per pay period)

Day One

When I moved to Youngsville nearly a decade ago, no one warned me about just how crucial my air conditioner could be. No one said there might be a day where your HVAC system can no longer control the humidity in your Youngsville, NC, home. For me, it turns out that day is today. By the time I realize the issue, though, it’s too late to call a technician today. I make a note to look further into the problem tomorrow, opening the windows in a poor attempt to compensate for the number on the thermostat. Today isn’t a complete wash, though—I do a bit of online shopping for things around the house and get about 5,000 words written in my next novel.

Total: $56

Day Two

The humidity has definitely worsened, so I call an HVAC professional early to get some insight. As it turns out, they recommend that I opt for a new HVAC system entirely rather than trying to repair the existing HVAC. It’s all the same to me—technology isn’t my strong suit. Over the phone, they say something about compressors and ducts and refrigerants. Simply put, I’m glad the professionals are around to handle this for me. With the phone calls and humidity, today’s writing progress is limited to about 1,500 words. Still, some progress is better than none!

Total: $0

Day Three

While the new HVAC system and ductwork are being installed, I figure I might as well get away for a few days. Luckily for me, cabins in North Carolina are easy to come by whether you’re looking to buy or rent. So I rent a two-bedroom cabin for tomorrow through Sunday and set to packing. At the very least, I should have some time to work on my book uninterrupted, meeting my deadline despite my publisher’s frustration with my slow pace. If nothing else, at least the cabin has air conditioning that works! And, by the time I get home, my AC should be back in action.

Total: $435

Day Four

I pack my bags in the car, then grab groceries to last me through this DIY writing retreat. I’m no pro in the kitchen, but at least I can make sure I eat something good for me, more or less. Next, I stop by a gas station to fill up and get a coffee and snacks for the road. Then, I drive to the cabin. It takes some time to get settled and to make and eat something for dinner, so today’s a bit of a wash writing-wise. But that’s okay. Not every day will be an incredibly productive one, even if we’d want it to be.

Total: $51

Day Five

Set up in the cabin, I’m beyond thrilled that my reservation is through the weekend. This is such a lovely place to be and undoubtedly a good fuel for my writing. I set myself up at the desk—another bonus—and get to work. Before I know it, I’ve finished another chapter, and it’s time for a bite to eat. I check in with the contractor before they leave for the day and remember to pay my utility bill before it’s too late. As much as I’m enjoying my temporary living space, I’ve got to make sure my actual home is kept in good shape, too.

Total: $230

Day Six

Today is another productive writing day, with two and a half more chapters drafted and ready to be reviewed later. As it turns out, this cabin might be the best way for me to get the book done. I might have to seek out more long-term vacation rental options for the next one, too. If it wasn’t for the hassle I’m dealing with when it comes to my own home, I might even want to become a homeowner a second time. I also took a break to renew my subscription to the writing app I use for every one of my projects.

Total: $27

Day Seven

I wake up bummed that this will be my last day in the cabin, but I make the best of it with a writing sprint before packing up to leave. On my way, I stop by the gas station again to top off my tank, then I head home and unpack. Best of all, the heat and humidity are once again working correctly. So finally, with my luggage away, laundry running, and laptop plugged in, I’m set up for success when I sit back at the computer screen first thing tomorrow.

Total: $28

Total for the week: $827

 

If you want to break free and manage to cover a long-time wanted lifestyle, you must find a way to create a passive income. Besides financial freedom, passive income will serve as a cushion in emergency life situations such as health issues, car reparations, job loss, etc. Within the following lines, we will cover the best practices to create passive income sources in times of economic uncertainty.

Creating passive income starts with savings

The first step toward passive income is creating a financial nut. The saving we are relating to here is after-tax savings. If you don’t have a healthy amount of money, things will get very challenging and exhausting.

Know what you are good at

The more your interests and passions match the way you earn passive income, the higher chance you have to build something sustainable and consistent. Everyone excels in some particular skill, be it writing, sales, investing, and so forth. Find your niche and start monetizing it.

If investing is something appealing to you, you might consider a trading career. Now it’s a field available to ordinary people and not only to an initiated circle of financial experts. Just look at the booming interest in Forex trade in recent years. However, finding a reputable Forex broker should be one of your top priorities if you wish to try your hand in online trading.

Create a financial plan and consistently follow it

As we already mentioned, savings are important for the realization of your passive income plans. And to save enough money, one has to put in place an efficient financial plan.

If you already have a decent lifestyle and sufficient income to cover all your small pleasures, you might be prone to lifestyle inflation. Consequently, it reflects on your ability to put some money aside every month. Get rid of the need for a wealthy lifestyle appearance just to compete with the Joneses.

Furthermore, you need to allocate a specific amount for basic expenses every month, another amount for investments, and finally allocate sufficient funds for your project that will generate you a passive income.

At first, it will hurt the lifestyle you get used to. But eventually, when you start gaining momentum regarding your savings, you will stop perceiving the saving process as a significant sacrifice.

The importance of multiple passive income sources

When you begin to build your passive income scheme, you will rely on your regular income funds. Once you start to bear fruits, it’s time to develop your system and multiply the resources. It’s a multilevel game plan.

When you encounter setbacks on one side, you will have you hedged on the other side, thanks to various types of investments. It’s a crucial concept in investment not to put all the eggs in one basket. However, putting all the efforts into making all of your passive incomes sustainable money flow should be your ultimate goal.

Find out your optimum income level

Look back at all your career levels, from the minimum wage as a junior employee to the current professional and financial status, and spot how your happiness changes over the years. It will give you a clear picture of where the balance you need to aim to. Everyone has different needs and expectations, so are you. It’s up to you to find the right balance between needs, opportunities, and real abilities.

Stop biting from your financial nut every now and then

This is the fatal mistake many tend to make when creating the source of passive income. Somehow, there is always some emergency making us take off the funds allocated for investment, and it prevents you from properly benefitting from the compounding strategy.

An efficient passive income strategy is making sure your savings are wisely invested and not sitting on your accounts or, even worse, are vanished by the occasional unnecessary expenses.