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When you’re in business, the long-term goals are at the forefront of your mind. One of these goals rarely differs from person to person: make as much money as you can. Whilst this is a good start to have, there’s always the idea of debt lurking on the horizon. So on the other hand, we should also have a debt management plan in place if we’re either regular workers, or if we’re starting our own business. Below are a few tips on how to prepare for and cope with insolvency.




What To Do As An Entrepreneur


Having to face bankruptcy as a business owner is extremely hard. Often it can represent a massive decline in your goals, and can make you want to immediately give up. However, there are ways to face business insolvency, with the minimum including help blogs and debt centres designed specifically to be a guiding light.


If your company has more liabilities than assets then you risk becoming insolvent. Make sure you know how to read your balance sheet correctly. Always know what current assets you have that can be immediately turned into cash if it would help. This can mean putting on a sale if you have a boutique to help lessen the effects of insolvency.


It’s a good idea to reach out for professional advice. As mentioned, you never have to face debts alone, so don’t let yourself.


What To Do As An Employee


Employees are at just as much risk when a company becomes insolvent as a employer. It doesn’t have to mean the loss of your income straight away, but can affect family life. If your employer no longer has the means to pay you, remember that you have rights. You still have the right to be paid if your employer is trying to sell a business, meaning you can collect any pay once this is done if you’ve been kept on in the meantime.


Similarly, you can also experience a temporary layoff. This is a short term solution to handling a company’s insolvency as you won’t be scheduled for shifts in that time, but you’ll still be on the payroll. However, if you’re out of work for longer than a month, you then have the ability to claim redundancy pay.


Don’t let yourself feel singled out if you don’t receive the full amount of pay you are owed; this is quite a common occurrence. You’re likely to receive at least a month’s worth of pay, but you cannot claim anything over £500 in a single wage. This is an unlikely pay rate anyway, so gaining what’s owed to you is a fairer game than you might have first thought.


Debts don’t have to be the be-all end-all of your business or income. Just make sure you know how to handle them if you find yourself in the situation, and don’t lose sight of the future. We all want to protect what we’ve made, and plenty of options are available for this.





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Save Money, Uncategorized




We were talking to a great friend the other day about inheritance. His grandfather passed away and left him a sizeable chunk of money that he wasn’t expecting.


What became clear right off the bat, though, was how immensely bittersweet the topic of inheritance is, and how much respect it demands. Not only that, but it is also clear that this topic has one foot firmly placed within the realm of taboo.



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Not talking about it, though, can be dangerous. They were his words, not ours. You suddenly have this money, which kind of translates as freedom, this chance to better your situation and use it as a way to remember a loved one, but that needs real consideration. That’s when we began discussing how to best invest an inheritance package with, you know, real long-term growth.


This is not an uncommon thought, apparently. That’s something we found out when doing a little bit of research, speaking to beneficiaries, probate solicitors, tax experts, and accountants. As such, we have come up with a list of things to consider when looking to invest an unexpected inheritance package.


  1. Look At The Bigger Picture

One of the first things you need to do is look at your careful and decide how this cash fits into the picture. It could be that you have debts with high-interest rates or credit cards to pay off, in which case it makes sense to invest some of your inheritance in paying this off.


However, if it is a mortgage or a student loan that you are considering paying off then we suggest you stop. Why? Because these are debts with low-interest rates and tax deductions, and that means your inherited cash could be better used elsewhere.


  1. How Much Of A Cushion Do You Have

This is always worth going through with a comb of any size because it could play a biggish factor in how much you rip from the wad and put to one side. For example, if you don’t have a cash cushion of any kind at the moment, then we suggest you put a sizeable chunk of your inheritance in a savings account you can easily access.


This may sound a little too sensible, but sensible is good when you’re talking money. If you want some guidance on how much you need to tuck away, the unwritten rule is a minimum of three months worth of expenditure. This is essentially a ‘just in case things go belly up’ account.


  1. What Vehicle To Drive

It is pretty much always worth speaking to an accountant. Period. This is because choosing which investment vehicle is primed to suit you – and your very bespoke situation – can be a tricky thing to get your inexperienced head around. They will be able to tell you about how you can use your inheritance to bump up your 401(k) retirement plan and hit the maximum contribution.


They may suggest you set up a Roth IRA and go through the best way to do this. Perhaps they will suggest high-interest saving account with your children named as beneficiaries on the account to avoid this inheritance going into probate should anything happen to you. There are a lot of options, which is why calling in the professional is never a bad shout.



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You may have read the title and instantly thought that travelling in style whilst also on a budget simply can’t be done. You probably read it and thought something along the lines of ‘hogwash!’. You probably read it and thought it’s too ludicrous a notion to make sense.


But travelling in style doesn’t mean all private jets and caviar. It doesn’t have to mean first class flights or staying in a five-star hotel for the duration of your stay. It doesn’t have to mean shopping sprees and spa days. As well as this, travelling on a budget doesn’t have to mean bedding down in campsites or hostels. TravelLing on a budget doesn’t have to mean bag packing. These are preconceived notions of travelling that don’t necessarily have to be the truth. You can travel in style whilst on a budget, and here’s how.



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First of all, you should set up base in a place that will help you reach everywhere you want to reach with ease. By choosing accommodation that sits right in the middle of the area in which you are staying you instantly cut down on the need to pay for travel expenses. And the money you save on your travelling budget can then be spent on stylish accommodation.


For instance, if you were travelling to Shoreditch, London to experience all the galleries, markets and boutiques it has to offer then you should choose a hotel that sits close to all the places you wish to visit. For instance, by staying in a hotel like the Dorsett City, London you afford yourself the opportunity to reach a plethora of places on foot. You could reach the Whitechapel gallery in eight minutes on foot. You could also reach Blitz London within eight minutes on foot too.


By saving yourself from having to dip into your budget to cover travel expenses you afford yourself more of your budget to play with. And the more you afford yourself to play with, the more stylish your accommodation can be. And you don’t even have to stay in these stylish hotels for long. You can stay in them for one or two nights if that suits your budget better. You just have to be prepared to get all your travelling activities and sightseeing done in that short period!


And you don’t have to bring one pair of clothes to last you as you travel either. Retaining a stylish dress sense is a must for some people. And if these people want to budget travel they can rest assured that there are fashionable travel hacks that won’t cost them. One hack is to pack your case with accessories. Accessories are small. Accessories are light. Accessories don’t play havoc when it comes to packing and bag sizes. And the best thing of all? Accessories can change the look of any style. You could wear the same shirt and jeans two days running, but different accessories on both days will make you look different on both of them.


Make sure to check out these five tips that will help you save on your holiday costs if you want to travel stylishly on a budget this summer.




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Valentine's Day

George is at it again – bringing you some fantastic ways to have a great Valentine’s Day and getting a great deal too!



Diamonds are probably up there as a gift even if they may not be actually a girl’s BFF. They do tend to bring the contents of a wallet into sharp focus though and with the annual schmaltzfest that is Valentine’s day soon to be upon us again, just how do we show the one we love that they are special whilst at the same time being sensible with the cash.


Certain traditions have built up over the years. Commercial traditions that warm the tills of garages that still have overpriced bouquets outside the petrol pumps at 11.45pm on the 13th February.  Commercial traditions that mean anything that can be given a 400% mark up if you make it in the shape of a heart and preferably red. Commercial traditions that… I think you get the idea, but before you dismiss me completely as an unromantic curmudgeon with long pockets and short arms, I am here to admit that nothing can be further from the truth. I am in fact a total romantic. A total romantic who likes to get value for money when it comes to gifts.


Getting the best deal on anything requires knowledge and a bit of effort. Supermarkets especially make it ridiculously easy to impulse buy things that can probably be better bought elsewhere. So planning something special is essential.


Firstly, knowledge. No one knows your other half better than you do, and because of that you already have a good idea what things they like, no matter the subject, anything is just a google search away. You can choose what and how much you spend from the comfort of your armchair and with many companies offering free next day delivery or click and collect the amount of effort required isn’t even that great.


But what kind of thing could you look for? A good idea is to make it as personal as possible. Got a favourite photograph? Why not turn it into a framed print instead of leaving it on a hard drive or on the phone. Loads of photographic print companies have offers on all types of products from photo books that can chart your relationship over time to high quality framed prints. If you find something you like, take the name of the company and google it again – this time with the phrase “voucher code” after it. You’ll be surprised how often you will find a way of getting an extra 10% off!


How about music? It is so easy now to put together a playlist and give it on a memory stick (choose a stick that looks the part – not a freebie from a bank or insurance company!) If you really want to push the boat out then will even put your favourite track on vinyl for you, complete with your own artwork. Prefer live music? Not all gigs are expensive and sold out. Check out local listings, most areas have a vibrant local music scene, use facebook and local directories to see what’s on near you.


How about going away for a weekend? It is almost impossible to know where to start with this one there are so many opportunities to take great breaks at a fair price.  Groupon, Lastminute, MyVoucherCodes and Trivago are just a few of the sites you can look at for inspiration, with deals to suit every budget. My own daughter and her boyfriend got a great deal through Airbnb only a few weeks ago; one night away, a good meal for two and tickets to the theatre cost less than £150 including travel costs.


Prefer to stay at home? A romantic night in is a long standing staple of Valentines and how you choose to use it is entirely up to you. From cooking a special meal yourself and having your favourite bottle of wine to ordering your favourite takeaway (This year Valentines is on a Tuesday and Domino’s do a two for Tuesday deal. A coincidence – I think not!). All the major supermarkets do a “Dine in for two” deal nowadays, they’ll probably up the price for Valentine’s, but there’s no reason why you can’t draw inspiration from what they are offering even if you don’t buy the exact same thing.


There are so many options out there to make valentines special without overspending, it just needs a little thought and planning, After all, there is nothing at all romantic about a large credit card bill.


Happy Valentine’s Day!




Valentine's Day



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