When is the best time to invest your money? 
young savers
by Lois
3y ago
This post is inspired by the teachings I have learned after working with Noah Laith for Crisis Investments Bootcamp (next course is in April 2019 in Barcelona!).  In the course Noah talks about ‘timing the market’ which essentially is when people try to predict when prices of stocks and ‘the market’ will go up and down.  They then invest when prices are low, and sell when it goes up to try and make money (aka a return on their investment).  But predicting the future is difficult to say the least.  So is there a way to know when stock prices will go up and down, all the time ..read more
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ISA Guidance [with Download]
young savers
by Lois
3y ago
It’s been a little while since I last posted some content and I’ve been getting so many questions from friends about investment ISA’s, how to open an account and what you should invest in. So I created a little cheat sheet for them and decided to share it with you all too! Just click here to download it.  [NB: this is my own personal strategy, make sure you also do your own research when opening your ISAs!] Comment below if you have any questions, or want to get more guidance!   ..read more
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Top 50 Millennial Money Blogs 2018: We’re featured!
young savers
by Lois
3y ago
Young Savers is featured as #29 Feedspot’s Top 50 Millennial Money Blogs 2018! We were crowned in 29th place on the list which you can find here: https://blog.feedspot.com/millennial_money_blogs/ .  Thank you to all the readers, motivators and young savers who continue to motivate me to write posts. For a relatively new blog with not so much content, to be placed #29 is HUGE. You’re all awesome! Comment below if you have any suggestions for upcoming blog posts!   ..read more
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How Applying the 80/20 Rule to Your Finances Can Change The Way You Save & Invest
young savers
by Lois
3y ago
If you’ve never heard of the 80/20 Rule, don’t worry. It’s not something we’re taught, but it can be a life-changing tool once you understand what it is and how to use it. The 80/20 Rule (or Pareto’s Principle) is essentially the thinking that 80% of results come from 20% of effort. For example, 80% of pleasure comes from 20% of activities and hobbies, or 20% of gym exercises provide 80% of the physical changes to your body. So how can applying this rule to money change the way you save and invest? Well, think of it this way: if you understand the 20% of things that you spend 80% of your money ..read more
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What Should I Invest In?
young savers
by Lois
3y ago
I did a Q&A on my Instagram yesterday and I got a lot of people asking me what they should start investing in. Whilst it’s fairly easy to open an investment account, choosing what to invest in is much harder. Even for me it took around 2 weeks of researching- like reading articles/news, looking into banks/brokers, picking industries- to choose what I wanted to invest in. And actually I’d been researching investments for the last 2 years before I actually opened my account. But this is mainly because there’s SO much choice out there!  So I thought I’d write a post summarising the diffe ..read more
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Assets vs Liabilities: What are they? (Plus 7 examples of assets you can own!)
young savers
by Lois
3y ago
One of my favourite books about personal finance is Rich Dad, Poor Dad by Robert Kiyosaki. I won’t spoil it for you, but if you want to understand more about money, how it works and how you should think about it, I’d 10000000% recommend you read it. [Full disclosure: if you make a purchase via the link above, I’ll receive a little bit of compensation from Amazon. It’s no extra cost to you and it helps keep this blog up and running!] Anyway, in this book Kiyosaki makes the distinction between an asset and a liability, and how the rich think about them vs how the poor and middle class think abou ..read more
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Should I Start Saving For Retirement When I’m 20?
young savers
by Lois
3y ago
Most young people in their teens and 20s don’t really think about retirement, and why should we? We’ve got a long way to go before then, so naturally it doesn’t really cross our minds.  The first time we probably think about saving for retirement is when we get a job and we’re asked if we want to enrol in the Workplace Pension Scheme. Essentially, a workplace pension scheme means every month your employer will take a certain amount from your salary and put it into an investment account (i.e. pension) for you. Some will also match the amount you put in.  For example, if you agree that ..read more
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How do Tax Codes work?
young savers
by Lois
3y ago
A tax code allows your employer to know how much tax should be deducted from your pay each year.  Your tax code can change based on your personal circumstances, so year-on-year it might not be the same. You can usually find your tax code somewhere on your pay slip. Before we get started, let’s do some jargon busters: Personal allowance – a certain amount of income that isn’t taxed. This is set by the government and changes every year. For 2017/18, the personal allowance is £11,500, so you won’t get taxed on any money earned up to this amount. Basic rate – this is the tax rate for earni ..read more
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How do Tax Rates work and how much should I be Taxed?
young savers
by Lois
3y ago
Figuring out how much you get taxed can get quite confusing, especially if your pay changes frequently. In this post, I’ve tried to make calculating your tax really simple and have even added in a section where you can do yours yourself. Before we get started, let’s go over a few basic concepts and language: Personal allowance – a certain amount of income that isn’t taxed. This is set by the government and changes every year. For 2017/18, the personal allowance is £11,500, so you won’t get taxed on any money earned up to this amount. Basic rate – this is the tax rate for earnings over the per ..read more
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How Do Credit Ratings Work?
young savers
by Lois
3y ago
A credit rating is essentially an evaluation of how ‘risky’ you are when it comes to money. It’s works via a scoring system- some things you do make your score go up, other things make your score go down. The higher your score, the more ‘reliable’ you’re seen as when it comes to your money. The lower your score, the less reliable you’re seen. Unfortunately for young people and students, our credit scores will be low anyway because of certain factors (see below to find out what they are). Before we get started, a bit of jargon buster for you: whenever I say “credit” or “credit line” I am talkin ..read more
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