by savespendinvest -

Your SALARY vs Your INCOME

Do you know the difference between your salary and your income?

I didn’t.
Some people equate how much they ‘earn’  i.e their salary,  to how much they get ‘paid’. I used to think that too when I started university. You get income from your salary when you get a job. So the plan was work hard to get a good job so you get a good salary and therefore a good income. Right? Hm, maybe. But as I got to my second year and I started making ‘income’ even though it was not my ‘salary’, I started to think a little different.
You see, your salary and income aren’t the same thing. Your salary can be your primary source of income, and indeed is a good chunk of a lot of people’s income. But it is not necessarily your only income. So many people have made it to the their financial goals without being on a ‘salary’. The idea is that they created multiple streams of income.
Your job holds the keys to your salary. They give you a figure and tell you that’s what you get paid for working for them. That’s fair enough – they’re in control. YOUR job, is to be in control of your income. Note the difference. Your income is not limited to your salary.
by savespendinvest -

3 Money Tips for Christmas Shopping

Ah Christmas, everyone’s favourite time of the year. Lots of family around, watching Home Alone and singing all our favourite Bublé songs.

We all love Christmas and look forward to spending time with family, friends and loved ones. But whilst it’s one of the highlights of the year to look forward to, for some, it can really put a dent in our pockets.

We don’t really think about it, it just ‘happens’, and let’s not talk about how January then tends to drag on. We need to be mindful of the fact that ’tis the season to be jolly, also means ’tis the season for money to leave your wallets. Some people call it a financial hangover, yikes!

There are so many Christmas jumpers I have bought and received over the years, most of which are somewhere, somewhere, deep into my closet. Or a suitcase. Or in storage. This year, I’m making a conscious effort to say No to the things that only make me feel good in the moment. Instead I’m saying Yes to things that will leave me happy come this time next year.

by savespendinvest -

How I went from being broke to saving £2000+ in a year

Here’s a story about going from being broke to big time woke.

Contrary to popular assumption, I’ve not always had it all together financially. I haven’t gotten into debt or done anything too crazy but towards the end of 2014/ early 2015, I was at an all time low financially. I had finished my first year of uni and decided that instead of looking for an internship over summer, I was going to create a job for myself ? #Winning #YouGoGirl #Solopreneur
FAME 2014 was one of the various projects I started in uni. A creative event that allowed creatives in the music and fashion industry to come together for the coolest mashup. Or at least that’s what my intention was.
by savespendinvest -

Investing 101: Mutual Funds

So you’ve read my post on Investing For Beginners and decided you’ll like to invest in Mutual Funds? Great, so what exactly are you investing in …

What is a Mutual Fund?

A mutual fund is a professionally managed fund that pools money together from you and other investors and uses that money to buy securities. A security is a financial instrument/asset with monetary value. Because of the diversification (mutual funds invest in stocks/equity, bonds), it’s less volatile (which means it doesn’t go up and down as much as i.e. stocks). So if a mutual fund has 100 stocks and one does bad, then you lose 1%, as opposed to a stock where if you bought that particular stock that did bad with all your money, then you’d have lost all your money.
by savespendinvest -

How To: Increase Your Earning Potential

Leveraging your skill set to maximise your earning potential doesn’t always mean starting your own business. In Gen Y&Z, everyone is either an entrepreneur, about to become one or is friends with at least one. I can already see you nodding your head to one of those three. But some of us get discouraged when we are in that first section “about to be/looking for ways to become an entrepreneur” and start our own thing and launch our brand. For those ones, I encourage you to remember that the fact is that not everyone can become an entrepreneur. More importantly, instead of trying a thousand start up ideas, look to be more entrepreneurial in your thinking and find ways to add value wherever you are. Entrepreneurship is fortunately or not, a one size fits all approach. If it comes to you, great, do your thing hunny. But if it doesn’t, don’t force it- focus more on using your skills to make you the MVP employee. There are more than one ways to make more money. 
Increasing your earning potential is (unfortunately) not as easy as just merely asking for a raise. You could increase your earning potential by doing the following three things:

 

by savespendinvest -

Investing For Beginners

Investing is committing money to something which will give you additional returns or profit.
Laying down money now to receive more in future – Warren Buffet.

 INVESTING 101:

Today we’re looking at some common investment vehicles available. Most of them you can start with any amount of money once you’ve done your research, others will require some high capital investments. This is only a guide and some research I’ve done personally, and I’m no financial expert so please speak to a financial advisor for a more tailored and detailed approach to apply to yourself.
Investing is working smarter, not necessarily harder.
by savespendinvest -

Stop Collecting Money and Start Doing This Instead

Yup that’s right, stop collecting and stashing money. I’m talking to all my savers who have been saving money for the last 3 years under their bed. Hunny, that money is depreciating not appreciating. Money is not made to be collected. It’s meant to be put to use, from spending to investing, money is supposed to be used to build the life you want.