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Entrepreneurs are a rare breed. As a result, the British Government encourages their development, especially in these tough economic times. Besides offering services to help overcome the resultant challenges, financial measures have been introduced to assist new companies in the United Kingdom during the recession. The government provides training programmes to enhance business skills and supports innovation, research and development. (more…)

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Speaking to those who are in the retail forex market, one quickly gets the feeling that a large percentage of traders are losing money. Those ‘five per cent’ who aren’t are either breaking even or profiting. A novice may well realize that they’re entering risky territory. More experienced traders often throw in the towel, saying it’s a no-go zone. But with the right frame of mind, discipline and ongoing patience, one can make a success of forex trading. (more…)

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Steve Covey’s book 7 Habits of Highly Effective People has taught people how to live more satisfying lives. One of the core habits is that of taking responsibility for your own life by being proactive: you are always free to choose your response. The others include beginning with the end in mind, putting first things first, thinking win-win, communicating, synergising and sharpening the saw. Moneyning.com applies these habits to frugality in 7 Habits of Highly Frugal People. (more…)

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If you’re an entrepreneur or self-employed, you’ve probably had your fair share of having to deal with an unpredictable cash flow. This may include facing a low income over holiday periods, especially if you’re a freelancer. Managing cash flow begins with setting your minimum financial goals. What do you need every month to cover your expenses? Do you have a six-month emergency fund that you can draw on during the lean times? Do you have a savings plan? (more…)

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It’s essential that a woman’s financial standing is sound, whether single or married. Certain money matters should be considered, regardless — for example, a budget is imperative. This should include an admin system and regular updating of income and expenditure. Investment, protection, retirement, tax and estate planning are also fundamental considerations. (more…)

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If you’re tired of paying for short-term insurance because you think it’s a rip-off, you may be wondering if there is a better option. Self-insuring might save you a lot of money and you’ll be able to invest your savings and get a return. This investment could serve as an emergency fund, but is this a viable solution? Perhaps so, but then you’d have to assume that your car will never be stolen and your house will never burn down. (more…)

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Some risks are unique to an individual whereas others are applicable to everybody, like inflation and loss of income. When planning your budget, consider the risks that are most applicable to you and the extent of these risks. These risks may change over time with your circumstances, whether they are based on income or capital needs. Income needs exist over your lifetime and include disability, disease and unemployment. Capital needs are associated with death and include the cost of winding up your estate. (more…)

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There are many ways to approach home ownership. For example, you can buy a house in your name, in the name of a trust or you can co-own with your spouse or a partner. Once you’ve bought, there are advantages to paying off your bond as quickly as possible. Not only will you save on interest but having extra money in an access bond can serve as an emergency fund. Should you be living together or getting divorced, read on for some tips. (more…)

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Just because you’re an entrepreneur doesn’t mean you have the time, the know-how or the interest in doing the books for your business yourself. Hiring an accountant might be one of the best decisions you can make. That’s because it can free up an enormous amount of energy having somebody else set up your accounting system, see to your tax and check your books every month. If you’d prefer to set up your own system, read on for some tips. (more…)

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It was the well-known British economist, John Maynard Keynes, who observed that ‘speculative markets… are governed… by fear more than by forecast, by memories of last time and not by foreknowledge of next time.’ This remains true to this day as speculators tend to rely on past events as cues to buy or sell. Value investors have a different approach. They prefer to look keenly at individual stocks rather than attempting to gauge the market’s temperature. (more…)