Monthly Archives: September 2017

Tips to Help You Stretch Your Backpacking Dollar

Backpacking. When it comes to seeing the world, it definitely brings a multitude of experiences and adventures with you simply wouldn’t experience or encounter through other, more modern methods of exploring the globe.

 

If you would love nothing more than to see the world, but don’t think that your budget will allow you to see much more than your own state, below are some great tips to help you finance your backpacking adventure.

 

No More Uber

There is no denying the convenience of ordering an Uber in your home country, let alone doing it in a country where you don’t speak the language and so don’t have to speak with anyone. However, this convenience also comes at a cost. Literally, a monetary cost, and it’s often proportionally higher than those when getting on public transport.

 

When visiting a foreign country, resist the urge to wipe out your phone and order a ride-hailing service, and instead get on public transport. Whether it’s a train, two busses, or a train and a trolley, don’t be afraid to travel like a local. Not only will you gain a world of experiences, but it will also save you a significant portion of your travel allowances

 

Don’t Eat Your Money

Next, on the most expensive travel related items list, is food. Food is a tricky one because once you have tried bad foreign food, you’re hesitant to try again, leaving you with just the familiar options that you can see back home.

 

And while these may be comforting for your stomach and your brain, they are also expensive. Much more expensive. Instead, strike a balance between the two. For example, instead of eating street food, look for a vendor who has a small store where people are lined up outside. This is often the sign of a cheap place with tasty and high-quality food and ingredients.

 

Don’t Pay Retail for Flights and Accom

The worst thing that you can do is exhaust your travel budget before you have even had a chance to get on the plane! When you are booking all of your flights and connections, stick to sites like the Groupon Coupons page for Hotwire to find great discounts and bundle deals which you can take advantage of. Methods like this can save your serious cash on not only flights but also your accommodation.

 

Swap Tour Guides for Friends

If you are visiting a country which does not receive a lot of tourism then you can expect that everybody will want to speak with you and meet you. It’s also likely that some of them will speak a little bit of your language. With this in mind, split your exploring time and budget between organized tours and visiting areas with friendly locals who are more than willing and happy to introduce you to their culture and history

 

These tips are great ways to help you keep your travel costs down, so instead of sitting at your desk thinking about the world outside, take these tips into mind, get off the seat, and see the world!

Financial advisors and portfolio rebalancing software: what to look for

Any portfolio of assets needs careful management. Much like a car left undriven in the garage, an asset portfolio that is not reappraised and rebalanced at regular intervals is unlikely to perform as strongly as desirable. This financial recklessness can end up costing the portfolio holder dear.

Image Credit

Fortunately, financial advisors and their clients can benefit from well-designed financial advisor software that is eminently fit for purpose; however, finding the right financial advisor can be tricky. Recognising the problem, the Financial Conduct Authority has produced a helpful guide to assist consumers.

What is portfolio rebalancing software?

Portfolio rebalancing software replaces the laborious by-hand or excel spreadsheet methods of assisting a portfolio holder, or their financial advisor, with the periodic buying and selling of assets to ensure that the overall distribution of asset allocation accords, more or less, with the wishes of the portfolio holder. Sometimes the holder wishes to maintain the allocation they had when they set up the portfolio, such as 75 per cent shares and 25 per cent bonds; however, in certain circumstances, which may be to do with stock market performance or specific individual needs, the portfolio may need rebalancing to better express the changed situation. As a rule, it is far better to undertake rebalancing exercises in response to fluctuations in the market than it is to do so as a matter of course at the end of the financial year.

Image Credit

What to look for in portfolio rebalancing software

Financial advisors have woken up to the fact that portfolio rebalancing software is in demand by their clients; however, there are a variety of options on the market and determining the best one for a firm’s clients is not always easy. The most professional providers, such as https://www.intelliflo.com/financial-adviser-software, will always be happy to discuss the range of options to ensure the best fit.

When choosing the right software, much depends upon the client base. Entry-level software offers a more broad-brush approach, enabling balancing at a client or account level. More advanced solutions can do the same job in greater detail at household level. Each type should also contain functions that take into account a client’s tolerance for risk and allow effective tax planning. The most impressive portfolio rebalancing software is capable of rebalancing thousands of portfolios in minutes.

How to Build an Emergency Fund

Building an emergency fund is one of the most important aspects of financial success. Many people struggle to save up money for emergencies for a variety of reasons. With so many bills to pay, setting aside money every month is tough.

However, an emergency fund is a great way to protect yourself against financial disaster. When you have money in the bank for an emergency, it will greatly reduce your overall financial stress in life. Here are some tips on building an emergency fund no matter what your current financial situation is.

Increase Income

One of the best ways to build an emergency fund is to increase your income. There are plenty of ways to accomplish this goal. If you have the ability to take on more hours at work, this is a simple solution. Other people can work a second job on the nights or the weekends. Although this may sound difficult, it will only be for a short period of time.

When working an extra job and saving the money, you can easily save several hundred dollars per month. The average emergency fund should be several months of expenses. Once you get organized, you should be able to save this amount of money within a year.

Reduce Expenses

Another great way to save up for an emergency is to reduce your overall expenses. Many people spend money on things that do not add value in their life. If you are spending hundreds of dollars a month eating out at restaurants, it is time to start cooking at home.

There are many ways to spend less money each month. Make a list of all of your monthly expenses. You should decide whether each expense is adding value in your life. If you are spending hundreds of dollars on cable but never watch television, this is a great example of something to cut out.

Lending Options

There are times when the only financial option is getting a loan. The good news is that there are plenty of lending options today. Maxlend.com is an example of a website that you can use to get any loan product you need.

Before borrowing money, have a plan to pay the loan back on time. Some people get into financial trouble by trying to borrow their way out of an emergency. The best solution is to use the money you have set aside for emergencies. If you have no cash on hand, a flexible lending option is also a good solution.

Getting organized with your finances is possible if you are willing to put in the work. Start making a realistic budget today to start saving for emergencies.