Five Financial Apps That Give Children the Skills to Budget Better

Being young, our part in budgeting and money went only as far as watching our parents sort out bills on the kitchen table. That was the extent of our interest. So, eventually when we did grow up, we had to learn everything ourselves and sometimes not in a pretty way.

Parents of today have a duty of educating their kids on budgeting and finance early on. Luckily for them, technology is on their side. So, besides using life lessons, they have the assistance of some of the best and most effective budgeting apps available on apps stores. Here are some of them:

1.    Piggybot:

Piggybanks used to be one of the most effective sources of saving money. Nowadays, it has evolved and taken the name of PiggyBot. This app allows the children to have a control over their finances without the involvement of their parents or siblings. They can record their allowances, record the sources and determine suitable ways of spending them.

2.    Kids Money:

Financial planning is enough to give the best of us a run for our money. Kids of this generation are indeed blessed to have an app like Kids Money which allows them to set financial goals just by sliding their fingers on the screen. Once the kids know what they are planning to buy, the app allows them to plan monthly savings, contributions and every other small step needed to achieve their goals.

3.    The Mint:

What better way to teach kids about finance and budget than through some fun games? While playing these games, the kids will learn a good lesson about savings, earnings, spending and even lending. With this app, kids will easily learn about the money management and complex procedures at an early age. So, by the time they reach the age of 15 or 20, they’ll be handling their finances and student loans like a pro.

4.    Saving Spree:

This app works with the knowledge kids already have about finances. It begins the learning procedure by first testing the kids with a couple of finance related questions. With this app, kids can learn how saving small amounts of money at a moment can lead to a large amount in the end. With this app, kids will be able to learn how to spend their money wisely, how to achieve short-term financial goals with ease, how to give away money if they want and still end up with enough money at hand to spend at a moment’s notice.

5.    Motion Math:

Motion math is more about teaching kids about budgeting their business and managing it in such a way that it only grows from there on. The kids are only given limited pretend money with which they have to buy all the ingredients needed for the baking, yet have enough left to meet the requirements of their customers.

Some of these apps are free of cost, yet some of them could cost you some money. Regardless of this fact, the lessons learned from these apps will help your kids save a lot of money in the future, making investing in these apps worthwhile.

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Making Money On The Internet – Does It Really Work?

The evolution of the internet has opened a host of possibilities to individuals in being able to earn money at the click of a button. We hear about social media celebrities and icons all the time, who have amassed thousands of dollars worth of earnings. Others, in contrast, have a taken a more entrepreneurial route and have established a successful online business model that has accorded them millions of dollars.

Due to these realities, we are often told that we are a click away from realizing our own true financial independence and reaching a position to one day quit our day jobs. So how much of this is reality vs. myth? And does earning money from the internet really pay off?

Why making money online is not easy?

First and foremost, let’s acknowledge that making money online is in no way a guarantee of becoming financially successful. It is true that many have gone on to become internet sensations by making YouTube videos or the like, but the truth is that attracting an audience that is large enough to translate into a sizeable income takes a lot of hard work and effort.

You really need to stand out from the crowd and appear as unique as possible. To do this, you will not need to invest in the right tool to help you get your message and qualities across to as much people as possible.

Once you have understood the hard work and effort required, you need to ask yourself what qualities and talent you can use to earn money online. The following are some online money making methods you can choose.

Freelance writing

Freelance writing is perhaps one of the easiest methods of earning money online. You can expect to earn a good sum of money per a 500-word article or blog. The better you become as a writer, the more money you can demand from your clients. However, in order to achieve this, you will have to build a resume and a solid portfolio of your work to showcase it to potential clients.

You may either land your first big project right away or take many months to find a client that is willing to offer you big bucks. Nevertheless, freelance writing in the form of blogging or writing articles on websites can really help you earn money if you have it the necessary effort and time.

Sell your belongings

The big benefit of selling items online is the large number of customers you can target. If you have items that can be sold at a good enough price, make sure to get quality pictures and register with a PayPal account to make your online buying and selling experience as convenient as possible.

After a while, you may decide to start a proper online business and earn a lot more money, or you may work as an affiliate for websites that allow people to showcase and sell their stuff and earn more.

Affiliate marketing

You can also earn money by promoting products of others. For every promotion you do, you will get a commission of the transaction. To do this, you need to write web content and promote the product or service by linking it to its source website.

In short, there are plenty of ways through which you can make money online. However, it requires a lot of hard work and effort and is not as easy as many expect.

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Your Guide To Getting The Best Guarantor Loans In The UK

Different types of unsecured loans include peer-to-peer lending, wedding loans, emergency loans, payday loans, home improvement loans, and guarantor loans. All these loans share a common characteristic – high interest rate. In these loans, the borrower does not provide any collateral, which may be repossessed if the borrower fails to repay the loan amount. Among all loans, guarantor loans have been found to have lowest complaint and fraud ratio, whereas payday loans have the highest ratio of fraud and complaint.

This is why, the Financial Conduct Authority has introduced new stricter rules for payday loans. However, considering the flexible nature of guarantor loans, the Financial Conduct Authority provides technical assistance and consultation regarding guarantor subsidiaries and assets.

Are you considering taking out a guarantor loan? This guide may help you!

Understand the Concept of a Guarantor Loan and Credit Report

Guarantor loans are often confused due to their complex association with the credit reports of borrower and guarantor:

  • A guarantor loan does not affect the credit report of a guarantor, unless the borrower fails to repay the loan amount.
  • The lender considers the credit report of the borrower, and not of the guarantor to calculate the loan interest.
  • The loan does not show up on the credit report of guarantor. However, if the borrower fails to repay the loan amount, only then the loan will show up as defaulter on the credit report of borrower as well as of guarantor.

The Safety of Guarantor

Anyone, who is 21+ of age, can become your guarantor. Many times, the parents become the guarantors, which is legally acceptable. The guarantor loan does not provide any kind of safety to the guarantor, except that they may consult the Financial Conduct Authority for guidance regarding the guarantor assets and subsidiaries.

The lender may chase the guarantor if the borrower fails to make the repayments. The lender may also take the borrower and guarantor to the court in extremities.

How to get the Best Guarantor Loans

Considering the aforementioned information, following are the important tips to get best guarantor loans in UK:

  • Evaluate your financial condition and make sure that you can repay the loan amount.
  • Consider the reason of borrowing a guarantor loan. The guarantor loans should not be borrowed for entertainment, home renovation, vacation, and such kinds of other reasons.
  • Choose a trustworthy guarantor, who is willing to repay the loan amount if you fail to make the repayments.
  • Most often, the guarantor loans come with high interest rate. Research the market and select a lender with lowest interest rates. Keep your cool as the research process may take weeks.
  • Negotiate with the lender. Your credit report is the best tool to negotiate, especially if you have improved your credit score in last six months.

Make sure to understand the consequences if you fail to repay the loan amount. Some lenders have stricter policies for loan repayments. Discuss the policies before signing the contract, or a wrong decision may put your credit report, as well as your guarantor’s, at stake.


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Getting out and about

Anyone who has been traveling will know that the world outside of the US is absolutely crazy–crazy in a good way I hasten to add. Oh–by the way. Welcome and than you for reading. So, what do I mean? Well… I’ve have just got back from traveling around the world. It took me a year and  I loved every minute of it. I started in South America… cause that seemed like the logical place to go before flying over to Europe, into Africa, over to the Middle East, across to Asia, South East Asia, Australia, the Pacific Isles, and  finally home.

Phew! What an adventure right? I can safely say that Asia–more specifically India–was my favorite destination. I place is absolutely crazy–its and explosion of people, cultures, religions, foods, sites, scenery–it’s amazing. I took the train everywhere and you wouldn’t believe how far you can go with not a lot of money. Meals can even be cheap… if you’re willing to eat the local food. If you ever get a chance to go… make sure you visit Agra and see the Taj Mahal. I have never seen a building of such beauty in my life before. What I also didn’t realize was it’s scale–it’s absolutely huge! That’s not to mention the site that it’s built on, which is equally huge. Now… what’s funny about Agra–a Muslim town–is that… it’s nothing special by anyone’s measure. Actually… it’s probably one of the more grotty places I visited, which is in stark contrast to the Taj Mahal. Maybe this is what makes it stand out more… who knows.

Traveling by train: this is a must-do activity. Now… what I don’t mean is for you to travel in first class. This will shield you from the real India experience. Instead, get general tickets and mix with the locals. They’ll be really happy to see you and interested to learn about you. What’s more, the doors to the carriages are left open in general class, allowing you to sit on the door step and to watch the world go by. There’s nothing better than doing this, take it from me.

Eating: Be wary of street vendors and anyone, literally anyone, who sells dairy products (including ice cream vendors). I bought an ice cream in Mumbai from a street vendor–a double no no–and was so ill that I dare not describe what exactly happened to me… it wasn’t nice. What’s more… I was ill for several weeks… in fact, I’m still not 100 percent right almost six months on. I’m not trying to scare monger you… just have your wits about you when buying food stuffs from small-time vendors.

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