I built my credit limit from £200 to £3,000 and my credit score from absolutely nothing to ‘good’ within less than a year. Now, after having credit for less than two years my credit score is ‘excellent’. In this post I’m going to tell you what I did, and how you can do this too.
Whatever position we are in, there are ways we can speed up our own paths to financial independence. Save more, earn more, reduce fees and reducing taxes are all ways to accelerate your path to FIRE!
Saving for a deposit for your first property is hard. But it is possible.
Increasing your active income, utilising government schemes like the LISA. and managing your money well through a budget, will put you in the best possible position!
The rent a room relief scheme is a great way to earn some tax-free money by renting out a room in your house. Not only is up to £7,500 tax-free, but your lodger is paying down your mortgage for you.
The stock market is near all time highs. Property prices are high. Bonds don’t seem to be doing much. Gold has got more expensive. Bitcoin is still in its infancy. Is cash now king?
Using ISAs, we are able to maximise our wealth by allowing our money to grow tax-free. In this post we talk about how you can use LISAs and S&S ISAs to do this.
Settings goals is a must. The start of a new year (and a new decade!) is a great excuse to set some goals for the next 12 months.
Investing is one of the best things to do with your money. However, there are a lot of mistakes that investors make all the time. Thinking long-term, controlling your emotions and not investing based on what other people say are steps to become a better investor and not lose money in the stock market.
Recessions come and go, but it is important you are prepared for a recession, and can capitalise on the opportunity when stocks are cheaper. Holding cash, having an emergency fund, and paying debt, are three ways to not only prepare yourself, but benefit from a recession.