Finance Archives - Serendipity Mommy

Smart Saving Tips for Teens

April 22, 2021 by Mandy

If you’re a teen in today’s world, there are a lot of things you might want to start saving up for. Whether you’re pooling your summer job money to buy a car or you simply want to create a cushion for those university years so you have some money saved up, there are plenty of reasons you might need to think about saving your money as a teen. And whether you’re working part time, making minimum wage or just doing odd jobs around the house to make some extra cash here and there, saving money and budgeting can make a difference.

No matter what your experience with saving is, you can get started with saving as a teen wherever you are. Even a little bit counts, from saving a percentage of your paycheck to looking for ways to save when you’re out and about. Even if you don’t have a lot to save, here are some smart saving tips you can use throughout your teenage years.

1. Make a Budget

Budgeting is a great skill for anyone to have, no matter your age. But if you start budgeting at an early age, you can adjust to the idea of budgeting before you have too high of stakes resting on your budgeting skills. You can see how it works for you and adjust as necessary without things like rent or bills, all while saving some money in the mean time.

2. Practice Saving Even a Little

You might be thinking, “I don’t make that much money, so how can I save?” and the answer is, a little bit at a time. Whether you’re an adult with a lot of bills or a teen with a part-time job, even saving just a little bit of your paycheck can add up over time.

3. Use Budgeting Apps

Of course, you probably don’t have a car payment and a rent payment and a pile of bills, but you might still want to keep track of small purchases like going to the movies with your friends or going out to lunch every once in a while, and budgeting apps can help you keep track of those things.

4. Start a Saving’s Account

If you do happen to have a bit of cushion when it comes to your money, starting a saving’s account is one of the best ways to ensure that your savings don’t go anywhere. Not only can starting a savings account help you learn financial literacy and saving skills, but it can also function like the “out of sight, out of mind” principle so you don’t touch your money for anything other than the saving purpose.

5. Set Goals for Yourself

Speaking of saving purposes, setting goals for yourself and your money is a great way to motivate yourself to save money. Whether your goals are long-term and involve saving up for college, or they’re smaller goals like buying concert tickets or a new phone, having something to look forward to is one of the best ways to keep your savings goals on track. It’s all about that motivation!

6. Get a Part-Time Job

When it comes to actually acquiring that money, getting a part-time job is one of the best ways to do that. While doing odd jobs and saving your allowance can give you some money here and there, a part-time job can give you a much more consistent stream of income, which can allow you to save a bit more consistently.

7. Learn to Make Snacks at Home

This one is a bit of a quick tip, but it can work for people of all ages, teens included. While plenty of teens love grabbing snacks on the go and going out to eat with friends, learning to make snacks at home and bringing things on the go can keep you from spending lots of extra money on eating out. Plus, this is a skill you can take with you far into the future.

8. Find Free Activities to Do With Friends

Another way to save money in general and keep yourself from spending money frivolously is to find some favorite free activities to do with your friends. That way, you can keep on top of your spending goals.

9. Ask About Student Discounts

Another great saving tip is to ask about student discounts when you go places. Many food establishments, local businesses and retail stores offer discounts to those who show their student ID. This can be a great way to save money you would have been spending anyway.

10. Set Up Automated Savings

If you do have a steady stream of income like a part-time job, using the automated bill-pay feature on your bank account can deposit money directly into your savings without you having to worry about doing it yourself. This way, you won’t be tempted to spend.

Saving Money as a Teen

Saving money can be difficult, but the more you think critically, use tips and set savings goals, the better your habits will be. Financial literacy is a growing skill, and you can get started at any time, no matter where you are in life.

Steps in Selling your Car

March 21, 2021 by Mandy

Selling a car is not easy. It’s not like selling inexpensive baked goods. Cars are much more expensive and require a lot more process to buy or sell. Each person has different reasons why they want to sell their car. It may be because they need the money or want to buy a new one or get rid of the car because it is very old and outdated already. However, as mentioned, selling a car is never easy. You’ll keep asking questions like “How and where can I easily and quickly sell my car?”

Here are eight steps as your guide for you to sell your car fast:

1. Decide how to sell your car.

There are certainly plenty of ways for you to sell your car. There are different choices, but of course, each option has its fair share of advantages and disadvantages. The three ways to sell your car are dealer trade-in, instant cash offer, and selling it yourself.

In dealer trade-in,you are selling your car to a dealership company. It is the easiest way to sell your car. However, you won’t get as much money as you expect because dealers take care of all the paperwork and recondition and advertise your car so that they won’t offer a lot, but you’ll eventually save some sales tax.
An instant cash offeris also convenient because you can sell your car online, over the phone, or through a dealership too. You only need to provide detailed information about your car, and the company is most likely going to offer you a price.
Lastly, selling the car yourselfmay be the most difficult way because you will do most of the work all by yourself. You have to prepare the car, complete the requirements, and find potential buyers yourself. However, among the three options, selling the car yourself can yield the highest price.

2. Get ready to sell your car

After deciding how to sell your car, make sure you prepare all the necessary documents and requirements. Also, provide other important things like your car history report.

3. Prepare your car

The next step is to prepare, clean, and polish your car. You want potential buyers to get attracted to your car, so make sure that it is worth the price you’re offering. Fix minor damages on the car to keep it presentable. You’ll most likely spend some money revamping your car, but consider the expenses and the amount you’ll get first if it is worth the investment.

4. Set a price

To ensure that you’re getting the right price, keep it high enough to make room for negotiation but not too high that you won’t attract any buyers. People want cheap cars, so if your car has other similar models in the market and your price is lower, then you’ll probably sell yours faster.

5. Advertise your car

A simple “for sale” sign on your car window can potentially attract buyers. Make sure that you also include important details like your contact details so they can contact you easily.

6. Let clients use the car first for a test-drive and allow for a pre-purchase inspection.

Your clients would want to know your car’s whole condition, so if they request a test drive and inspection, don’t hesitate to allow them.

7. Negotiate a fair and right price

When the buyer is finally satisfied and is ready to buy the car, they will most likely negotiate a lower price. As mentioned in the fourth step, make sure that you don’t set it too high or too low to make room for negotiation.

8. Complete the paperwork

When you and your client have finally agreed to a fixed price, complete the necessary documents, and you’re good to go.

Bonus and the best step: Get paid!

After knowing the basics of selling a car, you also now know the answer to your question, “How and where can I sell my car fast and easy?” Just follow the steps mentioned above, and you’re likely to sell your car the best way possible.

How Can Smart Home Improvements Raise Your Property’s Value

February 11, 2021 by Mandy

Smart home automation systems do increase your property’s value. According to a report, the smart home market worldwide is expected to reach $158 billion by 2024. These numbers indicate an increasing number of home buyers investing in intelligent home devices in their new homes, such as smart locks, smart smoke detectors, smart thermostats, smart garage door openers, and others.

Since more people demand smart functionality in their properties, you can increase your house’s asking price if equipped with some smart technological features. Here you will come to know how smart home improvements can raise your property’s value:

High Demand for Home Automation

If you add a smart home improvement system in your house, like a smart thermostat or smart smoke detector, you can attract property buyers in hordes and reduce the time spent by your house on property listings. People who want to buy smart homes span generations, including parents, grandparents, and kids.

Increased Convenience and Comfort

Smart home systems allow you to control different household functions with the touch of a button. For instance, if you have a smart garage door opener installed in your house, it connects with your home’s Wi-Fi system so that you can open your garage door for someone from your smartphone even while sitting at your office.

While sitting on your couch, you can open or close your curtains and blinds, change the temperature, and adjust the lights as per your taste.

Energy Saving

A smart home system allows you to save energy and reduce utility bills in the long run. Since a smart home is an energy-efficient home that leads to cost-saving, it quickly sells among potential buyers. Fortunately, most of the latest smart home systems are energy-efficient and minimize energy-use at the property. For instance, a smart thermostat creates a unique energy-saving schedule based on your temperature preferences.

Added Security

Smart home devices are highly effective in boosting your home security. One main priority of installing smart home improvements is to ensure the safety level of your house. Several security-oriented home improvement products are available in the market, including smart locks and smart smoke detectors.

Although smart devices may be pricey, they are worth the investment, as they not only enhance the security level of your house but also increase its value. You may control these devices through your smartphone. You also receive notifications whenever something unusual happens in or around your house.

Easy Property Sale

A property installed with smart home improvement systems is easy to sell in the future. As smart gadgets demand increases, more property buyers would realize the advantages of buying a home connected with smart devices. All in all, smart gadgets benefit both you and your potential home buyer.

Smart home improvement systems offer convenience and increase your property’s value and let the homeowners sleep with peace at night. So, if you are planning to sell out your house in the future, install smart devices in it and add a curb appeal to it. Don’t worry; you will get your money back by increasing your asking price and selling the property at a better price.

Choosing a Commercial Financial Service Provider

January 19, 2021 by Mandy

Taking charge of your finances is one of the biggest steps you can make towards achieving stability and independence. However, the task is much easier said than done as making any financial decision requires much time, consideration, and planning. No investment can be considered risk-free as there will always be a certain degree of risk attached to each one. Nonetheless, some can be more profitable than others depending on the circumstances.

Working with commercial finance providers can give you insight on how investments work and what types of investments you should take based on your needs and goals. Commercial finance refers to a range of products and services that can help you hit your financial targets or generate cash to get proper funding for your business. Whether you plan to take out a short-term loan or get funds from a venture capital, these decisions can vary on a case-to-case basis.

Check out the tips below to help you select a financial service provider, so you can ensure that you make the best investment decisions.

Understand Your Business

Before you do anything else, the first thing to do is to understand your business to know what exactly you need. Get to know the industry you are operating in to know about the type of financing you need and how much you will need. Another question to ask yourself is what you need the funds for in the first place. Do you need capital to set up a business, or do you need additional cash to help your company grow?

Ask About Investments

While working with commercial finance providers, you can get recommendations for your investments. Thus, it is important to ask questions about this while consulting with different providers. Communicate your objective or purpose, risk tolerance, and time horizon, so you can hear about how a provider can assist you. It will also help to ask about the costs related to purchasing, selling, or maintaining the investment, so you can assess which provider you can work with.

Finance providers will often have investment methodologies that they use to help clients make decisions. They are well-versed with market conditions that are crucial to determine the profitability of an investment, so their expertise and resources will be valuable for you and your business.

Shop Around for Loans

Commercial finance companies typically offer loans secured by assets for added security on their part. Similar to other financial institutions, the lending terms will vary for each company, so you can look at various companies to check out the loans they offer. This route is often recommended for businesses that are already highly leveraged and thus cannot get additional debt.

If you need to take out a loan for your business, you will need to check for things like the maximum available funding, loan duration, loan to value ratio, and others. As such, while choosing between different financial providers, it is important to ask about all the important points about their loans to ensure you know what you are getting into.

Commercial finance providers can offer valuable advice and recommendations on investments and financing for your business. Thus, choosing the right professionals to work with is crucial to ensure that you make the right decisions. Take your time getting to know the many providers, so you can find the best possible provider.

Four Things You Should Do When You Are Looking for a Gift for Your Loved Ones

January 18, 2021 by Mandy

Family and truly close friends are one of the greatest blessings that you can have in your lifetime. You acknowledge that they are very important people and want to impress them by offering the best gift. But more than impressing them, you want the gift to convey that you value and appreciate these people. Hence, coming up with gifts for your loved ones can either be very enjoyable or downright difficult.

We understand that it can be quite difficult to have the most thoughtful gift, especially since various people with different personalities would require a different gift-giving mindset. Your practical friend may prefer a birthday registry while your big sister may want a new houseplant. But do not fear! We have provided a few things that you should consider when thinking of the perfect gift for your loved ones.

You should know your receiver

Try to think about your receiver for a moment. Are you aware of their likes and dislikes? Do you know if they really want or need a certain item, but they are holding it off due to budget constraints? If you do, then great! You are already one step ahead towards giving the perfect gift. But if you still don’t know, you can still do something about it. You can ask your other friends or family if your recipient has anything that they need or if they dropped a hint on something that they really want. It all boils down to being attentive to the little details about your recipient.

It would be best if you created a plan

After you identify the perfect gift, you should start planning. Planning prevents you from bailing on a relatively expensive gift that would otherwise be very significant to your recipient. If you know that your sister needs a new laptop for school, you can search for an affordable student-friendly laptop or ask your family to lend a hand for a specific model that your sister wants.

It would help if you tried to make the gift more personal

You can make the gift more personal in various ways. For tangible gifts, such as clothing or books, you can attach a handwritten note or letter that contains a heartfelt message. For digital gifts, such as a computer game or a birthday registry, you can create a PowerPoint or an illustrated message. You can browse Pinterest for ideas or gimmicks that can make the gift-giving process more fun and memorable.

When in doubt, you can ask the person

If you are at a dead-end and you really do not know what your recipient wants, you can ask them directly. It might take the surprise away, but it shows that you care about them enough to want to know what gift they want to receive.

Conclusion

Gift-giving is one of the best things you can do if you want to do something that shows thoughtfulness and gratitude. It takes some thinking time and effort. It can also be quite challenging, especially to those who are generally lost when giving gifts. But at the end of the day, it is rewarding when you see your loved one smile and say their heartfelt thanks.