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The Basics of Solar Energy: How Solar Energy Panels Work

Sam Allcock
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The Basics of Solar Energy: How Solar Energy Panels Work

Solar energy is a sustainable and non-polluting source of energy that has been used for centuries. However, it wasn’t until recently that the technology to harness solar power efficiently and affordably became available. Solar energy is one of the most abundant renewable resources on this planet. It’s found in the sunlight and heat from the sun, as well as from other sources such as geothermal, hydropower, wind, biomass, and even ocean waves. Solar energy can be converted into heat or light, or be used to generate electricity directly. There are several ways to use solar power, each with its own benefits and drawbacks. The three primary methods of utilizing solar energy are photovoltaic panels, concentrated solar power systems and thermal collectors. Let’s take a closer look at how solar panel technology works…

What are Photovoltaic Panels?

Photovoltaic panels, also known as solar panels, are the most cost-effective and widely used method of harnessing solar energy. These panels are made from semi-conductive materials that absorb sunlight and convert it into electricity. Panels are mounted on rooftops or installed on the ground, and wired together to form an “array.” The amount of energy generated depends on the amount of sunlight that hits the panels, their efficiency, size of the installation, and the climate. Solar energy is considered a renewable energy source because the sun will always be around, and the amount of energy it produces is constant. Today, there are a variety of solar panel models available such as crystalline silicon, thin film, and cadmium telluride.

Concentrated Solar Power

Concentrated solar power, or CSP, uses mirrors to focus sunlight on solar collectors. The heat from the collectors is used to generate steam to drive turbines that generate electricity. As with photovoltaic panels, the sun’s intensity and available surface area are critical factors in the amount of energy that can be produced. CSP plants are most efficient in areas where sunlight is abundant and temperatures are high. The technology is often used to generate electricity for large industrial operations, such as mining and water desalination. CSP is a relatively new type of solar power that has greater generating capacity than photovoltaic systems.

Thermal Collectors

Another type of solar energy is thermal collectors, which use the sun’s heat to drive a process that generates electricity. Thermal collectors are used in solar water heating systems, and in solar thermal power plants, also known as concentrated solar power (CSP) plants. Solar thermal energy is another method of harnessing solar power, separate from photovoltaic systems. But like photovoltaic systems, solar thermal collectors use sunlight to generate energy. Solar thermal collectors can be installed on rooftops or used at larger scales to generate electricity. Large-scale solar thermal plant operations, however, are rare in the U.S.

How Solar Panels Work

Solar panels have photovoltaic cells that collect the sun’s energy and transform it into electricity. Each photovoltaic cell is made up of two layers: an electron-rich layer that is positively charged, and a negatively charged electron-deficient layer. When light hits the top layer, it knocks loose electrons from the bottom layer. As the electrons move from one layer to the other, they create a current, which can then be used to power appliances, charge batteries, or connect to the electricity grid. The amount of energy a solar panel can produce depends on a number of factors, including: The amount of sunlight available in the area The number of hours of sunlight a day The efficiency of the solar panels The voltage of the system Solar power is a sustainable source of energy, but one that is dependent on sunlight. If there is no sunlight, the panels do not produce power even though they do not pollute or contribute to climate change. For more information see: https://www.dragonsbreathsolar.co.uk

Pros of Using Solar Energy

Sustainability – Solar energy is derived from a naturally occurring resource. It’s a renewable energy source so it doesn’t run out like fossil fuels do. There is also no risk of depletion like there is with natural resources like water and minerals.

No greenhouse gases – Like other forms of renewable energy like hydropower, geothermal and wind, solar power doesn’t produce any greenhouse gases.

No pollution – When solar panels are used indoors or in urban settings, they can produce energy without producing any pollution.

No fuel costs – Solar panels are powered by sunlight, not by a fuel. This means that you don’t have to worry about buying or storing fuel, or any associated costs.

Use of existing infrastructure – You can use the existing electrical wiring in your home to power your solar panel system.

Grid-tied systems – Unlike other alternative energy sources, you can connect your solar panels to the grid. This allows you to sell your excess energy to your local utility company.

No water use – Hydropower is one of the largest contributors to renewable energy sources, but it requires a lot of water. Solar panels don’t require any water, which is especially important in arid regions.

No land use – Unlike wind turbines, solar panels don’t require any land for installation.

No wildlife impact – Solar panels don’t kill birds and other wildlife like other energy sources do.

 

Cons of Using Solar Energy

Seasonal variability – Solar energy is dependent on the amount of sunlight available in a region at a given time. In general, the amount of sunlight is higher in the summer than in the winter. However, the amount of sunlight received in the winter is often enough to meet the energy needs of a household.

Sufficient sunlight – Solar panels need to be situated in a way that they can receive direct sunlight, at least six hours a day. If they don’t get enough sunlight, they can’t generate electricity.

Fewer hours of sunlight in winter – Because sunlight is lower in winter, it takes longer for solar panels to generate the same amount of energy as in summer.

Atmospheric conditions – Clouds can block the sun and reduce the amount of energy reaching solar panels.

Conclusion

Solar energy has been around for centuries, but only in the past few decades has technology advanced to the point where it can be utilized effectively. The three primary methods of utilizing solar power are photovoltaic panels, concentrated solar power systems and thermal collectors. Solar panels are the most cost-effective and widely used method of harnessing solar energy, while CSP uses mirrors to focus sunlight on collectors.

The best way to Organise a corporate event

Sam Allcock
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The best way to Organise a corporate event

Organising a corporate event is not as straightforward as it sounds. It needs careful planning, budgeting and the right people to make it successful. There are so many things you need to take into account before finalising on the details. You will need to find space for the event, invite guests, plan the agenda, choose vendors and much more. But don’t be disheartened! We’ve got you covered with our ultimate guide to organising a corporate event. No matter what type of event you are planning—be it a cocktail party or an industry-focused seminar—keep reading for insider tips on how to organise the perfect corporate event.

What type of event you are organising

The first thing you need to figure out is what type of event you are organising. Plus, it’s important to know your goals when planning an event. Will it be a networking event? Will it be a product launch? Once you know the type of event you are organising, you can begin to decide the details of your event such as the theme, location, guest list and much more.

In case you are unsure what type of event to hold, here are a few ideas to get you started: –

Networking event – If you want to encourage your employees to build strong relationships with business partners, then a networking event is just what you need. Networking events can be anything from cocktail parties to seminars.

Product launch – A product launch is an event that promotes a new product. People who attend this event can expect to hear a product overview, takeaways, advertisement insights and more.

Sales meetings – Sales meetings are great for companies that want to motivate their employees and build relationships with clients. They are usually held in hotels and cater to a large audience.

Seminars and conferences – If you want to discuss industry-specific topics, then hosting a seminar or a conference is a great idea.

Finding the right venue

The first thing you need to decide is the venue for your event. Selecting the right venue is one of the crucial aspects of planning an event. The venue you select will largely depend on the type of event and the number of people attending it. If you are hosting a large-scale event for hundreds of people, then you will need to find a large venue. However, if you’re hosting a smaller event, you can choose a smaller venue.

If you are hosting an indoor event, you can select from a wide variety of venues such as hotels, conference halls, convention centers, exhibition halls and much more. However, if you are hosting an outdoor event, you won’t have as many options.

Here are a few things to keep in mind when finding the right venue:

Budget – Event venues are priced differently depending on the type and location. Before you begin your search, make sure you have a budget in mind.

Guest list – The number of people on your guest list will determine the type of venue you need.

Type of event – There are certain types of events that are best suited for specific venues. For instance, if you are hosting a wedding, then you need to find a venue that is equipped to host weddings.

Nature of event – If your event is a conference or seminar, then you will need to find a venue that is equipped to host these types of events.

Nailing the guest list

Before you finalise the guest list, you will need to consider a few things. First, you will need to make sure that the venue you select can accommodate the number of guests you want to invite. You will also need to select the right people to invite. You can invite people from your team, business partners, clients, customers and more.

Depending on the type of event you are organising, you can invite different types of people. For example, if you are organising a sales meeting, you can invite clients, investors and more. If you are hosting an event to celebrate a company milestone, you can invite employees, managers and colleagues. Make sure you invite enough people to make the event worth attending.

Choose your caterer and food menu

Once you find the right caterer, you will need to discuss your food menu. The food menu you select for your event will largely depend on the type of event you are hosting and the number of guests attending it. Depending on your guest list, you can choose a buffet, plated meal or a cocktail party. You can select one type of food or a combination of food options for your event. However, you will need to keep in mind that some food items go well together and some don’t. You can choose from a wide range of food items for your event such as finger foods, salads, soups, entrees, desserts and more.

Select your entertainment

The entertainment for your event will largely depend on the type of event you are hosting and the mood you want to create. You can hire stand-up comedians, magicians, musicians and more. Depending on the type of event you are planning, you will have a wide range of entertainment options to choose from. If you are hosting a seminar, you can hire speakers to conduct the seminar. If you are hosting a product launch, you can hire a host to moderate the event. You can also hire sound and lighting engineers to create the right mood during your event.

Decide on your ad campaign and branding

Now that you have nailed the guest list, venue, food menu and entertainment, you may need to decide on an ad campaign and the branding of the event. Your ad campaign will be the medium that you use to invite guests to your event. You can create advertisements on social media, newspapers or magazines and much more. You should normally use your company’s colours in your event’s branding, as that way your guests will better recognise your event is associated with your company.

By now, you should know who’s coming and what’s on the menu.

You have done everything you can to make your event a success. You have selected the right venue, nailed the guest list, chosen the perfect caterer, selected your entertainment and decided on your event’s branding. Now, all you have to do is wait for the big day to arrive, or then again, you could just hand over all the hard to work to a corporate event planner like BrightVision Events?

How to Avoid Business Insolvency and Still Grow Your Business

Sam Allcock
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How to Avoid Business Insolvency and Still Grow Your Business

Keeping your business growing and expanding is a challenging process. You have to keep working on new strategies, invest time and money, hire more people or contract new suppliers. But sometimes things don’t go according to plan and things might get out of balance for your business. Outsourcing services or selling goods might be a challenge if you don’t have sufficient funds. Or maybe you have problems with cash flow and it seems like there is no way out. Any company can experience insolvency, the first stage happening when the organization finds itself unable to pay its bills and current liabilities in an appropriate timeframe. This article will give you some tips on how to avoid insolvency of your company and keep it growing at the same time.

Know your financial numbers

In the first place, you should know your financial numbers. You have to be aware of how much money you have in the company, your net profit, turnover, expenses and salaries. In short, you should know how the money is being used, where it comes from and where it goes. You have to understand if your expenses are reasonable or if you are spending too much. Once you have an idea of where your money goes, you can easily see if there is something wrong or if your business is struggling financially.

Hire a good accountant

If you have financial problems or if you are growing and don’t have a financial manager, you should hire a good accountant. A good accountant knows your business better than anyone else, and they can help you avoid the danger of insolvency. They can help you with financial statements, tax returns, business planning, cash flow forecasting, and more. Plus, they can give you objective advice and help you save money by suggesting ways to optimize your accounts.

Stay away from bad contracts

Contracts are very important in every business. They help you to make agreements with service providers, suppliers, and customers. They are also there to protect you from fraud and other things that can damage your business. Make sure you don’t sign any bad contracts, as a bad contract can lead to a big financial loss. So, check your contracts carefully. If you are not a lawyer and you don’t have the experience, you should ask for help. You should also check the contracts your employee’s sign.

Maintain a positive cash flow

If your business is struggling financially, a simple thing you can do to avoid insolvency is to maintain a positive cash flow. You should always make sure you have enough money in your accounts to cover any expenses. This way, you will avoid the risk of bounced cheques and late payments. If you know that some employees or suppliers need their money on a certain date, you will want to make sure you have enough money to pay them on time.

Don’t over-leverage your business

Another thing you should keep in mind is that you don’t over-leverage your business. If you use too much debt, it can become really hard for you to stay afloat. You don’t want to put too much pressure on yourself. Too much leverage can cause a negative impact on your cash flow. Remember, the risk of insolvency grows when you over-leverage yourself. If you are in a growing stage, you might need to borrow money to get the necessary funds to hire new employees, expand your office, or buy new machinery. But be careful when you take out debt. If you have too much debt, it can become a problem.

Conclusion

Finally, you should always be aware of the risks that can damage your company. You also have to be carefully watching for warning signs that something might be wrong. Once you notice a problem, you have to solve it quickly. This way, you will avoid insolvency and keep your company growing. For more information check out Antonybatty they are Experts in Company Administration as Licensed Insolvency Practitioners

9 Staff Gifts That Will Please Your Employees

Sam Allcock
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9 Staff Gifts That Will Please Your Employees

It’s important to give gifts to your employees because it shows that you acknowledge their hard work and dedication. This is one of the best ways to build staff morale and foster a sense of camaraderie among employees. Furthermore, gifting staff members can improve retention rates by making them feel valued and appreciated. If you are planning to give away staff gifts to your employees, here are a few options that you can keep in mind:

1. Gadget charging station

A gadget charging station demonstrates that you value your employees’ time and want to make their lives as convenient as possible. It shows that you are keeping up with the latest trends and technologies. Moreover, it is a practical gift that will be used on a daily basis. By giving your employees a gadget charging station, you are sending the message that you value their work and want to support them at every stage in their work-life.

2. Windproof umbrella

If you are looking for a cost-effective gift for your employees, you can go for a windproof umbrella. A windproof umbrella is a practical item that can be used on a daily basis. Although this may seem like an inexpensive gift, it will be appreciated by the recipient, especially if the climate throughout the year is unpredictable and can rain at any moment. It also indicates that you are thinking about your employees’ safety and well-being. This is a small but important gesture that can go a long way in building employee morale and loyalty.

3. Personal desk fan

Gifting a personal desk fan to your employees ensures that they can sit at their cubicle or desk comfortably during the summer season. In fact, the fan can not only help to combat the heat in the summer but also circulate warm air in the winter. Moreover, it is a relatively inexpensive gift that shows you are thinking about your staff member’s comfort. Most importantly, it is a gift that can be used at work, meaning your staff member will be reminded of your thoughtfulness every time they use it.

4. Champagne gummy bears

Champagne gummy bears are a delicious and fun treat that make a great gift for staff members. Not only are they a unique and clever way to show appreciation, but they are also a tasty way to show some love. Who doesn’t love a good gummy bear? And what better way to say “thank you” than with a sweet snack? Sometimes, there isn’t time at the office to celebrate the success of a project with champagne and dinner. In such cases, you can give away restaurant coupons along with these champagne gummy bears to make things work.

5. Customised coffee mug

Custom coffee mugs may seem like a cliched gift but it still works because they are inexpensive and you can gift one to all of your employees without breaking the bank. If you think more about it, this is another practical gift because many employees like to have their own coffee mugs instead of using the ones that are already there in the office. By personalizing the mug with each employee’s name or initials, you can create a gift that is both unique and meaningful. This gift is also easy to find and you won’t have to spend hours surfing the internet to find the right present for your employees.

6. Stainless steel water bottle

Stainless steel water bottles are highly durable and will last for many years with proper care. This means that your employees will be able to enjoy their water bottles for a long time, and they will think of your company every time they use them. Additionally, stainless steel water bottles are eco-friendly and reusable, which is important to many people these days. They are also relatively inexpensive, so you can purchase a large number of them without spending a fortune. It’s also helpful to keep water cold for hours. This can come in handy, especially during the summer season when employees often have to run to the water cooler many times throughout the day.

7. Scented candles

Scented candles can create a pleasant and relaxing environment at home. And when employees can relax at home, they would come back to the office refreshed and recharged. They are also quite cost-effective and you can get good deals if you buy them in bulk. When choosing a scented candle as a staff gift, be sure to consider the individual preferences of each recipient. Some people prefer floral scents, while others prefer more earthy or spicy smells. By taking the time to select the perfect candle, you can show your staff that you value them.

8. Movie theater gift card

Sometimes the workplace can get too monotonous, especially if the employees have not taken leave for many days. To acknowledge their tireless efforts, you can give them movie theater gift cards so that they can treat themselves and their families to a fun night out. Movie theater gift cards can also be used to purchase concessions, making them a convenient way for employees to thank their colleagues for their hard work. In most cases, movie theater gift cards have no expiration date, so they can be used at any time. This makes them a flexible and versatile gift that is sure to be appreciated by employees.

Another versatile idea to consider is a Visa gift card, which allows employees to choose their own perfect reward online or in-store. With the flexibility to use it at countless retailers, a Visa gift card makes for a thoughtful and universally appreciated staff present—whether shopping for everyday essentials or treating themselves to something special.

9. Succulents

Succulents are a type of plant that stores water in their leaves, stems, or roots. This trait enables them to survive in arid or desert conditions. They are popular urban gardening houseplants because they are low-maintenance and can tolerate periods of neglect. They come in a wide variety of shapes and sizes, making it easy to find one that will fit in any space. Succulents are also relatively inexpensive, which makes them an ideal gift for co-workers or staff members.

Show your appreciation to your office staff with a thoughtful gift this holiday season. Whether you choose something small and simple or go all out with a luxurious gift, they are most likely to appreciate the thought you put into it.

The Best Ways to Save Money on Car Insurance

Sam Allcock
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The Best Ways to Save Money on Car Insurance

Three main factors determine the price of your car insurance. The first is the type of vehicle you drive and how well you maintain it. The second is how you drive and park it. The third is how an insurance company perceives you as a customer. The second and third points generally overlap to some extent.

This means that the key to getting the best deals on car insurance is to do as much as you can to score highly on all three points. Both individuals and fleets can use much the same strategy here. There may, however, be a few differences in how they go about implementing it.

Your vehicle

The three main risks to vehicles themselves are accidents, thefts, and damage. In most cases, they are likely to be in that order. In theory, the type of car you drive should not influence your chances of being involved in an accident. In practice, the type of car you choose can influence how an insurer perceives your approach to driving.

To be fair, these are largely understandable and probably fair overall. People choose their cars for a reason. This means that somebody who buys a powerful sports car is probably going to have very different priorities from somebody who buys a family run-around.

Obviously, in the case of fleets, there’s a bit of nuance. For example, a chauffeur service may have high-powered vehicles that are driven very safely. Insurers will apply common sense here. Just keep in mind, however, that even with fleet vehicles, your choice of vehicle is likely to influence how you are perceived as a driver and customer.

Insurers typically prefer unassuming, workhorse vehicles with relatively low power and few to no modifications. They also tend to prefer more modern vehicles. These benefit from the most modern safety features.

Maintaining your vehicle

Insurers can’t directly judge how well you maintain your vehicle. They only know whether or not it needs to be MOT’d. If so, they know whether or not it passes. They can, however, indirectly judge how well you take care of your vehicle through your claim’s history.

As insurers well know, the better maintained a vehicle is, the less likely it is to cause an accident through mechanical malfunction. Similarly, it is also less likely to experience out-of-warranty damage. Keeping your vehicle well-maintained can, therefore, reduce the cost of your car insurance, albeit over time.

Driving and parking your vehicle

When you are driving, the main risk to insurers is you getting in an accident. When you are parked, the main risks are accidents and theft. The main factors that influence these are your mileage, your driving skills and history and your parking location(s).

Your mileage

Both your driving risks and your parking risks increase with your mileage. This means that reducing your mileage can significantly reduce your car insurance. Obviously, the usefulness of this knowledge will depend greatly on your situation. For example, some fleet managers will already have pared their fleet’s mileage down to the absolute minimum.

Other people, however, may have scope to reduce their mileage if they take a close look at their driving habits. This may even include some fleets. It’s certainly worth assessing, particularly since it can save you a lot of money in other areas too (e.g., fuel/electricity).

Your driving skills and history

As a rule of thumb, the less experience you have, the more weight qualifications have. This means it can be well worth taking the Pass Plus course as soon as you can after you pass your main driving test.

More experienced drivers may find it helpful to take periodic refresher courses or at least lessons. This can help to ensure that you’re still driving the way you should. Quite bluntly, you don’t want to find out you’ve developed bad habits by getting into an accident.

In fleets, some drivers will require periodic retraining (e.g., HGV drivers). It is, however, still advisable to monitor their performance between retraining sessions. For other drivers, it’s advisable to assess their driving skills regularly and organise retraining as/when/if necessary.

If some drivers are more at risk than others, then it could be advisable to ring-fence them on a separate policy. That way, their specific issues will only affect the premiums you pay for those specific drivers.

The importance of defensive driving

On a public road, you can only control your own vehicle. It would be nice to think that other people would all behave responsibly. In reality, however, you cannot guarantee that. This means that you have to practice defensive driving. This is how you build up your no-claims bonus. It’s also how you save on both fuel and wear-and-tear.

In short, you always need to be focused on the road. You need to predict and prepare for both transitions (e.g., stop lights and turns) and hazards. You also need to be alert enough to respond quickly to hazards that come out of nowhere (e.g., drivers pulling out suddenly).

To do this, you’ll need to ensure that your car is set up correctly for you e.g., the seat is at the correct angle. It also helps to think about comfort. Avoiding discomfort can make it easier for you to focus on the road. Try adding a cover to your steering wheel and putting a custom car mat down to cushion your feet.

Leveraging technology

Insurers don’t like modifications, but they love any technology that makes driving and parking safer. This includes driver aids, car-trackers, alarms and immobilisers and monitoring equipment. Full-scale on-board CCTV may be for fleets only but regular dashcams can be very helpful to private drivers.

Your parking locations

Learn the basics of safe parking and follow them at all times. Select your location with care, keep valuables out of sight and use security aids as much as possible. Even a basic steering-wheel lock can help to deter criminals.

Making yourself an attractive customer

Resist any temptation to embellish your insurance application form, e.g., by getting creative with your job title. Resist naming someone as an additional driver if they are a regular driver. It can, however, be helpful to list an experienced driver as an additional driver on a policy, especially if the main driver is a young adult.

By contrast, make a point of informing your insurer promptly about any changes in circumstances that may influence your premiums (either way). Likewise, make sure you always fully comply with both your policy requirements and the law. Report all accidents no matter how minor they seem.

Be prepared to shop around thoroughly for the best deal. To do this, you’ll need to think carefully about your requirements. For example, do you really only need third-party insurance or would fully comprehensive give you a better deal?  Would you be happy with a “black-box” policy where your insurer tracks your driving habits?

Could you accept a higher excess and/or pay your premiums annually? Either of these options could significantly lower the cost of your car insurance.

Author Bio

Tracy Hill is the Marketing Manager for Car Mats UK, a leading car accessories manufacturer based in Mansfield, Nottinghamshire. All of their products are made in Britain by their amazing team of skilled workers.

What is Pip in Trading and How Can It Help You?

Sam Allcock
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What is Pip in Trading and How Can It Help You?

If you’re new to the world of trading, you may have heard the term ‘pip’ thrown around a lot. But what is a pip, exactly? And more importantly, how can it help you become a successful trader? In this blog post, we will answer these questions and more. We’ll discuss what pips are, how they are calculated, and why they are important in trading. Plus, we’ll give you some tips on how to use pips to your advantage!

What Is a Pip?

In the world of foreign exchange, a pip is the smallest unit of price movement that a given exchange rate makes. For most major currencies, a pip is equal to 1/100th of 1%. In other words, if a currency is quoted at 1.2500, then one pip would be equal to 0.01 (1/100th of 1%).

Many brokerages and trading platforms use fractional pips to quote prices, so you may see a quote for EUR/USD of 1.2501 instead of 1.2500. In this case, the 0.0001 would be referred to as one “pipette” or “fractional pip”. While the value of a pip may seem small, in the world of forex trading, they can add up quickly. For example, if you were to buy EUR/USD at 1.2500 and it rose to 1.2550, that 50-pip move would result in a profit or loss of $500 (assuming you traded 10,000 units). A move from 1.2500 to 1.2501 would be just one pipette and would only result in either a gain or loss of $10 (again, assuming you traded 10,000 units). When you’re trading with pips, small movements in the market can have a big impact on your bottom line!

Why Are Pips Important?

Pips are important because they are the basis for calculating profits and losses in forex trading. When you enter a trade, you will either be buying or selling a currency pair. For example, if you buy EUR/USD, you are buying Euros and selling US dollars. If the price of EUR/USD rises, that means the value of the Euro has increased relative to the US dollar. Conversely, if the price falls, that means the value of the Euro has decreased relative to the US dollar. Your profit or loss on a trade will be calculated in pips, so it’s important to understand how they work.

How Are Pips Calculated?

The value of a pip is different for each currency pair and depends on the base currency, the quote currency, and the size of your trade. For example, if you buy EUR/USD with a trade size of 100,000 units (known as a “standard lot”), each pip would be worth $100. If you buy EUR/USD with a trade size of just 1000 units (known as a “mini lot”), each pip would only be worth $1000. So, if the price of EUR/USD moves from $100 to $101, that would be a one-pip move. And if your trade size was 100,000 units, you would have made a profit of $1000.

One way to think of pips is as the “ticks” on a price quote. For most currency pairs, a pip is equal to the fourth decimal place on a price quote. So, if EUR/USD is quoted at  $100.1234, then a one-pip move would be equal to $0.0001 (one-tenth of a cent).

How to Use Pips to Your Advantage

Now that you know what pips are and how they work, it’s time to put them to good use! Here are a few tips on how you can use pips to your advantage in trading:

  • Use pips to set profit targets.

Once you enter a trade, you can use pips to set a target price for where you want to take profits. For example, if EUR/USD is currently trading at $100 and you buy it with a trade size of 100,000 units, you could set a profit target of $101 (a one-pip move).

  • Use pips to set stop-losses.

Stop-losses are designed to limit your losses on a trade if the market moves against you. You can use pips to set your stop-loss level, which will automatically close your trade if the market reaches it. For example, if you buy EUR/USD at $100 and you set a stop-loss at $99, your trade will be closed automatically if the market falls to $99.

  • Use pips to scale into and out of trades.

Scaling is a technique that allows you to adjust your position size up or down as the market moves. For example, if you buy EUR/USD at $100 and it rises to $101, you could scale into your position by buying more Euros. Conversely, if the market falls to $99, you could scale out of your position by selling some of your Euros.

Pips are a crucial part of trading, so it’s important to understand how they work. By using pips to your advantage, you can make better trading decisions and improve your chances of success.

What are the Pros and Cons of Prepaid Funeral Plans?

Sam Allcock
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What are the Pros and Cons of Prepaid Funeral Plans?

It might feel a little morbid to be thinking about your funeral, especially if you’re young and relatively healthy. However, it is something you should think about and plan for before it’s too late. Making plans and talking to your loved ones about what you want to happen when you die could save them a lot of extra heartache at what will be a difficult time. 

The fact that funeral costs continue to rise has led many people to consider funeral plans. A prepaid plan allows you to pay for your funeral in advance, protects against future cost rises, and means there’s less for your loved ones to organise.

What is a Prepaid Funeral Plan?

A prepaid funeral plan allows you to pay in advance for your funeral or the funeral of a loved one. It is a contractual agreement with a funeral plan provider, preferably one that is registered with the FPA. 

The provider helps in arranging the funeral when the time comes and ensures the items covered by the plan are paid for. 

With a funeral plan, you can agree on the type of funeral you want to have and cover the costs in advance. What this means for your loved ones is that they don’t have to worry about finding the money to pay funeral expenses.  

How Does a Prepaid Funeral Plan Work?

A funeral plan will cover most or all of the costs associated with cremation or burial. Payment can be made in one lump sum or several monthly instalments and the prices are fixed at today’s cost. 

In the funeral plan, you set out the details of your funeral including location, transport, and music. It all sounds pretty simple but there are some things to watch out for:

  • They are not guaranteed to cover all funeral expenses, so check the details of the plan thoroughly before committing
  • Funeral plans are not currently covered by the Financial Conduct Authority
  • The industry’s body, the Funeral Planning Authority is only voluntary

What is Covered?

What is covered under the terms of the funeral plan depends on the plan and provider you choose. Two main costs are associated with prepaid funeral plans: burial or cremation fees and funeral director fees. Most plans guarantee to cover the following:

  • Funeral director’s service
  • Caring for the body
  • Cremation
  • Minister’s fees

Cover may also include the following:

  • A church service
  • Transport to the service
  • Viewings

Several things are unlikely to be covered:

  • Burial costs including a plot
  • Cost of flowers
  • Headstones
  • Order sheets
  • Embalming
  • Catering   

In addition, fees for the crematorium, ministers, and doctors may or may not be covered, depending on the policy taken out. 

The Benefits of a Prepaid Funeral Plan

Peace of Mind

One of the most important benefits is that a prepaid funeral plan brings peace of mind. When a loved one dies it can be very stressful and upsetting for those left behind. Knowing that some of the planning and financial burden is already taken care of reduces some of that stress. 

Those who choose a prepaid funeral plan can rest assured that their family won’t have to deal with the emotional and logistical challenges of organising a funeral and raising the funds to pay for it while grieving the loss.  

Prepaid and Preplanned

Another important benefit is that a funeral plan ensures there will be the funds, either partially or fully, to pay for the send-off you want. 

It’s possible to make arrangements and choose specific details and ensure your funeral goes ahead as you imagine it will. There is also less scope for family and friends to fall out over your wishes. 

Avoid the Rising Cost of Funerals

By choosing a funeral plan you’re avoiding the rising costs of funerals. Essentially, you’re paying for your funeral in the future at the current price of the plan. A funeral plan reduces the risk of your family being unable to provide the funeral you wished for because of financial constraints. 

Tailored to Suit Your Budget

In general, it’s possible to tailor a funeral plan to suit your budget. Flexible payment plans are also often available. 

Funeral Planning Regulation

Funeral plans are regulated by the Funeral Planning Authority. Regulation ensures your funeral plan provider has been scrutinised and can provide the right kind of service and meet its responsibilities. 

The Disadvantages of a Prepaid Funeral Plan

Funeral Plans Aren’t Free

A prepaid funeral plan has to be paid for in advance of your death. You have to find the funds so you can make a lump sum payment or regular monthly payments. 

Not All Costs are Covered

This is an important factor to remember. Most plans don’t cover all aspects of a funeral. For example, a wake or church service may not be included. Loved ones left behind may still have to pay something towards the funeral. This is why it is crucial that you check what is and what isn’t covered. 

Some Plans Have Rules About Moving House

Not all funeral plans cover you if you move to another part of the country or overseas. 

Not Suitable For Someone Close to Dying

One of the biggest downsides is that plans are not suitable for someone whose death is imminent. 

You Can’t Access The Funds Before Death

This might seem obvious but it’s nevertheless important to remember that the funds in the funeral plan are tied up and you cannot access them. 

Now you’re more aware of the pros and cons of a funeral plan you can decide for yourself whether it’s right for you.   

How Can Lawyers Help in Settling a Divorce Case

Sam Allcock
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0
How Can Lawyers Help in Settling a Divorce Case

A divorce lawyer is an essential professional on your side when you are going through a divorce. He can help you navigate the legal process, protect your rights, and ensure you receive a fair settlement. Moreover, the lawyer can provide invaluable support during a difficult and emotional time. Therefore, if you want to file for divorce, you must consult a divorce lawyer to ensure that you make the best decisions for yourself and your future.

Explaining the grounds for divorce

Your divorce lawyer has many responsibilities, one of which is to explain the grounds for divorce. In most cases, the grounds for divorce are based on fault, meaning that one party is considered at fault for the marriage breakdown.

However, there are also no-fault grounds for divorce, which do not require either party to be blamed for the divorce. Instead, no-fault grounds typically cite irreconcilable differences or an irretrievable marriage breakdown. If both parties agree on the grounds for divorce, it is typically faster and easier to obtain a divorce.

If there is disagreement on the grounds, it can lengthen the divorce process and make it more challenging to settle. As such, it is important for divorcing parties to consult with an experienced divorce lawyer to understand their options and rights before proceeding with a divorce.

Property division

When a couple gets divorced, one of the biggest challenges they face is how to divide their property. While some couples can agree on their own, others require the assistance of a divorce lawyer. Sydney lawyers can explain the different types of property division and offer guidance on how to divide assets fairly and equitably. In some cases, the lawyer may also be able to negotiate on behalf of the client to reach a property division agreement acceptable to both parties.

Debt repayment plan

Debt can play a significant role in a divorce case. This can burden both parties, making it difficult to move on with their lives. That’s why one of the responsibilities of a divorce lawyer is to devise a debt repayment plan. The lawyer will work with the couple to come up with a plan that is fair and manageable. He will consider the couple’s income, assets, and liabilities. Additionally, he will also consider the needs of each party.

Once the plan is in place, the lawyer will help to implement it. This can include working with creditors, negotiating payment terms, and ensuring that both parties adhere to the plan. By taking care of this critical issue, the lawyer can ease the financial burden on their clients.
Anyone going through a divorce, no matter how amicable it may be, anyone going through a divorce would be well-served by having an experienced divorce lawyer in their corner. A reasonable attorney can help protect your rights and guide you through the often-complicated legal process. So if you’re considering filing for divorce, don’t hesitate to consult with an experienced lawyer.

Lloyds Bank CEO says customers are struggling amidst soaring inflation

Sam Allcock
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0
Lloyds Bank CEO says customers are struggling amidst soaring inflation

Families now spend an average of £89 more on energy, food and fuel each month, than they did pre-pandemic, Lloyds Banking Group says.

Average UK petrol and diesel prices were hitting regular daily records as of June 2022 – of around 191p per litre of petrol and 199p per litre of diesel.

In a financial update, chief executive Charlie Nunn said a fifth of its customers had to adapt spending significantly and avoid making major purchases.

He said that around one per cent of Lloyds customers were really struggling to make ends meet.

Inflation hit 9.4 per cent in June, the highest it’s been in four decades.

Lloyds revealed it had struggled to boost profits in the second quarter, amid fears that rising prices could make it harder for borrowers to keep up with loan and mortgage payments long-term.

LLoyds staff are being trained to help those struggling with finances while the bank stressed those in arrears were at low levels.Nunn said some of its customers would not have borrowed money from the bank, and so could not default.

UK banks have largely benefited from nine consecutive months of interest rate rises by the Bank of England, where policymakers attempt to control soaring inflation.

Nunn added that mortgage lending was likely to slow over the coming months.

How to avoid a property pitfall

Sam Allcock
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0
How to avoid a property pitfall

In Covid times, looking around houses for sale was interesting – it was all done virtually. It may become the norm and would actually save you the hassle of looking round something you decide you don’t actually like the moment you step on the doormat.

But there’s nothing better than seeing a house in ‘real life’. Take a damp meter and expect every nook and cranny – and don’t be afraid to linger longer.

Here are some of the major things to keep your eyes peeled for when you’re checking out potential properties.

1. Any damp?

You can normally smell if it’s particularly bad but other giveaway signs include flaking plaster, black speckles on wallpaper or wet patches on ceilings. You might want to take a hint of every room has been freshly painted as this could be a damp cover up!

2. Check the boiler

Don’t be afraid to send a gas engineer round to check the state of the boiler before you buy, especially if you suspect it is old or hasn’t been serviced in a while. A good boiler can cost upwards of £3000 so is not a cheap thing to replace. Make sure you get a gas safety certificate to check there is no leaking carbon monoxide, which could prove lethal.

If the hot water tank is in the attic, that’s a sign it’s old and will need replacing soon.

3. Which way does the house face?

In an ideal world we’d all have a south facing garden to catch the best of those rays of light – if we’re in the UK! In the summer your home will be full or warmth and light, rather than very dark. If you can’t tell which way you’re facing with local landmarks to guide you, don’t be worried about taking along a compass to your house viewing. There may be one on your mobile. A good time to view a house is in the middle of the say to get an idea of light.

4. Big cracks?

With older houses you can expect to see a few cracks. But we’re taking big ones where extensions join or near bay windows. Basically you’ll want to find any issues now so you can ask a surveyor to investigate further – or negotiate on costs to repair.

5. Sneaky tactics?

Don’t forget someone is trying to sell their home, so they’re going to try every trick in the book to make their house look more appealing. Large mirrors to make rooms look bigger, nice candles on to disguise damp, fresh paint, lovely cheese plant hiding a rather large crack by the door frame…so don’t be fooled!

Take photos (if they let you) and ask if they’re leaving anything behind. Even if they’re not to your taste, curtains are always handy to have in every room when you first move in.

6. Enough storage?

However much you cleared out before you move house, throw in a pet and a couple of kids and you’re definitely going to need storage solutions. Check if the loft is boarded (if there is one) as this will give you multiple options for all those suitcases and winter coats. Check under stairs for extra storage for things like shoes, coats and beds as it all needs somewhere to go!

7. Do the windows need replacing?

Windows and frames are a great indicator of the rest of a house. If you can see condensation between panes of double glazing, you need to replace these as they are faulty. If frames are wooden, don’t be scared to touch them to check how sturdy they are.

It may be that you just need new glass as the older frames are of good quality. New windows should always be installed by a registered approved inspector so you should get a FENSA or similar certificate, which can have a guarantee.

8. What’s the local area like?

Yes you’ll probably like to be in walking distance of a paper shop, somewhere to grab a pint of mik and perhaps get a chippy on a Friday night. You may want to be near to public transport? Where’s the nearest bus stop?

Things to check for are nearby transport, for example noisy train tracks, airport runways, flight paths or main roads. If you’re near a school, it’s going to be pretty busy for 30 minutes before and after the bell goes. It might be nice to have a local boozer but do people get rowdy and chucked out regularly!?

It’s always good to have a second viewing at a different time of day to your first, especially so you can check out the parking situation. Will you be able to get both cars outside your property if there’s no drive?

Ask a friend to go with you for the second viewing as they might spot something you haven’t.

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