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4 Ways Employees Are Abusing Your Online Time Clock

Sam Allcock
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4 Ways Employees Are Abusing Your Online Time Clock

Using an online time clock can help run your business smoothly and limit risks. Running a business means you need to watch everything that is going on. You want to ensure your employees are doing their job without micromanaging them. If you’re a manager, you want to find ways to keep an eye out for your team but still be able to give them the freedom they deserve.

Sometimes, that doesn’t always happen. Most people who make up your team will be kind and want to help your business grow. However, some employees will want to take advantage of you and abuse your older time clock system. This is why it should be your number one goal to switch to an online time clock if you haven’t already.

You may not know this, but there are ways that an employee can abuse their time clocks with other systems. It’s easier to get away with, harder to catch, and may leave you frustrated. Time theft should not be tolerated, but how can you stop it if you can’t see it? You may not know what to look for, and that is where we come in to help you.

Here is a list of all the ways employees can abuse the time clock you have now.

4 Ways Employees Can Abuse Outdated Time Tracking Systems

Having to always keep up with your team is impossible; you can’t be there to watch every team member punch in. Using an older time punching system means that these situations are more likely happen to happen. If you switch to a new online time clock software, these risks can be limited.

Buddy Punching – Buddy punching occurs when one employee punches time for a coworker even when they are not there. Someone could be running late and call their friend to punch them in so they won’t lose any hours. This is good for them but makes you and your business lose money. It should be limited, and an online timecard system can do that for you.

Falsifying Hours – When using an old time tracking system that is done all by hand, it is easier to add a few minutes extra each day. An employee can easily add a few more hours in to make it look like they worked more. This means they get paid more for work they did not do. Modern online time clock software can automatically capture work hours in real-time and reduce unnecessary manual adjustments.

Skipping Breaks – If you have mandatory breaks, your employees could be skipping them because it allows them to make more money. However, the opposite can be said as well. If they know you don’t keep a close eye on breaks, they may take more breaks than do any work. This could also be theft of company time. Online timesheet software allows you to alert employees of upcoming breaks and be alerted if a worker skipped a requirement break.

Punching Out Early – With ancient time tracking systems, an employee can easily leave early and fix the records later, and you would have no idea. Conversely, the employee could leave later in the day to gain more hours, and you would not know why. Either way, they get paid more than they should be. Online time clock software allows you to limit when employees can punch time and notify you if they leave work outside their scheduled hours.

Most employees would never do this to an owner or manager they are dedicated to, but it does occur. You should be prepared for these situations to happen, and it is your job to limit these occurrences. They are risky and can lead to a reduction in profit, but luckily you can invest in employee timesheet software to help.

Labor costs are often the most significant expenses in a business. Of course, you want to pay your team everything they are owed, but no more than that. With online time clock solutions, you can ensure accurate payroll and limit risks that can harm your business. Everyone will know that you can see who punches in, what they’re working on, and how productive someone is. This can save you time, money and create a stress-free workspace.

Here’s What You Need to Know About Virtual Employee Monitoring

Sam Allcock
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Here’s What You Need to Know About Virtual Employee Monitoring

Workplaces around the world have become increasingly virtual in the past decade, and with the pandemic spiraling throughout 2020 the number of remote workers around the world rose significantly.

Some research even suggests that most of the people will actually continue working from home even when the lockdown restrictions become a thing of the past. Even the major tech players like Spotify, Google, Facebook and Twitter announced their new remote work policies.

However, it’s important to note that with the rise of remote teams, we’ve also seen a rise in virtual employee monitoring software. And while the debate about the ethics behind its usage will never go down, we should still talk about what you should and shouldn’t do if you’re looking to use such a software (especially if you want to avoid employees’ backlash!).

In this article we’ll go over some bad practices, and explain how you can replace them, as well as some tips to get the most out of the virtual employee monitoring software you’re using.

Don’t Focus on Everything

When you’re implementing a monitoring software, regardless of the environment, you should have a specific goal that it will help you achieve. Perhaps you’re looking for a way to measure and improve productivity, or you want to simply track employees’ attendance. It’s important that you have an attainable goal you’d like to achieve with this tool if you want to use it properly.

Every virtual employee monitoring software is different, but they usually come with the plethora of features, some of which might be completely unnecessary for your goal.

Let’s say that your goal is to measure and improve productivity of your virtual team. In this case, you would need a software that helps you label apps and websites employees are using as productive or unproductive. Based on the time employees spend in those apps, and overall computer activity, the software will calculate daily, weekly and monthly productivity percentage (on an individual or team level). But, the software you selected maybe has an option to take screenshots of employees’ screens – this feature is in no way related to your goal, so you shouldn’t use it.

If you keep focusing on every piece of data the monitoring software provides, you’ll quickly lose track of what’s important, and eventually miss the goals you’ve set.

Don’t Go Into Every Detail

Now this one is important regardless of your goals. Having information about every daily activity of your employees can seem overwhelming, but only if you keep looking for the needles in the haystack.

Even if your goal is to increase your team’s productivity, the fact that they spend an hour per week doing something that’s not related to work isn’t a fireable offense. You probably spend time on social media or news sites while working as well, and it never hurt anyone.

Yes, these distractions can become a problem. If your employee spends more hours per day on non-work tasks, you should definitely have a conversation with them. But, if they scroll mindlessly for a few minutes, you’ve got nothing to worry about.

What you should do is pay attention to how these distractions affect their performance. It’s been proven that breaks help us focus and perform better.

Be Transparent

This should go without saying, but never use a virtual monitoring software without your team’s knowledge. First of all, it’s illegal (in most countries and in most cases), and second – they’ll eventually find out about it and you’ll be in for one tough conversation.

First and foremost, you should get legal consultations from the experts in the countries your employees’ are based in. Each country has its own regulations, so what’s allowed in one place might be forbidden in another. Once you’re done with that, you should create monitoring policies and consent forms which will detaily explain why you’re using the software, how you are using it, which data it collects, who has access to it, and so on.

After having an open conversation with everyone on your team, share the policies and consent forms, and be open to answering any questions or concerns employees might have about monitoring.

If the software offers that possibility – give employees access to their own data. This will put their minds at ease, because they won’t have to worry about what it is that you’re seeing on the other end of the software.

Final Thoughts

Transparency goes a very long way in terms of virtual employee monitoring software, so make sure that’s on your priority list. Next, as we said, don’t focus on every single piece of data, and don’t nitpick. Focus on the big picture, on the goals you want to achieve with the software, and make changes in your processes as you go.

3 of the best European countries for UK graduates after Covid

Claire James
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3 of the best European countries for UK graduates after Covid

The coronavirus crisis has decimated the UK’s labour market, with the country suffering the worst jobs outlook in the whole of Europe. More employers are planning to let go of staff than hire them in the first three months of 2021, and only 49% expect their hiring to return to pre-pandemic levels in the next year. British businesses are also suffering from the effects of Brexit, with many planning to move operations overseas because of complications resulting from the new arrangements.

All of this appears to be filtering down to workers and their decisions going forward, especially those at the beginning of their careers. Indeed, Brexit and the Covid-19 situation combined has prompted 1 in 3 young Brits to consider leaving the country for work. In particular, those coming out of university may wonder if starting their career here is the best option right now. And with a number of neighbouring nations seemingly in a better position than the UK, looking for jobs in other European countries might be the way forward. That’s why we’ve looked at three of the best for graduates to consider below.

1.    Netherlands

Talking of Brexit, the flow of businesses moving to the Netherlands as a result remained high in 2020, with Amsterdam becoming one of Europe’s most popular business hubs. The Dutch capital is set to become the continent’s number one corporate listing venue in 2021, and has already overtaken London as Europe’s largest share trading centre. Moreover, the Netherlands as a whole has an unemployment rate of 3.6%, a much lower figure than the UK’s 5%. As such, the Western European nation is the first place British graduates should be considering moving to for work, especially as it had Europe’s third-highest pre-Covid graduate employment rate.

Arguably the best industry to work for in the Netherlands is the tech sector, with its startups providing the country’s number one job growth engine. Compared to all other industries, tech job openings were up by 4% in Q2 2020, compared to 2019. The country boasts a huge array of tech companies to work for, from industry giants like SAP, to smaller businesses such as LALALand and ChannelEngine. Another fertile ground for work is the healthcare sector, which added 108,000 jobs since 2017, and still had the second highest number of vacancies at the end of September 2020.

2.    Malta

Malta has handled the economic fallout of the pandemic very well, offering the world’s largest support measures by percentage of GDP. The nation’s spending package totalled 22% of its economy, much higher than the likes of the US (14%), Australia (11.4%) and the UK (5%). This has resulted in only a marginal increase in unemployment there, though. The country is expected to enjoy employment growth of 0.5% in 2021 and 2.2% by 2022, in huge contrast to most other nations around the world. Consequently, Malta’s future prospects look excellent, and could be the perfect place for graduates to relocate. Indeed, the country was ranked the number one place for European graduates pre-Covid.

One of the best Maltese industries to work in is the financial sector, which accounts for over 12% of its GDP, and employs over 10,000 people. The country is internationally renowned for its blue chip banks, investment houses and fund managers, and its financial sector looks set to withstand the pandemic. Meanwhile the tech sector contributes almost 9% of Malta’s GDP, and actually saw a rise in demand during the first six months of the coronavirus crisis. Some of the top Malta tech startups include Solfy, Quidax and EBO.ai.

3.    Sweden

Another European country that has dealt with the coronavirus better than most is Sweden. Although its economy did contract 8.6% in the first three months of the crisis, this was significantly lower than the EU average (11.9%), and major countries like Spain (18.5%), France (13.8%) and Italy (12.4%). And while unemployment has risen during the pandemic, there are signs that the job market is once again on the up. For example, 36,000 people who registered with the country’s national employment agency started a new job in August 2020 — almost 9,000 more than in August 2019 — and around 29,000 of those were previously unemployed. As a result, Sweden represents a economically stable option right now, which is why graduates should consider the Scandinavian state when looking for jobs after university.

The country’s main source of employment is its industrial sector, which employs 17.7% of its workforce and accounts for over a fifth of its GDP. Among the big name companies are Volvo, Ericsson and H&M, with opportunities in a range of different roles within the sector. Another major industry in Sweden is the service sector, which employs over a third of the country’s workers.

10 Most Common Gambling and Casino Myths Analyzed

Sam Allcock
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10 Most Common Gambling and Casino Myths Analyzed

Gambling has evolved over the centuries to keep up with technological advancements, and its myths and far-fetched tales have grown to keep up with the changes. The dependency of luck and some skill gives casinos a mysterious aura that gives rise to many theories. These tales are used to explain reality loosely, but they are just figments to drive the overactive imaginations of naive players. With the increasing number of users playing at online casinos in UK, a lot of interesting thoughts and false misconceptions have been making rounds online. There is a myth floating around for almost every element in casinos, and here is a look at ten of the most common ones and the facts that debunk them as theories with no grounds.

Gambling is not Addictive

The myth that gambling is not addictive is often supported by the fact that it does not cause physical effects like alcohol and drugs. However, mental health is also established as an essential factor to consider in physiology. Gambling has been established as a leading cause for mental illness, making it as dangerous as any physical addiction. Problem gambling interferes with the social, financial, and mental wellbeing of thousands worldwide every year. Several countries have taken the initiative to nip the issue in the bud such as the United Kingdom and Australia. These jurisdictions apply laws such as: 

  • Casinos have to include customizable spending limits in players’ accounts;
  • Credit cards cannot be used to deposit cash to be used for bets;
  • Only gambling dens with licenses can offer services to residents of the country;
  • Players have to confirm that they are of legal gambling age before accessing services.

Games are Rigged

This myth does hold some water, but not in the way most gamblers think. Some people believe that the casino has the power to influence the results of games.  For instance, a dealer handling a roulette game can control where the ball lands. This theory is just fiction, and both the player and casino are in the dark on any game’s results. However, the odds are stacked against the player in favour of the house. Players can come out on top in the short run, but the house always wins over time. Even over a short period, the chances of losing are higher than those of winning. The math used to design the games makes the payout odds lower than the winning odds. This makes all of the slots negative-expectation games.

Luck Can Be Sensed and Influenced

The superstitious community believes that every gambler is a psychic who can tell when they will be lucky. Some depend on charms like rabbits’ feet, horseshoes, numbers, colours, and four-leaf clovers to summon good fortune. These myths are widely entertained, but they do not quite work. Casino games produce their outcomes randomly using random number generators. These programs generate millions of codes with each round, and those that match the required results are selected randomly. This makes it impossible to tell the gameplay outcome accurately.

Card Counting is Illegal

Card counting is a frowned-upon tactic used by blackjack players to win the game by tracking the cards being dealt and playing each hand accordingly. The practice can only be exercised in land-based casinos, and the establishments discourage it at all costs. Gaming clubs take measures to discourage anyone they suspect of counting cards by shuffling the cards after each hand, asking the gambler to play another game aside from blackjack or ban them from the establishment entirely. However, one cannot be arrested for the practice since it is not illegal. Harsher measures can be applied if one is caught card counting with a device.

Casinos Use Oxygen to Keep Gamblers Alert

This myth is a ridiculous theory that is told about land-based casinos. Pumped oxygen is used to make people stronger and more alert, but it would be impossible to use it at brick-and-mortar establishments. Not only is it expensive, pumping oxygen into crowded casino floors with electrical gadgets all around and smoking people would open the doors for a fire disaster like no other. Rumour has it that this myth originates from Fools Die, Mario Puzo’s novel, where one of the characters pulls off a similar stunt.

The Casino is Unbeatable

Most myths that need debunking are related to winning over the casino. However, it is possible to come out on top in the long run. Some sets are unbeatable, such as no download slots where no skill can be applied to influence the odds. In other games such as blackjack, poker, and video poker, players can gain enough experience to have the advantage over the casino. These sets accommodate different techniques that allow the gambler to edge over the casino in the long run. One such tactic is counting cards, which is applied in blackjack. Some players go on to forge professional careers in gambling and earn millions of dollars annually. It is also possible to win through sheer luck over the long run.

Bonuses Change Winning Odds

It is a common belief that playing using casino bonuses affects a game’s winning odds for the better or worse. The RNGs used to run pokie machines are not connected with gambling incentives, making it impossible for players to influence the other. Whether a spin is played with real or bonus money, the results remain random and cannot be predicted. The winning chances are always the same in the previous round as they are in the next one.

Online Gambling is Illegal

This statement is either a myth or not depending on one’s country of residents. Most countries around the world open their doors to the gambling industry in one way or the other. In some countries, the sector is among the highest revenue-generating ones that support the economy. The United Kingdom, Canada, the USA, Australia, and New Zealand are some of the countries where casinos are thriving. However, in others, the practice is banned entirely due to varying reasons. Countries like the UAE, Iran, and Israel apply the law due to religious reasons.

In Brief

Myths about gambling and casinos will always be around, and it is your responsibility to establish that they are false. These theories are often rooted in superstition, ignorance, and paranoia.

Where To Invest: Bitcoin Or Stock?

Sam Allcock
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Where To Invest: Bitcoin Or Stock?

As an investor, you may be worried about the stock market, therefore, searching for an alternate investment, including Bitcoin. As cryptocurrencies are digital currencies, it is necessary to analyze your overall portfolio and take the required danger.

Bitcoins Are A Lot Less Expensive:

Investments are not risk-free. It might go wrong and crash for different causes. The business could go bankrupt. Or, in the right way, it could fly upwards for some time. When you start incorporating new assets into your portfolio, it is essential to understand the possibility. If you are an investor and plan to invest and don’t know about bitcoin trading, visit.

Cryptocurrency such as Bitcoin is speculative with its basis, not effected dependent on supply and demand. “With blockchain, money has a central supply and it is consistent. So, it’s not ‘everything dependent on what people are able to spend,'” according to Roberts. In the financial market, a market price is the cumulative valuation of all the market stocks. For cryptocurrencies, the bitcoin supply’s total amount is far less than the market cap, but it swings up and down a ton.

Bitcoin Vs. The Stock Market:

While we don’t get to base a projection of possible results on the past, it is helpful to have a peek at how different investments have been made over time. In 2017, with Bitcoin increasing in price to almost $20,000, the Dow Jones Industrial Average was still at $24,000. As of July of 2020, the Dow Jones was about $25,000. Bitcoin has been highly unpredictable ever since it was produced because there is no standard way to value it. When the price doubled, the newspapers got quite a ballyhoo over it, prompting consumers to start running into the market to purchase. The price went up and hit $3,000, and now they are down at $9,000. To invest in bitcoin create a free account now

Bitcoin Profit:

You might be involved in Bitcoin if you’re searching for anything in your portfolio that varies from other stocks and bonds. Cryptocurrencies, including Bitcoin, are an option to other more traditional properties. In general, even though you feel that Bitcoin is a decent match for your fund, Stein and Chisholm concluded that it certainly shouldn’t be the key objective of your investing plan. Before the investment, it’s something to think about how much risk is involved and whether the individual is happy with the amount of risk to lose.

“Just like you might guess, buying Bitcoin is like playing the equity market. If you like the statistics and the calculus behind it, then think that it might go to $0 or up twentyfold.” We must have a response to “So how much of our portfolio are you ready to lose?” You restrict the distribution to 1 to 5 percent of your portfolio based on your risk perception.

 Invest in Stocks:

For most individuals, a combination of stocks and bonds is likely to be sufficient for most of any portfolio. As a guideline, most investors would like to have a substantial share of their portfolio made up of securities. You may place a rating on a company by its financial report even though it has a more significant variance in a brief period.

The central belief, though, is that since the future is unpredictable, the organizations would inevitably form and offer continuity regardless of whatever means are found to be non-viable. There is a strong probability of remaining safe for the long term whether you participate in a broad-based or a broad-based exchange-traded index fund, holding several of the world’s biggest firms.

Investing in Bitcoin:

Back then, a bitcoin’s price was not anything higher than the price of a cafe in a luxurious shop. You are, of course, right about your fears, but so many investors do not worry about the risks involved. If you believe in the thesis of Bitcoin, there’s always a justification for why you should put any of your capital into it; just be mindful about how much of your financial portfolio you commit to it.

Stein thinks that if you plan to invest in cryptocurrency, you should realize that he has just 3% of his portfolio invested in it, but he thinks it’s sufficient for achieving the financial objectives. If history repeats itself, electronic smoking is becoming a ubiquitous object of consumption in the future, when the growth of legislation on aerosol development and the global success of e-cigarettes is generating a definite market.

Guidelines On How To Improve Finances

Sam Allcock
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Guidelines On How To Improve Finances

There is a common statement that money can’t buy happiness, however, that may not be exactly true since once you have money, you can buy just about anything. Money is necessary for survival and even more important if you want to have a comfortable life. Saving money is always a great idea, however, it won’t help you to significantly increase your cash. Instead, it is better to invest your money so that you can secure your future. You definitely need to manage your personal finances and plan your future accordingly. When you work on your financial well being, it will certainly save you a lot of trouble in later years. By simply making small but consistent investments, you can definitely create a better future for yourself and your family. We will now cover a few ways that can help you to boost your financial situation.

Create a budget and properly manage it

You definitely want to take an organized approach to your finances. Thankfully, there are numerous tools you can use to do that, both online and offline. Make sure that you successfully track your money and always know your net worth. To put it simply, your net worth basically shows your current financial standing. This number will fluctuate over time, especially when the market goes up or down. However, when you take the time to track your finances, you will be better able to determine your progress and identify areas for improvement. Next, you should make a budget for yourself. This can be done by calculating your expenses and determining which areas are most important. It is best to place your expenses into specific categories such as food, transport, rent or mortgage, saving etc. When you learn to track your money, you’ll be more capable of managing it. Then, if there is money remaining after all of your expenses have been paid, you can then determine the best way to use it.

Always create savings

There should always be money saved up in the event that emergencies occur. Always make sure to save for your retirement since you never know exactly how life may turn out. Always strive to be prepared as possible for the worst-case scenarios. You should also invest your earnings as another way of saving. Keep in the mind that the longer your investment, the more money you’ll get in return. So, if you’re currently working and getting a monthly salary, make sure to track provident funds. Start a saving plan asap so that it will take less time to achieve your short- and long-term goals. The great thing about starting early is that you would be able to save less as time goes by which would free up your personal funds.

Be aware of lifestyle inflation

When you make more money, you’ll tend to spend more. This is a typical trend that the majority of people go through and is called lifestyle inflation. However, if you spend too much money, you’ll negatively impact your long term savings and wealth. Most people want to be seen as or keep up with the upper class. If your friends and family tend to go to expensive restaurants, then you’d likely feel the need to the do the same. Unfortunately, this is very costly over time. Of course, as you make more money, a reasonable increase in how much you spend is normal to improve your lifestyle, however, make sure to avoid going over the top.

Determine exactly what you want and need

It is important to determine exactly what you need versus what you want so you can make more informed spending decisions. Some of your needs include water, food, a place to live etc. Wants on the other hand are desires that you don’t absolutely require in order to survive. It is much better to purchase an inexpensive car or other means of green transport that is economical as oppose to a costly BMW since both vehicles will help you to get from point A to B safely. Always prioritize the most important needs and then after you can look at fulfilling some of your wants.

Always have emergency funds

You can never tell what may happen at any time. So, always set aside a part of your salary to create an emergency fund. This will help you to cope with unexpected expenses. If however you have a financial emergency before you have had a chance to build up a fund take out a £500 loan to cover expenses.

10 Real Estate Terms You Should Know

Sam Allcock
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10 Real Estate Terms You Should Know

Have you ever heard your realtor say a word that had you scratching your head?

The world of real estate can seem foreign and complicated to some, especially if you’re a first-time buyer or seller. Even if you’re considering entering the real estate industry as a profession, you can benefit from knowing a few terms so that you can maneuver your way through the world of real estate.

Knowledge is power, and in real estate, you’ll feel more confident in your ability to make decisions and understand the process if you had knowledge of the terms realtors and brokers use to communicate regarding your deal.

Let’s start with the basics: what is real estate?

Real estate can be defined as property that is man-made or natural and can include land and anything else attached. There are five categories of real estate. It consists of:

  • Residential
  • Commercial
  • Industrial
  • Raw land
  • Special use

Individuals, private companies, and even government agencies can invest in real estate by purchasing a home or renting a property.

Now that you have a solid foundation on what real estate is, you can go ahead and learn more about these # real estate terms. This terminology should be added to your dictionary and should be kept in your back pocket for that moment when you find yourself in the midst of a real estate deal.

1.   Mortgage

A mortgage is a loan that is used to finance a house or property.

A reverse mortgage is a financial agreement where the homeowner converts their equity in their home into cash without having to sell the house or pay monthly. Reverse mortgage counseling is required for this transaction.

2.   Agent

A real estate agent is the person who will be representing you in the real estate transaction. They are professionals with a real estate license that can answer any questions you may have throughout the process. Their duties include showing you listings, negotiating on your behalf, sending you paperwork to sign, and closing the real estate deal.

3.   Addendum

An addendum is an additional agreement tacked onto a contract that details any further requests that the individual on either side of the contract would like to make. These are specifications that were not explicitly laid out in the purchase agreement when buying a renting a property.

Some types of matters that are included in an addendum include keeping furniture with the house, repainting, and more. Such contingencies would be found in the addendum.

4.   Contract

A real estate contract is a written agreement detailing the terms and conditions of a real estate deal. It must be notarized and signed by both sides of the agreement. A contract is a reference should any disagreements emerge.

5.   Disclosures

For an open and honest real estate transaction, your agreement should include disclosures that offer serious buyers or renters information that could make the property seem less desirable. This includes any structural issues, the condition of the A/C unit, etc.  

6.   Pre-Approval

If you’re serious about buying a home, the first step you should take is getting pre-approved for a loan. This approval means you are a serious, credible buyer looking to place an offer. A seller is more likely to entertain you if you have a pre-approval. You are also able to know how much money the bank is willing to loan you based on your credit history. This then determines how much money you know you can put down to buy the house.

7.   Walkthrough

A walkthrough is when the potential buyer tours the home they have placed an offer on so they can assess any negotiating points or important fixes to point out in the addendum of the contract. This is your chance to point out any concerns or aspects of the house you want fixed before you move in or discounted off the price of the house.

8.   Escrow

When a house is in the closing phase, the transaction goes into escrow. Escrow is when your funds are secured by a third party until the contracts are signed and the transaction is complete.

9.   Curb Appeal

If a home has “curb appeal,” that means it is attractive on the outside and can probably sell a lot easier than one that needs some TLC.

10.                Turnkey

A property that is “turnkey” does not need any work done and is ready for move-in.

How to Spend Money Wisely: 10 Habits to Watch

Sam Allcock
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How to Spend Money Wisely: 10 Habits to Watch

Adult life seems to be something of a routine, paying bills and earning money. However, occasionally you might come into some extra money whether you win it on the bingo or are given it as a present. So how do you know what is the best way to spend your winnings and other cash you may happen to have leftover at the end of the month? One way you can be sure you are spending wisely is to avoid these ten bad spending habits. 

1. Ditch the Coffee

Don’t panic; we don’t mean that you can’t have coffee. We simply mean that you shouldn’t be regularly buying your coffee from a take-out coffee house. You will save a fortune for spending on niceties if you purchase a reusable cup and take your coffee with you in the morning. 

2. Bring Lunch 

Another way to ensure that you have plenty of spare money to buy luxury items is to bring your own lunch to work. It may not be as exciting, but you will undoubtedly save a small fortune if you do not regularly go to a coffee shop or other sandwich outlet every lunchtime. You could use up the leftovers from the night before or make a sandwich before you leave for work. It is also a great way to help you get your summer body ready as it avoids the urge to overeat. 

3. Watch for Hidden Fees

Be careful when it comes to withdrawing cash, we have headed towards a cashless society anyway, and most places take contactless cards, so withdrawing from a cash machine is actually becoming a chargeable activity. It may only be a few pounds here and there, but it soon adds up if you regularly make cash withdrawals to pay for things. 

4. Do You Really Want it

Did you know the average person will buy and sell about 10 exercise bikes in their lifetime? Of course, there are plenty of people who like to keep fit and regularly use their gym equipment, but for many of us, a resolution to get fit involves buying an expensive piece of gym kit, not using it and selling it on until the mood strikes us again. Think about whether you really need something before you buy it.

Wallet, Credit Cards, Cash, Money

5. Debt Traps

Robbing Peter to pay Paul is never a good way to manage your finances, and while it can be tempting to skip a payment and accept a late payment charge next time, it is not a great way to go. Late payment fees again may not cost you much money at the time, but they are a sign that you are not managing your money well and need to rethink. Work out a way to ensure you can meet all of your bills, even if that means you can’t spend extra for a couple of months. 

6. Watch for Offers

Be less fussy when you are shopping with, you might have a favourite brand, but sometimes you can save money by purchasing an offer on a different brand. Crisps, beans, bread, you name it, at some point supermarkets will pop an offer on, and you can actually save quite a lot by buying more than you need and storing it at home. 

7. Keep Track 

While it can be very tempting to just pay your bills as they come in, it is better to track them and understand what you are paying and why. Things like credit cards can often be better utilised if they are paid off in full rather than the interest being added and paid each month. Create a spreadsheet with your monthly spending, and you will be able to see where you can reduce your outgoings. 

8. Car Share

Being thoroughly disorganised in the morning can cost you money in the long run. If you can car share but choose not to because you cannot guarantee to be ready on time, you need to address your habits rather than turning down the opportunity to save some petrol money. Have a chat with other people in the office and see who a good carpool buddy could be. 

9. Public Transport

Do you actually need to run a car? Public transport has improved drastically, and it might be possible to do your daily commute without needing a car in the first place. Weigh up the cost of public transport versus the full ownership cost of your vehicle, including tax, MOT, insurance and maintenance and see how it compares. 

10. Fakeaway

While it’s always nice to get a takeaway, a fakeaway could be a better option. Whether that involves frozen pizza, a takeaway Indian bag from a supermarket, or other convenience meals, you can still have a leisurely evening of cooking after a hard day in the office by opting to fake your takeaway instead of spending double or more on having food delivered. 

Copy Trading in Nigeria: A New Way to Invest

Sam Allcock
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0
Copy Trading in Nigeria: A New Way to Invest

If you live in Nigeria, and have been thinking to invest in a dynamic platform, but clueless about how to begin, there is a way, and a lucrative one. With the wider reach of digitized investment platforms and foreign currency exchange, investors from Nigeria can effortlessly gain through a system called “Forex copy trading” or “Social trading.” By following this defined and automated system, you can generate significant earnings.

The basic concept of copy trading revolves around replicating or copying trading strategies of successful investors in the Forex market. Besides, this platform allows new investors to copy multiple traders, which diversifies the portfolio, resulting in lower risk.

The good news is copy trading is here to stay. According to a recent survey, the copy trading market is likely to grow to €70 billion by 2025 (At a yearly growth rate of 48 percent).

To start copy trading, select a reliable and profitable platform with a proven track record of providing a transparent trading system through sharing investment strategies. You can copy their trading strategies with one click after checking their investment history.

More Insight into Copy Trading

In short, copy trading or social trading platforms enable investors to copy successful trades by experienced investors, who have raked substantial earnings by implementing their strategies. Due to the automated system, copy trading is also called “auto-trading.”

Copy Trading System (Source: almvest.com)

You can invest through copy trading across all the major markets, such as FX, stocks, indices, and commodity markets. More than 85 percent of Forex transactions happen using the currencies, including GBPUSD, EURUSD, USDCAD, USDJPY, USDCHF, AUDUSD, and NZDUSD.

Copy trading is one of the simplest ways to leverage the knowledge, experience, and skill of experts to earn a good income.

How Exactly CopyTrading Works?

There are mainly two ways of doing it.

1. Replicating the investment strategies of successful traders and earn well

It is for those investors who want to invest in a copy trading strategy, following expert traders.

  • Select the strategies of expert traders.
  • Copy their trading strategies.
  • Get the same percentage of return as the expert trader without any professional trading knowledge.

Benefits:

  • Simple system: The copy trading system is so simple and user-friendly that you do not need any expertise in trading. You only need to replicate the strategies of seasoned traders.
  • Flexibility: All the trading strategies are available on the web-based platform for copy trading Risk Allocation Management Model (RAMM) or in the mobile app on iOS as well as Android devices.
  • Easy to select a strategy: You can select a successful strategy after checking the ranking list. Check the suitability of the strategy based on the factors such as income potential, percentage of commission, age of the strategy, etc.
  • Keeping control of your funds: For trading, you do not need to transfer your funds to the management of the trading platform, and worry about them. The money stays in your account.
  • Income multiplication: A leading copy trading platform will have a multiplier, which will enable you to increase your earnings up to 10 times or minimize your losses.
  • Transparent fees: You will only pay fees to a trader when you earn a profit after using his/her strategy.

2. Creating Investment Strategies and receive high income when others copy your strategy

This method is for expert traders who can create strategies and earn from investors’ profit, who follow those.

  • Create investment strategies on a copy trading platform.
  • Earn from the investors’ profit when they copy your strategy.
  • You may earn up to 50 percent of investors’ profit as a trader’s fee.

Benefits:

  • Your strategies can easily attract investors: Mostly, the minimum opening deposit required is $100 for a copy trading account. Such a low deposit amount attracts many investors.
  • Auto trading system: Thereis no need to adjust new investments in your trading. The entire system is fully automated.
  • Receive weekly payments: The auto trading system checks and calculates investment results weekly and transfers your earnings as a trader’s fee to your account.
  • You can decide the percentage of profit yourself: When formulating a trading strategy, you can decide the percentage of investors’ profit for protection.

What Financial Authorities Say about Copy Trading?

  • A report by the World Economic Forumillustrated social trading networks as disruptors, which provide sophisticated, low-cost alternative to traditional wealth management. Social trading caters to a broader customer base and empowers investors to have greater control of their wealth. This system also poses a tangible threat to the conventional ways of managing wealth.
  • Financial Conduct Authority or UK FCA expressed its view on copy trading as a portfolio or investment management where no manual input is required from an investor. Also, copy and mirror trading fit the MiFID Directive.

Closing Words

Before signing off, it is important to say that even the more streamlined copy trading is not a get-rich-quick scheme. Regardless of which trading platform you use, there is no such thing as a risk-free investment.

Although successful investors will serve as guides, traders should always try to improve their ability to evaluate risk and value, diversify to reduce losses, and receive high returns. Check out this copy trading platform in Nigeria that is easy to signup, simple to follow, and provides good earning opportunities.

The Current & Future View of UK Imports

Sam Allcock
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0
The Current & Future View of UK Imports

Brexit has had a big impact on the UK and its trading partners. For those it effects, it feels as though it has been going on for quite some time and for those living in the UK, there has been much confusion around how it will affect imports and how as consumers, we can access the brands and products we desire most.

This post will look at the UK import industry in more detail, from who the biggest importers are to the potential future opportunities.

According to research carried out by Freightline Carriers, the top three importers to the UK pre-Brexit were Germany, China and the United States. Below we will look at these deals in a little more detail and how they may look in the future.

Germany

Germany have historically been at the top of the list for UK imports, generally due to the automotive industry. In fact, from Nov’ 2019 to Nov’ 2020, £30,875.83 million worth of goods was imported from Germany to the UK. When looking at the data for 2020 from January to June, Germany actually fell into second place with the United States overtaking.

China

From Nov’ 2019 to Nov’ 2020, China was the second largest UK importer, importing £22,953.33 million worth of goods. This is a huge increase and may indicate a potentially blossoming relationship as China was in fifth place during the first half of 2020.

United States

Interestingly, the United States was the third largest trading partner for the UK from Nov’ 2019 to Nov’ 2020, importing £16,056.82 million worth of goods. A post-Brexit trade deal is currently ongoing, so we will have to wait and see just how much we can expect from the US in imports.

Considering deals have already been made with other countries including Central America, it may come as a surprise that one has not already been made with the United States.

The Future of UK’s Importer Trade Deals

Free Trade Deals are really what the UK needs. This means that goods and services should be cheaper to trade due to eliminating tariffs and taxes and quotas – although, the details can differ on occasion.

Currently, the UK still falls under a free trade deal with the EU but due to a difference in regulations, paperwork and product checks, this makes the trading process longer.

When considering trade deals outside of the EU, we found that the UK currently has deals with 63 out of the 70 countries the EU have trade deals with. When looking at the future, it seems as though Japan and the Asia and Pacific Nations may look to overtake many EU countries as leading UK importers.

In October 2020, the UK made a trade deal with Japan which equates to 2% of the UK’s total trade. The UK has also applied for a Free Trade Deal with Asia and Pacific Nations – although, we do not currently know the outcome of this application, we can say it’s approval would change things.

Other current conversations are with the United States, Australia and New Zealand, the details for these potential deals are not fully known but again would affect the UK’s trading landscape considerably.

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