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Are Trump and Brexit Affecting My Investments?

ABC Staff
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0
Are Trump and Brexit Affecting My Investments?

It seems as if Donald Trump and the Brexit conundrum have dominated the news for the better part of a year. Not only are we entering into a brave new world in regard to politics and economics, but many investors are rightfully concerned about how these two variables might impact their holdings. Let us take a look at a few key points in order to address the most relevant questions. 

Trump’s Promised Trade War

One of the tenets of the “America First” campaign was to protect domestic businesses by rectifying trade imbalances with foreign countries. Donald Trump placed a particular focus upon China, as the deficit was a staggering $375 billion dollars in 2017. By increasing tariffs on a host of Chinese goods, Trump hopes to narrow this gap.

However,https://www.thebalance.com/u-s-china-trade-deficit-causes-effects-and-solutions-3306277 there is a problem with such thinking. As Moneyfarm highlights, trade wars are generally seen as negative situations in regards to global growth. This is even more worrisome if we take into account the potential for cost-based inflation. The markets are shaken and as a result, the value of your investments could very well fluctuate more than normal. 

The Role of the Brexit

Investors are also understandably worried about how the Brexit will affect their holdings. Unfortunately, there is no clear-cut answer here. Futures will instead be determined by whether a “hard” Brexit occurs, or a “soft” Brexit is the outcome. Many feel that a hard Brexit would represent the worst-case scenario, as this would lead to a sudden depreciation of the pound as well as to pronounced global market volatility. The other major point is that it is nearly impossible to predict all of the economic indicators that may or may not be affected by either a soft or a hard Brexit. Thus, many investors have adopted a watch-and-wait stance until more clarity is provided by Theresa May and her administration. 

The real question involves the types of assets currently in your portfolio. Those tied to domestic UK companies and valued in pounds could very well enter into bearish territory. Conversely, holdings backed by the dollar might gain ground (considering that it has increased in value during recent months). Currency traders should likewise be looking at both sides of the board, as Forex positions will be able to leverage a volatile market. 

Should You be Concerned?

It is just as important to highlight the fact that several unknowns could also impact your investments. Perhaps the most concerning involves the deterioration in relations between the United States and Russia. The risk of a geopolitical conflict or a war by proxy will weigh heavily upon investors and naturally, they will be keeping a close eye on such situations as they continue to evolve.

Although Trump and the Brexit are powerful players, many market makers and analysts have already taken some of their effects into account. Therefore, you are not likely to suddenly witness the proverbial bottom drop out nor will you see the markets reach entirely new levels of profitability in the near future.

Using cryptocurrencies to automate earnings

Claire James
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0
Using cryptocurrencies to automate earnings

Do you know how to build a passive income wealth that can automate your stream of money even while you are sleeping? It can be extremely difficult to achieve true financial freedom because of the lack of channels and resources a typical person may have access to. Even if you have a large amount of time available, choosing the right channel to invest can be a difficult situation too.

In the past, most people put their money in traditional investment mediums such as real estate, currency exchanges, the stock market or trust funds. But after the rise of popularity of cryptocurrencies, crypto trading has become the quickest and easiest way to rake in copious amounts of profits on autopilot.

Automate your crypto earnings

Here are some of the 2new emerging methods to automate cryptocurrencies trading. Most of these methods that are currently used by thousands of crypto traders around the world:

  1. Trading Bots

Trading bots are a new type of automating crypto trading tool created by full-time traders who wish to create consistent profits on a regular basis. Each trading bot is set of trade instructions, that when all conditions are met, will execute a buy or sell. Crypto trading bots are explicitly tuned for cryptocurrency markets due to their volatility, which is based on the developer’s educated programming on market trends. With a well-optimized trading bot, you can set it to execute your trades automatically without any intervention from you.

Some crypto trading bots such as Bitcoin Loophole are able to recognize pricing trends and learn the investor’s risk appetite and adjust its algorithm based on these parameters. These bots use machine learning and behavioral science to determine the best course of action in the trade.

  1. Lending Bots

Like trading bots, lending bots can be set and run automatically without the investor’s intervention. In some cryptocurrency exchanges such as Bitfinex and Poloniex, you are allowed to utilize their funds in their wallets and offer margin loans to traders on the exchange platform.

While traders benefit from margin trading opportunities, you can generate a healthy and low-risk returns on your investments (ROI). This is because margin loans cannot be cashed out from these exchanges. This means the exchange secures your funds and you don’t have to worry if the borrower disappears with your money.

Trader bots automate the lending process by analyzing the daily interest rates of the cryptocurrencies you are holding, then lends it out automatically on your behalf.

Is it safe to automate your cryptocurrency earnings?

These 2 methods are some of the easiest ways to earn money automatically using cryptocurrencies. While these bots are extremely easy to use, they do come with some risks, even though they are relatively low.

For example, lending bots can loan your funds out automatically, but they cannot protect you in cases where the exchange disappears or closes down.

You should manage your risks and expectations such as diversifying your investments on the Bitcoin Loophole platform. With proper risk management, you can be sure to be making a healthy stream of passive income for years to come.

Worrying About A Bitcoin Bubble

Claire James
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Worrying About A Bitcoin Bubble

The value of Bitcoin has really taken a huge leap over the past few years. After some early bad press attached to criminals using the coins, Bitcoin has started to be seen on its own merits as a rare technological advance that might actually upend the traditional way of doing things. Instead of relying on banks and other financial institutions to help us with our every financial move, we can use Bitcoin and eliminate all of that, dealing with people on a one-to-one basis without any meddling from a third party. It is an exciting prospect, and that is what has driven the stunning rise in the value of the coins, making many investors rich in the process.

Of course, the old adage says that what goes up, must come down, and in the case of Bitcoin, investors are leery that it could be reaching the point where it is forming a proverbial bubble that could pop at any second. If you wish to invest in Bitcoin but are concerned about these signs and warnings, you should consider the assistance of a robot trader such as Bitcoin Code to help you sort it all out and proceed with caution when investing in these volatile coins. As for the bubble, you first have to understand what constitutes it and whether or not Bitcoin’s rise really fits the model.

1. What Is It?

A bubble is a proverbial term used by investors and market watchers when an asset is being driven up in value without any real reason behind it. Investors talk about fundamentals, which are the core characteristics of an asset that make it worthwhile. A bubble occurs when the value rises in the absence of these fundamentals to back it all up. People who are excited about the rising price jump on board to catch the wave, further inflating the bubble. The ultimate fear is that the asset will be exposed for the hollow shell it is, and the price will plummet and damage all of the investors.

  1. Why Bitcoin Could Be A Bubble

The concern about Bitcoin is that people are investing in it without having even the slightest understanding of what it is and what it does. Investors are reading stories about others of their kind getting rich and don’t want to miss out. But they haven’t studied anything about Bitcoin to see if it deserves investment backing.

  1. Why It Probably Isn’t

The funny thing is that these late-coming investors might actually be stumbling into something great. Because Bitcoin is based on sound technology, known as the blockchain, that does indeed the remove for financial supervision on the part of banks and the like. And it is also something that makes sense for people looking to eliminate unnecessary fees, protect their identities, and generally take back control of their personal finances. That is a fundamentally sound investment if ever there were one.

There certainly could be a time when Bitcoin’s value gets inflated beyond all reason. But we haven’t approached that point by a long shot, and the bubble doesn’t look like it will burst, or even form, anytime soon.

The Advantages of Bitcoin Compared to Alternatives

Claire James
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The Advantages of Bitcoin Compared to Alternatives

Bitcoin was the first major player in the cryptocurrency boom that has recently been sweeping the world. It has since been joined by other coins, some of which act in a similar manner, others of which are intended to fill a completely different niche. That has left followers of cryptocurrency with a set of interesting decisions when it comes to deciding where to spend their investment capital. Some may prefer to go with Bitcoin, while others might be a bit more adventurousness and look into some of the alternative coins that are springing up everywhere.

Ideally, either choice would be a lucrative one, but, just as it rare for all stocks to go up in price in unison, so too is it unlikely that every single digital coin with surge upwards together. Investors have to be careful, and some prefer to do their investing with the expertise of a trading program such as Bitcoin Loophole helping them out. Choosing between Bitcoin and the so-called “alt-coins” may come down to your temperament as an investor, you short-term and long-term goals, and the way the winds are blowing in terms of news surrounding the coins.

  1. Bitcoin Sets the Standard

Cryptocurrency is, at the moment, an extremely volatile market, characterized by wild swings in value. Within that realm, however, Bitcoin is a bit more stable than the others. That’s because Bitcoin is the standard in the industry, and it is also on top in terms of its market share. The higher price of it means that it is less likely to undergo a shift that really damages your investment in one fell swoop, as can possibly be the case with the alt-coins.

  1. Room to Move

In the case of Bitcoin, it has already risen to an impressive level. As a result, even though it still has some leeway for growth, it would be hard for investors to make monumental profits off it if they are just getting into the game now. By contrast, many of the alt-coins can be bought for a relatively small price. If one of them should ever reach the same rarefied air as Bitcoin, it’s conceivable that you could gain massive profits.

  1. The Middle Ground

There are many coins outside of Bitcoin that might be a little younger and less expensive but have still established themselves over a solid period of time. These coins would rest between Bitcoin and the newcomers on the scale, and they could provide an excellent entry point for those investors who want a modicum of stability but still envy the potential for astronomic growth. Perhaps collecting a portfolio filled with these middle options, along with small exposure to Bitcoin and a dart throw or two at some of the newest coins on the market with promising potential, is a good way to balance out your cryptocurrency dealings.

It’s important to realize all of the options you have in the crypto world. In that way, you can decide if Bitcoin is the only choice for you, or if you’d like to sample some of the different coins on the market.

3 Types of Technology that Can Transform How You Do Business

Elliot
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3 Types of Technology that Can Transform How You Do Business

Technology shapes the business world almost as surely as consumers do. As technology changes, business practices change, companies become more efficient, and the businesses that fail to adapt to the new technology are often left behind. With new technologies entering the business world every day, it’s important to stay on top of the most relevant pieces of tech, and assess the potential benefits it can bring to your business.

While not every new technology needs to be adopted into your business, there are some that could feasibly transform the way your business operates. Here are 3 such technologies that are making a buzz in the business world. You may want to consider implementing them in your company.

Innovation Management Software: QMarkets

One of the biggest tasks that businesses are trying to tackle—regardless of their industry—is that of innovation. Everybody knows that innovation drives business success, but these days, innovation is happening at an astounding rate. It often seems that somebody is creating a new, major innovation every day. How’s the average company supposed to keep up?

The trick is ensuring that (1) you’re tapping into all potential sources of innovation for your company, and (2) you’re pushing those ideas through to implementation in an organized way. With this in mind, software businesses like QMarkets are born. This software neatly rolls up all of your innovation management needs into one handy tool that not only organizes your innovation efforts but drives participation as well.

Features of this software include:

  • Cutting-edge gamification techniques to drive engagement
  • Trend tracking to help identify common complaints and other patterns among your customers
  • Collaboration tools to help move ideas down the path to implementation
  • Idea campaigns that allow you to gather detailed feedback on a specific idea

Of course, these are just a few of the features you’ll find on this particular innovation software, but the full toolkit it provides is a comprehensive way to gather, analyze, manage, and drive innovative ideas within your business.

Webinar Tools: ClickMeeting

Webinars are hardly a new idea. Businesses have been video chatting and hosting webinars with partners and customers around the world for several years. But as businesses grow and technology adapts, the needs of both businesses and their consumers change. You’d expect the webinar tools you use to naturally adapt with your changing needs, but many of the established favorites have failed to do so.

Enter the new kid on the webinar block—ClickMeeting. This up-and-coming webinar software has some incredible features that too few of those “big name” webinar services offer. Here are just a few of them:

  • Total integration with platforms like Slack, Twitter, LinkedIn, Facebook, DropBox, and more
  • Interactive add-ons like a virtual whiteboard and instant polls and surveys
  • Simultaneous chat translation for easier communication
  • Pop-up CTAs to boost sales and engagement
  • Post-webinar marketing tools, including analytics, video editing, and more

The full list of features is too robust to go into here, but suffice it to say that ClickMeeting offers far more than a way to broadcast your webinar—it offers everything you need to turn that webinar into a sales-boosting, lead-converting marketing tool.

AR Devices: HoloLens

This one might sound a bit futuristic, but augmented reality devices could become a staple in the business world soon. While they’re gaining in popularity as gaming devices and a means of entertainment, the business applications for this technology are huge. When Microsoft unveiled their HoloLens a few years back, they pointed out some of these possibilities.

Imagine being able to show your client a 3D rendering of the building you’ve designed for them, using immersive augmented reality instead of just a sketch and blueprints. You could use these headsets for greater collaboration across locations, or demonstrate how a product works without having the product on hand.

Studies have shown that a significant portion of the population processes information far better when something is demonstrated, rather than described. As AR technologies like HoloLens continue to develop, it’s only a matter of time before they become a vital sales tool for many businesses.

 

While not every new technology is going to be a good fit for your business, these 3 new additions to the world of business technology can have applications for virtually any company, regardless of size or industry. So, if you haven’t introduced them in your company, it might be time to start thinking about doing so.

How to invest in international real estate

Elliot
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How to invest in international real estate

Real estate is one of the most stable and highest return investments you can make.

As with any investment, there can be market fluctuations, and no investment is 100% secure, but real estate is comparatively low risk and high reward. Investing in a tangible asset (land and buildings) means that even if the housing market drops, your real goods don’t change and can never plummet to the same extent as stock market trading.

If there’s a downturn in housing in the region in which you own real estate, you simply wait it out, and even if you choose to sell before the market picks up again, chances are you won’t lose significant money on the deal, and may simply make a modest amount instead of a dramatic gain. The only real way to lose on real estate investing is if assets in the region of your real estate investment are seized due to a radical change in government, or a disaster damages the physical structures, and you can easily manage that risk with insurance.

International real estate also has the potential to provide rewards in other ways. After completing Entry Education’s real estate licence nsw course, you might invest in an area that you travel to frequently or enjoy taking holidays in, saving yourself the cost of accommodation or invest in rental property. You can rent out the real estate as a short-term holiday rental or longer-term lease to double your gains. This is true of both residential and commercial investment.

Use these five tips for investing in international real estate to get started:

Research the market

You need to understand the real estate market in the region you want to invest in, including anything that could have an impact on the value of your investment.

If you don’t already have an idea of where you want to invest, you might start with some research on which markets have stock available within your budget and offer the best-projected return on investment. You’ll also want to consider how attractive a given market is to renters, holidaymakers or your family if you’re considering occupying or renting it as part of your investment strategy.

Next, consider the regional environment. Are storms, floods, wildfires or other natural disasters a risk? Check the political environment for any red flags, such as agitation among locals or popular or political resistance to foreign investment. Is an increase in foreign buyers’ taxes or surcharges on the horizon? A real estate agent who specializes in this area can save you some time and energy in research, but it’s important to understand your market and investment, regardless.

Consider secondary income streams

Decide what kind of investment you want to make before starting the hunt. Potential income from holiday rentals or leasing will change your equation and open up higher value investment opportunities, but it’s up to you whether or not you want to take on property management duties, outsource them or avoid them altogether. Some foreign property investments are also available as joint ventures, where you band together with other buyers to share in the cost and reward.

Determine on-going investment costs

It’s critical to understand the total investment cost before jumping in. This is less of a concern if you’re investing in a group stock based on real estate, and more important if you’re making a solo or private investment. International regulations, tariffs, taxes and other unexpected fees and expenses are likely to be different to what you are familiar with at home. Consider ongoing costs for maintenance, repairs or property management to protect your investment.

Work with professionals

Especially for those new to international real estate investing, working with experienced professionals can help reduce risk and increase your awareness. Co-founder of Swan Holdings Group, Brian Weal, brings specialty real estate development and investment experience to his financial advising services. With a focus on mid to larger-sized developments and social housing, they emphasize experience in the market, extensive market research and the use of strategic planning tools to assure effective investments. Collaborate with experienced financial advisors and real estate investment specialists to make the most of your investment and avoid missteps.

Get insurance

If you’re investing in real estate on your own, prioritize obtaining and maintaining your insurance coverage. If you’re in a joint investment, make a point of asking about and confirming proper coverage. There are few things that can truly damage a real estate investment, but if something does happen and you’re not covered by insurance, you stand to lose significant sums.

Investing in international real estate should be done with caution, but the potential rewards make it well worth the effort. Research and consider working with experienced specialists to make the most of your investment and avoid costly missteps.

How to Reposition Your Crypto Portfolio to Maximize Profits

Claire James
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0
How to Reposition Your Crypto Portfolio to Maximize Profits

One of the newest asset classes for people who have a little bit of a futuristic attitude toward their investing in cryptocurrency. The first cryptocurrency was Bitcoin, which emerged from nowhere to take the technological world by storm as it provided people with a new way to make and receive payments. In its wake, many other types of alternative coins started to crop up. What you’ll find now when you look at the cryptocurrency market is a bushel of different coins, many offering different applications of the blockchain technology that drives Bitcoin. If someone wished to do so, they could build their own investment portfolio using these coins.

It can be a somewhat complex part of the investment realm, something that you’ll find if you try to dig into the specific characteristics of the different coins. Some people might prefer instead to simply fund a trading account on a site in the manner of Bitcoin trader and allow for the robots to do the work for them. The cool thing about it is, if you have a little mathematical and statistical savvy, you really don’t need to know everything about every coin in which you invest. Just pick a few and then practice a little repositioning of assets when you need to do so. Here’s how to make it happen.

  1. Make Your Choices

Perhaps the best thing you can do in terms of cryptocurrency investments is to pick a bunch of different coins that are among the ones with the highest crypto market share. These coins, to have reached that lofty status, must have already proven themselves worthy and have likely been around a while. That will give your portfolio some solid stability to begin. However, many coins you buy, take that and divide it into 100. That will let you know how much of a percentage of your total investment capital should be in each.

  1. Making Adjustments

Now what you need to do is watch where the investments stand as time passes. If there is a particular coin that has gained a great deal of value, you should see if you can sell some of it to get the percentage back to the original amount. You should also be prepared to buy more of a coin that has dropped in value. This takes great discipline, as it might seem difficult to sell off winners and buy losers. But this strategy will always keep you buying low and selling high.

  1. Percentage Fudging

If, as time goes by, you feel like you want to scale it down and put more of your capital in certain coins while bailing out of others, just change your standby percentage. By using this re-positioning technique, you don’t need to worry about news related to the various coins. You can simply do the math and watch the portfolio grow with time as a whole.

Repositioning is a strategy that investors have been using with stocks for years. Cryptocurrency investments can work in much the same way.

 

What Are the Ramifications of Regulation of Bitcoin?

Claire James
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What Are the Ramifications of Regulation of Bitcoin?

It is possible that Bitcoin will be able to continue as it has been since it first was created about a decade ago, as a kind of outpost for those who want their financial lives to be under their own control and not beholden to big banks and financial entities. At some point, however, maybe not soon but certainly on the horizon, the Bitcoin phenomenon will come to a head. It will either surge past all opposition to become the line way that people do business, it will fade out of existence, or it will come to some sort of alliance with the traditional financial institutions already in place. It is that third possibility that might be the most realistic, even as there are a lot of unknowns surrounding how all of that might work.

Investors looking down the road a bit certainly want to know Bitcoin will stand up as an asset should that eventuality finally occur. Bitcoin is already a difficult enough investment to grasp, which is why many people rely on artificially-enhanced trading programs such as Bitcoin Loophole to do their work for them in that asset class. Let’s play the hypothetical game and imagine that Bitcoin and the banks somehow work in accordance with each other. How will that look and what will the ramifications be for the investment value of Bitcoin.

  1. An Uneasy Alliance

It is a fascinating possibility to try and wrap your head around because the two entities seem to be diametrically opposed. Bitcoin is all about a lack of regulation and the freedom of average people to conduct their financial transactions as they see fit. The banks and credit card companies’ whole point of existence is to attempt to facilitate (some would say butt into) this process. But there are banks that are slowly incorporating blockchain-like features into their business, so they seem to understand that the public’s taste for Bitcoin-like financial freedom will not soon disappear.

  1. Would Bitcoin Still Be Bitcoin?

The major fear for investors, if the banks were able to come to terms with Bitcoin and perhaps even incorporate the coins into their own operations somehow, is that Bitcoin would lose its essence. A mass exodus from the coins by true believers of the revolution that Bitcoin was supposed to instill would be possible. And a precipitous drop in value might occur.

  1. The Stamp of Approval

The flip side of this scenario relates to the people who have been hesitant to even consider Bitcoin as a part of their financial lives. These are the kind of people who might be scared off by the outlaw status of Bitcoin. If the banks allowed Bitcoin into their operations, it might give it, in the eyes of these late-comers, an air of legitimacy and could herald in a whole new age of investors in the coins.

Conclusion

It seems as if there will be positives and negatives to the value of Bitcoin if it is subsumed into the larger financial picture. If nothing else, some of the volatility would conceivably disappear, and it would be a somewhat safer bet to be an investment property well into the future.

Getting Real with Your Side Hustle: Turning Your Gig into a Legit Biz

ABC Staff
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0
Getting Real with Your Side Hustle: Turning Your Gig into a Legit Biz

There’s more to a business than having a website and social profile. This is despite what you’ve read with these “side hustle” blog posts you’re seeing everywhere. These two items are fine if you’re selling services or one or two products. But, even then you’re not truly operating within best practices.

What happens when your effort meets an IRS audit? What happens when a customer got injured at your mom and pop shop? Or, what happens when you lack essential privacy policies?

These little side hustles become a troublesome experiment.

What do you do for the startups? Or, really businesses of all sizes? You invest in the right set of tools and services — the investments that’ll help smooth the operation and turn it legit.

Tools & services like:

Payment processing

There’s no reason to reinvent the wheel with online payment solutions.

There are hundreds of reputable companies servicing online payments. You’ll find aggregate companies combining popular payment types, too, for better integration. This lets you accept orders from all over. And, without restrictions from your customer’s preferred payment method.

Why use these payment services? They provide:

  • Online security when processing transactions

  • Include easy embedding to quickly set up without heavy configuration

  • Extra features to improve sales and customer satisfaction

These companies have strict, legal compliance. Their application of best practices eliminates the potential repercussions if you had decided to use an in-house shopping cart.

Branding

Social media is free and an easy way to build brand awareness. Though it’s likely you’ll want to explore the market by expanding to physical locations. Or, not spending all day doing the social to stay focused on research, development, and operations.

This is the time to hand branding to designers and its outreach to marketing professionals.

What do you pass to these professionals?

  • Signage, brochures, and business cards

  • Banner ads, media kits, and documentation

These professionals will rework your amateur design. They’ll create a congruent look & feel with your branding to build hype and market impact. Then, marketers will apply these items to all own offline/online properties to generate better brand awareness.

Logistics

Launching an online store works well while sales are low. But, what happens when you’re taking on 1,000+ monthly orders? What about 10,000+ orders? Not only are you lacking storage space but you’d have no time to run the business since all of it goes toward picking, packing, and shipping!

What do you do? You use fulfillment services.

Companies in this area include:

  • Fulfillment by Amazon

  • ShipWire

  • VelocityShip

… and a dozen+ reputable services.

You ship inventory to these companies and they handle the logistics. This frees you from warehousing and passes the task of shipping in their hands — allowing you to focus on the business stuff you enjoy.

A fulfillment service works for businesses of any size. These services supplement talent and/or help get the business in new markets by reducing international shipping costs.

Talent

There’s a conundrum with our shift to e-commerce:

  • We can start anywhere and reach anyone

  • We may become restricted from a lack of local talent

Imagine your dismay of limited growth because you’re in a small town. Options could include cutting back to manage demand or invest heavily in moving to a better location. The latter isn’t always possible.

There are ways to grow without these restrictions:

  • Freelancing —  Handles design and development

  • Outsourcing — Handles customer service and legal

  • Automation — Handles routine tasks

Consider using platforms like UpWork or head-hunting on LinkedIn for quality talent. This removes most (if not all) restrictions you have when shifting from a side gig to a legit operation.

It’d be nice if operations could stay agile and lean throughout the startup process. But, things change and businesses grow. Before long, they’re in need of the essentials to operate competitively.

Top tips for renovating a house on a budget

Elliot
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0
Top tips for renovating a house on a budget

It’s been years since your home was last renovated. Maybe it never has been. As a result, it’s started to feel antiquated, and the space isn’t being used as well as it could be. So you’ve decided it’s time for it to undergo a long overdue renovation. The problem is, you’re concerned that renovating your property will cost you an arm and a leg, and you may not be able to revamp everything you want to. But you need not fear. By following these tips, you should have no problem renovating a house on a budget.

Consider being your own project manager

Whilst you could decide to splash out vast sums on hiring a project manager, it may be worth doing it yourself. Only do this if you think you’re up to the task and don’t underestimate the time and effort it will involve. Any mistakes you make could eat into your budget. However, if you feel confident enough to manage your own project, you will not only save money, but will also be in complete control of what you spend on labour and materials. This leaves you free to decide which jobs you want to delegate to others or do yourself.

Handle DIY jobs you feel confident with

Instead of hiring tradesmen to carry out each job, rolling up your sleeves and handling certain aspects of the renovation work yourself is another surefire way to cut costs, especially with great prices on materials from Simply Plastics. How much you do depends on how confident you are in your DIY skills, and some tasks—such as plastering or electrical work—are usually best left to the professionals. However, doing simple tasks like painting and tiling can save you hundreds—maybe even thousands—of pounds. According to HomeBuilding, tiling a bathroom can take three days and cost up to £800. If you have the time to spare, doing it yourself will cost far less.

Prioritise security

Sometimes renovating on a budget is about investing your money in the right places. Having a robust security system will save you money in the long run; security experts Banham note that having an insurance approved alarm system, for instance, can help you make savings on your home insurance policy. This is even more pertinent in the face of rising home insurance costs, with policy premiums increasing by 8.5% in 2017. In addition, by investing in professionally-installed, insurance approved security measures, you save money that you would’ve spent had you been burgled due to having substandard protection.

Get multiple quotes

It’s never a good idea to just acquire the services of the first tradesperson you speak to, especially when it comes to bathroom renovations. The prices quoted by various traders can vary by hundreds of pounds, so consumer specialist Angie Hicks recommends that you get at least three quotes for each task before hiring somebody. As she points out, “You have to arm yourself with enough knowledge to make an educated hiring decision. If you only talk to one contractor, how will you know if you’re getting the best deal?” You also need to make sure you get recommendations from professional sources and bear in mind that, although you want to save as much money as possible, the cheapest quote is not always the best value for money.

Research, research, research

Similarly, instead of just going to high end stores and buying the first new cupboard, lamp or paint bucket you see, make sure you research thoroughly before making any purchases; you’ll be pleasantly surprised at the savings you can make. Take advantage of second hand furniture shops, sites like Gumtree or Preloved, or even charity shops to get more bang for your buck on furniture and materials.

Remember that your budget will change

This might sound obvious, but you can’t simply work out your budget and trust that a constantly-evolving project will remain within it. It is likely that there will be added costs that you didn’t factor in along the way, or extra renovations that you didn’t realise you needed when you started. You therefore need to be extra careful that your renovations are staying on budget throughout. If something does cost more than you intended, factor this in and try and make up the cost elsewhere.

On the other hand, if you do save money on something, don’t immediately rush out and spend it on expensive new materials you don’t really need. Instead, save your cash and either use it as part of a contingency fund, or save it for the end of the project once the main costs have been expended. This will then enable you to make any final changes that you otherwise might not have been able to make.

Follow the above tips and you should be able to successfully renovate your property no matter how tight your budget.

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  • bitcoinBitcoin (BTC) $ 109,088.00 0.25%
  • ethereumEthereum (ETH) $ 2,562.15 1.31%
  • tetherTether (USDT) $ 1.00 0%
  • xrpXRP (XRP) $ 2.24 1.67%
  • bnbBNB (BNB) $ 658.74 0.35%
  • solanaSolana (SOL) $ 152.57 1.69%
  • usd-coinUSDC (USDC) $ 0.999902 0%
  • tronTRON (TRX) $ 0.286152 0.95%
  • staked-etherLido Staked Ether (STETH) $ 2,562.28 1.2%
  • cardanoCardano (ADA) $ 0.586985 2.93%
  • avalanche-2Avalanche (AVAX) $ 18.41 3.57%
  • the-open-networkToncoin (TON) $ 2.81 3.57%
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