Credit Cards are often given a bad reputation and associated as being bad, but did you know credit cards can often be a useful way to help you manage your finances and save money?
First of all lets talk about interest! A lot of the reason credit cards have a bad reputation is because of the interest that they charge, which means you often can end up paying back a lot more than you spent. However there are now so many credit cards that offer 0% deals that no one should be paying interest on a credit card.
Not only are there cards that you can get that offer 0% on purchases you can also get cards that offer 0% on balance transfers. What this means is if you currently have a credit card and you are paying interest on the balance, you can transfer it to another credit card to stop paying interest, which will allow you to pay off the balance much quicker!
Another way you can leverage 0% credit card deals is to use them to purchase car insurance. Car insurance can be expensive and its often easier to pay monthly if you can’t afford to pay upfront, however when you pay monthly you often end up paying more money out in the long run. So what can you do about this? Well if you get a 0% credit card and use this to pay the annual cost of your car insurance, then take the total cost of the insurance and divide it by 12 month and set your credit card repayments to be equal to this you can still pay your car insurance monthly but get a much cheeper rate.
Heres an example
Lets say your car insurance annually is £500, but if you pay this monthly its £50 per month. The monthly option works out at being £600 per year, which is an extra £100! So if you get a 0% credit card, use this to pay your insurence annual cost of £500 then repay £500/12 which is £42(rounded up) per month, you save £8 a month on your car insurance which adds up to £100 saving per year!
Shopping can be expensive, but don’t pay more than you have to. Heres our biggest tip to save money when shopping.
Have you ever noticed the price tags in supermarkets contain more than just the price.
Not only do these tags tell you the price but they also tell you which item is best value.
The part of this price tag that tells you the cost per kg, g, ml or l is very important. You will often find that this can save you lots of money. For example lets take chicken as an example.
If you go to Asda now you will see lots of different packets of fresh chicken.
This shows 500g of diced chicken for £3.67 and 250g diced chicken for £2.50. It may initially be unclear which one is the best value, however you can also see that the 500g is £7.34 per kg and the 250g packet is £10 per kg. This means the 500g packet of exactly the same chicken is more then £2.5o better value for money!
The best part is if you do this check for everything you buy it can really add up over the number of items and the number of shops you do and save 100’s of pounds every year!
So you’ve started a blog, written a few posts and gained a small following. Whats next? In this article we will explain a number of different methods you can use to make your blog into a passive income source.
The first and most simple way to make money from your blog is to include Google ads on your blog pages. You can do this very easily, signing up to Google is a simple process and can be done using a new or existing Google account. You do have to go through the approval process, so make sure your site is regularly updated, uses good English and has lots of interesting posts that are viewed.
2. Affiliate Schemes
Another way to make money from a blog is to use affiliate schemes. This is covered in another post, but overall the idea is you can sign up to sell services for other companies and receive a commission for getting people signed up to their service. They provide you with links and special content to use to help you attract customers to their business and you get a commission if they sign up. You can use this content on your blog if its reverent to your content.
3. Product Reviews
You can feature reviews on your blog about products relevant to the topic of your blog. Some companies may approach you to ask for these or you can approach them and ask if they would like you to review their product for a fee. You can also use this to promote products your selling on your Shopify store. You can read more about Shopify stores in our article here.
Regular savers accounts have been around for a long while but have recently become more attractive with interest rates being low, but are they really as good as they seam.
You may notice that with regular savers the interest rate appears to be much higher than most other savings accounts rates. So how is this possible.
Well it’s very clever wording that allows banks to advertise in this way. When they say you are getting 5% what you are actually getting is 5% paid on the balance of the account calculated monthly. What this means is if there is a similar account offering 5% but allows you to pay a bulk sum in you might be better off.
Here is an example of the interest rate of a 5% regular saver.
So overall you earn £81.25, which is just over 2.7% over the year.
Therefore if you were to invest the full £3000 in an account that offers anything more than 2.7% you will be better off.
Now not everyone will have the £3000 up front to invest, so its always best to work out the best option for your personal circumstances.
Additionally a lot of the regular savings accounts also stop you from accessing your money or at least you will lose your interest if you need to withdraw money so its always worth checking the terms and conditions to see if they fit your personal circumstances.
Oberlo is a great service that helps you easily publish products from Ali express, an online Chinese retailer.
Oberlo allows you to search through Ali Express to find products you want to sell on Shopify and then import them directly into your store no fuss! You can set your own markups on how much you want to make on each product and choose to set a specific penny price.
You can even semi automatically order the products your customers order using Oberlo!
All of this makes setting up a Shopify online store with drop shipping very easy.
Find out more by watching the video below or following this link.
The process of attracting prospective customers and raising awareness of a product or service.
Marketing is one of the biggest source of income online, all it involves is reach the right people online and introducing them to a product or service.
By doing this you can make money and there is many ways that you can get started very easily.
One of the main ways you can use marketing to make money is through affiliate schemes. For the majority of internet services you can find an affiliate scheme that you can sign up to you and get started straight away.
For those of you who aren’t aware of what an affiliate scheme is allow me to explain.
All companies want to attract new customers, one of the ways they do this is through affiliate schemes, this means that you get a customer to sign up to their service using your special link and you get paid commission for giving them a new customer. It’s that simple!
Some affiliate schemes even provide content you can use on your site such as banners or images which help to attract people to use your links.
There two ways of finding affiliate schemes, you can either search for <company name> affiliates using a search engine or you can sign up to CJ affiliate which is a company who provides access to thousands of affiliate schemes. You can simply search the site and find the affiliate schemes you want to use and get referral links and earn money.
Another way you can make money with marketing is by starting an online store, you can find out more in our article about it here.
Starting a blog can be a quick and easy way to make some money online.
The easiest way to get started with a blog is to get a WordPress account, once you've signed up and registered you can get to work straight away!
You only need to dedicate a small amount of time a day to keep your blog growing and gain following.
The best thing is you can start a blog about literally anything from your day to day life to puppies, so long as you can keep it updated with regular content and engage and interest people to read what you write you can use it as the topic for your blog.
Once you have a blog started the best way to promote it is through your social media account. Tell all your friends and family to share it and read it and you instantly have people reading your blog. Then you just need to get people to return by keeping your content up to date, fresh and exciting.
The next step after you have built a following is to monetise your blog, you can learn more about this in our post here.
The internet is full of advertisements at the moment and you can utilise many of the different services available to help you market your products or services to customers. Below is a few that we think are useful to get you started.
Facebook has over a billion users a day! Thats a huge audience that you can promote your product too. Facebooks Business Manager Adverts facility also allows you to target specific demographics that are suitable to the product you are marketing and set a daily budget for how much you want to spend targeting these people.
Google is one of the biggest advertisement platforms on the internet. Google will provide you with the ability to target potential customers based on specific keywords and specific countries and like Facebook set a daily spend amount for your advertisement.
Asides from the normal advertisement platforms provided on social media sites another method of advertisement is through paid posts. You can contact pages that have lots of followers who you think would be interested in your products and pay them upwards of £50 for them to do a post promoting your product.
So you may have heard of drop shipping, but what is it? Allow me to explain.
The typical business model of a shop is a store has suppliers who they buy products from in bulk and then sell to their customers.
This has a few downsides such as having to spend money up front, the risk of not selling all of the products and the costs of storing them. Drop shipping removes these issues and allows you to only order the stock that you have sold.
So how it works is a you advertise a product your supplier sells, when a customer purchases a product you order that product from the supplier and give them the customers address and they ship it directly to your customer. Simple right!
This way you don’t have to worry about ordering stock that won’t sell, you don’t have to risk your money up front in stock and no storage fees.
If you have a Shopify store theres even an app you can get that allows you to directly integrate drop shipping into your store which takes away all of the hassle of writing descriptions for the products you want to sell. This leaves you much more time to focus on attracting customers to your store.
This App is called Oberlo, it allows simple and easy integration with your Shopify store and drop shipping suppliers. Find out more in out article here.
To learn about different methods of attracting customers to your store read our post on different marketing methods here.