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Showing posts from September, 2015

Tax-free shopping in the UK

You can actually purchase some goods in the UK and get the VAT charged on your purchases back. You can enjoy this if you meet any of the conditions below: 
* You live outside the European Union normally and you are just visiting the UK for a short period.
* You are an European Union resident and you are planning to leave the EU for 12months or more.
* You are a non-European Union resident but you study or have a job in the UK and you are planning to leave the European Union for 12 months or more.
It is good to note that some goods are not entitled to VAT returns they include:
- Goods you made use of in the UK - Cars - Charges from services provided - Gold that weighs more than 125gram - Goods sent to another country for business transactions. These goods must be worth more than £600. - Goods that require an export license to transfer them out of the country - Gemstones (Unmounted) - Goods you purchased via the internet.
In order to be able to get your VAT refund you need to obtain a VAT 407 form f…

An estate sale could make you thousands of dollars

An estate sale is an event where a individual sells his/her belongings. It could also be a family. This sale could occur as a result of wanting to move from one country to another or when cash is needed. Based on a research, some individuals have made money from estate sales. This is because, the items sold are usually below their market prices. When you attend an estate sale only items of real value should be purchased such as appliances, artwork, cooking utensils, dishwares, furnitures, silverwares and others.
After purchases have been made, they could be sold on amazon, ebay, gumtree and the likes. I was informed that an individual went for an estate sale, bought an item for $5 and sold it for $25 on ebay, repeated the process and ended up making $14,000 from it in 6 months. I do not know how much costs he incurred in all, costs could include transportation fees, percentage paid to ebay and the likes, however if he only incurred $5 and sold the items for $25, I find it unacceptable.…

Calculating the UK Income Tax

Employers deduct a particular percentage every month from your salary or every week from your wages based on your taxcode. However, they do not pay the HMRC (the body responsible for taxes in the UK) till the end of the tax year. At times taxes could be overpaid or underpaid. When taxes are underpaid you will be required to pay the money  back and when taxes are overpaid you will get your overpaid amount back at least two months after the end of the tax year but it could be more. It feels good to get money you did not expect, however, it could be spent lavishly if you had no plans for the money. You can plan how you will spend the money if you know what you will be expecting.
For your income tax to be calculated you need to deduct your personal allowance from it before applying any rate. The personal allowance in the UK is £10,600 and it increases every year. This is the part of your income that is not taxable. For example, if you earn £30,000 in a year the only amount that will be tax…

The Impact of Colours on Purchases

It is known that colours have a psychological effect on the emotions and behaviour of human beings. For example if you see a drink that is blue in colour, you will most likely not drink it. But if a drink is orange in colour you will most likely drink. It works that way with other products as well. 
Black: When a product's pack is black in colour it exudes luxury. Some business owners try to make their product appear luxurious by making use of a black pack so the product will appear to be of high quality, when really its of low quality. That way they will be able to charge higher prices. Reviews will be good when you want to pay for a premium product. Researchers say it also makes impulsive shoppers buy more.
Red: This colour catches the attention of everyone, that's why it is used to denote danger or to make individuals stop. Researches say it creates urgency, thus giving an individual a urge to buy the product. So take caution and do not let red make you buy more than usual (s…

How to deal with debt collectors/creditors

Debt should only be taken for something that will yield you income, debt can also be taken if thats the only way you will be able to sustain yourself. I always say that you should always pay your debt as soon as it is due but I do know that in some situations an individual or an organisation might not be able to pay their debt back due to financial difficulties. When this occurs do not avoid the debt collectors or creditors cause when you do that they might think you have the money and do not want to repay the debt back. This could lead them to start taking actions against you, as such you should let them know about your financial difficulty. 
Before I go on, I am going to let you know actions that debt collectors/creditor are not allowed to do. First of all, always make sure you do not deal with interest, it is bad for you. They cannot call you before 8am and after 9pm except you have given them the permission, they cannot call you when you are at work once you tell not to do so, they…

How to diversify your investment portfolio

Everyone should diversify their investments this is because investing in only one type of asset and market will make your investments highly risky. Diversifying your investments will minimize your risk to the lowest, thus the losses made from one investment will be eliminated by the profit from another. There are various types of assets you can invest in; First of all, save your halal bank account, share (halal), properties (halal), gold and others. The money you save in a halal bank account should cover one year of your living expenses in your bank. 
After you have saved enough cash, you can now invest in other assets. The percentage you normally save should be used to invest in other assets. 30% of the money should be invested in gold, 30% should be invested in shares (halal) and the remaining 40% should go into savings (halal) that will be used to acquire a property when it is large enough to buy one. When investing in shares you must not only buy the shares of one company or one in…

The saverholic

It involves minimal risk saving your money. I always say first save your money in an halal account, once it has reached a particular threshold start investing. The saverholic only saves and saves and saves and cannot afford to take risks. Because, all you do is save money. Invest in other markets, the higher the risk the higher the return, diversify your investment portfolio. 
All individuals that have achieved financial growth of great heights are risk takers, and they know that some risk might turn out negative but they know is all part of the process. They learn from it and apply it to the next risk they take and eventually they become experts at the risk they take. Then they end having 80% success rates which is good enough for me, I do not know about you.
Halal means anything lawful Islamically.
Keep checking my blog regularly. Cheers!

The suave look (Fashion) and Finance

I wrote about packaging in a previous article, it is not just about your products, it is also about you. I am going to talk about the way you look affects your finances. Two guys have been invited for an interview, they are both qualified for the job. One arrives in a gorgeous bathroom slippers (smiles). Another guy comes in a nice shirt, all tucked in, wearing nicely polished shoes. They both had wonderful things to say during the interview, so they both have equal chances. Of course, the way the former was dressed will make them pick the latter over him, thus improving the financial status of the latter. The way you look has an impact on the opportunities that will come your way. 
I know that individuals financial capabilities vary, so it is not really about the most expensive clothes. I personally think buying very expensive clothes is a waste of money. However, I won't say go for cheap clothes, just go for quality. Here are the tips you should always adhere to
* Do not wear dirt…

Changing the taste of your product might be a bad idea

The Coca-cola company is a multinational company that was set up John Stith Pemberton (a pharmacist) in 1886. Their first product which is commonly known as Coke  has had a great global presence since 1886 till date. If coke were to disappear from the market it will definately affect most people. 
In 1985, after 99 years of continuous success, the managers at Coca-cola decided to change the taste of coke. Changing the taste of a product that had worked for almost a decade amuses me. Yes, it was known that they were losing shares to Pepsi, changing their product totally was a no no. A similar product could have been introduced, like today we have Coca-cola vanilla flavour, prices of their product could have been adjusted, promotions could have been carried out, the container of the product could have been made more attractive but no they went for the taste.
They carried out their research, got a focus group to find out if the new taste was better than the former, they got a postive resul…

Marketing tips for launching a new restaurant

Setting up a new restaurant could be a challenging tasks, cause there are numerous restaurants that already exists. As such, a marketing strategy that will help you achieve success must be developed. To attract customers the following must be taken into consideration. * The food sold must be of good quality, it must taste good and the way it is be delivered must also be of high quality. The menu list must also be attractive.
* The prices of the food must reflect the value of the products (food and service) provided in the restaurant. Thus, a restaurant that sells expensive food must leave customers feeling very very good. The quality of their food and their services must be better than those of restaurants that sell cheaper food.
*The staff whose roles are to deliver or serve food, wait tables or cook meals must be nicely dressed and they must treat customers nicely. Selling the food comes with also providing a service. Customers could leave a restaurant whose food taste nice but their s…

Great businesses that require little capital to start

Hello readers, I decided to write about businesses that require little capital to start. today they are:
Baking Cakes
Cake that sounds delicious (eat cakes once in a while). You could take a short course on baking cakes. You can bake cakes for weddings, birthday parties and others. Individuals make good money from baking cakes and it requires little capital to start.
Grocery Shops
A grocery shop could be opened with minimal capital, it depends on the scale you are willing to take it to. Start out litte and start to grow the business

Web Designing Some individuals attend courses to develop skills on designing a website. However, you could develop skills by practising online. A huge amount of money is made from designing websites.
Dry Cleaning
This is another business that could yield a lot of money. You only have to purchase laundry and dry cleaning equipments. You should start out small and then grow bigger.

Event Planning
This also require little capital to start. You do not neccessarily have …