How to raise money to start your own business

by Mrs Money

Self-employment in the UK is at the highest level since records began and job uncertainty and low wages is prompting more people to ditch conventional employment in favour of starting their own business. If you fancy turning your dream of becoming your own boss into a reality but you don’t have the cash to get it off the ground, here’s a few tips that might help you on your way.

1. Look at ways you can save money

It might surprise you to learn this but it is possible to save money simply by cutting back on your outgoings. You can do this without earning any extra money if you are stringent and frugal with your approach. Make a list of all your outgoings such as food, insurance, travel costs, leisure activities, phone and internet costs etc. Cut your food costs by eating out at restaurants and cafes less, shopping in cheaper supermarkets and swapping ready meals for homemade dishes. See if you can get better deals on phone or TV packages and cut your travel costs by walking as much as you can or asking friends or family to help with lifts. It isn’t forever, it’s just until you have saved enough money for your business.

2. Think about things you can sell

Most people have a few things around their homes that they don’t need, are unused or are simply taking up space. Have a good look through your draws and cupboards to see if you have anything you could get rid of. Clothes, computer games, electrical equipment. You can sell them on one of the online selling sites or by setting up your own shop ata local car boot sale. You might be amazed how much you can make by selling your unwanted stuff and it is also a good excuse to get rid of some clutter too. If you have a car, could you sell it and buy a cheaper one? If it is a gas guzzler could you replace it with a more efficient model?

3. Apply for a loan

If you have done all you can to raise money to start your business and still don’t have enough, then it might be time to apply for a loan. To approach lenders you will need to have a solid business plan, detailing how much everything will cost, where you will get your equipment/stock from and how much money you expect to make. It is worth making this comprehensive so that no stone is left unturned when it comes to costings and profit margins. If the bank refuses to give you a loan or you have bad credit then there are other options. Some people use their credit cards as a short term option and others use loans with a guarantor
to help kick start their new company. You will need a friend or family member to guarantee this kind of loan for you but while they are usually more expensive than bank loans, they can be easier to get.


Tips For Saving Money

by Mrs Money

Living in this world where “future is bleak” for most economies only those with unique abilities will survive will succeed. It has become a real survival of fittest competition. The competition is about being able to thrive in dire economic conditions. An example of unique abilities is being able to use money sparingly. An individual has to be principled enough to be able to save money.

How To Save Money

1. You should always make it your habit and enjoy saving money. To do this you need to change the way you use your money. This idea will not be a welcome idea to all those who love spoiling themselves too much. It is also undeniable that it is too much spoiling of “self” that spends all your money. Try by all means to stay in the limit of the essential things in life. That is those things you cannot do without. Things that are your needs. Do not give in to your wants each and every time. Wants are those things that you can do without. In situations where you will feel that you badly want something it is alright to spoil yourself, not always but once in a while.

2. Do not be an extremist in saving your money. This will quickly bore you. The result being that you will not like the idea of saving money again. Try and not be too hard on self. Saving money does not necessarily mean going for the cheapest and low quality goods. Look for the stuff you need and buy every day. But this time find relatively inexpensive prices than the ones you always buy at.

Finally, this idea works well if complemented by a budget. It will help you see how much you spending and what unnecessary costs need to be cut off. A budget will also help you rein in costs like casinos online gambling. With a budget you can allocate a fixed bankroll for you real online casino gaming.

Remember to gamble responsibly. Although online and land-based gambling is just for entertainment for most people, some do get addicted. If you feel like you might have gambling problems, seek help as soon as possible. You can visit American online casinos, they will advise you on how to get help for a gambling addiction. You can also view some of the best online casinos reviewed by them which hold

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    Welcome! I'm Mrs. Money and I lead a frugal, simple, and debt free life on a modest income. I make money online to help support our family. I believe in saving money, living green, and enjoying life!

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