All posts by Paul Spencer

Lagom for Personal Money Management: More than Just a Passing Fad

We’re not sure exactly what the attraction is regarding Scandinavian lifestyle buzzwords, other than that they provide a hook for retailers keen on selling us stuff that we might not really need. (We probably just answered our own question there.) Be that as it may, last year’s buzzword and lifestyle trend was “hygge”, a Danish word centering around the concept of cosiness and making the most of the moment; translated into consumer-ese it had something to do with piles of blankets, hot chocolates, scented candles and the like. The Scandi trend for 2017 is altogether different and not nearly as sensual: it’s known as “lagom” (“la” as in “bar” and… read more >>

Are You a Well-Prepared Entrepreneur?

Personal ambition is highly individualized, so fulfillment, satisfaction, and monetary rewards mean different things to different people. Among the many productive approaches, some motivated earners eschew conventional employment in favor of entrepreneurism, striking out on self-inspired commercial ventures. And for every risk-taker willing to gamble on self-employment, there are many others who’ve seriously considered the possibility – perhaps even wading-in on a small scale. But have you ever dug deeply into prospect, accounting for everything it takes to compete as a modern entrepreneur? Start-ups and other business ventures call on principle players to wear many hats. From development and sales to management and personnel responsibilities, the gamut runs wide for… read more >>

Serious Points to Ponder for Would-be Homeowners

When you are struggling financially, it’s sometimes difficult to focus on long-term goals such as homeownership, because you are fixated on just making it through the month. Clearly, though, if you want to buy a house you have to move beyond “just making it”. More than that, you need to get yourself into a position of financial strength so you can make real choices about whether you want to own a home or keep on renting. (That choice is not so obvious as it may seem at first glance.) Every financial decision you make matters For people who are facing a financial emergency or a chronic cash-flow problem, homeownership may… read more >>

It’s a Buyer’s Market for Borrowers, but How Long Can It Last?

These days, it’s quite understandable why a consumer shopping around for a personal loan might feel a little bit like the belle of the ball, with smiling suitors coming from every direction. Interest rates are dropping, and there is a frenzy of competition for borrowers’ favour. But a few cautionary words are in order. Cheaper than mortgages? In December 2016, Sainsbury’s Bank announced that it was cutting rates on personal loans to 2.8 percent; significantly lower than the 4.62 percent average standard variable rate on a home loan, and even lower than the lowest standard variable rate of 2.95 percent rate offered by Stafford Railway Building Society. Effectively this made… read more >>

3 Ways to Propel Higher Household Earnings

Effective money management is all about finding balance between spending and income. But while the concept is straightforward, achieving equilibrium is an oft elusive challenge. Personal finances become strained for various reasons, ranging from one-time spending pressure to unexpected cost of living increases. In most cases, families facing financial crises turn their attention toward personal spending levels, hoping to correct imbalance with cost-cutting measure. While trimming expenses is a valid approach to spending control, often yielding substantial relief, paring your budget isn’t the only way to restore steady cash flow. On the other side of the equation, it is also possible to boost earnings, helping to offset financial demands. So… read more >>