Investing In Gold: What Are Your Options?

There’s gold in them ‘thar hills! Well, that’s the saying, anyway. But if you want to invest in gold, you will be pleased to know that you don’t have to go digging for it. Well, not unless you want to. 

Is It Worth Investing In Gold? 

Well, as another addition to your investment portfolio, we would have to say yes.

Financial experts suggest this is one investment type that is free from the effects of inflation, so you have less need to worry about gold losing its value.

Gold also provides greater returns than some other financial assets, so it’s certainly an option when trying to build your wealth.

What are your options?

There are three main options when investing in gold.

  • Gold exchange trading funds
  • Gold coins
  • Mining stocks

Gold Exchange Trading Funds

This is a common way to invest in gold, as you can buy and sell through a discount broker. Gold ETF’s are handled like traditional stocks, so you won’t actually own the gold that is being traded.

Rather than receiving gold after redeeming your ETF, you will be rewarded with the cash equivalent.

While this might be a blow to you if you had dreams of owning gold for real, you should at least be thankful that you won’t have that risk of being it stolen.

There is more information on Gold ETF’s here.

Gold Coins

If you want to own gold, then investing in gold coins is the way to go.

Unfortunately, you are unlikely to find somebody selling gold coins on the high street, but there are a number of websites online where buying gold coins is possible.

However, you do need to be careful. Not every site is reputable, and you could get ripped off, so it’s important to do your homework before purchasing. 

When buying, you have a choice between collector’s coins, which sell at a high premium, and bullion coins which are less expensive.

Buy according to your budget, but be sure to store your coins in a safe for security.

Be careful how you handle your coins too, as you want to avoid damaging them.

Thankfully, as answered in the article Does gold tarnish over time, the risk of damage is minimized when buying coins, but you should still adhere to the advice given. 

After purchasing, you then need to sell your gold coins for a profit. You need to do this when the value of gold is rising, so it pays to bide your time.

There is more information here if this type of investment appeals to you. 

Mining Stocks

These are investments in companies that mine for precious metals.

If you are already familiar with stock investments, you will have the groundwork needed to start investing in this way.

You might also opt for silver, platinum, or other precious metals when you invest in mining stocks, so you might want to diversify your portfolio.

This beginner’s guide to mining stocks will tell you all you need to know.

What Option Is Right For You?

We can’t answer that, but as we suggested above, you might want to diversify your portfolio and go for all three.

Commit to further research online, and speak to a financial planner for expert investment advice. 

4 Key Elements for People That Want a Career Change

A career change is something that requires an incredible amount of work and patience.

It’s something that people find is impossible once they’ve become reliant on their main source of income and are invested in their current place of employment.

However, with the right circumstances and mindset, it’s relatively easy to make a complete change to your life.

In this post, we’ll be taking a look at four key elements for people that want a career change.

  1. Inspiration

Staying inspired can prove to be a challenge, especially when it comes to making a big career switch.

Fortunately, it’s something that you can acquire relatively easily. One of the best ways to seek inspiration is to actually get out there and network.

This could be attending more parties with friends to meet new people, it can mean watching new YouTube channels to learn more about the world, or it could mean getting on social media and looking for sources of inspiration.

Staying motivated is a challenge, but when you’re surrounded by positive people, you’ll find that it can be much easier to shoot for success.

  1. Time

Time is an essential component for those that want a career change.

Many people stop here and think that they’ve already used up a lot of their time on another career path.

They believe they’ve invested too much into their current job and so they don’t want to make the switch.

Fortunately, time is a relative element. In reality, it doesn’t matter if you’ve already spent years of your life studying for and achieving a career that you want to switch from.

Time is all about making time for your new life. It’s about freeing up time by avoiding distractions and optimizing the things you do in your life. Every minute we idle is another minute wasted.

If you want to make a huge change to your life, you need to find ways to cut out time-wasting activities and focus on things that can improve you.

  1. Education

There are a number of different ways that you can study while you work.

For instance, online study through universities such KUO can teach you anything from engineering management to business administration while you work your regular job.

Being able to study in your own time is a huge benefit since it can teach you essential skills while you make money that goes towards paying for your course and an eventual switch to a new career path.

  1. Support

Lastly, switching your career isn’t something that you can achieve alone once you’ve heavily invested in something.

It requires support from friends and family members, especially as a source of inspiration and motivation to keep you going.

This is especially true for a career path that isn’t easily defined, such as entrepreneurship or freelancing.

Career changes can involve the people around you, such as your family who depend on your income for their wellbeing.

By having support from these important people in your life, you’ll find it much easier to make the change you want to achieve.

5 Top Tips For Driving on a Budget

As modes of transport go, driving is far from the most cost-effective.

Firstly you have to fork out a great deal of money for your car, and then you need to insure it and pay tax.

Once it’s up and running, you have the continual fuel costs to contend with, as well as the inevitable services and repairs.

If you’re looking to save money, you might be better off with a bike and a public transport pass.

However, driving is unavoidable for some people. Particularly if you regularly travel across the country or you live in a rural area.

And the costs rack up over time. But there’s good news.

If you want to stretch your finances a little bit further, there are several ways to reduce your driving expenses.

Through careful planning, sensible driving, and acquiring a few skills, you can learn how to drive on a budget.

Be more fuel-efficient

Fuel is the highest running cost of owning a car. If you have to drive to and from work each day, you could be looking at expenses in the thousands.

But by being smart about the way you drive, you can reduce the amount of fuel you use on any journey.

By driving more fuel-efficiently, you’ll lower your costs, improve road safety, and reduce wear and tear on your car.

Here are a few ways to be more fuel-efficient.

  • Accelerate gently
  • Maintain a steady speed
  • Anticipate traffic
  • Don’t speed
  • Coast to decelerate rather than braking (if safe to do so)
  • Turn your engine off rather than idling in traffic
  • Keep your tires inflated to the correct pressure
  • Don’t carry unnecessary weight

Find the cheapest fuel

The cost of gas can vary from place to place, so it’s not a good idea to always fuel up at the same spot.

Check out the prices at gas stations in your area while driving and note any significant drops in cost. This would be a good time to refill your tank.

Drive safely

The better you drive, the less you will end up paying.

Getting into an accident will not only endanger yourself and other road users, but it will probably raise your insurance premiums.

Poor driving and inconsiderate parking are also likely to lead to a traffic ticket and a hefty fine.

Drive safely and carefully, and everyone on the road will benefit.

If you receive a traffic ticket for an offense you didn’t commit, you can always contest it using a site such as GetDismissed.

Clean your car yourself

When you can draw pictures in the dust on your car, it’s probably time for a clean. But you can save yourself a few dollars by doing it yourself.

All you need is some water, soap and a sponge. Over time, these savings will add up.

Learn to do repairs

When your car starts to malfunction, your instinct is generally to take it into a mechanic.

But in some cases, you may be able to fix the problem yourself. Don’t be too hasty to spend a lot of money on an easy repair.

Search the issue online, and you might find a YouTube video telling you how to solve it.

Car Accidents During A Business Trip: Understanding The Liability

Road mishaps can happen anytime and anywhere, whether you are running personal errands or are on a business trip. 

Generally, the driver at fault is considered liable for damages in an accident, but that’s the case when you are out for personal work. 

Things can get tricky if the collision occurs while you are driving for work or using a company vehicle. 

The biggest question in such cases relates to liability- whether the employer has full, partial or no liability for the accident. 

And you would also want to know if the injuries can be regarded as work injuries. 

The answers to these key questions go a long way in deciding the fate of the employee who has been injured or has ended up injuring someone else during the accident. 

Let us explain the concept of liability in collisions during business trips in detail. 

When Is The Employer Liable?

The following are the basic considerations when it comes to determining the liability of the employer for an accident that happens on a business trip.

  • Employer negligence

In such cases, the negligence of the employer is clearly the cause of the mishap. 

It could range from negligent hiring to negligent supervision, more specifically in case of commercial vehicle drivers. 

When a business onboards a person for driving a company vehicle, it is the employer’s duty to exercise due diligence for ensuring that the employee is a safe driver. 

They need to go the extra mile, with measures like verification of the commercial driver’s license being in good standing and ensuring that it has not been suspended before.

  • Negligent supervision

The business has to implement reasonable safety policies for making sure that all the drivers on board comply with safety laws. 

These laws include the ones for regulating truckers’ hours, vehicle inspections, and more. 

If the employer fails to check that the employees are taking reasonable care, the former will be liable for negligent supervision.

  • Vicarious liability

The doctrine of vicarious liability states that the liability for the employee’s actions rests with the employer if these actions were within the scope of employment, performed while working or doing a task they were hired to do and/or the employer earns some benefit from the activity being done by the employee while the accident took place. 

This case applies to people who are just running errands for business or are on a business trip.

When Is The Employee Liable?

Although the rule of vicarious liability is clearly applicable in some cases, there are certain exceptions as well. 

As an employee, you may be considered liable for an accident if it happened while you were doing personal work, even if it took place while driving a company vehicle or during work hours. 

Also, the liability will be of the employee if they were committing a crime when the accident occurred. 

Further, employers are not considered liable for mishaps during employees’ commute to work, even if it is in a company vehicle. 

However, an accident while commuting for a business trip is an exception.

accident at work

Injuries during a business trip and workers’ compensation

The liability for an accident for a business trip decides the person who would be responsible for paying for damages to the injured party. 

However, you would want to know the implications of your own injuries as well. 

Typically, if you get injured in a car accident during a business trip, your employer will have to pay for the costs of these injuries, regardless of the fault for the accident. 

These damages are covered under workers’ compensation and may include expenses such as the medical bills for injuries and lost wages due to absence from the workplace during recovery. 

As a rule, only the injuries that are work-related come under the coverage of workers’ compensation. 

So you will have to validate that you were doing a work-related task when the accident happened.

Involvement of a third-party driver

In yet another situation, a third-party may be involved in the accident. 

If you are due to the negligence of a third-party driver while on a business trip, there are two potential avenues for pursuing compensation. 

While you may claim workers’ compensation benefits for a mishap that happened on a work trip, you may also file a personal injury lawsuit for compensation from the negligent driver. 

Workers’ compensation generally covers bills and lost wages but not the cost of pain and suffering related damages. 

The latter can be recovered by bringing up a lawsuit against the negligent driver. By pursuing both, you can actually maximize the value of compensation.

When it comes to car accidents during business trips, awareness is the key for employees looking for protection against the law as well as a fair settlement for their own injuries. 

It is best to seek guidance from an experienced lawyer to ensure that you get both. 

Be Smart With Your Finances And Invest In Your Home

Finances are important, and you need to know how to manage them while investing in your home. 

If you think about it, your home is one of the biggest investments that you will ever make, and keeping up with it is something you should be doing. 

If you don’t know what we’re talking about and investing in your home sounds like a foreign concept, keep reading down below where we’re going to be talking about some of the ways that you can do this.

Fix What’s Broken

The first thing we’re going to recommend is that you fix whatever is broken. When it comes to investing in your home, that means the property itself as well as everything that is in it. 

For example, if your refrigerator is broken, then you can look at this site or something similar to find the solutions that you’re looking for. 

The same principle goes for things that you find around the home that aren’t right, such as holes in the wall or a leak in the roof. 

While one is more pressing than the other, they should both be fixed as soon as possible. For the holes in the wall, it is simply a case of heading to your local DIY store and getting some filler.

For the roof, head up onto the roof, see if you can identify where the leak is, and then patch it up. 

But, if you don’t know how to do this, then you should consider contacting a roofer to get the job done for you.

home investments

Upgrade Where Necessary

The next thing that we want you to think about is updating the parts of your home that need it. 

For example, if your kitchen has been around since the 1980s, then it’s time for something new. 

If you’re going to sell your home at some point, then nobody is going to want to purchase something they need to put a new kitchen in, unless of course, it’s a fixer-upper. 

However, if you’re making investments into the property, that’s not what you’re going to market it as.

The same kind of thing goes for the bathroom, the roof, and even the foundations of your home if there is something wrong with them. 

We know that spending money on your home doesn’t always feel like the best thing to do, but it is. 

Consider Luxuries

The last thing that we’re going to look at is the little luxuries. 

Add a patio to the backyard, add a pool if you have space and the funds, things like this are those little luxuries that will help to boost the overall value of your home. 

The value of your home is important for the future, and adding these little luxuries in now while you can afford them puts you in a good position.

We hope that you have found this article helpful, and now know how you can be smart with your finances and invest in your home. Good luck with your new task!

3 Professionals Who Either Save OR Make You Money

As humans, we’re quite restricted when you consider the number of skills and professions we can acquire to become fully-fledged experts in numerous fields.

Usually, we tend to pick a career path and commit to this until it no longer fulfills our needs, following this we either adapt our existing careers or venture off to start a new role as a beginner. Our limits on time, money and passion, dictate that we are not capable of doing all jobs and doing them well. In consideration of this, it’s essential for us to seek help from other people, other professionals. When the subject of your concern is money, there are three professionals you may be able to rely on, a lawyer, an accountant, and a stockbroker. Here’s why;

#1 Lawyer

Sourcing a lawyer from the firm that will fight for you takes some time, research. Your advocate speaks in a professional manner on your behalf to convey your situation, so that whatever the circumstances may be, you are likely to come off better than your opponent. Be it a divorce, an accident at work, to claiming for criminal damage on your property, an experienced lawyer will take a stance to either prevent you losing your assets, or work hard to make you money where they believe it’s due.

#2 Accountant

This individual, in particular, has a wealth of ways to save and make you money. By meticulously managing your finances, in consideration of the self-employed and company owners hiring an accountant works well to your advantage. An accountant will file your taxes correctly, saving you from either over or underpaying taxes and making sure they are sent back on time, to prevent you from receiving a penalty. Further to this, owning a business and attempting to balance your books takes time and effort to get right. By handing this responsibility over to an expert, you can take comfort in the knowledge your finances are being looked after, and use your new found free time to concentrate on making more money.

#3 Stock Broker

financial resources

If you are at a point in your life where you have the means to invest in more than penny stocks, you may be anxious about where to start. This is another area of our lives where unless we have the expertise and an infinite pot of money, it’s wise to hire help from individuals who work as investors for a living. This way you can reduce the probability of losing your money, ask your new found broker to help you get to grips with the investing world, and begin on the right path to launching a successful investment portfolio.

Adopting the skills to look after our personal finances is necessary to a degree. However, an occasion may arise in the future affecting your finances drastically. In scenarios such as these, it’s likely that one of the professionals above will help to catch you and your money before it all falls away. So, if you’re reluctant to take the plunge in a professional, you shouldn’t be, hiring experts might just be the best thing you ever did for your finances.