Could Spending More Help you to Save More?

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When you’re trying to improve your budget and save more money, the chances are that you’ll always be searching for the cheapest version of everything. For instance, you’ll compare your loans to ensure you’re getting lower interest rates from your providers, even on urgent loans and make sure that you’re not overspending on branded items in the supermarket. 

However, while most of the time, this strategy will help you to improve your financial habits, there are times when you might need to spend a little more to save more too. It might sound strange but devoting a bit of cash to certain areas of your life could help you in the long term.

Here are some examples. 

  1. Ordering Food Online

Ordering food online often means spending an extra pound or two on getting that shopping delivered to your door – but that might be worth it for the money you save. If you’re the kind of person who tends to wander around the aisles at the supermarket, picking things at random and adding extra food to your basket that you don’t need, then online shopping can help you to break those habits.

When you’re shopping online, you can get the most out of your money by checking what you need first and going through all your cupboards in advance. Once you’ve figured out what you actually need to buy and planned your meals for the week, you can order just those items, without being distracted by anything else. 

  1. Living in a Better Area

When you’re trying to manage a good budget, the last thing you need is to spend a fortune on a huge house – particularly if you don’t need the extra space. However, you can save some money by moving into a nicer neighbourhood. Pick a location that’s close to your office, and you can save money on your everyday commute, plus, your home insurance is likely to be cheaper if you’re in a safe area. 

Another point to keep in mind is that if you’re living in a good area, you might not need to spend as much on security measures to keep your home safe. Plus, you shouldn’t have to spend as much repairing anything that gets damaged in or around your home. 

  1. Buying High-Quality Items 

There are certain high-quality items that you don’t necessarily need to pay more for. For instance, there’s no need to spend extra for branded versions of the bread and milk you usually get with your weekly shop. However, spending a little extra on a good pair of jeans that will last for a year rather than a couple of weeks could save you a fortune in the long term.

The same rules apply to things like furniture and appliances that you want to get a lot of use out of over the years. The more you spend, the more likely it is that you’re going to get an item that genuinely stands the test of time. Take a look at the reviews left by other customers to make sure that you’re getting something that you can rely on. 

  1. Purchasing Memberships

It can be frustrating to have to pay extra to do shopping with a business that you love. However, if you can get yourself a membership card for a business that you’re always buying from, it might be worth the extra expense – particularly if you’re buying in bulk. 

For instance, if you shop a lot on Amazon prime, you might have noticed that you can choose a subscribe-and-save option for some of the things that you buy most often. If you do subscribe to have the item delivered to you every so often, then you’ll be able to save a little bit extra on the cost of that product. Plus, you get the benefit of having it delivered to your door. 

  1. Buying a Home 

Finally, if you’re currently renting a home, then you could be spending more than you need to on your housing. Owning a home can cost more than renting, to begin with when you think about things like deposits and legal fees. However, in the long term, you’ll be able to reduce your mortgage by ensuring you pay as much as you can off what you owe as quickly as possible. 

What’s more, when you own your home, every payment you pay goes towards giving you something valuable that you can own in the future. You’re investing in equity, which is good for you in the long-term. If you decide you need to sell your home, you can always recoup the costs. 

Cash-in on first issue comic books: Some of the most valued

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Did you have a favourite comic book growing up? They can evoke great memories and for many people, comic books can arouse that sense of pocket money nostalgia — back in the day when you saved up all week to buy your favourite title. 

Are you someone that has treasured their copies since childhood, vowing to never part with them? If you’re willing to part with them, it could be a good opportunity to make some money for your summer holidays or refurbishment around your home? Here’s our guide to some of the most valuable first issues out there (as long as the condition of the comic is impeccable!). Could you be harboring one in your attic? Carry on reading to find out.

  1. Avengers #1, 1963 — £210,486

The ever-popular Avengers series had quite the humble beginning, and these once glossy pages feature the likes of Thor, Iron Man, the Hulk, and Ant-Man. If you could uncover one of these from your own collection, it could do as well at auction as the staggering price tag it currently has. Fantastic Four #1, 1961— £230,460

There’d be no Marvel if there hadn’t been a Fantastic Four to pave the way! This one was created by Stan Lee and Jack Kirby, and it sets a precedent of hundreds more adventures to follow. It was sold for a staggering £230,460 in 2011. 

2. Incredible Hulk #1, 1962 — £250,433

Did you know that due to ink issues, the Hulk was grey before he was green? Written by Stan Lee and illustrated by Jack Kirby, this duo created one of the most prolific comic book figures, a first edition copy was sold for 250,433 in 2014. 

3. Captain America Comics #1, 1941 — £263,536

Jack Kirby teamed up with Joe Simon to produce this masterpiece, and it certainly stood out on the newsagent shelves; the cover features Captain America swinging a punch towards Adolf Hitler?! It sold for a huge £263,536, so it’s definitely worth unearthing from the depths of your collection! 

4. Beano #1, 1938- £17,300

A true British icon, the first ever issue was just 28 pages long and there are only 25 known copies known to still exist. It was sold for 2 pence originally, but it fetched a startling £17,300 at auction in 2015.

5. Marvel Comics #1, 1939 — £268,870

This first issue created the Marvel that is loved globally nowadays. In the comic we were introduced to The Human Torch and Namor the Sub-Mariner for the first time. 

6. Flash Comics #1, 1940 — £345,690

This icon was written by Gardner Fox and Harry Lampert, and readers were introduced to the likes of the Golden Age Flash and the Golden Age Hawkman. It auctioned for a six-figure total in 2010, and at the time it was the second most-expensive comic in all time. 

7. X-Men #1, 1963 — £378,674

These notorious crime-fighting mutants took on Magento in this issue, another Stan Lee and Jack Kirby collaboration, which sold for an enormous fee of £378,674 in 2012. 

8. Superman #1, 1939 — £389,861

Of course, Superman would make an appearance on this list! Nowadays known as a star-studded role to portray in his various blockbuster films, this self-titled debut broke away from Action Comics where he had originally appeared. Early in 2018, it sold for an impressive figure which is just as impressive as his fictional crime-fighting career. 

9. Batman #1, 1939 — £436, 049 

Batman’s standalone career in comic book fame began in this issue, and his prolific counterparts the Joker and Catwoman were in tow. A well-kept copy sold for £436,049 in 2013. 

So, if you can get your hands on one of these, you could be in for a heathy profit, up to as much as six figures! 

Article brought to you by Where The Trade Buys, an experienced brochure printing company offering their printing services to businesses across the UK.

First Time Buyer? 3 Considerations When Deciding Your Property Budget

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When considering buying your first home, there is one particular area that tends to require a huge amount of focus: the cost of the property you want to buy. In an effort to assist you with this task, below, we’ve outlined what you’ll need to consider… 

Your potential mortgage 

Calculating the mortgage amount you can borrow is the obvious first step when deciding your property budget. In calculating the amount you are able to borrow, your salary is the first element to consider. Most mortgage providers will be willing to offer your combined income times a certain amount; the exact amount varies depending on factors such as your credit score and existing debts, but 4.5x your salary is often seen as a good reference point. So if you earn £25,000 per year, then the maximum mortgage you could apply for is £112,500. 

Your deposit (and how it influences your mortgage)

You’ll need to have a deposit of at least 5% of the property value to secure a mortgage in the UK, and the larger your deposit, the more you can potentially borrow. 

So, the best starting calculation for a mortgage is 4.5x your salary + 5% deposit. So, if you earn £25,000 per year, the maximum amount you could spend on a property would be £118,125. For some mortgages, larger deposits may be required. 

After the above calculation, you should have an idea of the property price you may be able to afford, and you can begin saving towards your deposit. However, there are a few other aspects to consider… 

Ashraf Ali
The cost of associated fees 

In addition to saving for your deposit, you’ll also need to consider additional fees associated with buying a property:

  • Your mortgage provider will charge fees to arrange the mortgage and conduct their own survey. 
  • You will need to visit the likes of Conveyancing Store to find a solicitor to arrange the legal side of the purchase, so these fees also have to be considered also.
  • You may also need to pay stamp duty if considering properties over £300,000.
  • Finally, you will need to ensure that any property you want to buy has been surveyed, which is an additional cost.

As a result of these fees, saving for your deposit amount does not necessarily mean that you will have saved enough to buy your first property. You can, of course, simply choose to add these fees to the amount you wish to save for your deposit – though this does mean you may need to save for longer. 

Alternatively, you could consider lowering the potential property price. Doing so would reduce your deposit amount and could allow you to save for your deposit and associated fees in a shorter time frame. 

The ongoing costs 

However, even with all of the above, there is one final thought required before you decide your property budget: ongoing costs. The higher the value of a property, the more likely it is to be large – which could mean that your heating bills increase. In addition, council tax and insurance can be more expensive for larger properties. 

If you are concerned about ongoing costs and how they may impact your family’s finances, reducing your property budget could be worth considering. It’s helpful to remember that you do not need to apply for the maximum mortgage amount that you qualify for. If you are happy to set your property budget lower in order to allow you to save for your deposit and fees quickly and keep your monthly outgoings reasonable, then you are free to do so.

In conclusion

Setting a property budget as a first time buyer is never simple; a huge amount of research, and a consideration of other costs, will always be required. Hopefully, the above information will allow you to go through your finances and settle on a budget that can work for you.