Category Archives: Finance basics

How to buy and run a car – the frugal way

buying used car bmw E30Saving money on buying and running a car can be a very important step to ensure financial freedom and bolstering your net worth. In the UK it has been on the news recently that car finance deals have soared to record levels. Motorists have spent £3.6 Billion on car finance deals in March 2017 alone! That is a 13% increase when compared to March 2016. This is not surprising considering Continue reading

Emergency fund: Why you need one to build wealth

emergency fund“Anything that can go wrong, will go wrong” – Murphy’s Law. An emergency fund is very important and considered to be the first step of building wealth. The definition of an emergency fund is a fund or a collection of funds which can be used to cover unexpected expenses that are certain to occur to most people. As Murphy’s Law says: “Anything that can go wrong, will go wrong”. Continue reading

How to track your net worth – Useful guide

Calculate your net worth

It is important to know your net worth if you want a clear picture of your financial situation.  This is a guide for finding out and tracking your net worth. A free net worth tracker spreadsheet and tutorial video are also provided. Personal net worth is defined as the value all the assets which an individual owns minus a total of the person’s liabilities. Continue reading

How to open a Stocks & Shares ISA

Stocks and Shares Investment ISAThis post explains what an Investment or Stocks & Shares ISA (Individual Savings Account) is in simple terms and how to open one. I will share what worked and is working for me when investing within an ISA, while avoiding a lot of technical or confusing jargon used elsewhere. This is not meant to be a comprehensive guide but to only provide information that I found to be Continue reading