Should You Buy an Apartment or a House?

If you are getting ready to buy your first property, there is a lot that needs to be considered. From establishing your budget to determining the area you want to live in, there are a lot of difficult questions you will need to ask yourself. Nevertheless, one of the first decisions you need to make is whether to buy an apartment or a house. Read on to discover the drawbacks and the benefits of both options so that you can make the right decision for you.

Pros of buying an apartment / cons of buying a house

Let’s begin by taking a look at the benefits of opting for an apartment over a house. One of the main reasons why apartments can be more attractive is that they tend to be located in prime locations. They are usually in the centre of towns and cities, meaning you will be near to public transport lines, restaurants, and shopping districts. Not only is this important in terms of convenience for you, but it can be a big factor when the time comes to sell your apartment in the future.

Another reason to consider looking for apartments for sale is because of the security they provide. A lot of people like the greater sense of community and security that comes with having neighbours nearby. Of course, apartments are also more affordable than houses, making them a great choice for those trying to get on the property ladder. If you have a limited budget, you are probably going to be better off looking at apartments. You also have a lesser amount of maintain too, as there is no leaf collecting or gardening. For a busy professional, this can be music to the ears!

Pros of buying a house / cons of buying an apartment

Now that you are aware of the benefits of choosing an apartment, let’s take a look at the reasons why a house may be a better choice. Firstly, while a house may be a more significant investment, you won’t have to fund the annual management charges that can often be incorporated when owning an apartment. Not only this, but you should find it easier to sell your house when the time comes too, as apartments tend to be more sensitive to trends in the property market.

Aside from this, other reasons to consider owning a house is because you will benefit from some outside space, and you can enjoy more private living too. You also won’t be bound to the rules and regulations that may be incorporated when you own an apartment that is part of a bigger community.

Hopefully, you now have a better knowledge when it comes to the pros and cons that are associated with buying a house and buying an apartment. There is no right or wrong answer. It is all about making the right decision for you and your circumstances, taking into account your current needs, future requirements, the property market, and your budget.

Push And Pull Control Of Your Own Money At Work

As the world gets more and more creative and advanced, more and more tasks are given to each employee at work. It’s only natural as the law of progression requires each individual to carry an increase in their personal burdens. Businesses around the world want their employees to be pound for pound better than the competition. This is perhaps the only way for bosses to increase productivity. There’s less waste and tighter control of each stage of progress that is needed to fulfil a product or services’ creation. As mentioned, this means there is added burden onto the employee. Now many small businesses will ask you to broaden your shoulders and take on the additional expenses out of your pocket. It could be chipping into a marketing campaign; it might even be just to help buy the office coffee machine. Larger businesses may not ask you to pay for the little things like that, but still, require you to spend your own money to able to function in the new environment. We’ve all heard of the type of stuff like paying for your own uniform and having the money taken out of your monthly pay; that type of thing. It doesn’t have to be one-way traffic; you can control your money that’s connected to your job.

The office desk

Working in an office is a love it or hate it kind of role. Some people cannot stand being cooped up in an office all day long, on the phone and typing away. Others don’t just not mind it but find it allows them to get the best out of their talents and put their mind to good use. However, if you work for a small business or even a medium-sized enterprise, the office supplies become an expenditure that is up the air. Up in the air in terms of who should be paying for it. Now common sense and or common practice would determine that the company supplies its workforce with the necessities for what it needs to get the job done that is asked of them. However, even in pop culture, we see when people clear out their desks they take ‘their stuff’ with them.

Say for example you’re compiling a report that needs to be done to a high standard. You’ll be buying a good quality folder, paper, higher standard of printer ink, and maybe personalize every copy in some way. This means you’re shelling out of your own pocket to get something done that is asked of you by the company. Some companies will have their own policy on reimbursement and a guide to claiming expenses which you should look through carefully. Use their standards to get back the money you’re owed. On the other hand, if they don’t have such a guide, then see if it’s okay to make your own list of expenses and bring it forth to your manager. Try to go about it in a gentle manner and don’t force the issue as you don’t want to seem like someone who won’t be a team player. Taking hits is part and parcel of being an employee of a business trying to grow.

A shady shaving

No one wants to find themselves in a situation where they think their employer is committing to indecent practices against them. Most people believe that someone who has made an effort to start their own business would make sure they attract and then secure the best talent they can find. Yet in this imagined moral image of our boss, we forget that they too are human. Human beings for the overwhelming part are incredibly morally-minded in the world of business. It’s just good sense not to cheat the very people who are working to make you money and make the business grow. But as the employee, you have every right to be treated with a professional hand at all times.

Getting shortchanged by an employer on a regular basis you do, is beyond reproach. To know they’re cutting your pay here and there for whatever grey area technicality or in the hopes you won’t notice is a criminal offence. When you have proof and are sure you are not getting the pay you’re owed, you have to contact an attorney for wage theft to take on your case. They will do the digging for you, looking at the records to correlate the hours you worked, any special occasions such as during holidays like Christmas, calculate any overtime and match this to the employment contract you signed. They can also uncover malpractices that you aren’t even aware of that could be costing you thousands of dollars over the course of the year. It’s a shame to admit, but unless you take this course of action, you may never get back the money you worked hard for and that you thought were receiving.

Safety equipment

Many times a business will be forced to take upon new government legislation that requires either new or improved safety equipment and procedures. Of course, any business can make its own policy and set its own standards for these areas. However, more often than not, employees are made to pay for safety equipment out of their own paychecks. One does not have to take this lying down. Very prudently and with the correct tone, ask if you can buy your own equipment. By having more control over your own safety, you can actually buy equipment that not only works better for you but won’t cost as much as the company will cut from you.

Talking with your employer about the issue of not paying you what they should be is an awkward moment. Bringing up the issue might give the employer a reason to subtly find a way of either silence you through intimidation or just plain fire you. Either way, contact a legal professional to get the money you are owed before they have time to make excuses. Buying your own safety equipment will usually end up saving you money as most businesses will try to make their money back by offloading their fiscal dent onto employees. Office supplies may not seem expensive at all. But over the years they can add up to hundreds of dollars, so form an agreement to get your expenses paid by the company.

Bettering Your Retirement Savings

People save for different reasons; college, emergencies, houses, travel, financial freedom and most importantly retirement. While 38% of Americans do not save for retirement, most workplaces in the USA have saving plans for their employees. The majority of these plans are auto-enrollment based.  Juggling between debt and saving for retirement coupled up with day-to-day expenditures can be daunting. Learning tips on how to better save for retirement and laws that protect your retirement savings can be quite helpful.

Personal finance revolves around budgeting, collecting, and spending financial resources over a period, taking into account numerous financial risks and upcoming life events. The average debt per American household sums up to $139,500 according to a report by Nerdwallet. Debt collectors constantly sending you letters, emails or calling can put you under a lot of pressure; enough pressure to make you digress from a solid retirement savings plan. Luckily, writing a cease and desist letter might help with this. Consolidating your debts might also help better manage debts leaving room for better saving.

Start with your workstation savings plan

If your employer offers a 401(k) plan, contribute the extreme amount that you can afford. The current yearly contribution bound is $18,500 (plus an additional $6,000 catch-up involvement for anyone who is age 50 or over). You don’t have to pay levies on the earnings created by savings held in your workstation savings plan until you start taking supplies. Consequently, your contributions will benefit from tax-deferred compounded development. If your business matches worker offerings, be sure to contribute adequate amounts to earn your employer’s full match. That’s like making an automatic 100% return on your contributions in year one. Even if you cannot meet the expense of contributing the maximum figure each year, remember that any involvement to your retirement savings strategy gets you closer to your long-term objectives. If you are not by now participating in your workstation savings plan, open registration season usually happens in the fall of each year, so be sure to consult with your human resources section.

Set up a programmed investment plan

You may want to consider establishing programmed periodical contributions. You can have funds moved on a regular program from practically any checking, investments, or brokerage account. Any sum invested to your IRA will help increase your retirement savings. If you cannot oblige to contributing the extreme periodical amount, start with a lower input and slowly increase that amount till you reach the yearly input limit. A programmed contribution ensures your investments will have more time to possibly grow. For example, if you begin funding $400 a month to an IRA in this March  and pay that same quantity for the next 11 months, your offerings will begin to compound earlier than those made at the tax filing deadline. By investing a regular amount each month or part, you will also be taking advantage of a deal policy known as dollar cost averaging. This allows you to extend your purchases over time and reduces the risk of financing a large amount in a single deal at the wrong time. While there is no assurance that you will have an increase when you sell, dollar cost averaging may aid reduce asset risk and shape your investing discipline.

Add an IRA

If you are paying the most amount to your workstation savings plan, you may also want to ponder over establishing an IRA to increase your retirement savings. Contrary to what many individuals assume, there is no regulation against saving in both a workstation savings plan and an IRA. Assuming you have got a salary, you can contribute up to $5,500 (plus an additional $1,000 catch-up input for anybody who is age 50 or over). If you are 50 or older , you can make an additional catch-up input. Offerings to a Traditional IRA are completed with after-tax dollars and may be tax deductible if your salary maximum allows. These offerings grow tax delayed and anyone with received income (as well as their spouse) can pay to a Traditional IRA.Offerings may be tax deductible, depending on your yearly salary and whether you already contribute in a workstation savings plan. With a Roth IRA, offerings are always made on an after-tax basis, so they are never tax deductible. However, your savings grow tax free, which means you will owe no national income tax on your offerings or earnings when you start taking deliveries. This is assuming you are older than 59½ and hold your offerings within the Roth IRA for at least 5 years, starting with the first taxable year after you paid.

For people aged 65 and above, the average 401(k) balance sums up to $200, 358. Personal saving rates in the country have risen to a 5.5% rate according to Vanguard. More people are embracing the saving culture. While there are hundreds of efficient retirement schemes a 401(k) plan and a ROTH solo 401k rank high on the list.