Avoid These Self-Build Project Disasters

When you’ve fallen in love with your design, you know you have to build it, no matter what. But if you are foolish with your finishes and frivolous with your finances, you could lose everything. If you’ve got as far as approval for your architect’s drawings, then chances are you’ve already invested a lot of cash. Make sure you avoid these self-building disasters so you can enjoy your beautiful new home:

Cutting Corners

Once the money starts to run out, you can be quite tempted to cut corners. You may start to wonder just how much you can get away with. Don’t risk the safety of your family, or your contractors by ignoring regulations or buying substandard materials. Yes, building regulations inspections are expensive and time-consuming. Miss them at your peril! Your local authority may have the right to tear down everything you’ve worked hard for. Remember, they’re there to help.

Poorly Managed Budget

Most projects will have those moments of uncertainty due to unforeseen costs. Meticulous planning and a healthy contingency pot can help you out of a tight bind. That doesn’t mean you won’t be caught short somewhere. Things that couldn’t be predicted can be the downfall of a project. Don’t let running out of money cause more problems. Find a bridging finance broker that can help you over the bump and back into the black.

Lack of Survey and Research

This tends to happen more often if you’re building for other people. When it’s your home, you’re more likely to have an interest in finding out everything you can about the land, the area, and the region. You should always invest in adequate surveys to check out the history and topography of your plot. Sure, it might throw up a few surprises that could increase the cost of your build. Better to know that before you start. You can spend a few months saving up the extra with no harm done.

Self-Build Without The Skills

If you don’t know what you’re doing and you haven’t ever done it before, you need to find people to help you. You want this property to be an investment. It needs to be worth more money than you’re putting in to build it. But if the craftsmanship is poor, it won’t be worth much at all. And if you’ve done something wrong, it may not be a safe property to live in either. You can learn on the job, but only if you have someone showing you the correct way to do things. You can build a home for less by taking on the work yourself. Don’t let this decision cost you much more in later repairs or replacements.

Building your own property can be a great investment idea. Property can often be a good place to grow your cash. But self-building can also be very risky for lots of reasons. It’s important you take the time and invest the money in the right places to avoid disaster. After all, this is going to be a home, not just a nest egg.

How To Improve Efficiency In The Workplace

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When building a successful business, you might have learned the importance of listening to your customers. However, you might not yet have learned that it is equally important to listen to your employees. You might be the one running your company, but they are the ones who make everything work. As such, you want to make sure they are doing their job efficiently; you don’t want to be paying them to slack off on your time. If you’re getting reports that some aspects of the business aren’t running as smoothly as they should, assess how you’re running your company and see if there are things that could be done better.

Communication

Open door policies are a great start, but they often they end up being hollow, rarely-used entries in employee handbooks. To create a true environment of open communication, you should encourage collaboration and feedback between departments, as well as between management and staff. Productivity will improve as a result of a more positive office morale.

Clear and up to date business goals

Sometimes efficiency can drop because employees haven’t been updated about new company goals, or the communication about new business goals weren’t clear. As the boss, you have a clear idea of what is organizational design of your company, but you need to accurately communicate it to your employees if you expect productivity to remain high. If emails aren’t clear enough, arrange a meeting and encourage your employees to ask questions. It will go a long way to preventing further confusion.

Use technology wherever possible

Technology has done a lot to improve productivity and communication in the workplace, so you should take advantage of it in you business. Up to date machines will increase the speed at which your employees work, letting them do their job more efficiently. A company social networking tool such as Slack is faster than email, but doesn’t have all the distractions of actual social media sites.

Take time to train

Forcing employees to learn on the job can be extremely inefficient and overwhelming for your new worker. If it doesn’t encourage them to quit, you may eventually have to make that decision for them. Instead of expecting them to effectively accomplish a task with little to no instruction, take the extra day to teach them the necessary skills to do their job. Make it clear that it is okay to ask questions, and they don’t have to present themselves as an expert. In the long run, you will have an employee who knows how to do their job well, and you won’t have to read more applications for a while.

Incentivize

People work better if they’re rewarded with more than just a paycheck. Recognizing their efforts and contributions will make them feel appreciated and they will continue to be productive workers. Make sure you take into account their individual needs or preferences when thinking of a suitable reward. One employee might appreciate public recognition, while another would prefer a private “thank you.”

How To Spend Money To Build Good Credit

After spending a long time taking control of your credit, you might have finally cleared some of your debt. Your next step should be building good credit so you can get lower interest rates on loans, and improve your chances of getting a mortgage. Just as you must spend money to make money, your have to spend a little to build a good credit score. Here are a few ways you can begin.

Establish a line of credit

The majority of your credit score is based on your payment history and how much money you, therefore a credit card is the easiest way of establishing good credit. You might feel nervous about using a card if it was the biggest cause of your debt, but you shouldn’t have any problems as long as you use it responsibly.

Keep your utilization rate below 10 percent, and pay back what you owe in full every month. You should also never take out more than one card. If you have too many credit cards it reflects poorly on your credit report. You may justify your store cards because of the discount. The stores are not offering the discount to be nice. They know that the majority of people do not pay off the balance in full each month, and they make a lot more in interest than they offer you in savings. Don’t give in to temptation.

Apply for credit you need

While credit cards are one way to build up your credit, it’s likely that you’ll need to take out a loan for bigger purchases down the road. If you’re thinking about buying a new car, for example, find an average car loan interest rate to finance the bulk of the expense. Finding a good rate should be easier now that you’ve cleared up some of your previous bad credit. Now, you just need to show lenders you’re a responsible borrower by borrowing and paying it back. Only spend small amounts and then keep clearing the balance, thereby not being charged interest.

Make all your repayments on time

As you might have experienced in the past, late repayments can set you back in your payment plan, and they have a negative effect on your credit. To make it easier for you to make your repayments in full, never use your credit card to buy an item you won’t be able to pay off on time and in full each month. If you need further guidance; don’t charge something to your credit card that you wouldn’t pay cash for.

Keep your old debt on your report

Believe it or not, it can greatly benefit you to leave evidence of your old debt on your credit report. Debt that you’ve managed to deal with and clear off is evidence of a good credit history, and it shows that you can be trusted to follow through with repayments. You don’t want this to come off your history. You should also check you report annually.