Should you borrow money from family and friends? 

Money

 

Borrowing money from family and friends is one of the oldest and most popular ways of getting access to finance. On a daily basis, it might start with borrowing $10 here and there for drinks or tickets to a show, but on a larger scale, it is one of the main sources for funding big purchases, especially from parents to children, who may be helping to buy a new car, a new property or for starting a business.

But it is also widely known that money amongst friends should not mix – and if not handled well, it can lead to conflicts, falling outs and even legal action.

With this in mind, we give you some of the key things to consider when borrowing money from family and friends.

When is borrowing money from people you know a good thing

Borrowing money from family and friends certainly has its place. In times of need such as funeral costs or household repairs, the trust and bond that you have between close family and friends can help you get through a difficult time.

For these kinds of expenses, the lender is also likely to be a lot more patient and considerate in terms of repayment – and they would not be lending out the money if they expected it back quickly or at all. It is purely because they want to help.

Similarly, when your parents give you money to buy your first car or get on the property ladder, there is no real expectation to repay and no doubt your parents receive joy from helping you during this important milestone in life.

Furthermore, if the person has been turned down for a loan due to various reasons, such as bad credit or no credit – this can be a better loan option than using a loan shark, payday loans or high cost loans, which are very prominent in areas such as Nevada, Texas and California.

When borrowing money turns sour

Borrowing money from people you know can turn ugly if the expectations are not met. Whether it is a small or large amount, it can get a bit hairy if the lender is expecting repayment and this does not materialise within the expected timeframe.

The purpose of how the money was spent is also key here. If it was used for a personal or emergency expense, this is likely to result in more patience and need for fast repayment.

If the reason for borrowing is not disclosed and the borrower is seen living a lavish lifestyle or making poor life decisions e.g alcohol, drugs – this is likely to cause resentment and lead to an unhappy friendship or relationship.

Should you have a contract?

If you are lending out money to a friend and expecting repayment, there is an argument to put a contract in place, even if it is just a one-pager or written up casually on a piece of paper.

This achieves to formalise the agreement and above all, it manages expectations including the amount borrowed, when repayment is expected and any interest (if this applies).

Even just a basic email that highlights the terms is something that can legitimise the transaction and there is nothing wrong with this amongst friends. Although, you should probably avoid a lengthy agreement sent by your lawyer!

Make sure you manage expectations

Overall, borrowing amongst family and friends is just about managing expectations. You want to avoid conflict and any bad feelings, and if it works out, maybe even borrow money again. But knowing exactly the purpose of the loan and when repayment is expected are the most vital things to ensure that the transaction goes smoothly and the relationship remains strong.

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What to Do When Your Reverse Mortgage Becomes a Financial Burden

Finance

Did you take out a reverse mortgage? Many seniors consider reverse mortgages to deal with financial issues that they encounter during retirement.

There can be a lot of great reasons to take out a reverse mortgage. However, they are not without their own issues. You need to be aware of the potential pitfalls that you are going to encounter when you have a reverse mortgage.

Some of the problems with reverse mortgages might creep up on you over time. Fortunately, there are ways that you can deal with them.

Here are some things that you can do to offset any issues that were created by a reverse mortgage.

Consider refinancing your reverse mortgage

According to All Reverse Mortgage, “You can also refinance your reverse mortgage if you don’t like the interest or other terms associated with it. This might be your best option if you think that you will need to sell your property in a few years.” Refinancing will keep you from losing a large amount of money and interest. It would also be ideal if you want to make sure that your kids or other people inheriting your estate will get more.

The process of refinancing your reverse mortgage is very similar to that of refinancing a traditional mortgage. The only caveat is that you generally need to wait at least 18 months after taking out the original reverse mortgage before you can refinance it.

You should take a close look at your credit history before submitting a refinancing application. Your payment history keeping up property charges is going to be the most important factor for qualifying for a better HECM in most cases.

If your credit has improved since you took out the last reverse mortgage, you will possibly be able to qualify for that terms. You can also try to take steps to improve your credit score if you want to take preemptive measures to get a better deal. You should start by looking at your credit reports and seeing if there are any errors on them. Around 20% of all credit reports contain errors, which could be hurting your score. You should also take a close look at any outstanding debt that you have. If you still have a large amount of money from your reverse mortgage, then you should use it to pay off high interest debts, such as credit card bills. This will both boost your credit score and minimize your long-term expenses. It will be a win-win, especially if you get a cheaper read on your reverse mortgage.

You should also settle any possible liens on your property. They could be hurting your potential of getting a better read on your reverse mortgage.

Lease your home instead of selling it before you move

When you take out a reverse mortgage, the bank is going to give you money that will later be taken out of the value of your home. Unfortunately, you have to hold onto the property if you don’t want to pay the reverse mortgage loan back.

You might end up in a situation where you really can’t stay in your home. You might feel like you are a prisoner to your loan, because it is keeping you from relocating if you can’t afford to pay it back.

You might not have been concerned about this when you first took out your reverse mortgage. You probably thought that you would never relocate. Unfortunately, problems happen. You might get an unexpected divorce. You might develop health problems that prevent you from living in an area with bad weather or excessive pollution. Your kids might take new jobs in another state, which forces you to move as well if you want to be close to them.

Before you bite the bullet and sell your home to repay your reverse mortgage, you should explore other options. One idea that you might want to consider is leasing out your home and using the cash from it to pay for new housing wherever you want to relocate.

This might give you the best of both worlds. You get to keep the money that you secured from your reverse mortgage and have the flexibility to relocate at the same time. You don’t even have to physically deal with your tenants if you are willing to outsource that obligation to a property management company.

Explore property tax relief services

Property taxes are among the reasons that people when face problems with their reverse mortgages. You might be required to repay your reverse mortgage if you stop paying your property taxes.

You might be able to get ahead of the problem by seeking property tax relief services. The terms of these services vary between jurisdictions, so you should pay close attention to the requirements. The governor of Idaho recently signed a property tax relief bill, which is an example of how these services work. If you are eligible, you might avoid property tax problems that could trigger a requirement to repay your reverse mortgage.

Make sure that you are reverse mortgage is a benefit rather than a liability

There are a variety of reasons that reverse mortgages have become popular in recent years. They really do offer a lot of benefits. However, there are some situations where they could become a burden, so you need to take steps to avoid that from being the case.

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Things to Know If You Plan to Use an Air Rifle in England

Sports

Air guns make use of compressed gases including air to propel bullets and other projectiles without going through the oxidation process employed in other firearms. 

Apart from guns, other weapons make use of compressed air, e.g air bows, they are called air weapons. 

Air weapons are used for hunting and other shooting sports. In England, air weapons that have a muzzle energy of less than one Joule are not considered lethal weapons and therefore, do not require a permit. 

However, air weapons can quickly become lethal weapons when they sport muzzle energy of over 1 Joule. That said, buying air rifles in the UK requires the weapon owner to learn and understand certain things about the weapon, including the rules governing the ownership of an air rifle in the region. 

Age Requirement

Not unlike other firearms, some laws guide the ownership and usage of air rifles in the UK. For instance, individuals under the age of 14 can only use air rifles on private property with permission from the owner of said property. However, they cannot own, rent or receive air rifles as a gift. Furthermore, they must be supervised by someone who is 21 years or older.

Individuals within 14-17 years see the above rule loosen a little for them. They can borrow an air rifle with ammunition, and they can fire the weapon on private property as long as they have permission from the landowner. What they cannot do is receive an air rifle as a gift or purchase one. However, they can carry the weapon in public as long as they have supervision from someone who is at least 21 years old.

For individuals who are 18 or older, there are no restrictions on buying or owning an air rifle. However, a permit is needed before the weapon can be fired. 

Basic Etiquette

It is considered basic firearms etiquette to carry your gun in a gun cover whenever you are in a public place. That, and to make sure it is not cocked. Also, before firing your weapon on private property, make sure you have the property owner’s permission. Firing on private property, or in public for that matter can lead to serious legal implications. Furthermore, firearm wielders are expected to understand the possibility of a ricochet and discharge their firearm with that possibility in mind.

It is also considered basic etiquette to be responsible for your air gun at all times, to secure its location at all times, and prevent it from being used by others without your permission, especially by persons under the age of 18. Not taking the necessary precautions to prevent this from happening can lead to legal implications.

Locations and Boundaries

Although you may fire your weapon in places where you have received permission to do so, you are not allowed to fire any projectile beyond the lands to which you have been given permission. Doing so is considered a punishable offense under the law, even if the shooter is only 14. In this scenario, the supervising adult will be held accountable for the teenager’s actions. 

In addition, it is illegal to fire any kind of weapon within 50 feet of the center of a highway. If bystanders or other road users are harmed as a result, the offender will be prosecuted.

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Popular Remodel Upgrades for the Home

DIY / Home Improvement

There are several reasons why house owners choose to upgrade their homes. It could be to resell the property or to change things up a little. When the same designs or appliances have been used for a long time, it is normal to want to try new things or replace the old and faulty ones.

Generally, some remodeling options are more popular among homeowners than others. Furthermore, some remodeling upgrades are popular in some regions than others. Some popular remodeling upgrades for the home include:

Room Dividers and Partitions

Room dividers are especially useful for homes that have an open floor plan. Several types of dividers can be used, however, the most common method is to use partition walls for dividing rooms. 

Indoor plants that have been carefully trimmed to be opaque and block the view from across the room can also be used as room dividers. If you’re feeling adventurous, you could erect a partition wall with built-in planters. Other types of dividers and partitions include extra high curtains, drapes, floating arts, and sliding doors. 

In homes that use an open floor plan, not having room dividers and partitions can be very distracting. However, having too many dividers will only make the rooms feel small and cramped. 

Wallpapers

A little old-fashioned, but wallpapers have evolved with the times so homeowners have a myriad of genres and options to choose from. The right wallpaper can give your home a significant upgrade. 

However, in the spirit of remodeling, you probably want to get wallpapers that are easy to remove for the next time you choose to remodel your apartment. Also, easy-to-remove wallpapers will not damage your walls, so there’s that. 

Fashion an Open Space

Sometimes, it’s important to create partitions to divide and make rooms smaller. However, open spaces are very important to have in your home. Therefore, if you’re looking to upgrade your home and it doesn’t already have an open space, now is a good time to create one.

You don’t have to tear down your walls to achieve this, creating open space in your home can be achieved by getting rid of large furniture. Furthermore, If you have appliances or areas you no longer use, like an old dining room, get rid of them. You could also create an illusion of a bigger, airier room by positioning mirrors opposite your windows to reflect light into the room, this will make it look more spacious. 

Upgrade Your Kitchen and Bathroom

It’s easy to overlook your kitchen and bathroom when upgrading your home. However, paying attention to these rooms can have a more significant effect on the ambiance and overall awesomeness of your home. 

It is important to always keep your bathroom clean. No brainer, right? Also, you should change the old and rusted designs or appliances e.g your old doorknob or faucets. Furthermore, you can repaint the space and add a few things to beautify your bathroom e.g indoor plants.

In the kitchen area, cabinets are popularly overlooked. So, make sure to change the design and replace the old and/or broken kitchen appliances. You can also repaint the cabinets and the room to make them look new and pretty. 

Painting

Generally, cleaning and painting your home never gets old. It is perhaps, the most popular of them all. You can repaint using the previous color or you could go with an entirely new one. You could go light or dark, simple or crazy. Basically, the ball is in your court. 

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Can You Trust the Person You Are Dating?

Love

It goes without saying that the dating world can be a little tricky to navigate at times.

With that thought in mind, how trusting are you of the person you are seeing now?

In the event you have your questions about them, it is best to put everything out there on the table. Doing so can make for less tension and let you know if you should stay or go.

So, how trusting should you be when dating someone?

Is the Individual in Fact Available?

One of the trickier pieces of the puzzle in dating someone is making sure they are totally available.

As an example, someone may say they were married for a period of time and are now officially divorced. There is also the chance they say they are in the middle of divorcing someone.

So, are you going to be satisfied with the answer they give you?

One thought is to get online and in fact see if you can find out some evidence one way or the other.

As you can go online if divorced to find out how do I get a copy of my decree absolute, use the web to see the one you are dating.

While you hope they are upfront about being divorced, they may be keeping something from you. That something could also be information outside their divorce status. For example, what if they have a criminal record and you stumble upon it while online? Would you still consider dating them moving ahead?

By doing some online research, you are one step closer to finding out if the person is on the up-and-up or hiding stuff.

Will Finances Come into Play?

Depending on how far along you are in dating someone, the talk of finances may or may not come up.

In the event it does come up, are you going to be in a good position to have the chat or chats?

If you’ve been dating this person for a while now, they may show some interest and you may too of combining resources. This more times than not would mean moving in together.

Now, you may not feel you are at that point where you want to do such a thing. In fact, it could take years for you to get there.

That said you want to be careful. This would be so that you do not end up in a financial bind do to another person’s not being totally honest with you.

Last, you also want to know what kind of character the person you are dating has.

Sure, while you may see some things early on, other actions may take a while to rear their heads. The last thing you want is to be caught off guard by one’s behavior so much so it leaves you questioning dating them.

Along with how they act around you, you can also see if they have any notable trail of social media activity. If so, the hope is they have not posted any questionable comments or images over time.

In trusting the person you are dating, what will make you think twice about moving on with them?

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3 Instant Tips For Reducing Waste In Your Business

Business

Some businesses don’t even realize how much waste they’re producing until they start to look for alternative ways of doing things and see the difference they could make. For this reason, more and more businesses are starting to recognize the impact that they have on the environment, and doing their part by reducing waste. 

Reducing the amount that your business creates can have a hugely positive effect on the world and can even reduce your costs in the process. In fact, many companies would be shocked to find that if they were to weigh their waste, that they are wasting more resources than they ever imagined. 

The great news is that it’s never too late to make positive changes in your business and reduce your carbon footprint.  If you’re ready to start making changes and reduce your waste production, then here are some of the best tips for you to consider. 

Take an Inventory  

The first step to making positive changes is to assess where your business is at. Take a look around and notice the areas of your business that seem to be producing the most waste. Try to establish where you can make the most positive changes, cut back on materials, or even switch to recyclable products instead. Taking a look around and evaluating what kind of changes can be made is the best way to create a plan. 

Ditch Bottled Water 

One of the biggest causes of pollution is due to the petroleum used to create plastic water bottles. Not only does drinking bottled water create more waste and damage to the planet, but it’s actually more expensive than tap water.  In many cases, doesn’t taste that much better. 

Rather than providing plastic water bottles for your company, consider making the switch to reusable bottles or glasses. Simply add a filter to your office’s drinking water source, and not only will you significantly reduce the amount of waste that your business produces, but you also cut back on a major expense. 

Ditch Paper  

Depending on what kind of business you have, you may use a considerable amount of paper. While you may not be able to eliminate the use of paper altogether, it’s possible to cut back. Try to find as many opportunities to go digital as possible. You may even want to consider creating a bit of friendly competition. Try to see which business department can cut back on the most amount of measured paper over the course of the month. Whoever wins gets a prize. An incentive can be a great motivating force to make positive changes. 

Rethink Packaging 

In the United States, packaging counts for a huge amount of produced waste. Rethinking the way that your business packages products can cut down on a considerable amount of waste.  Beyond rethinking your own packaging, you may also want to consider only buying from suppliers whose packaging is earth-conscious as well. 

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ISPMB – Some Truly Fascinating Facts About Donkeys

Education

When it comes to animals there are some in the kingdom which are way more exciting than others. For example if you ask most kids they will probably talk to you about lions and tigers, perhaps even sharks and crocs, but there are some animals which are much more interesting than we may have given them credit for. For this reason we are bring you some truly fascinating facts today, directly from our friends at the International Society for the Protection of Mustangs and Burros or ISPMB, about the humble donkey.

This animal has been used as a work animal for a number of centuries, and here are some pretty cool facts about this simple-looking animal.

Memories

When it comes to the memory we often talk about how elephants are the ones that never forget. This may be true but did you know that donkeys have been proven to have memories which last for over 25 years? Evidence has been seen that donkeys are able to remember places and sounds from as long ago as 27 years.

Big Ears

Donkeys have fantastic hearing and in the right conditions they can actually hear for up to 60 kilometers away. That is a phenomenal hearing range, and it must be because of those big and floppy ears right? Wrong. The truth is that those ears are in place for temperature control, and that is why they are made so long, to keep their head cool in the desert heat. The hearing which they have is because of a huge network of tiny hair sensors inside their ear canals.

Very Inquisitive

A mule is a mixture between a female horse and a male donkey, but the term stubborn as a mule can in fact be used for any kind of donkey. This phrase comes from the fact that donkeys appear to be against the idea of doing something when they are asked. The reality here however is that these are not disobedient animals at all, they do in fact just prefer to check everything out before they take action.

Using It All Up

Traditionally donkeys have lived in hot and arid conditions, and that means that there is usually a lack of food, or at least not exactly an abundance. For this reason the donkey has evolved so that it is able to actually use up 95% of the nutritional value of every single bite that it takes. This is a phenomenal way of consuming food and it leads to very little waste, and maximum energy.

Boys and Girls

The phrase ‘ass’ comes from the latin name for donkey ‘equinus asinus’ and that is why you may have heard the phrase Jackass before. What you may not be aware of however is that jackass is used for the male donkey. Females are in fact known as Jennets, yet you never hear any mention of Jennettass.

There you have it, all you ever wanted to know about the donkey.

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3 Tips from Shiftsmart to Work Better as a Freelancer

Business Careers

Freelancers and independent contractors work within what is often described as the gig economy, and there is virtually no limit to who can freelance. There are freelance professionals working in every sector from coding and web designing to security and retail these days. Unfortunately, the main problem faced by freelancers is that they have trouble finding gigs on a continuous basis.

This, in turn, makes it difficult for freelancers to enjoy financial stability. On the other hand, those that have learned to work the gig economy to its full extent may disagree. Let’s take a look at some of the tips for working smarter as a part-time and full-time freelancer.

Stay Updated with Shiftsmart Job Alerts

Apps are very helpful for freelancers searching for work opportunities. The Shiftsmart Partner app, for example, has been developed for temp workers to find new jobs relevant to their field of work. Part-timers can moonlight by adding extra shifts to their current work schedule, while full-time freelancers can rely on the app to find a steady stream of temp jobs. Simply open an account in the app to start receiving timely alerts about freelance opportunities that are relevant to you.

Improve Your Resume

The average fast-food worker earns about $9 – $10 per hour in the United States, leaving very little hope for any significant, per-hour pay boost for them in the future. Anyone can add more shifts to supplement their meagre income, but they will still get paid in accordance with their qualifications, experience, and field of work. Even with tips, it can make it hard to earn a living wage.

Therefore, if you can expand your resume to include new skills that are relevant to your present field of work, you should be able to increase both your employability and income potential. Understand that if you really wish to boost your income well beyond the minimum or average wage, you might have to switch careers altogether.

Learn an In-Demand Skill

People can do much better by changing lanes and starting their freelance career on a more profitable route. Next, we have a list of better paid freelance occupations available to people who have an adequate resume to take on the respective roles:

  • Cement Masonry – $15 – $20 per hour.
  • Tool and die maker – $20 – $25 per hour.
  • Audio/video technician – $20 – $25 per hour.
  • Analytics (market research and operations research) – $30 – $50.
  • Mobile application development – $60 – $80+ hour.

If you have any special job skills such as the ones mentioned above, or even just experience in one of the several in-demand sectors, moonlighting can augment your present income quite well. In case you do not have a special set of skills, that is not necessarily the end of the road either. Sure, you will have to take jobs that don’t pay as well, but those low-mid wage jobs actually have a much higher rate of temp openings than the higher-paid ones.

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Josh Melick – Why Three Dimensional SaaS Pricing is So Important

Business

When people discuss just how important technology is in the world today, they are mainly focusing non the improved hardware which has been created, and the important software which knits it all together. In fact without software packages and suites so many businesses would find themselves in difficulties. We use software for HR, accounting, machine management, customer management and thousands of other functions within the world of business.

Whilst the customer understands the importance of this software, author Josh Melick believes that those selling the software are missing a beat when it comes to their pricing structure. Josh’s article on his own personal blog lays this out completely, and teaches us why the three dimensional structure is so important when it comes to these pricing plans.

All-Inclusive

Josh first alludes to the dangers of an all-inclusive sales approach, something which many startups rely on in order to get their product out there as quickly as possible. The reason why this poses a problem is that it is a single sale which all-but closes down the relationship with the customer. This prevents any opportunities for upselling in the future and it also means that they are selling a product which is then not able to generate revenue as business costs rise.

One Dimensional

Most SaaS companies will use a structure which features a number of packages such as bronze, silver and gold option. Each of these packages will be broken down based on features offered, yet so many focus on one dimension as being the differential. Josh talks about how the dimension of usage on its own is simply not enough, and it doesn’t allow for the provider to value its products and their true worth.

Two Dimension

The two dimensional approach is that which follows the same structure yet will offer different plans for each based on usage and number of users. This does bring things closer to an optimum level yet in Josh’s view it still doesn’t quite get the right amount of pricing for the product which is sold.

The Importance of Time

Josh talks about the fact that with one and two dimensions, it becomes much more difficult to raise pricing in order to match the rise in costs for the business to keep offering the product going forward. Price hikes are an essential part of SaaS and this is why Josh discusses the third dimension of time. Buying a software package for a single year, means that the provider is able to slightly adjust the price each year to match costs. This is something which doesn’t put customers off renewing and it is something which enables the provider to offer deals to the customer too. If a 10% increase is optimal, the provider could for example offer an 8% increase only, if the customer upgrades their package.

Ultimately this is the best way for SaaS providers to ensure that they can offer a great product and still get paid well for it.

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Yasith Weerasuriya – Things to Beware of When Organizing a Dinner Party

Entertainment

A good friend of mine Yasith Weerasuriya was one of the first people to have ever told me about celiac disease, what it is and how many people suffered from it. This conversation came up because I was organizing a dinner party and one of the potential guests actually had celiac disease. This of course forced me to change the menu somewhat and it is another one of those key considerations to make when you are organizing a dinner party. There are lots of little details which we have to consider about our guests of course, and these are the key factors to keep in mind.

Food Preferences

Naturally the food which they are going to eat is the most important aspect here, and this is why you need to know as much about your guests as you possibly can. For example it may be that they have illness like celiacs, or perhaps they have peanut allergies or an allergy to seafood. The most important thing when finding out about people’s dietary requirements is that you are not preparing anything with will cause them an issue medically. Of course you also want to prepare food which people are actually going to enjoy, but the medical side is the most important. To ensure you have food that people like, the best course of action is to offer up a couple of options.

Friends and Enemies

When it comes to seating people close to each other this is something else we have to think about, especially if they already know each other. I have in fact made the mistake before of inviting people to a dinner party and sitting them next two each other, because I knew that they used to work together. What I failed to realize however is that whilst they did used to work together, they left things on very bad terms indeed. This of course meant that there was a certain mood at dinner which no host wants to have, and I have made sure to always do a little research on people before I set out the seating plan.

Your Time

Another mistake which I have made before is preparing a meal which required far too much attention from me in the kitchen. Whilst the food went down very well indeed, the problem was that I couldn’t really host very well at all because I was in the kitchen the whole time. This is something that I have certainly learned from and I now make sure that I prepare as much as I can ahead of time, and also that I make dishes which can are cooked very quickly indeed. The balance between hosting and preparing food is a tough one to make, but it is possible if you plan well and if you make the right choices.

These are some very important watch outs if you want to have the perfect dinner party, without any hitches.

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