Every time you hear news of broke musicians, it pains you that you will no longer listen to the great voice you grew accustomed to. Yes, even musicians get broke. But how is this possible with someone who was making millions of dollars in a single year?
Financial management is not an easy thing. You could make so much money and yet die a pauper. But that is not what you want for your music career, right? That is why these tips for managing your finances as a musician should find a favorite spot in your must-read stuff:
Save as much as you can
Saving is not easy, but you should get yourself into the practice of saving. Financial experts recommend that you set aside at least 10% of what you earn for saving. You can do better than this. Save as much money as you can. As long as your needs and those of dependents are taken care of; the rest of your stash should go into savings.
Keep a separate account for your music
It is tempting to have all your money in one pool. After all it is all yours. But that is a poor financial practice. You should have a separate account for anything to do with music. It will be easy to
account for what you earn and how you spend it. Have a plan for this money and only use it when it is absolutely necessary.
Stay out of debt
Earning a lot of money does not mean you will be 100% free from debts. Even the richest person in the world has some of debts. But as much as debts are inevitable, you should try hard to stay out of them. Budget for the little you have for all your needs. If you could stay with zero debts, the better it is for your finances.
Join the right musician societies
Musician protection societies not only champion for your financial rights but also train you on how best you can use your money. Find out about the best societies for people like you and take advantage of the financial education you can get from there. There are financial experts in these groups that will help you with investment decisions and how to keep your money tap running.
No one has so much money that you never need a budget. From someone with a few dollars to multi-dollar billionaire, every one of them needs a budget. As a musician you have to budget for your money. Sit down and list all your immediate and long term needs. Give priority to the most pressing needs. Always make sure some of the portion goes to saving.
Do not let your fame ruin your finances. Always have a financial discipline and you will never lack for anything. It is very sad that despite all the big money gigs you performed, you will go down as a musician who could not manage their money. Thankfully, these financial management tips just let you into the secret of taking care of your money.…
Payment protection insurance otherwise known as PPI was a very good idea. It sounded precautions against misfortunes that would limit your ability to pay back your loan. With a PPI policy, you had very little to worry about the inability to pay personal loans or credit card payments due to redundancy, illness, or incapacitation. Regrettably, as much things look perfect of paper, it was never the case. A majority of PPI policies were mis-sold and never helped the policyholder at their point of need.
Mis-sold PPI claims
Banks and financial institutions sold thousands of PPI policies on personal loans or credit card payments. They did it to unsuspecting applicants, whom they knew, or ought to have known, would not be protected by these policies. For instance, PPI cover against unemployment is not available to people who are self-employed. Well aware of this and other facts, banks and other financial institutions went ahead and sold this to self-employed loan applicants. Students and pensioners also found themselves on the receiving end.
Well aware of this fact, most people have now realized that they had been victims of a mis-sold PPI policy. As such, behind the massive outcry, most people have lodged claims for compensation against this mis-spelling. Making a claim should not be complicated. Here are a few tips that will see you get your money back.
Write To The Bank
The first thing to do when you suspect that you are a victim of this scandal is to write to the bank or concerned financial institution. At this point, you only need to write them a simple letter indicating that you are convinced the PPI you paid for had been mis-sold. You should also provide them with salient information about the transaction and wait for their response.
Financial Services Ombudsman
If the banks fail to respond or reject your claim, the next alternative should be to reach out to a financial services ombudsman. The ombudsman is legally tasked to investigate this matter on your behalf. If you have a case, they should also bring the bank to book.
Consult A PPI Claims Company
The final and probably the best option is to pass it to the best ppi companies. With them, you are only required to present your case, let them validate it and pursue the claim for you in case you have a valid case. As much as they charge a commission, they also bring in the aspect of convenience and effectiveness is presenting your claim.…
Debt is a word that some of us know all too well. There are a lot of reasons why this happens to us. It could be from a job loss or just because you spent more than what your income is. Whatever the reason there is, Debt Help UK can help you get back on your feet again. The advisors will sit with you, go over all your debts, and show you how you can reduce them fast. They aren’t a loan company. They will call your creditor and explain your situation. Most lenders will work with debt services.
How to get back on your feet?
Make a list
Write all your bills down, and make sure you don’t forget any of them. Put down all your sources of income and the amount of money that you get. Make sure to leave you some money left over for any emergency that may come your way.
While you are trying to pay off your bills, it would be a good idea to stick to a tight budget. This seems a little extreme, but it is the only way to get the bills paid off.
If you don’t make enough money, then you should start looking for a better job. You could even try to find a part time job to help you pay off some of the bills faster. If you have a family, then you can see if they have some kind of assistance that could help you out till you get back on your feet.
The government has a program that will assist with rent or food stamps. They even have programs that will help reduce your electric and gas bills. If you really want to get out of debt, you will do the leg work to get as much assistance as you can.
Learn from your mistakes
We have all gone down the debt road before. Some of us will learn from it, and some will keep getting themselves right back into debt. There are a lot of people that will never see a debt free life. The most important thing you should do is never forget where you came from and how hard it was to get where you are now.
Do not spend more than what you make. If possible, never use credit cards; always pay in cash. This way, you won’t ever pile up all those bills.…
Forex trading can be easy and profitable with adequate knowledge in this field. However, even with thorough research, forex trading may not be that easy especially if you are trying it for the first time. Probably, this could be due to lack of a practical experience. Fortunately, today many brokerage firms offer free learning through demo accounts. This will allow you to learn the skills required in this field or have a chance to perfect your skills. Best of all, during the learning sessions, one does not use his or her money.
Here are a few benefits of demo accounts.
Opening and using this account is free
One key benefit of using demo account is that it is free. One is not required to pay even a single coin when creating this account. Forex brokers have a free demo account. They use this account to train individuals with a desire to venture in the Forex market or individuals wishing to perfect their trading skills. As such, you should take advantage of this in your quest to understand the Forex market.
There is no deposit bonus required when learning Forex trading basics
It is hard to invest in any form of business without really knowing how the business runs and this is no exemption with forex trading market. With the use of Forex no deposit bonus, you can start trading and be active in the forex market without depositing any amount of money. With demo accounts, the fear of losing will never be part of you as you are allowed to experiment all options until you start operating a live account. Go through the various Forex brokers review to learn from the ones with the best bonus deals.
Testing out strategies
Would you wish to examine the different strategies you have in mind? Are you an experienced trader? If yes, you too can also use a demo account. A demo account is a good platform for trying out different strategies without risking your money it gives one the chance of making as many errors as possible using of demo money. Once you learn, investing the actual funds will not be a hassle.
With the use of demo accounts, you can comfortably invest in the Forex market once you arm yourself with the right skills. Ideally, the best way to learn is by working with forex demo account australia. The fact that you do not pay anythings makes learning easy and stress free.…