Below are some factors to consider for getting yourself ready to invest in precious metals and ensure you make the correct choice and are fully prepared.

How Much Do You Want To Invest?

One of the first factors to consider before looking at the latest gold price in your location and purchasing precious metals is how much you want to invest. You will need to ensure that you do not invest too much money that can leave you struggling, and there are other factors than the price of the precious metal to consider.

If it’s gold you’re interested in, you will need to first see some gold coins for sale in Brisbane or in your city and learn as much as you can about them before making a purchase. When you purchase from a precious metals dealer, there will be a fee to pay, and you will also need to consider where you will store your investment which can be another added expense.

What Metals To Add To Your Investment Portfolio?

You will also need to consider what precious metal you will invest in and add to your investment portfolio. You can consider various options, and you may also want to diversify your investment and purchase different metals to add to your portfolio. Some popular choices include:

• Gold
• Silver
• Platinum
• Palladium

Depending on the metal you will invest in, you will also need to consider whether you want to purchase bullion or coins, and both are excellent options. Once you have decided what you will buy, in what form, and how much you will invest, you will also need to consider keeping your investment safe.

Keeping Your Investment Safe

You must ensure your precious metal investment is stored safely to safeguard it, and there are various options available. Many precious metal dealers can securely store your purchase, which will incur a monthly fee, or you can also invest in a safety deposit box, which will also have a monthly charge.

Another option you can consider is having a safe installed at home and storing your investment there. However, you will need to have a separate insurance policy to cover you if anything happens to your investment at home.

Finding A Reputable Precious Metal Dealer

The final thing you will need to do is find a reputable precious metal dealer to purchase your investment from, and you will want to shop around. The actual price for the precious metals that you purchase will be the same from most dealers, and where they are different is the delivery costs and commission they charge. You will want to shop around to find the best deal on the commission you pay and the delivery charges to make your money go further.

The above mentioned are the most vital factors you need to consider before investing in precious metals, and you can get more information on the subject that may prove useful through Google search.

Photo by Karolina Grabowska from Pexels

Study The Trends – If you look at the global markets and their reaction to the COVID-19 virus, certain assets, such as currencies or shares, are suffering, and with many small investors moving their wealth into gold, you can expect to see a rise in prices. When you register with an online bullion dealer, you have instant access to all the latest news from respected analysts. When you are ready to make a transaction, you have a secure online connection.

Forge An Alliance With A Reputable Gold Bullion Dealer – You could really use a connection with a registered bullion dealer that buys and sells precious metals and diamonds. If, for example, you wish to start collecting gold coins, you may want to take a look at the range of gold coins Brisbane investors get from City Gold Bullion.

Physical Possession– Simply put, getting hold of your investment is a must, as this minimizes the risk of fraud, plus you have instant access, should you wish to liquidate. If you are planning to buy gold bullion for the first time, make sure you visit the offices of the bullion dealer, and never pay for gold to an online dealer unless you have been to their offices.

Storing Your Gold– There are those who believe gold should be stored outside of the banking system, for obvious reasons, and the majority of small gold investors rent a safety deposit box at a security company, where their investment remains very secure, and you have access during regular office hours. An alternative is to have a concealed safe at home, as many private investors do, which offers the convenience of being close at hand.

Define Your Goals– When looking to acquire any asset, you should know your objectives, which might be that you’re looking for a safer investment than the one you currently have, or it could be that you are looking to leave your investment in gold for at least 5 years. Whatever your goals, once you know what you want from your investment, you are better prepared to make a decision. If you are new to the world of investment, there are a lot of informative articles on how to buy gold that you can find online.

With the current global pandemic and an expected second wave, now is the ideal time to consider investing in gold bullion, and with an online dealer, making an investment has never been easier. The price of gold has been the very foundation of global wealth and is currently enjoying a spike. Gold is looking to be a very wise investment, as currency becomes volatile.

It is, however, possible to save on car repairs and fuel usage by adopting a simple lifestyle that will leave extra bills over time in your wallet.

Here are things you can do to cut back on the amount of fuel your car uses and ultimately save on car fuel:

Always examine your car tyre pressures

This is hard to believe, but inaccurate or inappropriate car tyre pressures will cause your car to consume more fuel. Most people don’t often check their car tyre pressures but auto experts advise it must be checked at least once per month and before embarking on long trips. You can find the correct tyre pressures for your car in the vehicle handbook and maybe on the inside of the fuel filler cap.

Switch off the air-conditioner of your car

Air-conditioner takes a dip into your fuel reserve if you are driving at low speeds. So it is best to turn it off if you are stuck in traffic or driving through a terribly winding road; it is advisable to roll down your window glass to allow fresh air inside when stuck in traffic or navigating a bad road.

Driving fast along a good road with your windows and sunroof down will increase the drag of your car and invariably increase fuel consumption.

Cut down on the unnecessary luggage

Heavy luggage in your car trunk and on the roof rack slows down your car and increases fuel usage. You can reduce your luggage to only important items if you want to increase the efficiency of your car engine and its corresponding fuel-saving capability. Any extra luggage that is not important for your trip will increase drag, so they should be removed from the car to lighten it and improve fuel efficiency.

Avoid sudden acceleration and braking

Sudden acceleration and braking puts your engine to unnecessary labour and increases your fuel consumption. It is best to accelerate slowly and gently to gather speed that stepping down on the throttle at once to jump the car, and it is best to avoid braking every now and down except it is absolutely necessary. Where possible, switch to the fifth and sixth gear for a smooth driving experience to minimize fuel consumption.

Service your car engine always

An unserviced car engine takes it out on fuel consumption. Servicing your car after long trips and quarterly put it in good condition to serve you without any sudden problems. You may also have to be observant of the lights on your dashboard to know when your car is due for service, and do not forget to use only the approved oil grade for your engine to keep it functional and efficient.

Avoid driving at peak traffic times

Getting stuck in traffic is equal to increased fuel usage. If possible, leave home 30 minutes earlier so that you can beat traffic congestion during peak periods. It is also better to use alternative routes to your destination and avoid traffic jams in the process.

If you must commute daily and require the use of your car during peak times, you can consider buying a hybrid car since they use lesser fuel and much better if they have start-stop technology.

Buy your fuel from a cheap retailer

Do not always take the price of fuel in your street for granted, drive around the neighbourhood to compare prices and buy from the cheaper retailer.

Shopping for a cheap retailer does not mean driving for 20 miles to save one penny on a litre of petrol, but you should know what constitutes a significant saving when buying from one retailer to the other.

Buy a fuel-efficient, economy car

There is this belief that Japanese cars are more fuel-efficient than American cars. If this is true and attested to by auto experts, what stops you from buying a Japanese car if you will save half of what you will spend on an American car by it?

Lots of American cars are also fuel-efficient than others, so you might want to consider fuel-economy when considering your next car.

While this sounds wild, do you know you can save a lot of money over time by taking public transports instead of driving around or commuting in your own car? Think about this.

A lot of people keep some bad habits that just depletes the quality of their lives, and sadly, plunges their lives on a consistent downward spiral. That is majorly as a result of some habits I will be exposing you to, that’s if you aren’t aware of its effect on your life already.

Here are four habits that you should try your best possible to rid yourself of if you don’t want to live an aimless life, and constantly live broke.

1. Focusing on the present, putting little thoughts into the future

This is the order of the day. Fun, fun, fun, but not having a plan, purpose, or vision for the future. A lot of people want to watch all football matches, watch all the movies, and can spend ridiculous amounts of time on social media platforms just “having a good time” but this method can be detrimental in the long-run.

Maybe thinking about the future can be real hard work, but that’s the only way to help you better filter your present to give you that future you envision.

2. Spending more when you earn more

It is very common that people are consumed by greed when they have some more money in their possession. This is a habit of poor people. They just want to look rich. Unfortunately, they fail at even pulling that off. So, what’s the point of it all?

Be intentional about your finances instead. Let every money that goes out of your pocket be well calculated. Be also very purposeful about your earning. Make sure that you don’t just hold one job that you don’t think out other ways that you want to rake in more income for your upkeep.

3. Focusing on linear income instead of passive income

This one is what I actively preach against. You cannot work your way out of a job and even if you can (literally) because a lot of entrepreneurs tell you to “work hard”, you are looking at it from a technician’s view, and not entrepreneurially.

It’s safe to say that a lot of people have misinterpreted the rich’s definition of work. They keep slaving away for a boss, and not learning for themselves how to run their own businesses.

Instead, focus on building a passive income. Income that you get even if you don’t actively go to work. This, of course, is not easily built, as you have to put in the time.

4. Upgrading your gadgets

I see this a lot, too. Everyone wants to keep up with the latest toys. They make it a thing of pride to keep up with the latest gadgets of their favorite brands. The thing with this is that it speaks of someone who’s financially irresponsible, and speaks of someone who is driven by “stuff”.

Sadly, people like that always want to get what they want and when they don’t have the resources to get what they want, they go out and borrow some money to take care of that want.

A better approach is to switch the focus of what truly drives you. Switch from acquiring “stuff” to running with a purpose, and you’ll start to enjoy a more meaningful and purposed living.

Whether student loan debt, mortgage debt, credit card debt, business debt, or loans taken from friends – all debts must be cleared off in a lifetime and as speedily as possible, or your children may inherit your debts for another life cycle.

Here then are the 7 surest ways to pay off your debts faster and live a 2020 debt-free life:

1. Formulate a debt payoff strategy

Everyone must formulate a debt payoff strategy for clearing his debts. It is a personal thing, since no debts are exactly the same, and individual situations determine why debts accumulate and how they can be paid off. Your best bet is to create a budget whereby you cut costs here and there to scale back your expenses in order to have a leftover for debt clearance.

2. Pay off the highest and most urgent debts first

In a situation where you owe a series of debts, pay off the highest and most urgent ones first. This will give you peace of mind and the capability to deal with the lesser ones over time.

3. Shorten the repayment period by paying more

If you have a loan that is spread of 12 months, you can help out yourself by completing payment in 8 months or lesser. The only way this can be done is by paying more each month. Let’s say you’re repaying N120,000 over a 12-month period by paying N10,000 every month, you can shorten the period to 6 months by paying N20,000 if your finances allow.

4. Apply all bonuses or found money to your debts

If you earned a bonus for some extraordinary performance on the job, you must apply the extra money to your debts. If you also found some money on the ground across the street, you must also apply it to your debts. Put off the vacation or luxury wristwatch/handbag until you cleared off your debts.

5. Pick up a side hustle

Earning a little money from a side hustle will always enable you to clear off your debts faster. You can monetize your skill by mowing yards, babysitting, cleaning houses, working online as a freelance writer or website and graphic designer – anything that will give you extra incomes that can be applied to your debts.

6. Sell off everything you do not need or use

We all have household items we rarely use and could live without; why not sell them to pay off our debts? Old furniture, outdated electronics, gardening implements, out-of-print books, and car spare parts among others could be sold off to pay pressing debts.

7. Drop expensive habits

If you are used to drinking expensive wines or partying every weekend, then you must drop the lifestyle to clear off your debts. If you must buy every designer clothes and fashion accessories in the market, then you must quit the life. If you must eat lunch at work, then why not prepare your meals from home instead of buying lunch every afternoon and possibly buying for friends too?

Whatever you can do to clear off your debts as soon as possible should be done, because sometimes other emergencies happen and these after our planned ability to pay off our debts in due course.

Here then are key proven and time-tested principles for being in charge of your personal and business finances in the New Year, and perhaps forever:

1. Spend less than you earn

The Number One rule for being in control of your finances is to always spend less than you earn. When you do this, you can put the difference to some savings account and then gradually build up some wealth for other major life purposes.

2. Live a very simple life

Living a simple life saves you a lot of troubles. Wear simple clothes, prepare your own meals and avoid fast food joints, forget the weekend parties, and certainly do away with girlfriends. Let everything about you demonstrate simplicity and you’d be in control of your finances.

3. Save for emergencies, and for your retirement

Put money aside for any life emergencies and you wouldn’t be a victim when they occur. The plan is to prepare in advance for any situations long before they occur. And this also extends to saving for your retirement.

4. Live in your own house

Living in your own house is sometimes cheaper than living in rented apartments or condos. In Lagos, Abuja and Port-Harcourt areas of Nigeria, there are many civil servants living in rented houses and paying between N850,000 and N1.2 million annually. A public service or employee may find it difficult to live within his means if he pays this kind of house rent every year, so it’s better to invest the money in a personal house.

5. Buy an enduring car with fuel efficiency if you must

If you must buy a car, then buy one that is reliable in terms of ruggedness and fuel efficiency. Many cars consume lots of fuel and when you add the bills to household utilities such as lighting and water, then you have a very considerable bill to settle every month. So it is best to buy a moderate car that runs on very fuel to save utility costs.

6. Be good with your neighbours

Being good to your neighbours and building a mutual relationship with them saves you tons of money in the long run. A neighbour will keep an eye on your property while you’re away and can borrow you money when you need it without interest. You can even borrow certain items from your neighbour instead of buying new ones from the local store, saving money in the process.

7. Take up a side hustle – and invest in businesses

Take up a side hustle to earn extra incomes that could be saved up for future needs or even invested in profitable businesses. With an additional source of revenue, you can easily live with your salary since your side hustle will cover up for you when you need extra money for necessities.

8. Ensure you spend your money on critical necessities

You must only buy what is critically necessary for your needs if you must live within your means. In fact, you must avoid impulsive purchases where you spend more than you initially planned for at grocery stores and shopping malls. You must always take a shopping list with you and never buy beyond what is listed on your list.

9. Take advantage of discounts and buy second-hand things

There are thousands of discount coupons flying about the city that you can grab as many as you want, saving thousands of money in the process. Discounts are great for saving money, and buying second-hand items are often best for saving money in the long term. Second-hand cars, used clothing, furniture and anything you can think of are best for saving money.

10. Try to fix residential problems that crop up yourself

If you are always able to repair broken things around the house, then you will make a huge saving in the process. Personally fixing the plumbing, water heater, roofing, tiles, laundry machine and other things around the house will go a long way to putting you in charge of your personal finances in 2020 and forever.

Here then are 7 websites you must visit often if you’re serious about making money online – especially in this New Year:

1. Fiverr

Do you have a skill you can market for a base $5? Then sign up to Fiverr to deploy those skills. If you are able to write a book, edit a manuscript, design a website, research and write articles, do graphic designs, voice-overs, Facebook posts, and any online or offline activities within or an hour, then you can get paid $5 or $10 or $15 and even $50 to get them done on Fiverr.

2. Upwork

Similar to Fiverr, you bid to get available jobs done on Upwork. From article writing to website design and app development, you can earn up to $30 an hour working for several clients and earning a decent $5,000 monthly if you’re good.

You must bid on jobs and once you get popular with clients, then you no longer have to bid since your clients will provide you with ongoing jobs at good pay.

3. Freelancer

With Freelancer, you are never out of jobs. You work from your home and earn a good pay working hours or days for many clients across the world. You bid on projects and once it is awarded to you, then you get it completed and paid after hitting the payment milestone.

The jobs here also range from social media marketing to graphic design and content writing among others. The initial pay per task is not much but they build up with time once you acquire a better reputation on the site.

4. Aliexpress

Aliexpress is a global eCommerce dedicated to any products you can ever think of. It is a marketplace where product manufacturers and retailers sell their products on a worldwide scale.

You can scour their inventory for what to buy for cheap and sell at a higher rate for profit, and you can even get manufacturers to design and produce your own unique products for your personal sales. You buy at very cheap rates and set your own price while selling to others.

5. Swagbucks

Are you passionate about taking surveys online? Then you might as well be paid for it. Swagbucks provides you the opportunity to get paid for online surveys listed by various companies around the world; you get paid for giving your honest opinions by answering simple questions. You can earn up to $50 or more per day depending on varying factors.

6. YouTube

YouTube is not just about watching videos, it is also about making money for video producers. You can create and upload any instructional videos on YouTube and earn up to $10 per 1,000 views if you activate ads and other monetization methods for your videos. If your video becomes popular and goes viral with up to a million views, then you stand to earn huge revenue from YouTube for as long as your videos keep on garnering views.

7. ThredUp

If you have a pack of good clothes you’re no longer using and feel like thrashing them, then you should think twice since ThredUp can make you an offer for them. With this website, you can sell off unused clothes in your closet and get a good percentage of the sales. The more you pack off your unused clothes to them, the more you stand to make good money every time.

1. Establish achievable goals

There is no way you can be rich by accident; the chances of that happening is one to 100. You can surely be rich by consistent planning and goal-setting.

As we enter into 2020, you must actively set goals that are achievable within a space of three, six, nine or 12 months. If possible, you may have to break down the goals into bits so that they are easy to achieve in a measurable manner.

2. Take stock of your current financial situation

If you are poor, you must know how poor; and if you are rich, you must know how rich. Taking stock of your current financial situation involves calculating the monetary worth of your furniture, house, car, and other property.

You must also know how much you have in your bank account and how much you owe to people. The knowledge of your current financial situation will help you mirror how to proceed from where you are.

3. Creating a spending and savings plan

Considering the amount you earn, you must create a savings and spending plan so that you can be in control of your money. With a strict budget, you can evaluate how much you earn and how much you must spend to remain debt-free.

Without a proper budget, you will overshoot your finances and incur debts at every opportunity. The reason for this is that people tend to spend more than they earn due to impulsive purchases and other wanton living.

4. Establish an emergency savings fund

Being in control of your finances demands that you have an emergency savings fund put away in case of unexpected events. With an emergency fund stashed away, you can easily repair your car if it breaks down, take care of unscheduled hospitalizations, renovate your house if it gets flooded, and get other unexpected situations under control without being in debt.

5. Invest diversely

When investing any extra funds, ensure that you do not put all your eggs in one basket. Diversify your investments so that a profit in one area can compensate for a loss in another investment. Putting all your savings into one investment is risky. So diversify them into profitable portfolios with quick-yeilding results so that you can recoup your investment in time.

6. Delete your debt

Pay off all your debts in order to enjoy peace of mind with yourself and neighbours. You can never be in financial control if you owe people money. So pay off your debts as quickly as possible so that you can begin putting money aside as savings for wealth-building ventures. With all debts gone, you can establish a good credit history and enjoy better financial prospects with lenders if you decide to borrow.

Making more money helps you to meet your needs without necessarily reducing your savings, and it gives you peace of mind that you are in control of your life.

Money, sometimes and to some people, bring joy and happiness, and it is the ultimate answer to 90% of the problems mankind faces. Are you still interested in increasing your bank balance every day without much effort? Okay, let’s go.

1. Ask for a pay raise

It might sound funny and even silly, but there is nothing silly about knowing and quantifying the value you bring into an organization. If you are very certain you bring in substantial value to your organization and the company makes tons of revenue as a direct result of your inputs and efforts, then you might as well choose a favorable time and pitch for a pay raise.

If the management actually values your input and contribution to the organization, they won’t have much choice than to oblige you because you are a major asset – and competitors out there might be open to snapping you up. In this way, you have succeeded to increase your hourly, weekly, or monthly payments without any substantial effort or additional works.

2. Acquire more education and professional certifications

You always qualify for more pay when you acquire more education and professional certifications that endorse you as an authority in your field.

More degrees pave the way for promotions and managerial elevations, and don’t forget that the higher you go the cooler it becomes – this means that getting promoted into management positions does not necessarily mean harder work but it sure means higher pay.

3. Diversify your income sources

You always stand to earn more income when you diversify your sources of incomes. Are you aware that the wealthiest or richest men on earth have diversified interests in publishing, stocks, real estate, manufacturing, drilling or mining, transportation, and a host of other diversified sources of multiple incomes?

Do not place your eggs in one basket. Work out multiple sources of incomes and you’d find you make more money than you can spend with the extra put away in sustainable savings.

The secret to saving is in spending less and less until you can’t forebear it anymore.

4. Be frugal with your incomes

You must discipline yourself to spend lower than you earn. You just can’t go about buying up everything you fancy on the market and expect to have something left.

The secret to saving is in spending less and less until you can’t forebear it anymore. Frugality is not just done in one day; you must make a habit of it and try to master your passion for buying things that could be postponed today.

Instead of buying that thing you fancy, fancy yourself buying it next year and then putting the money into savings to enable you to buy it when the price must have come down in the season.

5. Monetize your hobbies

If you love reading, try to monetise it; if you love cooking, see how to monetise it; if you love offering advice, see how to monetise it; if you like making crafts for fun, seek to get buyers for them; if you love fitness exercises, get people to teach and train for money, if you love sleeping, help others sleep better for money – whatever you enjoy doing as a hobby, seek ways to monetize it and make more money that could be put away in savings.

It is worth bearing in mind that they will base the valuation on the car being in top condition. To make sure that you can sell your car for the maximum amount of money, you should take care of your vehicle, and you may even want to make repairs before selling it.

A Full-Service History

If you find out what your car is worth you will want to make sure that you have the full history of the car documented. You will want the service history in full, as well as any repairs that have been done.

When you have the full history of a car, then a potential buyer can take a look at it and see if any significant work has been done, or if there is the possibility of major work being required.

Make Minor Repairs

You may also wish to make minor repairs to your vehicle before you look to sell. You will want to make sure that everything works properly such as lights, electric windows and mirrors, locks, AC, and radio. If there are any known problems, then you may end up getting less when it comes to selling.

With certain issues, such as lights, it is important also for safety reasons, and if you are pulled over by the Police with an indicator not working, it could end up costing you more money!

Give It A Good Cleaning

Nobody wants to buy a dirty car, so before you try and sell it, you will want to give it a good cleaning. It is worth your time to detail the vehicle both inside and out; and when the paintwork is cleaned up, you may see some minor blemishes which you can address giving them a touch-up.

Make sure that the boot is also clean with the jack and spare tire stored correctly. It is worth spending some time making an effort on the inside of the vehicle making sure that you clean the upholstery, carpets, as well as the dashboard.

Change The Tires

If your tires are bordering on being road legal, you may also wish to change them before you attempt to sell your vehicle. It is not necessary to get the top of the range tires, but having full tread will help you to get a little extra cash for your car when it comes to selling.

If you take good care of your vehicle, you will be able to scrub it up so that it looks almost new. Service your car regularly and document everything that you do to the vehicle so that when it comes to selling it, you have a full history to show potential buyers.

If you are selling using an online service, make sure that you shop around so that you can sell your car for the maximum amount of money. You can have cash in your pocket before you know it!