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Jul272022

How To Discuss Finances With Your Family To Reduce Your And Their Anxiety Levels

FinanceBy Espresso Education July 27, 2022

Whenever an individual is meeting with financial planners to discuss their finances and manage them, that person might overlook the fact that their financial situation affects more than just them. Whatever levels of stress and anxiety they have relating to their finances and the potential for that to seriously affect both their mental and physical health, it also has to be membered that other members of their family may be adversely affected too.

Obviously, each person’s circumstances will be different depending on their age, marital status, and domestic situation. Some will be married, living with a partner, they may also have children, and there are those whose parents live nearby.

In all these circumstances, and any other you might think of, when there is financial stress affecting one member of the family, it can negatively affect them all. This does not just apply to the financial health of the family, but as has been well documented, including in many medical journals and texts, there is a direct correlation between financial stress and poor mental and physical health.

Whilst talking to a financial planner is a great first step in trying to manage your finances, given that their advice and the financial plan they suggest will impact all in your household, you must be open with everyone affected. It is worth mentioning that even the act of sharing concerns with others can bring some relief to those bottling up their worries and concerns about their finances.

As for how you talk to your family about finances, be it yours or there’s it is not a case that one size fits all. In other words, depending on your relationship with each person in your family who may be affected, you should talk to them in a way that best helps reduce their anxiety related to the financial position in question. Below are three examples of what we mean.

Mar162018

Why A Financial Planner Can Help You Increase The Value Of Your Property

FinanceBy Espresso Education March 16, 2018

There are several reasons why you might want to carry out improvements and renovations to your home and garden. DIY could be your passionate hobby, you might be bored with how your current home looks or you may want to increase the value of your home. Whichever it is, and especially if it is the latter, you should first get the advice of a financial planner to help ensure everything relating to the financing of your project is thought through beforehand.

This is especially true if the main reason you are embarking on this home renovation project is to increase the value of your property. This applies whether you plan to live there long-term, or are looking to sell soon and want the best possible price for your home.

The multitude of possible home and garden renovations, all come with as many different costs so it is vital that in conjunction with your financial planner you not only establish a budget beforehand, but also consider the return on your investment too. This is where you will want to decide whether you want to see the biggest dollar amount increase in your property value, or the biggest percentage return on investment.

Oct22017

What to do Before Applying for a Binding Financial Agreement

Finance, LegalBy Espresso Education October 2, 2017

A binding financial agreement is usually sought from the courts when a relationship has broken down and the parties have divorced. In some cases the distribution of assets can be decided between the two parties without recourse to a court decision on the matter, but most often there is no agreement, so the matter must be decided by the Family Law Court and both parties should be represented by experienced family lawyers such as Robertson Hayles.

However, you can’t simply apply for a court decision as soon as the divorce is final. First of all, seek advice from a family lawyer and if this is too costly for you, there is a free legal service available through the Family Relationship Advice Line or the Legal Aid Service in your state.

Using a dispute resolution service

The Family Law Courts require you to have genuinely attempted to come to an agreement through a dispute resolution service. The benefits of going this route are that you have more control over the process and it is much more affordable, not to mention quicker. So you can get on with your new life much more quickly when you work out an agreement with these people.

Feb222017

Tips for Increasing Your Property Value

DIY, Finance, House & GardenBy Espresso Education February 22, 2017

There is no doubt about it, landscaping increases the value of your property. Not only does it make your property look beautiful, it shows everyone that it is a well-cared for property. If you wanted to buy a property you would certainly be less interested in one that had long, straggly grass, half-dead shrubs and weed-filled gardens. You would even suspect that the roof might leak, just by looking at the garden!

Whether you are selling your home or not, it is easy and fun to get your outside area into great shape, especially knowing that the value of the home will rise by up to 11%, as discovered by a Michigan University study. Here are some tips that will provide good value in your landscaping or garden maintenance efforts.

Create edgings around your garden and lawn. This can be simply done by digging a narrow edge with a spade, or you can use bricks, bush rocks or other media. Defining the edges somehow makes it all look so much tidier.

You can use plants for many things apart from just beauty. They can screen an ugly fence, give privacy from nosy neighbours, add cool shade and even create a fence. Purchase mature plants from a nursery if you can’t wait for that hedge to grow.

Mar182013

Tips on Budgeting for Your New Home

Finance, House & GardenBy Espresso Education March 18, 2013

Everyone would love to be able to purchase their own home, but these days it seems to be getting more and more difficult to save enough for the deposit, let alone to pay off a mortgage. Saving for a home can be done, but unless you are very rich, it usually takes some serious budgeting efforts on your part which will affect everyone in the family, not just yourself.

There are many ways to save money and setting a goal over some years will make it easier. If you can’t stick with budgeting for this small time length how will you do it for the 20 or more years it takes to pay off a mortgage?

Oct22012

Ten Tips for Buying Your Dream Home

Finance, House & GardenBy Espresso Education October 2, 2012

If you are tired of renting you may be thinking about buying a home. While this is a big decision and a big responsibility, here are 10 tips to make the process go more smoothly – and to help you work out whether you can really afford to buy a home.

Use online tools to work out the weekly cost of a mortgage. You also need to add in other costs such as insurance, solicitor’s fees, government charges, interest and other bank charges. Only when you know you can afford those repayments will you be able to go ahead.
It’s wise to get pre-approval for your loan so you can move quickly once you find something you like and can afford. It could make the difference between success and missing out.

May122012

Bought a New Home? Beat the Removalists

Finance, House & GardenBy Espresso Education May 12, 2012

When you buy a new home the decision is usually made taking into consideration your budget and your lifestyle needs. Even if you love the look of your new home, you may want to change something before you move in, so don’t book Brilliance Removalists Melbourne too far ahead of time. In fact, it’s a good idea to go through your new home before you move in, jotting down notes about what you don’t like and can afford to change.

While the house is still empty is the ideal time to have any renovations done because you won’t have to move furniture around. And of course, you won’t be living there so the noise and dust of the renovations won’t drive you mad. So what kind of renovations are likely? Even simple ones can make a difference to the kind of life you will lead in your new home.