Budget from a Self-Employed Perspective

Welcome to a short POSITIVE round up of the main Budget of the year, from a Self-Employed perspective.

The short answer is there is not a lot of change that is going to happen today, in terms of business.

The very exciting news, is the Chancellor talked about innovation and technology and how he wants to support the businesses of this country. Which is always good to hear.

He was aiming at high growth, as he is trying to improve the productivity of UK, which is a bit flat-lining at the moment.

If you’re planning to grow your business, now is a fantastic time to do it.

A couple of technicalities! If you pay business rates or capital gains, then it is worth checking out the small print next week, when the journalists and accountants have had a chance to go through it.

For the rest of us, if you have a van your fine. If you have a diesel car, then they are increasing the duty slightly. Fuel duty overall is staying the same.

So it is quite an exciting time for the future.

There is nothing detrimental in the budget for the self-employed, which is really great news.

To increase productivity, I am going to sign up for fibre-optic broadband, which is now available in my local area.

If you liked this explanation and would like more explanations of money.

Please go to iexplainmoney.co.uk

All the best, Jenny

 

 


It’s Black Friday next week…


 

It’s Black Friday next week. Friday 24th November 2017.

 

It is also the Autumn Budget, which to be honest, I am a bit more excited about.

 

I will give you a short, positive, round up of the Budget.

It is up to you to do some thinking about Black Friday!

 

Yes there probably are deals.

I would go to MoneySavingExpert.com for the best deals and to find out about codes and coupons.

 

Thinking about it now.  Is there anything you need to buy, or planning to buy in the next 6 weeks?

Because if you are, it worth looking at it next Friday, even if it is just free delivery.

 

Don’t worry if you don’t get all your shopping done on Friday.

I am sure local businesses will really benefit from the shopping you do in December.

 

Enjoy, Jenny

 

 


Intuition versus Logic in Business?

Intuition versus Logic in Business?

If you want to be wildly successful, in the business of your dreams, you do actually need both.

 

Intuition is creativity, inspiration, passion.  It all sounds very exciting.

 

Logic is work-ability and day to day practicality.  It ensures you make money.

 

Not so exciting for many people!

 

In fact, we tend to go one way of the other.

 

If you do want to be wildly successful,

then focus your time and money on both intuition and logic.

 

For support, contact me, Jenny@jennybracelin.co.uk

 

Thank you, Jenny

 

 


£148 investment for £6000 back, not a scam, just very unsexy!

£148 investment for £6000 back – not a scam, just very unsexy!

 

I have spent a fascinating week looking at Her Majesty’s Revenue and Customs (HMRC), the tax office website!

A good time to remind you about National Insurance (NI) and the State Pension.

 

Don’t switch off, this is the best investment you will ever make!

 

£148 gets you £6000-8000 a year, once you reach the right age.  For the rest of your life.

That is a fantastic investment.

 

Yes I am talking about the state pension and what you are entitled to.

 

At the moment they are transitioning how they treat self-employed people.

 

There is a window of opportunity.

 

You have always been able to back pay National Insurance up to 6 years, for years you have missed.

 

Currently it costs you £148. Next April it is likely to cost £730 per year.

 

So this is a great time to do it.

Go to the Gov.uk website or Call 0345 3000 168 for a pension statement

 

If you not sure because you have been part-time, a mum or out of the country – DON’T IGNORE IT, or worry about it – GET A STATEMENT and find out what the situation is.

You can decide from there.

 

Well worth looking into – the best investment you might ever make.

 

All the best, Jenny

 

 


2. How to Be Your Own Business Adviser – The Money

 

2. How to Be Your Own Business Adviser – The Money

Who Are Your Best Customers?

It seems like an obvious question and often people tell me. But when I look at their figures, I find the answer is something different to what they thought!

 

Quite interesting. (see my post on logic and intuition in business for why this happens).

 

Today what I would like you to do is to look at your figures and find out who your best customers are?

 

What I mean by BEST, is the people who pay you the most money, over a period of time.  Whether it is a week, a month or a year.

 

Often I find it is the quiet ones.  The ones you don’t really think about?  They pay you regularly, on time, enjoy what you do and refer you.

 

Those are the customers we are trying to find.

 

Look at your figures and add up how much each customer pays you – you will be surprised at the totals.

 

If you don’t have figures, don’t worry about it.

I have a 15 minutes bookkeeping course, that will talk you through how to set up your books.

 

My name is Jenny Bracelin, thank you for watching.

 

 


Don’t forget to Be your boss!

How to set a simple money goal you can actually achieve.

In our house, if we achieve our money goals, plus a little extra, then we get a take-away. Otherwise we have to cook.

 

Take aways might not be your reward?  Giving yourself free or low cost rewards on a regular basis is extremely motivating.

 

If you work for yourself and don’t have a boss.  No one else is going to give them to you, so you need to do them for yourself.

 

Today we are talking about goal setting.  Whether you call it dreams, targets, promises, whatever word motivates you, it doesn’t really matter.  It is about setting a simple weekly goal, that’s achievable, possible but a little bit of a stretch.

 

For example, if you are just starting up, setting the monetary amount of one client a week is probably enough.  Or if you sell products, if you are selling 10 a week, make it 12.  Quite often it is about consistency, achieving that money target week in, week out.

 

When you do, give yourself that little reward.

 

Why do it that way? Particularly if you know that target is not enough to live on.  But you need to start somewhere. Starting now with a weekly target, builds that money goal achieving muscle.

 

Plus it puts you in a really positive frame of mind.

 

When you are feeling positive about money, it makes a huge difference.

 

You can change it in the future as your business grows.

So think about it, on a Friday you might be thinking, I haven’t quite reached my goal.

 

It can be quite fun, thinking how am I going to reach my goal and the satisfaction of achieving it.  Or if you have had a really good week, having the afternoon off and enjoying yourself.

 

If you would like to talk about setting your money goal, or money generally?  You can book an appointment with me for a 121 consultation, either via Facebook or my website.

Thank you

Jenny

Entrepreneur, Business Adviser, Money Coach

 

 

 


Where Does All My Money Go?

Where Does All My Money Go?

Ever wondered why, no matter how much you earn, there is never enough for you?

 

Well I am going to explain that today.

It’s funny, once we set up a standing order or a direct debt, we kind of forget about it.

 

What we actually spend half our money on is what I like to call “essentials”  water, food and shelter.

 

Once we have set up that direct debit for our mortgage or rent.

We come home, transport ourselves somehow magically.  Lay our heads down knowing we have somewhere warm and dry to sleep, somewhere to wash ourselves, wash our clothes, cook a nice dinner, even plug in our phone to charge.

Yes that does take up about half our money, 50%.

 

Personally I think it is a good investment, but I do my best to keep the costs down.

 

In America, that is one of the reasons for ‘Tiny Houses’ where people say no, I don’t want to spend that money on housing, I want to spend it on travel and technology, but it is your choice.

 

What about the rest of our money?

 

Well on one hand, half of that, 25% goes on debt payments or savings, depending on your personality.

 

The other half, 25%, goes on things we get really excited about.

I am talking days out, I am talking delicious food, I am talking getting together with the family, birthday presents, Christmas, holidays, even just a decent phone.

And we are not even talking vices, wine, chocolate, smoking, or whatever else you do?

 

Maybe that explains why, no matter what you do, this is only 25% of your after tax income.

That’s why it never seems to stretch as far as you hope it will!

 

So hopefully that answers the question, where does your money go?

If you would like some help, message me on Facebook, or book one of my workshops on Money Mastery.

 

Thank you for watching, Jenny

 

 


What Do I Need to Do at the End of the Month?

 

What to do at the end of the month?

 

People spend hours worrying about money. It really isn’t necessary.

The first thing to do is to get reality.

 

To find out what is actually happening and that is what we are talking about today.

 

The first thing:

Add up all the money that has come into your business.  All the money in.

The second thing:

Add up all the money out from your business. All the costs.

Yes the third thing:

Take away the money out from the money in, so you are left with the difference.

Hopefully it is profit.

If it is not, don’t panic, at least you know the figures and you are out of denial.

 

Otherwise you are just loitering in denial and suffering!

 

Working out your figures, is the first step.

 

Then if you want to be a bit more sophisticated.

 

  1. Ask yourself what worked this month? What brought the money in?
  2. Or what didn’t work, what did I spend money on, that was more costly than I thought?
  3. You can then decide what you are going to do differently next month.

 

Also the perfect time to make sure everyone has paid you and you have paid all your bills.

 

Plus can you cover your bills for next month?

 

So it is quite simple and usually takes less than an hour.

 

It doesn’t matter whether you are doing it on a calculator and the back of an envelope or you have a sophisticated accounts system.

 

I don’t really mind as long as you know those 3 figures.

 

Your money in, your money out and the difference.

 

That’s it for this month, at the end of the month, enjoy.

For help with simple bookkeeping

 

All the best, Jenny

 

 


Why You Resist Saving Money?

Why do you resist saving money?

An interesting question, that I have had lots of questions on this week, so I thought I would do a blog on it.

It is not just saving money we resist, but we resist change generally.

We are really happy in our comfort zones.

It takes a lot to get us out of those and in to doing something new.

 

For example, I was really happy paying £30 a month for my mobile phone and have done so for many years, more than 10 years.  It was only when I started paying £38 for my new iphone, I was bit uncomfortable.

Then a friend said to me, she only pays £5 and I was “she is tights”, she’s not.

Or “she probably doesn’t have data” she does.

 

Instantly, I didn’t want to admit that maybe I could have got a better deal and it was my loss and not hers.

It wasn’t till I lost the signal on my mobile phone and couldn’t hear people, that I actually did something about it!

 

Even noticing they charged me twice for one month didn’t do it.

In less than an hour, I have managed, with the same supplier to get a better deal, improve the quality of the call, for more data, text and calls that I have ever used for £5 a month.  I was amazed.

Not just that, I got £60 refund, which effectively meant the first year was free.

 

A few years later,  I am still paying £5 a month, saving £300 per year.

 

I haven’t had to review it every year, which is always nice but I realised other people are missing out.

I wanted to let people know that it is possible with the internet changing so fast, to save 100’s of pounds on those bills, you think you have to pay, as opposed to those things you want to pay.

 

So my challenge to you “How much can you save?”

 

I would love to hear how much you have saved.

 

I also know you need to be moved from that state of comfort to discomfort, in order to have it happen!

 

So I have scheduled a workshop in 3 weeks time, on Saturday 15th July.

If you haven’t saved at least £100 by then,  come to the workshop.

I will motivate you and actually help you do it as part of my Money Mastery Workshop.

 

I really want us to spend our money how we choose.

 

Whether that is paying off debt, going on holiday or just a really nice day out?

Save the money on things you are not really interested on buying but you have to!

 

Here’s the link to the Money Mastery Workshop.

Thank you very much for watching, Jenny

 

 


3 Things I Learned Going on Trips with Smart Phone Travellers.

 

3 Things I Learned Going on Trips with Smart Phone Travellers.

 

1 It’s a holiday, don’t plan on working.

I had grand plans to record videos but once in holiday mode, even checking emails was a chore.  Enjoy your holiday or trip, there is plenty of time to work, before and after.

 

2 Trips are about enjoyment not money.

Shopping at food markets and travelling by local buses enriched our experience. Surprisingly, £20 a day was doable and reminded me of my younger days, backpacking.

 

3 Set up a data allowance on your phone before you go.

Which direction? Was quickly answered using google maps and so convenient.  Plus being able to check what’s on, opening times and to let people know where you are.

Incredibly handy.

 

Bonus tip – only take the essentials

And check airline luggage rules, as they keep changing!

Have a wonderful summer.

Jenny

Photo is Lake Cuber in the mountains of Majorca