Whether you’re an avid gamer or a dedicated artist in your spare time, our hobbies often have a habit of representing a significant drain on our bank accounts. In an ideal world, of course, we would all be able to fill our downtime with plenty of rewarding and absorbing activities that do not cost the earth, it rarely seems to work out that way.

However, hobbies offer an excellent outlet for all of us. They enable us to forget about the stress and commitments of everyday life, and to take some time to ourselves to indulge in something that we truly love doing. So, if you are wondering how you can make your hobbies fit in with your finances, then read our tips below.

Look for the Best Introductory Offers

While very little in life comes free, there are plenty of opportunities to make the most of offers and deals that make our hobbies that much more attainable.

For gamers, for instance, there is a staggering variety of games available online that offer excellent introductory offers to help you get the most out of your money – including live casino from @Mansion in Canada, which offers new players 100% extra on up to £200 when you sign up.

Similarly, for those who enjoy photography, many of the best photo editing apps will offer ‘try before you buy’ trials that will give you an opportunity to get to grips with the tech – and decide whether it is the right option for you – before you sign up for a significant financial commitment.

Turn it into a Side Business

These days, with the help of the internet, almost any hobby can be used to start your own business. Whether you are keen to invest all your free time into growing a digital storefront, or simply want to make your one of a kind designs and creations available to a lucky few, creating a line of income that supports your passion is an incredibly rewarding and exciting prospect.

Take a look at this article, which offers some insight into the signs that you are ready to turn your skill or hobby into a lucrative business opportunity. There will, of course, be plenty of sharp learning curves to deal with along the way, but with the right commitment and perseverance, there is every chance of success on the horizon for anyone with a passion for their skills.

Teach Others

Again, this is a venture that has been made more attainable than ever with the help of the internet. Teaching others, and imparting the knowledge you have gained over the years, is not only a rewarding experience, but, as you grow your reach, you will find opportunities to generate some income – simply by investing your time and energy.

Consider writing a blog, or creating video content about what it is you are passionate about. From crochet and cookery to woodwork and music creation (and everything in between), you will find that there is already a strong community looking to learn from the experts, and develop their own skills under your guidance.

For gamers, streaming has reached an all-time high, with millions of hours being created – and viewed – each and every month. Signing up to a popular streaming site, such as Twitch, will enable you to develop relationships with likeminded individuals around the world.

Hobbies can be expensive, but they offer an incredibly rewarding experience to us, and should never be neglected just for that reason. There are plenty of options available to anyone looking to save money – or, of course, earn a little extra on the side – while still indulging their passions, and making the most of their spare time.

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No matter how high your income is, if you do not know how to manage your money, you may still end up in a bad financial position. Luxuries such as travel, fancy restaurants, and staycations in hotels aren’t possible without proper financial responsibility.

In this article, we’ve compiled three efficient methods to manage your money so you can spend your hard-earned funds on the things that make you happy. [Read more…]

Image by Gerd Altmann from Pixabay

Regardless of where you live, opening a company is a big step. However, if you’re ready to take that leap of faith, you’ve made the right choice of picking the UAE. Of course, you’ll have to put in the hard work if you want to accomplish your plans, but the UAE’s high economic stability and favorable laws allow you to start a business more easily when compared to its neighbors.  [Read more…]

Nowadays, hotels are getting a back seat in terms of vacation accommodation. This is due to it being expensive. Good thing, there are many alternative options for accommodation, like renting a vacation home. They are cheap, and since you can negotiate directly from the property owner, you can even haggle for the price. [Read more…]

Going through life without keeping an eye on your finances is like driving without looking at the speedometer — or the gas gauge. You need to know more than just where your money’s going. You need to know what your fixed, essential expenses are, how much you’re spending on fun money, and how much you have to set aside for long-term financial goals, like retirement, paying for your kids’ college, or covering wedding costs.

That’s why you need money management software. Money management software and budgeting apps can help you get a better handle on your finances, including avoiding late fees, saving more, and developing good spending habits. And, these days, the best apps track your spending, banking, investments, debt, and credit score automatically, so you don’t even need to keep a spreadsheet.

What Money Management Software Can Do for Your Personal Finances

Money management software is a valuable tool to monitor your finances, reach financial goals, and stick to a budget — and keeping an eye on your finances can help you grow your net worth much more than if you did not.

Budgeting apps and money management software are the modern answer to tracking your spending and finances the way your parents did it, with a spreadsheet, or maybe even with a notebook and a pen. Desktop money management software, apps for your smartphone or tablet, and web-based services can all track your transactions, monitor your account balances, offer regular credit score updates, tell you how your investments are doing, and calculate your net worth based on the value of your real estate, automobiles, investments, and savings, minus the cost of your debts. A good money management software solution will lay all this info out for you in an easy-to-understand dashboard. The more robust desktop and web-based applications will allow you to drill down into the information to see which categories you’re spending the most on, identify wasteful spending patterns, and even generate detailed monthly, quarterly, bi-annual or annual reports.

How to Choose the Right Software

There are so many different software programs and apps for budgeting, investment, and money management that it can be hard to choose the right one for your needs. If you’re just starting out on your budgeting journey and looking to get your finances in order, you might go for a beginner’s budgeting app like Mint or YNAB (You Need a Budget). If you need a more robust solution that tracks spending, account balances, investments, debt, bills, and savings all in one place, with the ability to generate reports and more freedom to manipulate the data in ways that reveal your spending and saving habits, you need a desktop money management software, like Quicken.

Are you at a stage where you need to focus on paying down debt and building an emergency fund? Need some help seeing how the money decisions you make now will affect your financial future? Want the incentive of being able to look back on your progress? Pocketsmith is a good choice for tracking your spending. It offers the option to set up budgets for the day, week, or month, as well as an historical reporting feature for a look back at your progress and a forecasting feature that can help you see where you’ll be in one, five, or ten years’ time if you continue on your current path.

If you’re already in good financial shape budget-wise, budgeting and money management software can help you stay that way, but you may also want to add into the mix an app or apps that will help you grow your net worth with the right investments. Acorn and Bettermints are two popular choices that allow investors to put their money into pre-fabricated portfolios. Stash offers users a little more control — you can choose which stocks you want to invest in, but your investments might not do as well, unless you already have some investing knowledge.

If you’re not using money management software to keep track of your personal finances, you could be leaving money on the table — money that you’d gain from investments, savings, and other solid personal finance decisions. Don’t put your future security at risk. Start using money management software now, and reap the benefits in years to come.

The esports scene is huge right now, and that means there are many games trying to be the next big competitive title. These games fall into different categories or genres, each offering a different experience to both players and spectators. Esports titles are unique in their accessibility to those who watch the competitive scene – something traditional sports can’t always offer. Let’s have a look at some of the biggest genres in competitive gaming and some of the examples of games that make up each.

Multiplayer Online Battle Arena

The multiplayer online battle arena (MOBA) is one of the biggest in the esports arena, offering huge prize pools and millions of players. They’re general complex games requiring a strong knowledge of the game’s systems, heroes, items and current meta game, and for this reason isn’t a very accessible genre to get started in. It often requires serious commitment for new players to become familiar with all the game mechanics and play styles. The premise of this genre is a team-based game where two teams of usually 5 players a team attempt to outplay the other team and destroy a critical building in their opponent’s base. The most popular games in the MOBA genre are Dota 2 and League of Legends, both boasting millions of active players.

First Person Shooter

The first-person shooter (FPS) is a staple of computer gaming and one that has found a huge footprint in competitive gaming. It’s a dynamic genre with many variations and game styles, from solo player vs player kill count-based games to round-based team games. At its core the genre features a view that emulates you looking out of the eyes of the character you play, and almost always the objective is to gun down your opponents or computer-controlled opponents to win. There are so many subtypes in the genre that we can’t cover them here, but popular entries include games like Overwatch, Call of Duty and Tom Clancy’s Rainbow Six Siege. First person shooters are real money earning games and one of the genres offered on Unikrn’s UMode platform where players can wager money on their own performance and make bets on their upcoming games. It adds a level of intensity to these games like no other way could.

Battle Royale

Battle Royale could be classified as a subset of the FPS genre, but because it’s one of the biggest game types on the planet right now, it needs its own section. The basic game design features a huge map where about 100 players will be deposited with nothing in their inventories. By looting buildings and gearing up, they must be the last player or team alive to claim victory. The map is constantly made smaller by using a safe zone that shrinks during play. Fortnite is the best example of the battle royale genre and is currently the biggest game in the world by active player counts. Another good example and perhaps the first game in the battle royale genre to gain popularity is PlayerUnknown’s Battlegrounds.

Trading Card Games

The trading card game is an extension of the cardboard based genre that has been popular amongst players for many years. It’s modelled on games like Magic the Gathering and similar trading card games, but instead of physical cards, it uses digital versions. The core gameplay mechanics involve building decks of cards to play against your opponent in a one on one setting. Usually this involves reducing a health pool down to zero by playing better cards than your opponent. Trading card games are known for their strategy but often include a level of randomness and chance that purists don’t enjoy about the genre. Trading card games are often spin-offs of bigger game universes or mirrored from their physical versions. Big games in the genre are Blizzard Entertainment’s Hearthstone and CD Projekt Red’s Gwent.

Fighting Games

The fighting game has been around since arcades made use of cabinets and games like Street Fighter and Mortal Kombat are the grandfathers of the genre. The game is usually a player vs player style where the objective is to knock out your opponent in a side scrolling view. Games of the genre usually have a vast catalog of fighters to choose from each with a small backstory to enrich the game’s lore. It has seen a resurgence in recent years and now enjoys popularity as an esports title with many players across the world. Street Fighter V is currently the biggest title being played competitively in the fighting game genre.

There are many other genres popular with esports players and spectators alike. Some honorable mentions are sports and racing simulations like the Fifa series of games and real time strategy games like StarCraft 2, whose predecessor, StarCraft, was one of the forerunners in competitive gaming. Whichever genre you choose to play or watch, you can be sure you’ll find a game you enjoy!

“In investing, what is comfortable is rarely profitable – Robert Arnott.”

Do these words ring a bell?

If yes, you’re among thousands of investors looking for a robust financial future without taking risks. With financial markets toppling every other day, the sentiments of the investor across the globe is gloomy. Investing may seem a daunting task in the COVID-19 crisis, but it’s not a terrifying ordeal.

You don’t have to be a Warren Buffet to invest because you can start investing no matter how much you have saved. 48% of working American adults save no more than 10% of their annual income. You can start with this 10% and achieve financial goals to increase your saving.

Smart investment is not a get-rich-quick technique; it’s a way to grow your existing wealth consistently. The investment strategy you choose depends mainly on time for investing, your risk-taking appetite, liquidity needs and investment goals.

In this guide, we have listed five smart ways to grow your hard-earned money even with market volatility.

1. Robo Investment

Whether you use Alexa or Siri, robots have become an integral part of the technological world. And the financial sector is no different. Their latest buzz word ‘Robo-advisor’ has finally joined the mainstream. Robo investing is creating rippling effects because it’s an appealing investment solution, especially for the beginners who don’t know where to start.

Robo-advisor has brought a paradigm shift in the cost of investment management and advice. Robo investment services use intelligent AI algorithm-driven program to select investment for you based upon the following:

• Risk-taking capability
• Expected level of return
• Timeline for investment

Based on these factors and without human intervention, the advisor selects a portfolio of ETFs. Instead of investing in one fund, it creates a diversified portfolio of ETFs, thereby reducing your risk.

Benefits:

• Unfazed by market emotion: These platforms’ decision is based on real-time statistics and not just a single black swan event or short-term market condition.
• Creates a diversified portfolio: It creates a portfolio of products catering to different risk levels.
• Excellent long-term investment: Even with the ongoing pandemic, long-term investment horizon remains secure.
• Low cost: Most Robo-advisors charge anywhere between 0.25% – 0.5% per year.

Statistics: By 2025, Robo advisory market is likely to reach over $16 trillion assets under management, close to three times the amount of assets managed by the largest asset manager.

2. Real estate

According to Andrew Carnegie, 90% of millionaires generate their wealth by investing in real estate. It’s an incredible figure to get you on your feet and start building wealth.

For a long time, the sector has been in the doldrums, with investors preferring equity and the stock market. But the current economic turmoil has changed the game making real estate investment a smart way to get rich. It increases portfolio diversification, provides another asset class, and reduces the risk.

Source: https://unsplash.com/photos/NpTbVOkkom8

Using these three ways, you can make money from real estate:

• Increase in the property value
• Passive income through renting the property
• Profit generated from business activities on the property

Apart from generating wealth, it’s a turnkey solution to your investment strategies because of the bouquet of benefits it offers.

Benefits

• Tangible asset: It’s the best high-value tangible asset as stocks can dip to zero, and the value of your car depreciates over time.
• Increases portfolio diversification: An investment home is likely to offset other high-risk assets’ volatility, thereby reducing risk and increasing diversification.
• Cash flow for retirement: Income from the rental properties can help supplement cash flow for retirement.
• Hedge against inflation: Investment properties are an excellent hedge against inflation. The property’s value rises with rising inflation, thereby protecting you from short and long-term inflation.
• Tax benefits: It provides tax benefits through depreciation, which elevates the returns.

Statistics: According to NCREIF, the return on residential rental properties in the US is 10.6%, and for commercial real estate, the return is 9.5%.

3. Peer-to-Peer Lending

With fixed income paying like peanuts, stock market fluctuating, low-interest rates, and consistently increasing inflation, investors like you shift their focus to peer-to-peer lending or P2P lending. It has now become a mainstream asset class. P2P lending connects investors like you with borrowers through a lending platform.

You can invest in P2P lending in the following ways:

• Invest in a particular loan
• Invest in a portfolio of loans

It’s different from crowdfunding as the latter works on equity-based investment, whereas P2P lending is a debt-based investment. It presumes that the borrower will repay the amount in given time duration.

Benefits

High returns: The returns are much better than other investment types. Some investments can even result in double-digit returns.

Highly-accessible: The online platform offers a seamless transacting experience, which is entirely safe to use.

Reliable credit evaluation: Most platforms use reliable algorithms to verify the FICO score to determine the borrower’s creditworthiness. It results in fewer borrowers not repaying the payments.

No mediator: By removing the banks or other financial institutions, P2P lending ensures that investors get most of the interest paid by the borrowers.

Statistics: The P2P lending platforms have witnessed a 32.5% growth rate from 2014 to 2019.

4. 401(k) Plan

For a comfortable, fun, secure, and care-free retirement, you need to create a solid financial cushion to fund it. With the 401(k) retirement plan, you can invest a part of your paycheck and ensure high-returns after retirement. The icing on the cake is your employer may choose to match a percentage of your contribution. It provides a golden opportunity to save for retirement while lowering the tax burden on the savings.

Achieving your retirement dreams won’t happen accidentally, and now is the time to start investing for a prosperous old age.

Benefits

• Saves tax: Contribution to the 401(k) plan is made before deducting the federal taxes. As these contributions are pre-tax, it reduces the taxable income and you pay less tax.
• Maximum control: You can contribute as much as you want. Plus, you have the flexibility to change the contribution at any time.
• Long-term investment: Instead of simple interest, you get compound interest on the saving. Compounding has a significant impact on long-term investment plans.
• Transferrable: Based on your plan, you can transfer the 401(k) account from one employer to another.

Statistics: As of 2019, Americans have invested $6.4 trillion in the 401(k) plan. The early you invest, the more benefits you will reap.

5. Precious Metal

There is no harm in adding a metallic shine to your portfolio. It not only makes the portfolio alluring but also diversifies the investment, thereby protecting you from the economic turmoil.

Precious metals like gold, silver, and palladium are hard assets and carry intrinsic value, making them a relatively safe bet. Furthermore, since the starting gold has never been worth zero and maintains its intrinsic value irrespective of the market condition.

You can buy precious metal in two forms:

• Buying the physical form like bars, coin, or jewelry
• Through financial products like ETFs, bonds, mutual funds, futures contracts, or stock of mining companies

As these offer different risks and rewards, a small portfolio allocation ensures a larger gain in the long-term. You can harness the volatility of the precious metal to accumulate wealth.

Benefits

• Hedge against inflation: Precious metals maintain or increase their value over time even when the currency’s purchasing power reduces. It works as an excellent hedge against inflation.
• High returns: Due to COVID-19, the prices of precious metals saw a tremendous jump in 2020. It’s an example of how solid is an investment in precious metals.
• Limited commodity: It’s a limited commodity due to which the demand is always high, and it’s less likely to fizzle out any sooner.

Statistics: According to Statista, the return on investment for gold was 235.75% in 2019.

Wrapping Up

In this article, we have listed five smart ways to invest your hard-earned money.

The best investment option varies from individual to individual as it depends on the financial goals and risk-taking capability. While there is risk associated with every type of investment, doing your research and understanding your goals will help you make the right decision at the right time.

Be prepared to do your homework and search for an investment option that fits your long-term and short-term investment goals.

Investing in the future is not easy, but it’s worth the efforts and pains. Using any one or all the above smart investment ways, you can provide financial security to your loved ones and live a tension-free life.

Have a judicious mix of investments while keeping time-frame, taxation, and risk in mind.

Start investing today for a better future tomorrow!