Going abroad? Prepare and secure your home and vehicles

Going abroad? Secure your home and vehicles

It’s holiday season! Perhaps you’re one of the lucky Brits escaping the UK for a getaway abroad this summer. There is always plenty to think about – getting your passport ready, making sure the weight of your luggage is below the allowance, packing the essentials. But one thing we may often neglect to think about is whether your home and vehicles are safe when you are hundreds of miles away. 

You want to be able to focus on soaking up the sun and going for leisurely sea swims. A sure way to ruin your tranquillity is to find out something has happened whilst you are away. A great way to keep anxiety and stress at bay is to ensure you have left your home and car in a safe position. 

According to experts at A-Plan Insurance, here are the top tips to plan for the safety of your home and vehicles this summer. 

• Home preparation
• Vehicle preparation

Home preparation 

Clean your home 

It may seem impossible to keep your home tidy in the run-up to your holiday. However, doing little and often can help with the stress of this. Clean one or two rooms a day in the week leading up to your holiday. Hoover, disinfect and tidy each room. Why do this, you may ask? Well, there is nothing more stressful than coming back to a messy house. That’s one way to shatter the post-holiday haze. 

Ask the kids to help by getting them to tidy their own spaces. Perhaps you could reward them with a little holiday spending money, or an ice cream on the beach whilst you are away. 

Utilities and appliances 

Make sure you unplug all unnecessary appliances. Not only will this save you on your energy bills, but you reduce the risk of electrical fires or trips. This will keep your mind at ease whilst you are away. 

Switch off your water. New homes may be less likely to have leaky taps, but it’s a good idea to turn off the water system in your home when you go away. Not only will it reduce the chance of leaking or floods, but it’ll save you money. 

Check your boiler, too. You may not be keen to turn it off completely but see if there is a holiday mode setting on your boiler. Many new boilers have this function. If not, ensure your heating is turned off to save money. 

Sort your food 

The kitchen is the heart of the home and leaving it clean and prepared for your return will be a godsend when you arrive home shattered after hours of travel. You’ll thank yourself in the long run, even if it is a huge chore. 

Firstly, empty out your fridge. Coming home to a fridge full of mould and foul smells is enough to ruin anyone’s mood. Throw out or give away food set to go off when you are away or put anything you want to keep in the freezer for your return. 

You may be too exhausted post-holiday to go shopping for a few days – so stock your freezer with a ready meal or two or prepare some meals to freeze for when you are back. Get some snacks for the cupboards and a carton of long-life milk for that all-important cuppa. 

Schedule a food shop to arrive when you are back. You’ll have more time to unpack, reset, do the dreaded holiday laundry and prepare for work. Even if it’s not your usual preference, you will likely thank yourself for thinking ahead, especially with the kids whinging they are hungry, and you have an empty fridge. 

Maintenance 

Ensuring your home is as secure as possible will deter burglars. Making a property almost impossible to get into means you’re less likely to come home to a break-in. It’s also beneficial to stage your home, making it look occupied and as if someone is home. 

If you have a garden, mow your lawn before you go away. Overgrown grass is an indicator your home could be empty, so make sure the grass, particularly any at the front of the house, is given a chop. 

Turn off any outdoor lights. Outside lights that are left on all day may arouse suspicion as to whether your property is vacant. 

A build-up of post could also indicate an empty home. Make sure your post box is empty before you leave or ensure the state of your mailbox is not visible through any windows. If you are expecting any deliveries, divert them to a neighbour, or cancel them until you are back. Don’t leave a note on your front door telling the delivery men you are away and to leave with a neighbour! 

Set your alarms before leaving, lock all your doors and hide any valuables from the sight of windows. Secure your outbuildings too, lock sheds and secure garages. Keep any tools locked away safely – anything left out could be used to break in. 

Vehicle preparation 

• Apply a steering wheel lock: This method of protection against vehicle theft is one of the easiest and cheapest ways to avoid this crime. They offer an obvious deterrent to any thief and a locking system that prevents the turning of the wheel, which means if they do manage to get into your car to steal it, they won’t get far. 
• GPS Tracker: A tracker is a great way to ensure you know your vehicle’s whereabouts at any time. They can connect to your smartphone, making it super accessible to view while you are sitting at the beach. 
• Wheel clamp: Another visual deterrent that will prevent your car from going anywhere is a wheel clamp. It will also put off any chancing thief as it would take a long time for them to try and remove it, posing more risk of being seen or stopped by neighbours and passers-by. 
• Key signal blocker: One of the most common ways vehicles are stolen is by duplicating and cloning the signal from your key fob. To reduce this risk, you can purchase a key signal blocker lined with special isolation that prevents the frequency of your key from being duplicated, reducing the risk of your vehicle being stolen. 

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Have you been mis-sold life insurance? You could be owed THOUSANDS

Have you ever cancelled a life insurance policy because the monthly premiums increased unexpectedly? If so, you could be owed tens or even hundreds of thousands of pounds in compensation. This is because you may have been the victim of mis-sold life insurance. 

Have I got a claim? 

In recent months, it has come to light that several well-known UK insurance companies have mis-sold a certain type of life insurance to customers. In doing this, they hid the fact monthly premiums would be increased substantially, and for many, the price increases have been astronomical. 

This forced many customers to cancel their policies due to the monthly payments becoming unaffordable. After cancelling, the money put into the insurance policy was lost, along with the comfort of knowing loved ones would receive a payout upon the policy holder’s death. 

How can I get my money back?

This is clearly unfair, but WLI Claims can help. Set up by a leading UK law firm, WLI Claims is working on a no-win no-fee basis to help those affected claim compensation from their insurance companies.  

No-win no-fee means just that; you will not have to pay for any costs or fees unless you win. 

If you or someone you know cancelled a life insurance policy due to an unexpected rise in premiums, click here. Enter a few simple details and WLI Claims will be in touch. 

The origin of WLI Claims 

WLI Claims was born from an experience that may be similar to yours. A mis-sold life insurance policy, thousands of pounds lost and feeling wronged.

“A number of years ago I took out a life insurance policy with a well-known life insurance company. I did this to support the financial future of my family – after all, the policy was guaranteed to pay out on my death as long as I maintained my monthly payments. Having gone through the documents, I signed up with the understanding that my monthly payments would remain consistent during my lifetime and that my family would be paid when I died.  

“Sadly, I was mistaken. After ten years of paying for the policy, I noticed that the monthly payments started to increase. Little by little initially, so I didn’t really pay any attention until I eventually noticed that they had significantly increased from the original figure quoted. Despite being a retired solicitor and reading the documentation carefully, I had not noticed anything in the sales material to suggest that after a number of years my monthly premium payments would go up every year as I got older.  

“When I queried this, I was informed that if I decided to cancel my policy, I would lose virtually all the money I had paid to date. And furthermore, if I wanted to maintain the monthly premium at the previous rate, the guaranteed pay out on my death would be adjusted and it would be just a fraction of the amount I had agreed. In short, unless I continued to pay ever-increasing monthly premiums, I would lose virtually everything that I had paid the insurance company and my family would lose the financial security I intended the policy to provide. 

“I felt trapped and let down. After some serious thought, I decided to cancel the policy because I realised that the premiums were becoming unaffordable. After I cancelled my policy, I could not shake the feeling I had been wronged and was the victim of an injustice. My wife encouraged me not to take this lying down and I started legal action. 

“I discovered that: 

• In practice, this type of life insurance had very little likelihood of ever being paid out. 
• Policies were marketed and sold at enticingly low monthly premiums in order to get the customers in the door. 
• Customers were rarely given any warning about how the premiums would rocket – and continue to rocket – as they got older – just when they and their families really needed the protection of life insurance. 

“The legal proceedings were long and drawn out. It was also expensive and stressful to take on a multi-billion-pound insurance company. However, I worked with a very talented and driven team and, after three long years and just weeks short of going to court, the insurance company agreed to settle out of court. Through this settlement, I received compensation from the insurance company to the tune of several hundreds of thousands of pounds.  

“Although I felt vindicated, our research showed that there are possibly hundreds of thousands of other innocent policy holders who have found themselves in a similar position over the previous 30 or 40 years. Many of these people cancelled their policies as the premiums became unaffordable and, in doing so, lost almost everything they had paid towards their life insurance product. 

“The more I looked into this, the more troubled I became by the behaviour of some of the UK’s most trusted insurance brands. What soon became apparent was that industry-wide, insurance companies were taking advantage of their customers who, individually, did not have the ability to fight back. This had to change. I spoke to the team who I worked with on my case and asked if something could be done about this wrongdoing. 

“And thus, WLI Claims came into being. Working on a no-win, no-fee basis, WLI Claims is making it easy, safe and stress-free for those – or the loved ones of those – who have cancelled life insurance policies due to an unexpected rise in premiums to secure the compensation they deserve.” 

Find out more

Click here to start your claim now.

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Earn money by sharing your internet connection

Earn money by sharing your internet connection 

As the world struggles through a period of economic uncertainty, many people are looking at alternative ways to make extra money on the side. According to a study by Finder, 44% of Brits have at least one side hustle, with the most popular ways to earn cash including selling old or unwanted items, creating content, and creating products to sell.  

The National Living Wage in the UK currently stands at £10.42 per hour, a rise of 9.7 per cent compared to the previous financial year. However, due to this rise not keeping up with current inflation levels of 10.1%, money is still lost in real terms, as you need to spend more money to buy the same goods. For example, even though wages increased in April, food inflation is at 19.2%, meaning the real value of your income may be decreasing. 

So, it’s no surprise many are turning to side hustles to put a little extra in the bank. But many people don’t have time to take up a second job, take extra shifts at work, or create a small side business for themselves. Many of us may have childcare responsibilities or other commitments. In these instances, passive income streams may be a better option. Income streams allow a person to earn from something without having to actively participate in it. 

• Honeygain
• Why is Honeygain so important?
• Payment
• Privacy and security

Honeygain 

This is where useful tools such as Honeygain come in. Honeygain allows you to make money by sharing your internet connection. Now, that may seem daunting, but at MoneyMagpie we believe cybersecurity and the safety of personal information is key. So, let us explain what Honeygain does, and how you can earn extra income easily.  

When you start using Honeygain, your devices act as view towers to help businesses globally use the internet without location-based restrictions or censorship. It can be downloaded onto devices with a stable internet connection, including Linux, Android, Windows, macOS and iOS devices. 

So, you are now safely and securely sharing your internet connection using Honeygain. But how much could you actually earn? Well, the average earning is $40 per month. With various earning boosters, you can make over a hundred dollars every month if you wish to do so. 

Why is Honeygain so important? 

Not only is Honeygain a great method of earning extra money without much effort at all, but it is an extremely useful tool across the globe. A huge number of remote side hustles are aimed at North America and other Western regions. Honeygain allows people in other regions of the world with limited opportunities to earn extra money in an easy and straight-forward way.  

Completing online surveys is a popular option for people to make additional income in less-developed regions of the world. However, it requires effort and time commitments to earn money through survey sites.   

Honeygain is another option due to its accessibility worldwide. It can make a difference to people’s financial status in these regions without requiring additional work. 

For example, in Gambia, the minimum wage currently stands at 50 dalasi per day – approximately $1.25 or £1.01. Average food costs in Gambia are approximately $107 per person, per month – that’s just under $25 per week. If someone living in Gambia earns $40 per month from Honeygain, they would be able to use the money to pay for almost two weeks of groceries. 

Similarly, the minimum wage in Chile is 410,000 Chilean Peso per month – that’s about $512. So, allowing a person living in Chile the opportunity to earn $40 to supplement their income means they would be getting over 7.5% added to their monthly earnings. 

These examples show just why applications like Honeygain are invaluable in helping people earn money in ways not possible before. Honeygain is giving people the opportunity to supplement their incomes no matter their financial status or background. 

Payment 

Earnings depend on the demand for your location from Honeygain’s business clients, plus the number of users in your area. Users can refer friends to get a permanent 10% bonus added to their earnings or participate in social media contests to increase their earning potential. 

You have a choice to be paid through either PayPal or cryptocurrency. You can even set up your earnings to pay for a subscription service automatically, including Spotify Premium, Netflix, and Xbox Live. 

Additionally, all user payouts are made secure by two-factor authentication (2FA). With single-factor authentication, you only need one form of confirmation to log into your account – your password. However, the app’s 2FA means you will need a unique code, sent by email, text message or a special authentication app to log in and get your payment. This prevents the money you earn falling into the wrong hands. 

There’s not just money to be earned, either. Users are the main beneficiary of Honeygain, and are entered into contests, offered special features like Lucky Pot and a great referral programme. When you refer a friend, they get $5 free for signing up, and when they share over 200 MB you’ll be entered to win up to 4 million Honeygain credits worth of prizes, including Macbooks, gift cards and more. Honeygain’s priority is your online security, offering you the opportunity to earn a great passive income and fun rewards, without ever compromising your information. 

Privacy and security 

Honeygain securely shares your internet connection, without using or gaining access to any of your personal data. The only information collected from you is your email address and IP address.  

Only publicly available data is collected when you share your internet connection, so no secure or private data can be used. This data is then used by reputable, credible companies, lwho use it for market research, price comparisons, and other verified business practices. 

In short, Honeygain enables businesses to perform data-intensive operations, thanks to Honeygain users who supply the internet bandwidth. It solves what tech reviewers call “large data gathering problems” and improves business processes. If you’re ever annoyed by irrelevant ads, you can help correct the ad placement by using Honeygain.  

Honeygainis serious about privacy and will never access your device’s storage. Not only has it passed all anti-virus checks, but it prides itself on putting your cybersecurity first. Proxyware can be an uncertain topic for many, and a lack of awareness can lead to worries and concerns. So, they do all they can to stop security threats head– on to put users at ease. 

 

If you want to make money passively with a click of a button, you can sign up for Honeygain here. Plus, as a valued MoneyMagpie reader, you’ll get $5 free as a gift from Honeygain. Click here, or use code ‘MONEYMAGPIE’ at checkout.

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Energy Bills to Fall: New Price Cap Announced

Energy bills to fall: New Price Cap Announced 

Typical household energy bills are to fall by around £425. Energy regulator Ofgem has lowered the energy price cap, meaning millions will pay less on their gas and electricity usage. 

From July 1st, the new price cap will stand at £2,074 – down from £3,280. However, due to the Government’s Energy Price Guarantee, household bills were capped at £2,500 for the average household. This protected households from paying too much, keeping bills as manageable as possible. 

The price cap reached a peak of £4,279 in 2022 following Russia’s invasion of Ukraine. This pushed up wholesale energy prices, leaving people with eye-watering bills. The new price cap is a welcome break for many – with most people’s bills to fall by around 17 per cent. 

The new price cap falling below that set out by the Energy Price Guarantee scheme has brought about hope that people may be able to start shopping around again for their energy, to find the best deal they can. It’s hoped competition will pick up in the markets, meaning companies will once again be able to offer new and varied tariffs. 

Ofgem CEO Jonathan Brearly said: 

“After a difficult winter for consumers it is encouraging to see signs that the market is stabilising and prices are moving in the right direction. People should start seeing cheaper energy bills from the start of July, and that is a welcome step towards lower costs.  

“However, we know people are still finding it hard, the cost-of-living crisis continues and these bills will still be troubling many people up and down the country. Where people are struggling, we urge them to contact their supplier who will be able to offer a range of support, such as payment plans or access to hardship funds.” 

According to the BBC, around 29 million households will be affected by the new price cap. Dual dual households who pay by direct debit will see the cap set at £2,074. If you pay via a prepayment meter, the cap will be similar at just £2,077. However, if you by by cash, check or bank transfer every three months, the price cap will be higher, at £2,211 per year. 

Many charities are worried that the new price cap won’t bring much relief to those who have incurred debt as the result of extortionate prices. 

Anna Stevenson, senior welfare benefits specialist, at Turn2us said: 

“Any decrease in the punitive cost of energy is clearly welcome but the debt people have already incurred through no fault of their own will carry with them into next winter. For lowest income households this decrease won’t help enough. Bills will settle to being around almost double the cost before the pandemic and fuel poverty was unacceptably high even then. Government schemes are also coming to an end, but the crisis is not.” 

You can find out more about the new price cap on the Ofgem website. 

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UK Inflation Falls

UK inflation falls

UK inflation fell to 8.7% in the year to April, new figures show. This is down from 10.1% in March, reaching single figures for the first time in eight months. Although this has come as a relief for many, inflation is still slightly about the 8.2% figure forecast previously. 

However, due to food prices in the UK continuing to soar at the fastest rate for 45 years, inflation is falling more slowly than analysts expected. Currently standing at 19.1%, food inflation is close to breaking records for the speed at which it is rising. 

Inflation lowering is good news. However, it does not mean prices are declining – it simply means the rate at which prices are rising is slowing. Inflation measures the speed at which costs go up – not the costs themselves. It may take a few months for lower prices to be reflected on supermarket shelves. 

According to the data from the Office for National Statistics (ONS), although vegetables such as potatoes are more expensive than this time last year, many staples have fallen in price. These include food shop regulars like bread, fish, cereal, eggs and milk. 

The cost of housing and housing services has slowed, contributing greatly to the decline in the inflation rate. Similarly, the price of gas and electricity have been a driving force in overall inflation dropping. 

Commenting on the latest inflation figures, Chancellor Jeremy Hunt said:  

“Although it is positive that [inflation] is now in single digits food prices are still rising too fast. We must stick resolutely to the plan to get inflation down.” 

Ian Stewart, chief economist at Deloitte, said: 

“UK inflation is past its peak, but it is proving stickier and more embedded than expected. Rising levels of core and service sector inflation highlight the risk that domestic inflation pressures persist, even as the shock fades from high energy costs and other commodity prices. 

“With growth holding up and recession fears easing, the scene is set for another interest rate rise next month, and perhaps at least one more before the end of the year.” 

 

You can find the full release from the ONS here.

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Which has food increased most in price, and why?

Which has food increased most in price, and why?

Food inflation has caused havoc in supermarkets over the past year. Food and drink prices rose at the fastest rate for more than 45 years – stats we haven’t seen since 1977. 

But which grocery items rose the most in price? Well, the largest contributor to the rise in food inflation is bread and cereals. These items saw an increase of 19.4%. 

So, what are the foods that have increased most in price, and why? Plus, how you can tackle food inflation. 

Keep reading to find out more. 

• Price comparison on groceries
• Why have food prices risen so fast?
• How to tackle food inflation

Price comparison on grocerie

Food item	Tesco	Asda	Morrisons	Sainsburys	Aldi	M&S
Vegetable oil 1L: 65.2%	£1.99	£2.00	£1.99	£1.99	£1.99	£2.99
Pasta 500g: 59.9%	£0.95	£0.95	£0.95	£0.95	£0.41	£0.95
Tea 80 bags: 46.0%	£1.00	£1.00	£1.29	£1.10	£1.09	£1.10
Chips 1.5kg: 38.7%	£2.50	£2.45	£3.99	£1.85	£1.85	£3.20
Bread 800g: 37.6%	£0.85	£0.95	£0.89	£0.85	£0.39	£0.85
Biscuits 200g: 34.4%	£0.55	£0.50	£0.69	£0.55	£0.49	£0.65
Mixed frozen vegetables 1kg: 31.9%	£1.10	£1.10	£0.72	£1.30	£0.99	£2.50
Milk 1 pint: 29.4%	£0.95	£0.90	£0.90	£0.90	£0.90	£0.90
Crisps 6x25g: 23.7%	£1.10	£1.10	£1.19	£1.15	£0.89	£2.00
Tomatoes 6 pack: 19.3%	£1.25	£1.30	£1.49	£1.25	£1.25	£2.10

Why have food prices risen so fast? 

There are a few key reasons the cost of your grocery shopping has increased so massively. Of course, increased energy costs have hit food producers hard. The burden of these huge costs on the production of items like fruit and veg has affected the amount of fresh fruit and vegetables that can be produced, leading to shortages in shops. 

Of course, the conflict in Ukraine has played a part also. Major food supplies have been decreased because of the war, and the sanctions imposed on Russia. Ukraine is the largest producer of sunflower oil in the world – however, understandably, production and slowed and in many areas, stopped, due to the ongoing strife. Both Russia and Ukraine account for more than half of all vegetable oil exports worldwide. Similarly, Ukraine exports 36% of the world’s wheat. Hence, the price of both items has risen drastically. 

Brexit has also played a role. Certain meats, cheese, potatoes, wine and fresh vegetables sourced in Europe are now in shortage – driving up prices. 

How to tackle food inflation 

With food inflation reaching 19.2%, Lucinda O’Brien, expert at money.co.uk savings, has shared her top five tips for tackling your food shop on a budget. 

Plan your meals in advance 

Make a list of your main meals for the upcoming week. The key is to have a plan for when you’ll utilise each item, as this means you avoid buying more than you need.  

You could try planning your meals for eight days rather than seven, but on day eight use up all the odd bits and pieces left in the fridge. If you allocate money for groceries on a weekly basis but only spend every eight days, by week eight you will have saved a “spare” week’s worth of grocery costs that you may put into your savings account.  

Set a budget 

Making the most of your money when it comes to the food shop can be done through creating a budget. You can start by making an estimate of your three-month spending on food, reviewing your transactions and statements will help you do that. It may sound simple but allocating a specific amount for food each time you create a budget, such as once a month when you get paid will help you save substantially on groceries every month. However, it’s important to make sure your budget is realistic. 

Think about when and where you shop

 
Recently, the topic of comparing supermarket prices has received a lot of attention online. As many of us are flocking to budget supermarkets like Aldi and Lidl to reduce our food expenses, some claim that the more affordable selections are really at the more upscale supermarkets such as M&S. However, our findings show that Aldi came out cheapest in comparison to other supermarkets.

To ensure that you are receiving the best value for your money, it is crucial to compare pricing at several supermarkets.  You might also want to think about doing your weekly food shopping in the evening. Not only will it be quieter, but you might also be able to find some good markdowns. Additionally, full-size supermarkets offer better value than local convenience stores like Sainsbury’s Local or Tesco Express.  

Download money-saving food apps 

As more and more people are worrying about the skyrocketing food prices, some may not be aware that you can find food for free through apps like Olio and Too Good To Go, which both work to reduce food waste. 

Olio is partnered with Tesco and their collections are normally around 8.30pm so you may discover some deals if you get online at 9pm. It may be worthwhile to check on popular holidays like Christmas, Easter or bank holidays because Tesco can have a tonne of leftover food. If you see something that you want, all you have to do is request it. Once you’ve been approved, just get in touch to set up a time to pick it up. You can also keep 10% of anything you collect yourself from Tesco if you sign up to be a Food Waste Hero. 

Be sure to sign up for supermarket loyalty cards like the Tesco Clubcard and Sainsburys Nectar card. The new Nectar Prices scheme now offers discounts on 300 everyday items. This can currently save you 51% on coffee, 32% on beans and 22% cereal along with further staples of a weekly shop. 

Get cashback with your bank account 

With so much competition, banks have to work hard to keep their customers. Most will offer perks such as cashback debit cards, which give you the chance to earn some money on your day-to-day spending and bills. Which shops trigger cashback rewards will depend on your bank and the amount you’ll get back depends on the individual offer at the time.  

The easiest way to check where you can cash in is by looking at the terms and conditions of your current account by visiting your bank’s website. 

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Make £25 an Hour as a Virtual Assistant

It’s International Virtual Assistant Day!

The coronavirus pandemic triggered massive changes in the working landscape. Not only are more jobs being carried out remotely now, but more work is being outsourced as well. For many businesses, hiring freelancers and independent contractors for specific jobs, rather than keeping a larger number of employees on the payroll is more effective and cost-efficient. In particular, this has lead to an increasing demand for virtual assistants.

• What is a Virtual Assistant?
• What’s Involved?
• Steps to Become a Virtual Assistant
• How Much Does a Virtual Assistant Make?
• More Useful Reading

What is a virtual assistant?

Virtual assistants (VA) are essentially freelancers who work in an administrative role for a company or client remotely. They hire out their administrative or creative assistance to various clients and businesses and assist with their needs from home. It’s a win-win situation for both employer and employee. From a business perspective, outsourcing work to virtual assistants means they don’t have to provide a VA with office space, utilities and tools, or contribute any other additional benefits. While some of the key benefits for virtual assistants include the freedom to choose who they work with, the ability to work more flexible hours, and the potential to earn over £200 a day. Plus, you can do it all from home without the commute. What’s not to like?

What’s involved?

Working as a virtual assistant can involve a wide range of tasks. It’ll largely depend on who you’re working for and what they need, but it can involve anything from simply answering phones and sending emails, to book-keeping, business planning and desktop publishing. Got any niche skills? Great. The more specialised your skills are, the more you’ll be able to charge. For example, if you’ve had five years’ experience working in the marketing industry and have extensive knowledge of Microsoft Publisher, you can advertise yourself as a virtual assistant specialising in marketing and desktop publishing.

Do i need qualifications?

Although technically no formal training or qualifications are necessary to be a virtual assistant, most clients will look for a background or relevant experience in secretarial or administration work. If you don’t have this though, don’t panic! For one thing, you’ll have plenty of transferrable skills from other roles such as problem solving, team work, and written communication skills. As well as this though, the increasing demand for virtual assistants means they’re needed in additional roles such as social media, content management, writing blogs, and internet marketing. In these instances, experience in the specific role is more relevant than general administrational experience.

What do i need to get set up?

To get started as a virtual assistant you can actually keep costs incredibly low. Although there are a few things you’ll need, it’s likely that you already have them. At a minimum you’ll need a broadband internet connection, a separate phone line, a computer with all the necessary software, and office stationery. Plus, while you’ll already be paying utility bills you can claim some tax back on them if you’re working from home.

Steps to become a virtual assistant

STEP 1: Sort your skills

Virtual assistants are hired for a range of skills and expertise. Before you get started, decide what your unique selling points are and how you’ll market yourself.

Here’s a few pointers to get your brainstorming started:

• Do you have any niche skills?
• Do you have any professional training or qualifications in a particular area?
• Is there an area of work that you’d like to learn, or focus more on?

Bear in mind that this is an industry that’s continuously moving forward and developing so you need to keep your skills and knowledge up to date as software and programmes change.

STEP 2: Get started

Register your business

The first thing to do to get started is to register your business with your company name. Think carefully about what name you choose, as it’s the first impression a potential client will have of you. One popular option is to just operate under your own name.

Once you’ve chosen a name for your virtual assistant business, you should check it’s not yet used by somebody else. You can check this with the National Business Register. Plus, you also need to check your business name isn’t trademarked. If it is it can cause you serious legal trouble down the line, so best to find out before!

Finally, you’ll need to register yourself as self-employed with HM Revenue & Customs which is free, but if you don’t get it done within three months of working for yourself you could be caught with a fine. Once you’ve registered, they’ll send you all the relevant information you’ll need about national insurance and tax.

Business Insurance and Tax

As a virtual assistant you’ll need to consider an upgrading your insurance policy, as working from home may affect your cover. The Society of Virtual Assistants has a very useful article here on what type of insurance cover you need and why you need it.

When you first start up as a virtual assistant, you probably won’t have to pay VAT as you’re allowed a £85,000 turnover before you have to pay it. However, if your taxable turnover is over £85,000 then you’ll have to contact HMRC to register for VAT. This’ll also mean you’ll have to comply with the governments recent changes to Making Tax Digital.

Financing and Start-up costs

Initial financing and start-up costs usually prevent you from making a profit immediately. Be prepared for this, and check out Should You Go Into Debt to Start a Business for more information.

STEP 3: Finding work as a VA

Sign up to a VA agency

Signing up to an agency can be a good starting point to get work and find clients. However, be wary and avoid agencies that will charge you to work for them. Once you’ve paid them it’ll be doubtful if you ever hear from them again. Similarly, avoid anything advertising ‘get rich quick’ or ‘make up to £1000 a day’. Anything too good to be true on the job market always is.

One of the best websites to check out is the Society of Virtual Assistants. It’s a free service and they have loads of useful information for virtual assistants. You can choose from two different types of membership: approved and standard.

• The standard membership is designed to support those looking into becoming a virtual assistant. It includes some useful tools. You’ll get access to the forum where you can post your queries, the society blog and other resources.
• The approved membership is for businesses. You’ll have to agree to a code of conduct, and have professional quality website and email, which will be checked. Once you’ve been verified, you’ll be added to the searchable database. They’ll also provide you with access to the ‘jobs available’ part of the forum, which will then hopefully lead on to paid work.

Advertising your business

When you first set up any business it’s hard work making your services known and sourcing clients. Our article Finding Freelance Clients has some useful hints on how to advertise and find yourself clients.

To get your initial clients, you need to know what kind of people you want to offer your VA services to. Make a list of your key skills, what you’re accomplished in, and what you enjoy. Then think about what type of companies would need your services. What kind of companies might need you to sort out their emails or phone lines? What companies might need virtual help with their customer service?

Consider what you can offer to improve their productivity, what the benefits of your service will be to the company and what makes you stand out from the crowd.

Your advertising medium will depend on your target audience. Ask yourself:

• What literature do these companies read/use?
• Where do these companies network?
• What form of media is this company likely to come into contact with most often?

Also, creating your own website is a good way to sell yourself as a virtual assistant. A website is a useful place for you to build an online CV, showcase experience and endorsements, and use it to promote your services. There are plenty of free tools that make it easy enough. How to Set Up a Website For Your Freelance Business is full of all the information you need to get started.

STEP 4: Increase your skills, increase your pay

Virtual assistants can make more money by increasing the skills they offer. Things like book-keeping, web-management and copy-editing are popular ways to increase your attractiveness to prospective clients. Essentially, the more you can do, the more you’re able to offer a prospective client and this boosts your chances of getting work. A variety of work is the beauty of being a virtual assistant and the more things you can do, the more you can charge.

How much does a virtual assistant make?

According to Glassdoor, the average annual salary of a virtual assistant is just under £30,000. Plus, an annual survey conducted by Society of Virtual Assistant, found that the average hourly rate for a VA in the UK is £27. These figures may help you with a rough idea, but obviously it largely depends on what skills and experience you can bring to a role.

There are a few important things you need to take into account when setting your rates. Firstly, you want to decide whether you’re going to charge based on a day-rate, or by the hour. Be wary about charging by the hour though, as you can end up working a lot of un-billable hours when researching and carrying out your own admin tasks, that essentially leave you earning less than you could with a day-rate.

However, as a self-employed person you also need to take into account a lack of:

• Holiday pay
• Sick pay
• Maternity leave
• Guaranteed hours
• Pension contributions
• Job security; and
• Provided office stationery and utilities

You’ll need to calculate the fact that you’re missing out on these benefits into your pricing. Realistically, an additional minimum of 25% should be added on to your price to ensure your expenses and tax are covered. For example, if you were thinking of charging £20 an hour, then this should change to £25.

More useful reading

If you’re looking for more help on setting up as a freelancer then check out the articles below:

• 5 Common Objections Freelancers Hear (And How to Overcome Them)
• How to Find Your Freelance Niche
• Useful Resources for Freelancers of All Experience Levels

The post Make £25 an Hour as a Virtual Assistant appeared first on MoneyMagpie.

OnlyFans creators being refused by banks

OnlyFans creators being refused by banks

Have you ever considered the prospect of a bank refusing to let you put money into your account? You earn the cash, then it is either rejected or removed from your account. Well, it’s becoming an increasing risk that banks and building societies will prevent you from using their services if you earn money in certain ways. 

OnlyFans is an online content platform, where creators can show their work, or offer exclusive content to subscribers. Although it is used by many to host a variety of content, such as fitness classes, cookery courses and more, it is used by many who offer adult content in exchange for a monthly subscription. 

Recently, reports have shown that many OnlyFans creators have struggled to find a bank to house their earnings from the platform. With top earners reaching eye-watering sums of up to 17.7 million per month, the demand for the platform is growing. It is now regarded as a serious way for people to make money. 

However, due to the sensitive nature and reputation of OnlyFans, many creators are finding it increasingly difficult to put money to their bank, and transfer from the platform to their personal accounts. 

• Suits Me®
• How does it work?
• Features
• What Jasmine says

Suits Me® 

Suits Me® is a new pioneering alternative to banking, which is more inclusive. It creates more opportunities for customers when it comes to earning money. Recently, a desperate mum shares she had to turn to friends and family to borrow money to feed her family, after vast sums of money she’d earned from OnlyFans disappeared from her account. 

This is becoming a more regular occurrence. More and more influential figures and top earners on OnlyFans, are having their subscription earnings refused by “regular” banks. This makes a banking solution such as Suits Me® more crucial than ever. 

Although OnlyFans does have a reputation for being used by workers in the “sex industry” it is also a platform heavily populated by fitness enthusiasts, personal trainers, and musicians. Many of these content creators are struggling to release their earnings into a tangible bank account. The founder of the 1 billion dollar a year platform wants to emphasise this and diversify the platform further, which could in turn mean even more demand for a Suits Me® account.   

How does it work? 

Suits Me® offer an e-money account accompanied by a modernised mobile app and contactless Mastercard® debit card is on hand to relieve any complications for OnlyFans creators.    

If OnlyFans users are struggling to open an account, they needn’t worry. Thanks to the site’s association with adult content and services, many providers are now flagging and closing accounts associated with OnlyFans. However, there are still some providers out there that are willing to work with OnlyFans users. So, if they’re having trouble finding the right account Suits Me are encouraging them research in to opening an account as soon as possible.   

Features 

It takes just minutes to apply, so users can have their account up and running in no time. Suits Me is one of the few financial institutions supporting such sectors that Onlyfans is a part of. But not only that, let’s look at the different reasons why Suits Me® is an account you want to consider.   

 The account features a  contactless Mastercard, making paying for purchases quick and easy. In addition, you can use your Suits Me® account to send and receive payments and make international transfers via their mobile app. If that wasn’t enough, they also offer exclusive cashback rewards and partner deals when you use your account.   

What Jasmine says 

“Banks need to put their political and personal views aside when enabling businesses and individuals to leave their money with them. Recently there have been disturbing instances of financial houses discriminating against organisations and individuals because they didn’t like their politics. PayPal closed the accounts of the Free Speech Union and Us for Them. Wise closed the account of an anti-abortion charity. Santander closed the accounts of two individuals who held far right views. 

“Whether one likes someone’s politics or activities or not, so long as it is not illegal, there should be no reason for a bank or building society to refuse to deal with them. After all, these financial institutions give accounts to murderers, rapists and people who have committed all sorts of crimes, so cancelling legitimate organisations doesn’t make sense.

“Fads and fashions come and go. Now, it’s deemed fashionable to have a left-wing view. Later it will swing to the right, so those who cancel organisations now that they consider to be right-wing, or unethical, may find that later their own cherished views will get them into trouble. We must lay down now the principle that banking is for all ,and politics should not impinge on the rights of individuals and organisations to have access to banking products.”

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