Browsing Category: "Personal Finance"
With the continuance of job losses as the recession digs its heels in a favourable trend is appearing for those not on, or looking to be on, the property ladder. As more people look to save money by moving in with their parents or by sharing flats which previously had one tenant, demand for flats to rent in Leeds is at a new low. This is particularly the case in West Yorkshire, where more rental flats sit empty than any other area. The boom Leeds realised in the last ten years was mostly funded by the fervour for buy to let mortgages following Leeds’ resurgence as a thriving student destination following years of post industrial stagnation.
This has caused a problem for landlords trying to let the plethora of empty properties, often a vicious circle emerges whereby the potential tenants are put off by the lack of neighbours, instead wanting to find a less isolated area. This problem is exaggerated by the tendency of buy to let developments often being constructed with the usual negligence found on the wave of a boom; in their rush to construct housing, no other infrastructure has been developed. These Leeds flat rentals are particularly unappealing, not just due to their eerie, echoing hallways but that there is not a shop nearby, nor would one survive anyway! This has led the landlords to make some dramatic offers to aid their sales, such as a free month’s rent, reduced lease length or even free heating supply. While now may prove to be a good time to step onto the property ladder, it could also be a good time not to!
A little planning now can help you handle a natural disaster or other emergency. With all the disasters that have hit over the last few years such as, hurricanes, tsunamis, earthquakes and other natural disaster many people have focused on their need to be prepared in case of an emergency.
Very few, however, consider the need to be prepared for a financial emergency in their plans. From keeping an evacuation box with important documents to setting up an account with emergency funds, preparing now can be the difference between financial security and financial crisis.
Create a household inventory for items of significant value and locate originals of important financial and family documents. Store original documents in waterproof bags in a safe deposit box or durable “evacuation box” and photocopies in a safe place. Use a CD to back up key documents on your computer. If practical, store copies with friends or relatives who live outside the area.