Every time you take an action on your financial plan, you’re doing something good for your future self.
But visualising the future isn’t always easy.
Life is busy and most of us spend our time consumed by the here and now. What do I need to do today? Will I hit my work deadlines this week? Can I afford to replace the dishwasher?
But if you aren't thinking very far into the future, it makes your goals feel less real. And that makes it harder to stick to the everyday money habits that help you make progress towards them.
Writing a letter to yourself can help you picture yourself in the future and visualise the goals you want to achieve.
Having that clear picture of your future self can help you stay on track with your plan to make those goals a reality.
Write about your aspirations, and be specific. What are your financial goals? What do you want to achieve in your career? In your personal life? The more specific you can be, the better.
Tell your future self about the people in your life. Who are the most important people to you right now? Any big changes coming up that you can foresee?
Talk about the things that you’re excited about. What went well this year? Where are you hoping to take those things in the next year? What does your ideal life look like?
Then talk about the things that worry you. What don’t you feel so great about at the moment? Is there anything that’s giving you anxiety about the future?
Finally, give yourself some advice. What do you want your future self to be doing?
FutureMe provides a free email service between you and your future self. You can choose when you want to receive the email, and to which email address.
Got goals you want to work towards? The first step is writing them down. Set a goal now to build it into your personal financial plan.
","url":"https://multiply.ghost.io/writing-letters-to-your-future-self/","uuid":"23341907-6b36-4713-af64-c8dc2b7d8e3d","page":null,"codeinjection_foot":null,"codeinjection_head":"","codeinjection_styles":null,"comment_id":"5dc5563edb77ca0038eacad0"}},{"node":{"id":"Ghost__Post__5dc440548bb4f50038afe854","title":"8 easy ways to add value to a property","slug":"8-easy-ways-to-add-value-to-a-property","featured":false,"feature_image":"https://images.unsplash.com/photo-1523198780259-41f275ab6e3d?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"Let's talk about selling higher than you bought ","custom_excerpt":"Let's talk about selling higher than you bought ","created_at_pretty":"07 November, 2019","published_at_pretty":"15 November, 2019","updated_at_pretty":"01 September, 2021","created_at":"2019-11-07T16:03:32.000+00:00","published_at":"2019-11-15T16:21:26.000+00:00","updated_at":"2021-09-01T13:28:09.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"You’re not just at the mercy of market forces - there are things you can do to\nadd value to your property.\n\nConvert a cellar, garage, or loft\nIf you’ve got spare space lying around, you can add up to 20% to your asking\nprice by turning it into an extra bedroom or bonus living space. Bonus points if\nyou add a bathroom.\n\nOutside space\nA garden, patio or balcony is a huge asset, especially if it looks bright and\ninviting. Spruce up your outside space with a lick of paint, a few new plants or\nsome cheerful garden furniture.\n\nKnock down a wall\nOpen plan living is all the rage these days, so you can make your square metres\nmore valuable by turning two or more rooms into one big room. Check the wall in\nquestion isn’t load-bearing before you take a sledgehammer to it, though.\n\nFix things\nAn obvious one but easy to overlook: if anything is in need of repair, repair it\nnow.\n\nMake it warmer\nCosy, energy-efficient homes are worth more. Replace the boiler if it’s more\nthan 15 years old, add loft insulation if there isn’t any, make the windows\ndouble-glazed.\n\nDecorate\nCosmetic touches like a lick of paint and a few new cushions will add to the\nprice tag and can also help unsure buyers to picture themselves in the property.\n\nExtra storage space\nHaving places to put stuff is a massive tick for prospective owners, so you can\nmake your home more appealing with simple solutions like shelves, wardrobes or\nunder-bed storage.\n\nGet planning permission\nEven if you have no intention of shelling out for an extension, getting the\npaperwork done can boost your property's value because it means whoever comes\nafter you can do the work more easily. All you have to do is demonstrate that\nit’s possible.","html":"You’re not just at the mercy of market forces - there are things you can do to add value to your property.
If you’ve got spare space lying around, you can add up to 20% to your asking price by turning it into an extra bedroom or bonus living space. Bonus points if you add a bathroom.
A garden, patio or balcony is a huge asset, especially if it looks bright and inviting. Spruce up your outside space with a lick of paint, a few new plants or some cheerful garden furniture.
Open plan living is all the rage these days, so you can make your square metres more valuable by turning two or more rooms into one big room. Check the wall in question isn’t load-bearing before you take a sledgehammer to it, though.
An obvious one but easy to overlook: if anything is in need of repair, repair it now.
Cosy, energy-efficient homes are worth more. Replace the boiler if it’s more than 15 years old, add loft insulation if there isn’t any, make the windows double-glazed.
Cosmetic touches like a lick of paint and a few new cushions will add to the price tag and can also help unsure buyers to picture themselves in the property.
Having places to put stuff is a massive tick for prospective owners, so you can make your home more appealing with simple solutions like shelves, wardrobes or under-bed storage.
Even if you have no intention of shelling out for an extension, getting the paperwork done can boost your property's value because it means whoever comes after you can do the work more easily. All you have to do is demonstrate that it’s possible.
","url":"https://multiply.ghost.io/8-easy-ways-to-add-value-to-a-property/","uuid":"bbcadbe1-352c-4463-a20d-1a85c54165d9","page":null,"codeinjection_foot":null,"codeinjection_head":"","codeinjection_styles":null,"comment_id":"5dc440548bb4f50038afe854"}},{"node":{"id":"Ghost__Post__5dc45eb48bb4f50038afe938","title":"Your complete home-buying checklist","slug":"your-complete-home-buying-checklist","featured":false,"feature_image":"https://images.unsplash.com/photo-1556580004-7eca73f3a3ea?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"Everything you need to do to buy a house, and when","custom_excerpt":"Everything you need to do to buy a house, and when","created_at_pretty":"07 November, 2019","published_at_pretty":"15 November, 2019","updated_at_pretty":"23 January, 2020","created_at":"2019-11-07T18:13:08.000+00:00","published_at":"2019-11-15T16:19:48.000+00:00","updated_at":"2020-01-23T12:14:27.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Buying a house is a pretty big deal. Go you! Because it involves a hefty sum of\nmoney changing hands, a load of legal paperwork, and a mortgage application,\nit’s far more complicated than most other purchases you’ll make.\n\nTo make your journey to being a homebuyer smoother, we've put together a\ndefinitive list of all the things you’ll need to do between now and the day you\nmove, in the order you'll need to start thinking about them.\n\nCalculate your stamp duty (T minus 12 months)\nStamp Duty Land Tax (SDLT) is a tax you pay when you buy property worth over\n£125,000 in England. In Scotland, it’s called Land and Buildings Transaction Tax\n(LBTT) and in Wales, it’s called Land Transfer Tax (LTT). You’ll need to work\nout how much stamp duty\n[https://www.moneyadviceservice.org.uk/en/tools/house-buying/stamp-duty-calculator] \nyou’re likely to pay.\n\nStart browsing (T minus 6 months)\nStart getting a sense of what you can get for your money, and what’s important\nto you. Is a tip-top location the priority? Or are you more bothered about\nhaving plenty of space? A new build or a doer-upper?\n\nGet a Decision in Principle (DIP) (T minus 5 months)\nThe first step towards getting a mortgage is getting a DIP (decision in\nprinciple). This isn’t a binding agreement, but gives you a bit of confidence\nabout what you’ll be able to borrow and at what rate. It helps to have a DIP in\nyour back pocket to show sellers you’re serious.\n\nFind a conveyancer (T minus 4 months)\nYou can either choose to have all the legal aspects handled by a solicitor or a\nconveyancer. A fixed fee agreed beforehand helps to make sure costs don’t\nspiral, and includes all kinds of standard checks that you have to have by law.\n\nMake an offer (T minus 3 months)\nOnce you’ve found a home that’s right for you, you’ve got your DIP and your\nsolicitor, it’s time to make an offer. You do this through the estate agent.\n\nApply for your mortgage (T minus 3 months)\nIf your offer is accepted, it’s time to go apply for that mortgage. You’ve\nalready got your DIP so you know how much you can borrow. This is a long\napplication form, as they go. Buckle up.\n\nGet a survey done (T minus 3 months)\nA survey checks there’s nothing dodgy about the property that could affect its\nvalue. Depending on the age and general condition of the property, you might\nwant a basic valuation, a homeowner report, or a full structural survey. If the\nsurvey finds anything major, you can negotiate the price or ask the seller to\nfix it.\n\nValuation and mortgage offer (T minus 2 months)\nThe lender will assess your application and carry out a valuation of the\nproperty to make sure it’s worth what the seller says it is. That’s because the\nproperty is the collateral on your loan: that’s what they get if you stop\nrepaying. If everything checks out, you’ll get your mortgage offer.\n\nExchange contracts (T minus 1 month)\nIf you’ve got your mortgage offer and all the paperwork is in order, you and the\nseller send each other contracts to read and sign.\n\nOnce you sign, the sale is legally binding - so no backing out. You’ll also set\na completion date and send a portion of your deposit to your conveyancer, who’ll\nsend it on to the seller.\n\nGet all the insurance (T minus 1 month)\nOnce you’ve exchanged and the completion date is in sight (usually within 2\nweeks of exchange), it’s time to get insurance. Building insurance, contents\ninsurance, life insurance: you name it, you’ll need it.\n\nBook a van (T minus 1 month)\nIf you’re moving a lot of stuff, it’s worth thinking in advance about how you’ll\nmove it. Oh also, start packing.\n\nComplete\nTime to seal the deal! Completion is when you transfer the rest of the money to\nyour solicitor and they send this to the seller. Once you’ve completed, the\nproperty is yours.\n\nPick up the keys\nYou pick up the keys from the estate agent, and start moving in.","html":"Buying a house is a pretty big deal. Go you! Because it involves a hefty sum of money changing hands, a load of legal paperwork, and a mortgage application, it’s far more complicated than most other purchases you’ll make.
To make your journey to being a homebuyer smoother, we've put together a definitive list of all the things you’ll need to do between now and the day you move, in the order you'll need to start thinking about them.
Stamp Duty Land Tax (SDLT) is a tax you pay when you buy property worth over £125,000 in England. In Scotland, it’s called Land and Buildings Transaction Tax (LBTT) and in Wales, it’s called Land Transfer Tax (LTT). You’ll need to work out how much stamp duty you’re likely to pay.
Start getting a sense of what you can get for your money, and what’s important to you. Is a tip-top location the priority? Or are you more bothered about having plenty of space? A new build or a doer-upper?
The first step towards getting a mortgage is getting a DIP (decision in principle). This isn’t a binding agreement, but gives you a bit of confidence about what you’ll be able to borrow and at what rate. It helps to have a DIP in your back pocket to show sellers you’re serious.
You can either choose to have all the legal aspects handled by a solicitor or a conveyancer. A fixed fee agreed beforehand helps to make sure costs don’t spiral, and includes all kinds of standard checks that you have to have by law.
Once you’ve found a home that’s right for you, you’ve got your DIP and your solicitor, it’s time to make an offer. You do this through the estate agent.
If your offer is accepted, it’s time to go apply for that mortgage. You’ve already got your DIP so you know how much you can borrow. This is a long application form, as they go. Buckle up.
A survey checks there’s nothing dodgy about the property that could affect its value. Depending on the age and general condition of the property, you might want a basic valuation, a homeowner report, or a full structural survey. If the survey finds anything major, you can negotiate the price or ask the seller to fix it.
The lender will assess your application and carry out a valuation of the property to make sure it’s worth what the seller says it is. That’s because the property is the collateral on your loan: that’s what they get if you stop repaying. If everything checks out, you’ll get your mortgage offer.
If you’ve got your mortgage offer and all the paperwork is in order, you and the seller send each other contracts to read and sign.
Once you sign, the sale is legally binding - so no backing out. You’ll also set a completion date and send a portion of your deposit to your conveyancer, who’ll send it on to the seller.
Once you’ve exchanged and the completion date is in sight (usually within 2 weeks of exchange), it’s time to get insurance. Building insurance, contents insurance, life insurance: you name it, you’ll need it.
If you’re moving a lot of stuff, it’s worth thinking in advance about how you’ll move it. Oh also, start packing.
Time to seal the deal! Completion is when you transfer the rest of the money to your solicitor and they send this to the seller. Once you’ve completed, the property is yours.
You pick up the keys from the estate agent, and start moving in.
","url":"https://multiply.ghost.io/your-complete-home-buying-checklist/","uuid":"95b1cdfe-5bbd-490b-b693-d855f2736be4","page":null,"codeinjection_foot":null,"codeinjection_head":"","codeinjection_styles":null,"comment_id":"5dc45eb48bb4f50038afe938"}},{"node":{"id":"Ghost__Post__5dc451208bb4f50038afe8f9","title":"Credit score self-care for first-time buyers","slug":"why-your-credit-score-matters-and-how-to-boost-it","featured":false,"feature_image":"https://images.unsplash.com/photo-1562240020-ce31ccb0fa7d?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"Look after your credit score, and it'll look after you","custom_excerpt":"Look after your credit score, and it'll look after you","created_at_pretty":"07 November, 2019","published_at_pretty":"15 November, 2019","updated_at_pretty":"01 September, 2021","created_at":"2019-11-07T17:15:12.000+00:00","published_at":"2019-11-15T16:19:20.000+00:00","updated_at":"2021-09-01T13:26:23.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"tips-from-team","slug":"tips-from-team","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Imagine you’ve got your sights set on buying a house. You’ve spent years saving\nup your deposit. Every lunch break you’re browsing properties online. You know\nexactly which pot plants you’re going to buy for your new place.\n\nAnd then you get an answer on your mortgage application. And...it’s a no.\n\nIntroducing: your credit score\n\nA bank will only lend you money if they’re confident you’ll pay it back.\n\nThey decide this by looking at your credit report. It’s essentially a record of\nall the money you’ve borrowed and whether you paid it back. Your credit score is\na summary of that record.\n\nHigh score = more mortgage offers at cheaper interest rates.\nLow score = you might not be able to get a mortgage at all.\n\nSo, while you’re busy saving money, browsing properties, and choosing pot\nplants, you also need to keep an eye on your credit report.\n\nBuild your credit history\nIf you have no credit history because you’ve never any borrowed money, this can\nalso lead to a low score. Build your credit history by borrowing small amounts\nvia a credit card or loan and paying it off every month.\n\nPay down debt\nIf you have any outstanding high-interest debt, then your first step should be\nto pay down this debt as quickly as you can.\n\nCancel unused cards\nIf you have more than one credit card, and you're not using them all, consider\nconsolidating the outstanding debt or closing down some of your dormant\naccounts.\n\nRegister to vote\nA consistent address history makes you look more trustworthy (apparently) and\nregistering all your accounts to the same address is also a big tick - so get on\nthe electoral roll where you live.\n\nHold off on applying\nHaving lots of credit applications in a short space of time makes you look a bit\ndesperate, frankly. It’s best to avoid putting any other applications in within\n3 months of when you plan to apply for a mortgage.\n\nPay your bills on time\nObvious but important. Pay all your utility bills, including any debt\nrepayments, on time to avoid getting any red flags on your credit report. The\neasiest way is to set up a Direct Debit that pays them off automatically.","html":"Imagine you’ve got your sights set on buying a house. You’ve spent years saving up your deposit. Every lunch break you’re browsing properties online. You know exactly which pot plants you’re going to buy for your new place.
And then you get an answer on your mortgage application. And...it’s a no.
A bank will only lend you money if they’re confident you’ll pay it back.
They decide this by looking at your credit report. It’s essentially a record of all the money you’ve borrowed and whether you paid it back. Your credit score is a summary of that record.
High score = more mortgage offers at cheaper interest rates.
Low score = you might not be able to get a mortgage at all.
So, while you’re busy saving money, browsing properties, and choosing pot plants, you also need to keep an eye on your credit report.
If you have no credit history because you’ve never any borrowed money, this can also lead to a low score. Build your credit history by borrowing small amounts via a credit card or loan and paying it off every month.
If you have any outstanding high-interest debt, then your first step should be to pay down this debt as quickly as you can.
If you have more than one credit card, and you're not using them all, consider consolidating the outstanding debt or closing down some of your dormant accounts.
A consistent address history makes you look more trustworthy (apparently) and registering all your accounts to the same address is also a big tick - so get on the electoral roll where you live.
Having lots of credit applications in a short space of time makes you look a bit desperate, frankly. It’s best to avoid putting any other applications in within 3 months of when you plan to apply for a mortgage.
Obvious but important. Pay all your utility bills, including any debt repayments, on time to avoid getting any red flags on your credit report. The easiest way is to set up a Direct Debit that pays them off automatically.
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