We would all love to make a fortune, but most of us don’t know how we will become millionaires. However, it is still possible to make small investments and get a good return on your money (if you’re lucky/make your own luck!), effectively turning a tiny amount into a relative fortune – as long as you invest consistantly and are willing to take on the risk that comes with any investment.

A good example of this is a stocks and shares ISA.

For this type of investment you put your money into an ISA account which then is invested in various stocks and shares (this varies depending on the specific ISA that you have chosen and the options available).

The great thing about ISAs is that your money can grow tax-free, so you don’t have to worry about paying any tax on the interest, capital gains or share dividends you may earn as a result – which is one way you can help turn your small investment into a relative fortune, as the lack of tax helps to boost your return.

You can also choose whether you want to reinvest your dividends in more shares (recommended for simplicity and to compound your returns), and you can generally put as much or as little into your share ISA as you like each month; just don’t go over the total annual limit that is placed on all ISAs which is currently over £10k per year.

Of course, it is important to note the risk that comes with a Stocks and Shares ISA – the stock market is not guaranteed to rise continuously and so your investment has the potential to dip – but if you are able to leave your money in the ISA over the long term, there is a good chance that the investment will grow.

By how much it grows often depends on how the investments inside the ISA perform.

It’s a good idea to investigate the best stocks and shares ISA for your needs, and understand what you are investing in as investment risk varies enormously. For instance, investing in a climate change mutual fund inside your ISA (that invests in energy-conscious businesses) is one of the riskier investments, but it has may perform very well over the long term.

If you are looking to spread out your options, one particular favourite investment is the FTSE all-share tracker fund so you never miss out when the stock market grows. Adding bonds and gilts into your ISA could also be worth considering; these can offer lower returns but they have less risk attached.

Overall, making a fortune requires dedication and care to make sure you make the best investments for your needs and that you manage the risk attached to investments wherever possible. With one eye on the long game and one eye on your current investment portfolio, you should have a decent chance of growing your ISA investment in the months and years to come.

Overwhelmed by your options but want to start investing? Sign up for updates and I’ll walk you through it.

You may also find helpful:

Why A Pension (and an ISA) Is Like A Water-Proof Envelope

Like many other people, one of my resolutions this year is to cut back on my spending.

Is it really a bargain though?

The same applies to the Sales.

There are 3 main reasons why people fail at keeping resolutions pertaining to spending.

1 – Going cold turkey and trying to resist spending anything.

2 – Looking at your goal in a negative or general way.

3 – Assuming you have iron-clad willpower.

One final tip

Share your tips in the comments

The following is a sponsored post with a very worthwhile message that I’m proud to share

If you’re just starting out in the world, beginning your financial life, it’s likely that you’re looking to get a car.

Buying a car is a pretty ‘normal’ thing to do for many 20 somethings -after all, you’re an adult and you don’t want to have to rely on others for your transport needs.

Unfortunately, car ownership can be surprisingly expensive, and whilst you could be justified that it’s a necessary purchase, it’s important you walk into the deal with all the facts.

The Reality of Car Ownership

With the exception of student debt, a car loan is often the first major debt that young people beginning their careers sign up for: it’s very common to use financing and focusing only the monthly payment rather than the total cost.

But carrying debt can be surprisingly costly and who knows what might happen in the future when it comes to your job.

The cost of car ownership is further compounded by the fact that car valuations can quickly fall leaving you potentially owing more than the car is worth if you are forced to sell.

Car Insurance – Important considerations

Car insurance is another cost that comes with car ownership. But whilst it will always be a significant cost, there are also great ways to save money on your car insurance. For example, by shopping around (it’s a competitive market!), and taking advantage of your situation to lower your premiums like looking to women-only insurance providers for lower premiums if you’re gender-advantaged (!) or considering multi-car savings if you have more than one car.

Saving money with a multi-car policy is no joke!

Ultimately when it comes to car ownership you need to make sure you are making CONSCIOUS decisions rather than sleep-walking into an expensive commitment.

Ask yourself these questions:

“Do you need a car now?”

Is the personal freedom today worth the financial burden and will your car payment commitment stop you from growing your pennies for your future?

“Is having a car at this stage of my life really worth it?”

Deciding to wait a little while for a car can mean the difference of tens of thousands of pounds considering how much the pennies you save in your 20s will grow in value over time.

“Is driving an older car a better choice?”

You don’t need a shiny new car to enjoy the crazy adventure of early adult life. Not having a car payment (or a very low one) allows more flexibility to travel, visit friends or simply save for other things like a down-payment on a house.

“Can I get cheaper car insurance somehow?”

Having an older car will lower your insurance premiums and if you have more than one car in your household you can save even more with a multi-car policy.

Making smart choices really will pay off in the future so get your thinking caps on and start asking these questions to yourself today.

Conscious spending at the beginning of your financial journey really can have a Magical impact when it comes to growing your pennies.

Good luck!

If you’re planning on living with tenants in your own investment property, it’s essential to take out landlord insurance and to choose lodgers carefully.

Sharing a house can be challenging, but there are ways to make your time together bearable or even fun.

I actually have first hand experience of this arrangement and know it can be beneficial for both parties. But there are things you should consider:

Here are five tips for live-in landlords:

Hold interviews before selecting a tenant

Letting out one of the rooms in your house is a great way to utilise space and make extra money – important if you are looking to grow your pennies in the long run. However, it’s important to interview tenants before they move in to ensure they’re suitable for a house share.

Have a good chat over a cup of coffee and find out as much as you can about the other person in a short space of time. Ask them about their job and delve into their personal life without being too evasive. Find out if they’ve got a partner (as this could affect you) and inquire how they’ll be spending their time. Lodgers also have expectations, so ask what they expect from you and decide if you’re compatible. Of course, people usually want to create a good first impression so use your natural instincts if possible.

Draw up a contract

Start off by drawing up a three-month contract and have all tenants sign it before they move in with a deposit for security. This will make things official and will help you throw them out if things don’t work out. Write down the rules and regulations of the house share and make sure everyone understands their responsibilities. Establishing a rota and laying down guidelines from the very start will help everyone know their place and should allow you to live in harmony.

Give each other space

It’s really important to respect your tenants by giving them privacy and space. Just because it’s your house does not mean you can stroll into their room whenever you feel. You wouldn’t like it if they snooped around your bedroom, so never enter their own living quarters without asking permission.

If you want to clean the whole house, always speak to the tenants first. Some might be happy for you to hoover and dust, whereas others would prefer to do it themselves. Everyone needs time to relax and breath, so don’t crowd your lodgers.

Tell your tenants before inviting guests

Always tell your tenants before inviting guests and ask them to do the same. That way everyone will know who’s coming round and will expect different people in the house. You might not care who your housemates bring home, but they might get concerned if they hear strange voices, so keep things fair. You don’t have to sit down and formally introduce everyone who walks through the door or anything like that, but just leave a note or tell everyone quickly. If you respect others, you should find they respect your back.

Talk through any issues

If there’s a problem in the house, it’s essential to talk through any issues before they get worse. Have a calm discussion over dinner with the person who’s bothering you and let them voice their concerns too. Talking face-to-face is one of the best ways to iron out issues and is much more productive than gossiping behind their back. You might find a good chin wag strengthens your relationship and getting everything in the open is sure to improve the atmosphere in the house.

Living amicably with tenants is as important as taking out cheap landlord insurance, so always treat each other with care.

Other Property articles on Magical Penny

The UK Loves Their Houses…but Should We?

An Idiots Guide to Home Insurance and How to Get a Cheaper Deal

Would real estate or the stock market be a better investment choice for the long term?

The following is a guest post by Liz Goldman for Sunbird FX – the currency trading specialist and CFD broker.

According to a U.S. government survey, making better financial decisions is one of the top new year’s resolutions made by Americans, along with vows to lose weight and get more exercise. It’s a great time to make sure you’re getting 2012 off to a good start financially. Here are some ways to give yourself a financial check-up:

Shop around for better interest rates

Interest rates on savings accounts are rock bottom right now, so it’s particularly important to do the best you can. Check local banks, credit unions, and online financial institutions. Make sure there are no fees or hidden terms. Some accounts that look good on the surface are bad deals when you read the fine print.

Shop around for better credit card terms

Banks tightened up on lending, dropping credit card limits and closing accounts, during the worst of the recession. Now many are looking for new customers and dangling attractive introductory rates and reward programs to entice them. The best credit cards often have annual fees, so make sure you’ll get enough benefits to make the cost worthwhile. Ask if the card issuer will waive the fee for the first year. If you find a card with a zero interest promotion, transfer a balance from a high interest card.

Pay more money on your highest interest credit card account

Interest eats up a big chunk of your monthly credit card payment if you’re only paying the minimum due on that card. You’ll lower the actual balance more quickly if you channel more money toward a high interest account. It’s gratifying to see the balance drop more quickly, and once you pay off one of your cards, you can use that extra money to tackle another high interest bill.

Increase your savings

It never hurts to have a money cushion for unexpected bills like car repairs, dental emergencies, or anything else that suddenly causes a major expense. A hefty savings account also cushions you against the effects of a crisis like job loss. Determine how much you can afford to pay each month. Write a check and deposit it into your savings account at the same time you pay your monthly bills. Treat that deposit with the same importance as you’d treat any other bill.

Order your free credit reports

…and make sure no mistakes are bringing down your credit score.

The Fair Credit Reporting Act entitles you to free reports from the three credit bureaus every 12 months. Order them through AnnualCreditReport.com, comb through them carefully, and file disputes on the appropriate credit bureau websites for any problems you find. You may be doing great financially, but a mistake or two on your credit reports can still destroy your credit score.

Talk to a credit counselor

…at a non-profit credit counseling agency if you’re having trouble making a workable budget on your own. Many people think that credit counselors are just for people teetering on the brink of bankruptcy, but that’s not true. Legitimate counseling agencies offer a full spectrum of services, not just debt repayment plans. Find an agency that offers free counseling and educational resources and check its standing with the Better Business Bureau.

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Thanks Liz for this post.

Tips are really useful, but also remember, mastering your money is as much a mind-game as it is about taking action on these tips.

Do you have the right mindset for success and wealth in 2012?

Watch the video to find out why mindset is so important.

Gaining access to investing information has never been easier.

Back in those fuzzy olden days of the early 90s, when I was but a small child, would-be investors had to venture out into the world and search for collections of  bleached paper gathered together with glue, which some affectionately named ‘books’. In these ‘books’ they might read about earnings reports and valuations and price-to-book ratios (‘book’ being different to ‘books’ of course). And they would likely stop reading shortly after due to overwhelm, that and their hands torn to shreds from paper cuts.

But occasionally there were brave souls who pushed through the jargon and decided they would enter the world of investing.

Here’s to the trail-blazers.

Taking a first step in the journey, our would-be hero steps out of his front door, faces the wintry wind, and visits a learned gentleman called an investment broker. If he had been feeling particularly adventurous he might have tried using an experimental technology called a telephone to make his investments.

Note: the telephone at the time was a newly discovered technology that used pulses of electrical current to transmit information through wires around the world. Exact figures around usage are difficult to find, being lost in the ravages of time.)

Anyway, once our adventurous investor was talking to the wise man gate-keeper of the stock market, the investment broker, he would open his wallet and either: a) pay an arm or a leg for advice;  or be taken advantage of through a ridiculously high commission on whatever he bought.

But it was worth it, for our lone explorer of the markets was now an investor!

Oh joy!

 So our hero is now a fully fledged investor

But if he wanted to keep track of his investments he would need to wait until the paperboy delivered another piece of bleached paper to him in the form of a ‘newspaper’. On its pages would be printed the valuation of popular shares. Whizzy.

BUT NOW WE HAVE THE INTERNET.

The internet allows us to learn about investing and actually invest, all from our laptops. And we don’t need to use rip-off brokers or wait for the paperboy to tell us how much our investments are worth over time.

What is standing in your way?

What will it take before you start investing in things that, over time appreciate in value rather than decline?

The internet has taken away excuses for access.

But there are still problems:

1. Finding the money.
2. Overcoming overwhelm.

In summary, you should be saving what you can, and invest the money you won’t need in the next 5+ years largely in index funds that track key markets across the globe for as low a cost as possible using a low cost investment broker/online fund supermarket.

Update

Monevator has written a brilliant post about how you don’t need a lot of money to start investing. £50 is very doable for almost every working person and getting started is more important than waiting for the perfect time:

When money is rarer than rocking horse dung, DIY investing can seem like the sport of kings – as beyond the reach of the average punter as international polo, yacht racing, and panda wrestling.

So if you’re wondering how to invest on a budget, what is the minimum amount of money you need to invest while remaining true to the principles of passive investing?

I think saving and investing about £50 a month should do it.

Highly recommended.

Managing your money can be tougher if you don’t understand some of the jargon.

So knowing what different terms mean when it comes to saving money and choosing a savings account can mean the difference between maximising your savings or giving it all away to your bank.

Here are a few terms to help you get started.

1. ATM: ATM is short for automated teller machine. An ATM is a machine that is generally located outside your bank that allows you to deposit and/or withdraw cash from your savings account 24 hours a day 7 days a week.
2. ATM Card: An ATM card is a plastic card with a magnetic strip on the back that is encoded with your account information. When inserted into an ATM, the mag reader decodes the information located on the mag stripe on the back of the card and allows you to access your savings account.
3. Balance: Your balance is the amount of money you have in your savings account.
4. Deposit: A deposit refers to the amount of money you are putting into your savings account at any given point.
5. Direct Debit: A direct debit occurs when a payment is made directly from your savings account. This occurs more often with current accounts (known as ‘Checking’ accounts in the US and Australia, but can affect savings accounts as well. Think of it like something that ‘pulls’ money from your account…rather than a standing order that does a similar job but it is you ‘pushing’ money into another account.
6. Electronic Banking: Electronic banking refers to the process of accessing your savings account via the Internet or mobile device to check your balance, set up a payment, or make a deposit. This can also be referred to as Internet Banking.
7. Excess Usage Charge: Many banks will assign a limit to the number of transactions (deposits/withdrawals) you can make from your savings account each month. When the number of transactions exceeds this assigned limit, the bank will charge your account a fee.
8. Interest Rate: The interest rate is the amount of interest your bank will pay you for the privilege of being named the custodian of your cash. Most, but not all savings accounts will earn interest on the balance of your account. In this case, the higher the interest rate, the better your rate of return on your deposit. There are two types of interest: simple and compound.
9. Online Account Opening: This term refers to the process of opening a savings account with a bank through the use of a computer and the Internet.
10. Over the Counter: Over the counter refers to the process of making a deposit or withdrawing cash from your savings account within a bank branch.
11. Overdrawn: Being overdrawn means that you have withdrawn more money from your savings account than you had available. Most banks will allow your savings account to become overdrawn in certain instances and charge a fee.
12. Personal Identification Number (PIN): Your PIN number is a code used to access your savings account when using an ATM or Internet banking.
13. Savings: Savings refers to the money you set aside for use at a later time.
14. Savings Account: A savings account is a bank product designed to help you with your savings goal. You deposit the money you wish to save into your savings account and allow it to grow with each subsequent deposit and interest payment.
15. Simple Interest: Simple interest is the amount of money your bank pays you based on the balance in your savings account. Some banks pay monthly while others pay annually.
16. Statement: A statement is a record of all of the activity on your savings account for a 1 month period. Deposits, withdrawals, payments, and interest will all be recorded on your monthly statement.
17. Teller: A bank employee whose job it is to assist you with your banking transactions.
18. Terms and Conditions: These are the rules that govern your savings account. The cost of maintaining an account, the interest rate, and many other details are included in your account’s terms and conditions.
19. Transactions: The movement of money into or out of your savings account.
20. Transfer: The movement of money from one account to another.
And these are just a few of the terms you can familiarise yourself with in order to become a more savvy saver. Becoming a more knowledgeable about the terms used will help you make wiser decisions regarding who you choose to watch over your money.

These tips are brought to you by Andy, the co-founder of SavingUp.com.au, a comparison website specialising in savings accounts. Check out their guides to saving money for more helpful articles.

For more about Saving Money check out these other Magical Penny articles:

Should You Get A Junior ISA? | Junior ISA Explained

Saving Money – Learn By Doing

Confessions of a Procrastinator -And Why You Should Be Saving For Retirement Today

Welcome to the Festival of Frugality #318 Magical Penny edition, brought to you from the UK by Adam from Magical Penny.

It was a lot of fun reading through all the submissions. We’re a diverse crowd but we’re all helping each other save money in this crazy world.

Frugal is Sexy

Let the Festival Commence

Editors Pick #1

Of course, being a single 20 something guy, there could only be one winner for the best of the best post submitted to the Festival of Frugality this week….and it goes to Steve Zussino who wrote: Have you ever seen a frugal celebrity? posted at Canadian Personal Finance.

In the article he explains how actress and celebrity Zooey Deschanel recently showed that she earns an average of $95,000 a month and her expenses average $22,550 per month. This means she saves 76% of her income!

My kind of girl!

Who said being frugal wasn’t sexy?

OK, now I’ve spent far too long finding the right picture to go with this post so it’s time to move on….

Favourite #2

I loved Roshawn Watson’s  4 Reasons You Should Set Unrealistically High Goals posted at Watson Inc. He don’t believe that all goals should have a strong basis in reality and gives 4 reasons you should set unrealistically high financial goals. I love this – don’t be limited by what you think is possible when it comes to rocking your finances.

Favourite # 3: “Despite appearances, this organic tomato did not taste like ass”

As soon as I read this quote in Centavos’ post: Kitchen Gardening, the Accidental Side Gig posted at 101 Centavos, I knew that it would make the grade for the festival. The article explains that it’s currently wintertime and  cold in most parts of the country  but he experienced a balmy, uncharacteristic 61 deg F yesterday in Tulsa. Read how he created his accidental side gig with kitchen gardening.

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Favourite #4 

Connor has written a great article: The basics of charitable contributions posted at Tax on Tax Off. He has been through US tax code, specifically Publication 526, so you don’t have to! Particularly useful at this time of year when charitable giving tends to be highest.

Favourite #5 

Finally, as an Editor’s Pick, Lindy had me stunned with her imagination – she blogged about how she turned  One Piece of Plywood, into Three Pieces of Furniture at Minting Nickels. Specifically this article describes how she turned one $42 sheet of plywood into three pieces of furniture (it’s easier than you might think). This post sums up what being frugal is all about!

Great work Lindy.

Best of the Rest

The personal finance legend that is Philip Taylor presented Improve Your Finances posted at PT Money Personal Finance. Days 1 through 6 in a month-long series aimed at helping readers take small, actionable steps towards overall financial improvement.

It’s so comprehensive it’s definitely worth a read.  Philip also organises the Financial Blogger Conference. Incidentally I’m hoping to attend this year so if you are too, I’d love for you to get in touch and I look forward to seeing you in person in September.

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Health and Fitness Frugality

As it’s New Year, it’s no surprise to find some health related articles written.

Fanny presents Before You head to the ER posted at Living Richly on a Budget. Have you ever contemplated whether or not to go to the ER? Could you wait it out until the doctor’s office opens in the morning or do you have to go in just to be safe?

This article provides some tips to help you decide. Reading this made me thankful that I don’t have to worry about the cost of medical bill in the UK. Yes I pay higher taxes but I don’t have to worry about being frugal with my health. Those of you in the US, sometimes do and this article is helpful for outlining your options.

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Kennedi presents Diets That Can Lower Your Budget posted at Face and Fitness.Summary: So you’ve made two New Year’s resolutions. One is the ever-popular vow to lose weight and the other is to trim your budget. Those may seem incompatible at first, but guess what? You really can do both at once.

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UK based Harri Pierce presents How to get round rip-off gym fees posted at TotallyMoney, an article that reviews low cost gym options in the UK.

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Glen Craig presents Alternatives to Joining the Gym posted at Free From Broke . Oh the gym membership! How many sign up with a resolution only to quit a month later, stuck in a membership plan? There are alternatives to joining the gym though. See them here.

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Jon the Saver presents Keeping the Doctor Away with Quality Foods posted at Free Money Wisdom.Eating healthy doesn’t have to be boring and it doesn’t have to be expensive. I am here as a testament to say that I felt better than ever on this healthy lifestyle change and spent less.

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Shaun presents New Taxes on Health Insurance Premiums in 2012 and Five Ways to Save on Health Care Expenses posted at Smart Family Finance.The government is levying new taxes on health insurance premiums in 2012. While your health care plan costs will increase, there are ways to lower your bill.

Green Frugality

Jacob @ My Personal Finance Journey presents Green Energy Makes Green Money posted at My Personal Finance Journey.This post highlights the importance of using green energy, and illustrates how by going green saves you money in home energy costs.

Win, Win for the planet and your wallet.

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Miss T. presents How Your House or Business Can Invest in a Greener Planet posted at Prairie Eco Thrifter. Fossil fuels continue to ruin our environment, and as they are also running out it is time for us to understand how we can use renewable energy for all of our business and home needs. Quite possibly the most important thing for us to do to ensure a greener planet in the long run is to educate our children, but you can’t do that if you’ve not educated yourself. Here we will look at how you can start to make a difference.

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SB presents How to Keep Heating Bills Low This Winter posted at One Cent at a Time.

Some innovative frugal ways to keep heating bills lower this winter or every winter. Some techniques to consume lower electricity and some to use alternate an cheaper source of energy to keep your heating bills lower.

Property Frugality

Justin presents why to Consider Refinancing Now posted at Money Is the Root.As imperfect of a measurement as 10-year treasury bond yields are, they are the best barometer we have for gauging the movement of mortgage rates. If we follow this methodology then it appears that rates could fall even lower in 2012, however, being adverse to gambling with my personal finances I am happy to take a signifcant rate cut right now, plus the savings begin now rather than later.

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John presents How We Plan to Pay Off Our Mortgage Early (Jan 2012) posted at Passive Family Income. Each month I continue to analyze this data, I am more encouraged and motivated to pay down our mortgage – one month at a time. As you can see from the numbers above, there are huge benefits to paying down your mortgage early.

And the Rest

Kay Lynn Akers presents Strategies to Save on Groceries posted at Two Savvy Sisters. Food is a large budget category, but these strategies will keep you from having to subsist on beans and rice. As a lover of food, this is a must read.

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Little Miss Moneybags presents The Value of Tracking Things posted at Little Miss Moneybags. I liked this article because tracking things is a powerful way to stay on track. You need to be focused to accomplish goals and tracking is a great way to do just that. What will you track in 2012?

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Marjorie presents How can stay at home parents get credit cards? posted at CardHub.com.Prior to October 1, individuals were able to apply for credit cards using their household income; however, this is no longer the case. If you are a stay-at-home parent, it’s understandable if you’re now concerned about your ability to build credit under your own name. Luckily, this is neither what the new rule regarding individual income was intended to bring about, nor its ultimate effect.

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John presents The Best Rewards Credit Cards For You posted at Wallet Blog.Rewards credit cards are a success in marketing. I mean, who wouldn’t want rewards? They sound fun, beneficial and as if you are automatically getting more bang for your buck. However, this surface attractiveness also belies the fact that these cards are not for everyone.

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Karen Bryan presents Are You a Miser? posted at Help Me To Save. While being frugal is usually perceived as positive thing, when do you become more of a miser?

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KT presents Consider Making New Year’s Goals, Not Resolutions posted at Personal Finance Journey. I enjoyed reading this article because it’s exactly what I do each year. A Goal is for Life, not just for Christmas!

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Mike Collins presents How to Work from Home When Caring for Young Children posted at Saving Money Today.Working from home can be a challenge when you have young children running around the house….apparently!

What do I know?!  

Thankfully the writer of this post, does know and presents  some tips for balancing family time and work time.

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Kelsey presents Versatile Salt: 10 Household Uses posted at Money Mum.If you think table salt can only be used to season your food, think again; salt is actually an incredibly versatile material to keep around your home for everything from cleaning to home repair. Since it’s also quite natural and inexpensive, learning how to utilize salt in a variety of ways can be great for both convenience and saving money.

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Janet presents Start 2012 Off Right: How to Make a Spending Plan posted at Credit, Eh. A spending plan helps you direct your financial resources, providing you with a road map that (hopefully) reflect your priorities and goals.

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Dr Dean presents Decisions: How You Can Improve posted at The Millionaire Nurse Blog.Do you make good decisions? The decisions we make impact all areas of our life, including our finances. Join me in a review of the process and ways to improve your method for making good decisions.

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Squirrelers presents Spend Wisely: 2 Simple Questions to Ask Before You Buy posted at Squirrelers.If we want to save money and watch our expenses, it helps to have self-control. This post introduces 2 simple questions to ask before making a purchase.

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Squeezer presents How to save when shopping for clothes but still dress fashionable posted at Personal Finance Success. Wearing clothing is a fact of life. But that does not mean that you have to spend thousands on your wardrobe to look your best. This article will provide you with tips you can use when shopping for clothes that will save you large sums of money.

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Miranda presents 50 Home Business Ideas posted at Financial Highway. Many of us want to earn extra money from home. And, indeed, starting a home business can be a good way to cultivate additional income, and help you reach other financial goals that you might have. From creative business ideas, to the more mundane, here are 50 home business ideas.

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FMF presents How Much Do You Actually Save at Outlet Malls? posted at Free Money Finance.The average price discount across all outlet stores was 24% compared to their standard retail equivalents.

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Crystal presents Vegas on a Budget posted at Budgeting in the Fun Stuff.I’ve been to Las Vegas a total of 3 times – the town is always changing. My first visit was the least expensive, so I’ll provide some information on where I cut costs, as well as general tips on where you can!

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Forest Parks presents In Debt, You Should Stop Donating posted at Boomer & Echo.It’s a great feeling to give money to charity but sometimes, if you’re in debt, it may not be the responsible thing to do.

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Lisa presents Living on a Budget and Your Pet’s Last Days posted at Thriftability.No one wants to choose to put their pet to sleep, certainly. No one wants to lose a part of their family. Becoming aware of your pet’s condition can give you both the peace and insight to make such a decision – if it is right for the pet. It may not be: you might have a good treatment option available, or your pet might be best living out his or her final days. In other cases, putting your pet to sleep can put a peaceful and calming end to his or her life, and can be best.

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Mr. Money presents Dress for Success: Business Attire for Less posted at Smart on Money. As a recently graduated college student on a budget, here is how I built my professional wardrobe:

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Erika presents 2011: A Year in Review posted at Newlyweds on a Budget.January 2011 started off with a bang. We had just paid off our credit cards, I had started my new job and it seemed we were finally getting control of our budget. Then we decided to do a fun money account for Eric. We put separate money into his own account that he could spend…

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YFS presents A 6 step plan to dominate your debt posted at Your Finances Simplified. : Do you feel like you’re falling into a pit of debt and it’s almost impossible to claw your way out of that mountain of bills? Instead of sitting on your butt and staring off into space yet again, you may want to try a really simple debt repayment strategy!

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Corey presents What to Do When You Are Behind in Debt? posted at 20s Finances. Summary: This article explains what to do when you get overwhelmed by your debt. If you fall behind, is it best to give up?

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Amanda L Grossman presents The Big Reveal: Did We Meet our Goal of Saving 50 Percent of Our Take Home Pay in 2011? posted at Frugal Confessions. In a word, no. But what a great experience! I always believe that you should shoot for the heavens because when you miss you will still fall among the stars, and I believe we have, read more to see if you agree!

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Paula presents Save Money … By Traveling? posted at Afford Anything. Most people focus on saving money TO travel. But can you save money BY traveling?

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Marie presents Save Money on Rental Cars posted at Money Spending Mommy. Don’t slack when it comes to looking for rental car deals. If you spend as much time trying to find them as you would on other travel needs, you could save quite a bit of money.

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Hank presents Eight Ways To Save Money On Car Repairs posted at Money Q&A.Even if you are not knowledgeable about taking your car to the mechanic, there are several ways that you can save money on car repairs. You can educate yourself on ways to save money on car repairs.

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Eddie presents From Homeless To Successful – The Story Of One Entrepreneur posted at Finance Fox.Despite tough obstacles we encounter in life, we must keep pushing forward. Resources exist to us for taking and making something out of our selves. Whatever your life goal or dream, remember, it’s never too late to get started.

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Finally, Daniel presents Free ATMs Are Coming! Will You Leave Your Big Bank Now? posted at Sweating the Big Stuff. This story made me smile because in the UK ATMs are almost always free….apparently it’s coming the US and it’s considered a novel idea

Thanks for reading this Festival of Frugality. I hope you enjoy reading the posts. It would be great if you could stick around on Magical Penny and join the newsletter.

Finally, I’m set on attending the Financial Blogger Conference in September so I can’t wait to meet you if you’re attending! Shoot me an email: adam AT magicalpenny.com

When I blog, nothing else matters if I don’t hit ‘Publish’.

Without pressing the ‘Publish’ button all my intentions and planning and behind-the-scenes work has no effect.

Do you ‘Hit Publish’ in your life?

Similarly, reading personal finance blogs and books are great for getting you more clued-up, but if you do not ‘hit publish’ by opening a savings account or setting up an investment portfolio then you’re not going to building your savings up for the long term.

Hitting publish is scary.

You’re making intentions real. And if they don’t work out, then you open up yourself to the possibility of  potentially made a bad choice.

• What if I can’t afford to save a certain percentage of my income?
• What if I pick bad investments and lose money?
• What happens when I try my hardest to put money away but I have to dip into my savings?

You won’t know until you ‘Hit Publish’ on your plans

I started in investing in October 2007.

Yep, the peak of the stock market before the crazy ‘crashes’ of 2008 and 2009.

But I’m so glad I did. If I had waited just a few months I’m sure I would have freaked out as I watched investments around the world go lower and lower. But I had started so I kept going. And, in fact, as I continued to invest into tumbling stock markets I’ve actually come out ahead so far. Four years of investing and my investment accounts are in the positive, and currently value much more than they would have been if they had simply been saved in cash.

I ‘Hit Publish’ on my investing plans. And I have continued to invest and learn.

It’s January as I write this. Money is tight for most of us after Christmas spending. You may be tempted to wait to get your money-game in order because it’s not the right time.

But, it’s never the right time.

There’s always more research we could do, or wait until a more favourable time when we have more spare time or spare money. But that time never comes.

Hit Publish. You’ll learn so much on the journey and it’s easier to tweak your plans once you’ve started than getting started.

Hit Publish.

2011 was a crazy year to be an investor.

Even someone with relatively small portfolios could have lost thousands of pounds in a month. I know I did!

I recently came across a great info-graphic that sums up the year well, particularly the fact that low-cost funds out-performed higher cost funds. You may think this is obvious but when looking to invest, the higher cost funds are the funds that have advertising budgets and marketing designed to make you pick them over cheaper funds.

There will be more posts at Magical Penny explaining how to invest in low-cost funds so be sure to sign up for updates but, for now, enjoy the info-graphic.

Source: https://www.rplan.co.uk/post/1067/an-investor-s-2011-the-year-in-numbers-infographic

Which figure surprised you the most?

Leave a comment below.

Other Magical Penny articles you may like:

Losing £1000 in the Markets in a Month | How To Invest Profitably and Care-Free

3 Reasons to Open a Self Invested Personal Pension