Cars and the 50-3 guideline

As a very rough guide, cars generally depreciate by 50% over 3 years. Whether this depreciation is a reduction on the amount you paid initially for the car outright(preferable) or through the monthly charge for leasing or PCP, it is still an amount that has to be paid. For example: New small family car – £18,000 After 3… Read More »

When the tide goes out…

“When the tide goes out, then we will see who has been swimming naked” is my favourite Warren Buffett quote. Let’s look at two people, Bob and Billy, who want the same things: – the latest fruit smartphone £700 – a flash watch £1,000 – a sporty new car £19,000 (for example a Ford Fiesta ST) – a… Read More »

Beware of ‘saving’ money by spending it

If you buy something with a retail price of £500 for £300, have you saved £200? Or actually just spent £300 that you weren’t planning to? When making purchases it is important to consider three points: 1) Is the retail price genuine? If you have been considering a purchase for some time then you will know what the… Read More »

What is the real world range of an electric car?

I like electric cars – the quietness, smoothness and torque are much better than traditional cars. Indeed, the current hybrid I drive IS an electric car in certain situations. I have looked into full-electric cars to see if sometime in the future a second-hand one might be suitable. Looking at the figures, it is only now that we… Read More »

How to fund your side hustle

When you are starting a new business, the absolute best way to fund it is via cash savings – there are actually several hidden benefits of doing it this way: 1) No interest payments – if you borrow money then there will be an interest charge. Instead, the money you would have spent on interest is available to… Read More »