Category Archives: Saving

Easy tips to cut on your monthly spending

Cutting costs here and there doesn’t make you greedy, it simply makes you reasonable. Everyday, you spend more than you should, and pay the price at the end of the month. Globaleye looks at the simplest step you can take to reduce your expenditures.

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The electricity bill is the first place to look at. Even if you don’t realize you’re overspending, you probably are. Many items in your household are likely to continue to consume energy when you are not using them. Basically every single item in your house that displays a digital clock is consuming. Now ask yourself: do you really need to see the time on your microwave or DVD player? Of course unplugging all these devices can be time consuming, which you don’t want either, but simply using various power strips that you can turn off when you’re not using them could mean saving a significant ammount when the electricity bill comes.

Talking about needless expenditures, look at other items you’ve got at home. It’s the 2010’s, and if many things around you seem natural to have around, you’ll realize that you don’t need them anymore. For instance, when was the last time you used your landline? Chances are you take most -if not all- your calls on your mobile phone, so why not just get rid off it? On a similar note, do you really need cable TV? Of course it’s great to sit on your couch and surf between hundreds of channels, never finding something you actually want to watch, but why not take a look at the many alternatives out there? Netflix or Hulu can be much better alternatives, or Itunes and Amazones if you rely mostly on your laptop.

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Another easy and quick way to cut costs is to pay a bit more attention to the deadlines for payment: it may seem obvious, but everybody misses a due date once in a while. Of course it’s not the end of the world, but a few fees here and there can quickly add up. There are a bunch of bill tracking system and apps that you can use today (think Mint and the like) and make sure you never loose money on a late payment again.

Finally – and this may sound like grandma’s advice right there – when was the last time you packed your own lunch? Wherever you work, chances are you’re nearby a cafeteria and a bunch of restaurants, but even the cheapest option for ready-to-go meals are much more expensive that a decent home-made sandwich. If you think you don’t have the time to prepare lunch everyday, think of taking a couple hours to cook big during the week end – a massive salad or chili can have your lunches covered for days.

If all these advices sound a little obvious, just give it a try for a month and see if put together it doesn’t make a difference. We assure you it will.

Start 2014 Anew: Saving Tips from Globaleye

The New Year means fresh starts, and a chance to create a new you; financially, personally, career wise, and more. So here are some tips from Gobaleye on different areas that can help you gain more success in 2014.

Exercise

If you don’t have your health, then it doesn’t matter what else you may have. Starting to get into a regular exercising routine will not only have immense benefits for your body, but your mind will be sharper and in just a week of sticking to a routine, you’ll already notice a difference and have more energy.

While going to the gym is the typical place to workout, it’s a common misconception that it’s the only place you can. Investing in a fitness ball, a pull-up bar and a few dumbbells can open up a lot of opportunities for exercising at home when you’re not able to make it to the gym. Also, keep in mind that you can still get the same benefits from body weight training (not using weights) – squats in a wide stance, side bends, holding push-ups, jumping-jacks, and other activities that combine strength with cardio. The key is to remember the higher the intensity, with fewer breaks, the more reward and improvement you’ll see.

Career shift

If you’re tired of your current job and looking for a refreshing change, you have to clean up your CV as it’s the first thing your potential employers are going to see and your ticket to getting an interview. The most basic point is to cut to the chase; employers generally have a lot of applicants and little time, so don’t waste your time with long run-on sentences or points that aren’t relevant – make sure your strongest qualities and experience are covered right of the bat and if they want to know more, they’ll ask. You’ll also want to highlight what makes you unique and separates you from all the other applicants, so think carefully what strengths you have that will be an asset to an employer.

And if you’ve been sending out the same version of your CV, you’re doing it wrong. You should be adjusting it to the needs and wants of each employer, because while two companies may be in the same industry, their mission and goals could be completely separate.

Also, spelling or grammatical errors are a definite deal breaker, so have someone else look it over before you submit it; a fresh pair of eyes is always a good idea to give you feedback and notice if anything is off.

Earning and saving more

There’s a reason a large portion of the wealthiest individuals are entrepreneurs – they utilize all of their strengths and find ways to develop basic things into profitable businesses. So maybe you have a hobby that could be earning you some extra cash by turning it into a home business, perhaps it’s knitting clothes or photography that you could try to sell online, either way there are plenty of ways to make the most of your activities.

Or maybe you’ve been working at the same place for a while and are about to get a raise. Instead of taking that extra cash and having some fun, the smart way to save is to stick to the budget you were operating off of before the raise, and stash the extra bit away, as if you didn’t even have it. Save it; invest it; just don’t spend it and it’ll make up for those dipping pensions. And if you’re not sure how or what to invest in, talk with a financial advisor at Globaleye to see how you can make the most of your money.

Remember, it takes some determination to stick to it, but if you do, by the time 2015 rolls around you’ll look back and see just how far you’ve come.

The Necessities of Emergency Planning and Saving

The Necessities of Emergency Planning and SavingSure, you save; in the financial world it’s a must. But most financial advisors will focus more on long-term investing and retirement plans, rather than give the proper emphasis on emergency planning, which for some reason always seems to get put on the back-burner.

Of course your Roth IRA is important, and so are your other investments. But all too often when something unexpected arises, most people aren’t prepared financially or logistically, which is made apparent after natural disasters, such as Typhoon Haiyan, Hurricane Sandy and and numerous other disasters, small and large, natural and financial, that no one thought would happen to them. So in the name of preparedness, below are some tips that you should take so you’re not caught off guard and ensure your retirement fund will be there to enjoy.

1) Always have cash

From disastrous storms, to the banking crisis in Cyprus, one thing to remember is most likely credit cards won’t be an option for payment and ATMs won’t be working, so as the saying goes, “cash is king.”

It’s always a good idea to have a couple hundred dollars stashed away, because if you aren’t fully prepared and need more supplies, it’ll probably be your only means of getting water, fuel and food.

2) Have an emergency kit.

Most recommendations for an emergency kit include enough food and water for no less than three days, along with tools and a first aid kit (which can be bought easily online). Emergency kits include those basic items, along with flashlights and a radio so you can still hear any news on emergency broadcasts. If you are unsure about building your own kit, you can buy one here from the Red Cross.

3) Stock up on non-perishable foods

As mentioned before, most basic emergency kits only cover three days, so if there’s a real disaster, you’re going to need to be prepared and have plenty of food and water. Canned foods are always a safe bet because they last a long time and are generally ready to eat right away (if there’s no gas or means of cooking anything), so it’s very important to take into account you may not have the luxury of being able to heat a pan or boil water, which means rice and pasta, which do store well, may not necessarily be a good option.

Plus, you can always eat the food that was bought first and keep replenishing the supply so you’re always prepared and not sitting on a decade of old canned foods covered in dust. And even if it’s not an emergency, having some food stored away can be very helpful when going through a period of unemployment and saving is even more important.

4) What does your insurance cover?

Live in an area prone to natural disasters? Know which ones might be of risk and make sure you have personal insurance to cover it; from auto, health, disability, to homeowner’s or renters insurance, it’s an absolute must because the last thing you want is to have all your hard-earned savings drained having to replace something damaged or lost because it wasn’t insured.

Also, if you’re the main provider for your family, make sure your life insurance will be enough to support them. And if you have a considerable amount of assets, looking into long-term care insurance and umbrella liability is a good idea

5) Save some for a rainy day

Not all savings in you bank have to be specifically for a disaster, because an emergency doesn’t always mean you’re safety is dire straights, it could just mean you’re unemployed and need to fall back on some cash reserves until you’re back on your feet. As the financial crisis during 2008 demonstrated in Dubai, having enough money saved to cover mortgages and loans can mean all the difference, and Globaleye can help every step along the way to make sure you’re prepared

 The amount recommended for your emergency savings varies, depending on the individual’s financial situation and the stability of your income. In general, having six months of salary stashed away is a good goal to have, and focus on fulfilling that goal before paying off debt. It’s also wise to keep these funds in an insured bank or credit union, that way you can be collecting interest with no risk. That, or using a Roth IRA can suffice; traditionally it’s not used this way, however you are always able to withdraw the sum of your contributions at anytime without paying any penalty. And the latter option proves to be a great call because if there’s no need to pull out these funds early, you can simply invest more rigorously for retirement.

The bottom line, be prepared so your hard-earned money isn’t needlessly expended when it could’ve been prevented. And don’t only think in terms of a disaster, also keep in mind unexpected unemployment which could always come at the least convenient time, because your ultimate goal should be a stable and fruitful retirement with good investment returns.

Globaleye – Committed to Providing Top Quality Business Solutions

Even long established major corporations do not always have it all figured out,  which is why they know how vital it is to have a reliable group of financial advisors who can take a step back and assess the situation from all angles.  Globaleye, in its 13 years of work, has successfully grown a strong client base all over the world.  Known widely for being an independent firm that provides unbiased business solutions, it has become the premier go-to consultant of important international companies seeking financial planning assistance.

Many companies directly sought the services of Globaleye during the height of the global recession. The business financial planning assistance that the group provided secured the financial status of a number of companies. When major business groups left and right were forced to terminate their operations because of the strain brought about by the unstable global economy, these companies remained operational due undoubtedly to the expertise of the advisors from Globaleye.

Globaleye’s mission statement is, “to deliver unbiased financial solutions to corporate and private clients worldwide with an onus on innovation, service and professional integrity.”  This is easily vouched for by the fact that the group is not associated with any investment organization which is the very reason why their clients always have the assurance that their complete satisfaction is the sole objective of the company. This client-centred approach is one of the driving forces behind the success of the company; every service provided by Globaleye is tailored to the specifications of their clients.

It’s also important to note that Globaleye has upgraded its service through the creation of the Globaleye Bulletin Service, or GBS.  The GBS keeps subscribers up to date with the latest developments pertinent to the different business industries. Another new and important provision is the Globaleye Portfolio Service, or GPS, which provides a monthly email updates on the financial plans of clients. With these new programs the group’s clients easily have access to all the important information that affects financial planning trends thus giving them the advantage of incorporating new strategies to prevent any changes from impacting their businesses in a negative way.

It’s no wonder, in a relatively short span of time, Globaleye has managed to establish a client base of over 7,000.  The group exceeds the usual provisions of competing financial planning firms, goes the extra mile in making sure that they only provide top quality financial solutions, and it has even won the title of Personal Lines Broker of the Year in the Gulf Insurance Review Awards and, Policy Magazine’s Middle East Insurance Awards, and the MENA Insurance Awards— truly their clients can no longer ask for anything more.