Your Questions About Make Money Quickly Uk

Mary asks…

Where’s the best place to quickly sell a gaming PC for a good price around Birmingham, UK?

I don’t want to sell it at all but I need the money to buy a new diesel injection pump for my car. Obviously places like Cash Converters only pay a pittance so do you know of anywhere better?

Nagesh answers:

Try craigslist 😀

Sharon asks…

If we have debt should we pay this off before starting a retirement fund?

My husband and I have quite a bit of debt (mostly student loans). We are wondering if we should put all our available money to pay off these loans or start our retirement fund immediately? We are 22 and 23 years old. If we put all our money into paying off the loans, we could do it in about 4-6 years.

Nagesh answers:

You should always pay off debt as quickly as possible because the interest you are paying on the debt is always higher than the interest that you can get on your savings.

The only two exceptions to this are:

a.) If you are paying a very low rate of interest on your loan, for example UK student loan or subsidised loan from employer.

B.) If you have no savings at all, you should always aim to have a small nest-egg equivalent to a couple of month’s salary for emergencies.

Charles asks…

How can i make money quickly?

Im a 15 year old kid in the UK. I want to earn some money for a holiday im helping to save up for… I have benn told the usual “Babysit”, “Dog Walk” and “Wash Cars”. But that’s so hard nowadays, nobody wants a kid doing that for them. A paper round is an option i took into mind but it’s so low pay and you have to work really hard and early in the morning. So anything other than these would be very helpful thanks! 😉

Nagesh answers:

Start an errand and odd job service for the elderly people in your neighborhood. Print up flyers on your PC and hand them out to your neighbors. If business picks up, hire some of your friends to help you.

Ken asks…

Looking to buy a second hand car in the UK?

I just passed my test yesterday, and I’m looking into buying a second hand car. I want something quite fancy, but I don’t have any money saved up. So would someone be able to send some links to websites with second hand cars, where I can pay monthly?

Nagesh answers:

You will need money for a deposit to be able to get a car on finance as well as money for the insurance which will need at least 2 months payments up front to get it started.
With no driving experience, and wanting a used car you do not qualify for the Peugeot “Just add fuel” scheme or any other that may give free or included insurance.

One result – you need to save some money up. A used car could need hundreds spending on it quickly after it has been purchased so you also need cash in reserve when running a car

Ruth asks…

Is there any advantage to setting up a management company in a building with only two flats?

I own the lease of the top floor flat in a converted two floor terraced house in the UK. There are only 2 flats in the building. The freeholder is selling the freehold to myself and the woman who owns the lease of the flat below.

Is there any point setting up a management company? If myself and the other owner disagree about maintenance, it will make no difference whether we have a management company or not, and if we have a management company, then there will presumably be administration that needs to be carried out.

I am just wondering what benefit there could possibly be – or should we just own the freehold jointly and leave it at that. Can anyone give any advantages / disadvantages?

Thankyou for your advice.

Nagesh answers:

You do not have to set up a management company, you can use a deed of trust instead. Take a look here http://www.lease-advice.org/information/faqs/faq.asp?item=185

However, I would always recommend the management company structure even if you do not employ an outside manager. It is so much easier to enforce a breach of lease if the freeholder is a separate legal entity. Suppose the roof leaks and your downstairs neighbour refuses to contribute to its replacement because she wants a new damp proof course. Or, as actually happened in my building, the basement flat went ahead and spent the money and then asked us to reimburse her. Very quickly gets very messy.

Disadvantage: you have to keep proper records and file a return each year. Not such a bad thing.

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