What are the best forex currency pairs for beginners to trade?

If you are looking for ways to improve your finances, investing is certainly something worth thinking about. The right kind of investment done well can offer a much better return than your spare money simply sitting in a savings account. One market that many people in the UK are starting to look at now is forex. This is the biggest financial market on the planet and sees trillions traded each day.

Investors here choose currency pairs to trade and try to predict whether the price of the pair will go up or down. If you plan to dip your toe into the forex market, you just need an internet connection and some starting capital. You would also need to sign up with a reputable online broker to trade with. Doing your research here first is key so that the broker you pick is a decent one – this AvaTrade review gives an idea of what to look for.

Of course, choosing which currency pairs to trade is also important. But which are the best for new investors to try?


You will find the US dollar in many FX pairs as it is such a major global currency. When combined with the euro, it is a good place to start for new traders. As the euro is also an important global currency, this pair has good stability and liquidity. This means that you will have no trouble finding trading opportunities but should not get overwhelmed by rampant instability. The bid-ask spread is usually low on this pair, which helps in terms of trading costs.

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VAT: What is it and why do businesses pay it?

If you are self-employed you may have already realised that you might have to register for VAT. If, however, you’re slightly confused about what this means and how it applies to you, you certainly are not alone.

VAT can seem very confusing when you first begin to look into it, so make sure you know all the facts before you move on:

What is VAT?

VAT stands for Value Added Tax and is applied to many different things. It can be used on:

–       Products

–       Materials

–       Services

–       Entrance admissions

What products are excluded from VAT?

Some products and services aren’t eligible for VAT. These include:

–       Insurance

–       Finance

–       Charity fund raising

–       Membership subscriptions

–       The selling, leasing or letting of commercial properties and land

When do I have to register for VAT?

Once your annual turnover exceeds a certain amount, you must by law register your business for VAT. The threshold for this is £77,000. If you believe that your turnover will go over this amount within one month, you must register for VAT at the beginning of that month so as not to break the law.

Why do I have to pay it?

You must by law register for VAT, otherwise you could be fined a considerable amount by HMRC.

Whether you set up a business, take over a business or have only just built up your business to go over the threshold, it is your responsibility to apply for VAT. If your turnover does not exceed the threshold, you may also be able to apply for voluntary registration which can come with many benefits.

Why would I want to voluntarily register for VAT?

Voluntarily registering for VAT could help to give your business credence, which may make customers trust you more. You might also be able to claim some tax back, which could give you a weighty tax return at the end of the tax year.

However, you will also need to consider these facts:

–       You will need to keep a closer eye on your input and output tax in order to account for everything if you are to claim back tax later on. Input tax is the VAT you pay for supplies for your business. Output tax is the VAT on supplies sold within your business. You may be able to claim back input tax.

–       Your VAT records will also need to be kept one hundred per cent clear.

–       You must send out your VAT returns on time, otherwise you could be fined.

How do I register for VAT?

You can register for VAT online and by post. If you find that the forms are a bit too confusing though, you might want to ask an accountant to help you.

VAT can seem incredibly confusing when you first begin using it, but after a while it will become second nature to you.

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Easy Ways to Improve your Finances in 2020

The new year is here, and for many of us, that means it’s the perfect time to start making some positive changes in the way that we live our lives. For some people, the new year is a new chance to start a diet and lose some extra weight. Other people make a resolution to stop smoking or cut down their drinking habits.

One resolution that most Brits can afford to make this year, however, is the decision to cut costs and improve their finances. Even if you’re not struggling to make ends meet, it’s always a good idea to check out some ways that you can keep extra cash aside for the future. That’s why we’ve put together this list of easy ways to improve your finances in 2020.

Keep Your Receipts

Some purchases are easy to keep track of. When you take out a loan for your new car, you can easily see how much you’re spending for it each month. However, one-off expenses are easy to overlook when they’re only very small. If you’re only spending a pound or two on some extra treats for the kids when you’re out grocery shopping, it’s easy to forget all about it.

However, keeping track of all of your expenses will ensure that you’re the first to know when you’re developing a spending problem. Keeping your receipts, or tracking your costs with your online banking system will help you to figure out where you’re overspending.

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Here’s How you Can Start Saving More Money Pronto

No matter where you might be in your financial journey, it’s always possible to learn how to be better with your money. Whether you’re starting out with your first job and you’re putting money away in a savings account for the future, or you’re planning for retirement, we’ve all got goals in mind for the cash that we earn. Fortunately, there are lots of things that you can do to make sure that you’re set up for success with your cash.

Sometimes, all it takes to transform your relationship with money is one step in the right direction. For some people, it will be the decision to start using and managing a budget. For others, the decision to use envelopes of cash could change everything.

Here are some quick ways that you could start saving more money, pronto.

Stop Automatically Renewing

Automations make life easier more often than not. Being able to pay for your bills using direct debits that you set up through your bank will mean that you’re less likely to spend a fortune on things like late fees and overdrafts. However, that doesn’t mean that you should be automatically paying for everything.

Many companies, including the ones that provide your gas, electricity, and insurance, will assume that you automatically want to renew your service for another year if you don’t’ cancel when your subscription is about to run out. While allowing that renewal to happen can be a convenient option, it also means that you might not be getting the best deal. Take some time to look around for better offers before you allow yourself to renew.

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Should you keep all of your money in the bank?

Keeping all money in the bank is a common practice, and if this is something that you do then you’re certainly not the only one. But while it may seem like a good idea thanks to statutory protections, this is not necessarily the case. Inflation can also have an effect, which ought to be taken into account. This article will explore the pros and cons.

Yes: it’s the ultimate safety net

Deposits made to banks in the UK are protected under a scheme known as the Financial Services Compensation Scheme. Deposits made with each banking company (not each bank brand, and some companies own several banks) are protected up to £85,000, meaning that if the bank goes out of business, you’ll get your cash back. Investment vehicles which can rise and fall in value are not protected, meaning that banks are often seen as especially safe.

There are more advantages to using a bank, especially when it comes to quick withdrawals. Bonds, stock portfolios and more often insist that you lose access to your money for a fixed period of time in return for higher returns, or they may take a long time to withdraw simply due to the level of administration required.

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Are Balance Transfers Still a Good Idea

Spring is a good time to review your finances and one area that just about everyone can work on would have to be credit cards. Unlike other finance guides, we don’t think that credit cards are a bad idea. In fact, you should have a few cards in your wallet for a variety of reasons. You can earn rewards, have a source of emergency funds, and also have a chance at building better credit for larger purchases in the future. In fact, it would be very difficult to prove to mortgage companies that you can handle a mortgage if you’ve never had any credit cards.

The problem is that people can get over their heads, charge up too much on a card, and throw off their credit profile. Yet the good part about rebuilding credit is that there are plenty of ways to do so, and balance transfers is just one tool of many to achieve this goal.

But are balance transfers still a good idea? Should you consider a balance transfer with zero interest? There are still plenty of great credit cards that have amazing offers for new customers. If you’re going to explore your options, there are a few things that you should know first.

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Fabulously Frugal ways to rebuild a poor credit score

Over the last few years, we’ve all become hyper aware of our credit score and what affect it could have on our lives. And with good reason.

At some point, we’re all probably going to want to take out some kind of credit. A poor credit score could, for example, result in us struggling to get a mortgage, leaving our dream home just that: a dream. Even getting a simple credit card could be challenging.

And it’s not just your ability to borrow money that a poor credit score can affect. What’s more, your credit history could even make it problematic to get a mobile phone contract.

While there are loans for bad credit, rebuilding a poor credit score is possible.

Pay your bills on time

One of the simplest ways to boost your credit score is to pay your bills on time.

Making sure that you pay your internet bill when it is due, for example, will show lenders that you are able to manage your finances.

If you can, consider paying your bills by direct debit. This should help you to avoid any late or missed payments.

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