How a prenuptial agreement will cover you when your marriage falls apart

Among millennials, prenuptial agreement or prenups are becoming more common. For various reasons, prenups are worth considering especially if one partner has more assets than the other, one or both partners have investments, or if you plan to have a family. Should you be signing too?

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A prenup is a legally binding contract that determines how spouses will divide assets and debts in the event of a divorce. Prenups are no longer reserved for the wealthy and famous or those marrying multiple times. Australians marrying later in life with more assets to protect and millennials who fear divorce look to prenups as a source of protection.

Are you curious about whether a prenup is right for you or if you’re considering signing your fiancé’s proposed prenup? If you do, it’s helpful to consider the pros and cons of a premarital agreement.

Discussing about prenup with your partner may seem daunting, but having a good communication with your partner is important especially when talking about wealth. It may sound scary but being open and honest about property, finances, and each of your expectations before the wedding may be one of the most beneficial aspects of the process.

The largest advantage of a prenup is that the couple, not the court, decides what happens in the event of a divorce. Without a prenup, the laws of the state determine what will happen to your future should you and your spouse split.

Prenups are ideal for couples with one partner having more assets at stake than the other. This is especially true if you own real property or other high-value assets, or plan to acquire any during the marriage.

Another reason for having a prenup is when one or both partners have investments or plan to invest, especially for long-term investments. If you have or plan to have any investment or retirement accounts or if you have vesting opportunities or stock options from your employer, it’s time to consider a prenup.

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Thinking of collaborating? Four factors to consider before partnering with another business

Having a partner to achieve a certain task usually makes thing easier than doing all by your own. Same is true when running a business – having someone with you to share the responsibility of managing the business and facing the problems that your business encounter and may encounter in the future gives more peace of mind.

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Business Collaboration

If you run a business together with one or more other people, your business is a business partnership. This is a business structure that allows you and at least one other person to both have ownership of the business. Even though forming a partnership might make sense, it’s not your only option. Before you form a partnership, you must know that this type of business structure has both advantages and disadvantages.

The most obvious advantage of partnership is having some other people who can help you with all the business tasks. Managing a business is not easy with all the constant busyness, smouldering problems and overtime works, so having more people who will divide individually. By having a partner, you can also get skills and knowledge that you don’t have from them. Your partner might also have past experiences that can help direct your business onto a successful path.

Another advantage of collaborating with someone is having less financial burden. Starting a business can be expensive. You might have costly overhead expenses for inventory, equipment, retail space, etc. A partner can ease your financial burden. Instead of paying for everything yourself, your partner can split the cost.

Meanwhile, one of the biggest disadvantages of business collaboration is that you can’t make decisions on your own. You must work with your partner to make decisions, or at least run all decisions by your partner.

Another disadvantage is you have to split profits. Depending on how many partners you have, your share of the profits can get fairly small.

Read this article to see if business collaboration is really for you:

Top-10 tips for not losing money in the share market

Historically, investing in the stock market has brought fruitful returns to investors over time. However, share market can also go down and present investors with possibilities for both profits and loss; for risks and return.

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The first rule of making money in the share market is not to lose it.
Photo by: WA Today

The good thing about investing in shares is that you can take full advantage when the economy is growing. Your corporate earnings grow as the economy grows. That’s because economic growth creates jobs, which creates income, which creates sales. Over time, the stock market tends to rise in value, though the prices of individual stocks rise and fall daily. By investing in stable companies, you can grow your money over time. Likewise, investing in many different stocks will help build your wealth by leveraging growth in different sectors of the economy, resulting in a profit even if some of your individual stocks lose value.

Secondly, the stock market makes it easy to buy shares of companies. You can purchase them through a broker, a financial planner, or online. Once you’ve set up an account, you can buy stocks in minutes. Several online brokers even let you buy and sell stocks today for free.

Another benefit of investing in shares is delayed taxation. Delayed taxation means that there is delay taxation on your gains. If you buy a stock and it goes up in value, you don’t need to file a return on the earnings. You only need to report your stock gains when you sell the shares for a profit. On the other end, if you lost money on another stock purchase, you can use the loss to reduce taxes on your other stock gains.

Buying company shares is easy, and same is true to selling them. The stock market allows you to sell your stock at any time. You can turn your shares into cash quickly and with low transaction costs. This is a great advantage since prices are volatile, and you can run the risk of taking a loss.

Want to learn some tips on winning the stock market? Read this article:

10 ways to increase the trustworthiness of your website

In today’s digital age, having a business but not having a business website is almost as if your business doesn’t exist. Nowadays, people and companies are on the internet for information. The main reason why people visit a website is for information. And if you’re in the business world, information is critical.

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Business website

All business owners should consider having a website for their customers. The website should serve as your customers’ main source of information about what you can do for them.

Having a business website is advantageous. Unlike before where the idea of having a business website was just for large companies and corporations, these days small and medium-sized business should build their own websites.

The biggest advantage of having a business website is it allows businesses to promote their products and services less expensively compared to promoting on television, radio and print media.

Another advantage of having a website is giving your customers convenience. You make it easier for your customers to talk and buy from you. Most of your consumers will be more likely to visit your website, rather than driving a car to your physical location and browsing for your products.

Furthermore, your website gives your customer accessibility to your business. Through your website, you don’t have to turn away your customers because it’s closing time which may ruin your public relations. An online site can be visited any time of the day or night. Both existing and returning customers will look to your site instead of going to your shop because it is more accessible. Just make sure to post enough information about your products and services.

There are many more advantages to having a business website, but earning the trust of your target market is difficult especially nowadays wherein we can find millions of websites online and many of them are bogus.

So in order to increase the trustworthiness of your website, check out this article:

Failsafe colour combinations that work every time

Looking for tips and ideas on how to design the interiors of your home? When looking for interior design ideas, you can find a lot of resources especially in social media and internet. However, keep in mind that not all design tips and ideas that you see online will suit your needs and space.

The new Temple & Webster paint range includes Chateau, a super soft grey. Add deeper charcoals and tuimer accessories for a contemporary feel.

One major area to look at when designing your home is colour. Perfect colour combination creates mood to your interiors and of course beauty and design as well. However, choosing the perfect colours for your home can be a challenge especially that you can find a lot of colour samples in your average local paint store.

In a paint store, you can find of paint colours to choose from, each one having several shades of colours darker and lighter. It’s enough to make you go colour blind, but it does not have to be difficult when you take the pressure off and find fun ways to find the colours you love and that make you feel good.

When choosing your interior design colouring, your main objective is to create a layered look that gives a sense of harmony, completeness and personality to a room. Understanding how colours work together and how colours make you and your guests feel, is paramount for creating a successful room.

If you have no idea about what exactly the right colour combination that perfectly fits your personal taste and preferences, you should explore nature. Nature is a good source of colour picks and combinations. Go to nice places and take photos. From your photos, pick some areas that you really like and pick those colour swatches. That’s one smart idea on how to know what colour combinations you really like.

For more on choosing the perfect colours for your interior design, read this article:

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