What Is My Financial Literacy Journey Looking Like?

 (Disclaimer: AB’s blog assumes no responsibility or liability for any errors or omissions in the content of this site. The information contained in this blog is provided on “as is” with no guarantees of completeness, accuracy, usefulness or timeliness. Speak to a qualified financial advisor for financial advise).

What Is Financial Literacy

Part 1.

Financial literacy teaches you how to manage your money, how to invest and reinvest for greater financial freedom. I started learning about financial literacy in year 10 on the mobile app “moneytime”. Unfortunately moneytime does not provide an affiliate program so I don’t earn a pound by writing about them. I just want to share how useful this app has been to me. Moneytime taught me about loans, mortgages, payslips, capital gains, taxes, self employment, stocks, bonds, how to invest in real estate and allot more which I am going to share with you in future posts.


Click on the link if you want to support my journey through college:

https://annaisackah.blogspot.com/p/cosmetics.html?m=1


How to invest in real estate (Buy a house)?

If you want to invest in real estate you need to have an income, 10% of the value of the property you want to buy saved in your account and some payslips to prove to a potential lender that you are earning enough money to repay the loan. The loan you ask a bank for real estate is called a “mortgage”. To be able to ask the banks for a mortgage you need to be over 18, have payslips as proof of your income, have a bank statement and 10% deposit. The bank will calculate your gross earnings per year and lend you 4.5 times your yearly earnings. For example if you earn 18k a year the bank will lend you 18k x 4.5 = 81k

There are some fees you have to pay depending on whether you are a first time buyer or already a homeowner. I’ll explain those in future posts.

You also need to have a good credit score. A good credit score informs the banks that you “service you debts” in time and you’re consistent and reliable with high street lenders.

If all these things are in place the bank will agree to your request and lend you the money you need for the house you want. You will be given a mortgage in principle which you can present to the builder, or owner of the property that shows you have the “money” to buy the property. After negotiations and agreement you can sign a contract that agrees the house will be yours. 

To be continued….


Would you like to support me through college? I am an affiliate marketer for brands. You can click on the link below 👇🏾 to find out which brands I promote :

https://annaisackah.blogspot.com/p/cosmetics.html?m=1


Are you 16+ and would like to make from £50 to £100 a day off social media? Are you a makeup artist, content creator, or influencer and want to make money doing what you love click on the link below 👇🏾 to apply!

Apply Here


Let me know if I missed anything or if you’d like me to explain anything that wasn’t clear. Write your questions or thoughts in the comment section below 👇🏾:


Author: AB



Location: London, UK

Comments

  1. AnonymousSeptember 17, 2024 at 2:46 AM

    Everyone knows this is not Blessing writing these blogs. Because if she was able to write to this standard and do maths she would’ve passed her exams. Exploitative parents who lie on the internet for a few minutes of clout and money. Shame on you as parents. You should’ve supported your daughter since obviously she has been failing for at least 2 years. And for you to come on the internet to blast her just shows how you guys took no action and are now embarrassing her for the whole world to see. Absolutely disgusting.

    ReplyDelete
    Replies
    1. ParentsSeptember 17, 2024 at 9:36 AM

      Just like you have stated, it is likewise hard for us to also believe that she has been writing all of this and still failed in English and Maths. Could she have failed her English and Maths GCSE's due to a severe case of stage freight? Laziness? or under the influence of narcotics? or split personality? We are yet to find out! When her TikTok page gets to 10k and her Youtube get's to 1k subscribers we'll encourage her to make a story time on exactly what happened! But you're right on the money!

      Delete
    2. AnonymousSeptember 17, 2024 at 10:28 AM

      Please stop lying. This is definitely not Blessing writing this. Everybody who has ever read this blog knows it and everyone who knew her knows it to. And stop saying when she reaches 1k she will do a story time. This is exploiting her and you guys should be ashamed of yourselves. So please stop saying she did. We all know it was the evil step mum who is writing these. You guys should honestly look at yourselves as parents and be ashamed of what you have put your daughter through. Shame on you.

      Delete
  2. AnonymousSeptember 21, 2024 at 3:44 AM

    I’m sending this to the police cause ain’t no way

    ReplyDelete
    Replies
    1. ParentsSeptember 21, 2024 at 10:16 AM

      What could possibly possess you to do such a thing?

      Delete
    2. AnonymousSeptember 24, 2024 at 10:37 AM

      What possessed you to exploit poor blessing sick people

      Delete
    3. ParentsSeptember 27, 2024 at 1:01 PM

      This comment has been removed by a blog administrator.

      Delete

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