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LIFE CHANGES: Self-help Advice Centre

The property ladder

Still living at home with mum and dad? First-time buyer? Stuck in property ladder rut? Feel the need for "relocation, relocation" to somewhere different?

Not many of us are premiership footballers or celebrities earning the megabucks that affords us a luxury villa in several cities across the world. So should we just sit back and bemoan our bad fortune? Certainly not.

However, it cannot be ignored that the turbulent UK economic environment is probably the main sticking point for most property hunters. As such, there are no quick-fix solutions on offer here, just some alternative strategies to consider.

If you are looking to get onto the property ladder for the first time and feel that you are being priced out of the market, reconsider your position. Think of ways of increasing your deposit - after all, loans from parents to help their offspring leave the nest are on the increase. What about sharing with like-minded others? Joint ownership mortgages are another good option. Look at areas that are currently a bit run-down. If plenty of people start to buy in these areas, then they may become the desired postcode for others - and help push your investment up in value.

If you are looking to make it to the next rung on the ladder, look realistically at what you are trying to achieve. If it seems out of reach, re-evaluate your needs against your desires. Do you really need an additional bathroom? How about extending your existing property to get that extra bedroom? Making the right decision on a home improvement can increase the value of the property and make it more saleable. Think about renovation and look for bigger properties that are undervalued because they need some updating. Make sure that you include any building costs in your budget.

Or are you looking for something completely different? If so, why not take the opportunity to look further afield for a property investment? This could be in a relatively undiscovered corner of the UK, away from your current location, or even abroad. The Top 5 countries that are ripe for investment with large returns include Romania, Poland, Portugal, The Baltic States and Sweden*. Ensure that you are well briefed on property-buying local laws, employ an independent solicitor and insist that all paperwork is translated into English.

Tip: Property can be the largest investment people make with money - so spend wisely

*http://www.channel4.com/4homes/on-tv/a-place-in-the-sun/

Pennies make pounds

Credit crunch biting? Robbing Peter to pay Paul? Outgoings exceeding incomings?

Ever taken the time to sit down and write out a list of your income and expenditure? For those that do it can be quite an eye-opener, for so often the latter equates to more than the former!

If you find yourself as part of the above scenario, it is time to reassess your finances and make a concerted effort to get back on track. So where to start?

First, chop up all your credit cards. Revert back to the system used by the post-war generation - if you cannot afford to buy it with cash, then you cannot afford to buy it at all!

If you are having trouble paying outstanding debts, speak to a financial advisor. Get a copy of your credit rating report. Make sure that all the entries on it relate to you - it's amazing how many unscrupulous people will use a "clean address" to gain some form of financial credit and then leave the debt behind.

Once you clear debt payments, open up a savings account or invest in an ISA. If you consider investing in the stock market, make sure you are aware of the risks involved. For your long term future, pay into a company or private pension fund. Do not rely on the state pension to keep you in your old age - it pays the bare minimum to OAPs now and it might not even exist in years to come.

Think about it - do you really need that latest piece of technology, which is going to take your credit card over the limit? Is it necessary to always have to "keep up with the Jones's"?

It's time to step off the debt funfair ride. Be the individual that you are. Stop following the crowd and expensive trends. Look for the positive difference in your bank balance. Look for the positive affects in your life.

Tip: If you look after the pennies, the pounds will look after themselves

Money-saving tips - 10 ways to keep spending under control

Taking time out

Feel stressed after work? Not enough "me" time? Something missing from your life?

Taking up a hobby or leisure pursuit can be good on three levels, by providing physical and/or mental exercise and social support.

So choose an active pursuit if you want to maintain physical health benefits, like walking, tennis or going to the gym.

To keep an active mind: play cards, do crosswords, visit galleries and museums. Research shows that staying mentally active can help the fight against Alzheimer's disease and dementia in later life.

Select a hobby or leisure activity that suits your personality. Do you prefer your own company, or that of others? Are you self-motivated or do you need other like-minded people to "chivvy you along"? 

Whatever you choose to do, make sure that you schedule a regular slot and stick to it. Do not let stressful life actions, like work, push a hobby or leisure activity from your timetable.

Tip: It is important to look after the well-being of number one - you!

Broaden your horizons

Like to meet new people? Visit exotic places? Experience nouvelle or novel cuisine?

Nowadays it is the norm for students to take a gap year and travel the world, experiencing other cultures before returning home to settle down. While for most people regular holidays to sunnier climes are no longer a luxury, but a given. Some even choose to move abroad, particularly on retirement.

Experiencing other cultures provides travellers with a sense of unity with their foreign neighbours. No longer are we afraid to venture across miles of sea to 'strange lands'. Instead we embrace the traditions of others and encompass them in our own lifestyles, strengthening the ties of harmony and peace.

Of course, you do not need to commit to travelling halfway across the world, or even make the initial trip by plane. Why not start by visiting your nearest neighbours? Trek the Scottish Highlands in autumn when the heather is in full bloom, the Welsh hills in summer to capture the views, or head off to discover the hidden parts of the Emerald Isle at any time of year - there will be a welcome for all. Use alternative transport methods, like the train - or take a coach trip and meet new friends as well. Who knows, once you get the travel bug that long-haul flight might not seem so daunting after all!

Tip: Broadening your horizons = broadening your mind