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Unique Debt-Relief Tricks That You Never Thought Of

Unique Debt-Relief Tricks That You Never Thought Of

You’re in debt but dying to get out of it? Join the club!

Almost everyone who has to pay off the minimum amount on their credit card each month wishes their account wasn’t overdrawn. Unfortunately, dreams don’t come true when you have the national average of £8,000 debt on your back. It’s not as if you can click your fingers and, POOF, it’s gone. Plus, the tried and tested methods are okay yet don’t seem to get you very far. After all, transferring the balance only prolongs the pain.

What you need is unique and effective relief advice, and you find it underneath.

Get Divorced

Wait, what?! Talking to expert divorce solicitors is only an option when you want to split up for good. At least, that’s the conventional way to use a lawyer. Another option is to break up in the eyes of the law to provide more opportunities. Think about trying to buy a house as a couple. If you or your partner has terrible credit, then the amount on your mortgage will be low and you’ll need to find ways to borrow extra. When you’re not married, you can get an individual loan and the best possible rates. It’s drastic but it works.

Start Haggling

Bartering isn’t a secret, yet it is something people in the west don’t do too often. Go to the Middle East and everyone haggles over every penny. Considering every little helps, it’s worth the effort. Start by going to your creditors and asking them for a discount. This might sound cheeky and unrealistic, but they want their money back and will go to great lengths. For instance, they might eliminate the interest and set up a payment plan. Next, you can trade services. Does the flat that you rent need decorating? If so, tell the landlord you’ll do it for one month’s rent and put the money towards your debts.

Unique Debt-Relief Tricks That You Never Thought Of

Join Uber

Not as a customer but as a driver. The best way to get out of debt is to increase your earning potential. The bad news is it’s historically difficult to do due to a lack of time, skills and opportunities. However, Uber is in demand around the country and all you need is a car and a licence to get started. Once you are part of the family, you can choose hours to work during the week to boost your budget. You can make your own schedule so it’s flexible and lucrative at the same time.

Learn Something New

Anyone who doesn’t have the qualifications can get them by going back to school. After university, people traditionally find a job and settle down. You are different because you want to learn something new which is why you need to enrol again. Don’t go down the classical route, though. Instead, find an online course or one at a night university. That way, you can continue your day job while boosting your qualifications and (hopefully) searching for a new job.

Are you thinking outside of the box enough to eliminate your debt?

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Finance

Are You Struggling To Achieve Financial Stability?

Are You Struggling To Achieve Financial Stability?

Are you struggling to achieve financial stability?

Being financially stable requires more than a decent income. That’s why so many people struggle with their money. Perhaps you find yourself in the same boat. But your salary might be better than you realise; it might simply be that you’re squandering it on unnecessary things. Financial stability is all about mastering money management. You can make your funds go much further if you think more carefully about the way in which you choose to spend or save your money. Here’s some advice that’ll help you to achieve financial stability.

Take a look at your monthly expenses.

The first way to achieve financial stability is to take a look at your monthly expenses. So many people spend more than they can afford. That’s the reason for widespread debt, but we’ll talk about that more in the next point. If you want to ensure that you live within your means and actually have some disposable income every month then you need to organise your expenditures more effectively. Make a note of how much money you need to set aside for the essentials in life. Calculate how much of your monthly income remains after those costs have been covered; that’s your excess income. But you shouldn’t aim to blow it all on luxuries. You need to limit yourself. You can set yourself a spending limit by taking out a certain amount of cash at the start of every month and calling that your “spending money”. Even if you spend it all, you’ll still have some disposable income left for your savings. Again, we’ll discuss that later in the article.

Also save money when it comes to your essential expenditures. You shouldn’t cut corners, obviously, but you might be spending more money on things such as food and electricity than is necessary. You might want to save money on your grocery bill by searching the internet for coupons and discount codes before you check out your online shopping basket (you can find coupons and vouchers to use in stores too). This could save you a lot of money on a weekly or a monthly basis. In terms of heftier monthly bills, such as your mortgage repayments, you might want to check out this reliable housing loan calculator to make sure that you’re paying a reasonable amount per month. You need to make sure that you’re paying your bills in the most cost-effective way possible.

Be smart when it comes to debt.

Not all debt is bad. In fact, borrowing money can be good for your financial situation. If you can pay back loans on time then you’ll improve your credit rating, and this will make you more reliable in the eye of potential lenders. In turn, this will make it easier for you to take out loans for big purchases (e.g. houses, cars, etc). And it might help with the size of the loan or the interest rate you face. But borrowing money is still something you should do cautiously.

Only ever borrow what you can afford to pay back, for starters. You might not be able to afford the down deposit on a house, for example, but you have to make sure that you’ll be able to afford the monthly repayments on that house before you take out a loan. Additionally, you need to make sure that you never try to compensate for a costly debt repayment by borrowing more money. That’s how you end up in the debt spiral. If you want to achieve financial stability then you need to make sure you only take out loans you can afford. That’s the crucial thing to remember.

Are You Struggling To Achieve Financial Stability?

Start investing properly.

There are many different ways to invest your money, but you should find one that works for you. Financial stability comes with wealth, and you can increase your wealth by searching for income streams outside of your main salary. You might want to invest in assets that will increase in value over time, for example. It’s all about playing the long game. Maybe you’ll try your hand at the stocks market. You could even invest in Bitcoin. But the property market is an area that attracts many first-time investors. It’s an asset that’s always valuable, even if prices fluctuate constantly. You could make a sizeable ROI by buying and selling houses. Or you could even buy to lease if you want to pull in a regular income on a monthly basis.

There are plenty of ways to get stuck into investing, but the point is that you need to be doing more than sitting on your money. If you want to achieve financial stability then you need to think about the future. For many people, even a sizeable salary isn’t enough to ensure that they have financial savings for their retirement years, their children’s university funds, and all the other big costs they face in life. Starting to invest will ensure that your wealth can grow month after month, regardless of the income you earn from your full-time job.

Are You Struggling To Achieve Financial Stability?

Prepare some savings.

Finally, financial stability depends on savings. You need security for the future. For starters, you need a rainy day fund. Not everything in life can be predicted. You need to be financially prepared for the unexpected. Cars can break down, and natural disasters can damage houses. Not every cost can be included in your monthly budget because you might not be able to foresee everything. But what you can do is prepare an emergency fund so that you’re ready for the unexpected. Set aside a little bit of money on a monthly basis until you’ve got a sizeable fund built up ready for a costly event.

You also need to prepare some savings for something you can predict: your retirement. We’ve touched on this topic throughout the article, but you really need to start thinking about things in the long-term. You need to continuously build up your savings if you want to make sure you’ve got enough for your later years in life. Start saving now, and you’ll be thankful for it in the future.

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Finance

The Ultimate Home Saving Cheat Sheet

The Ultimate Home Saving Cheat Sheet

Money saving tips ideas

The idea of being able to afford your own home during your twenties might seem like a million miles away for many of us, and it is something which can be difficult to think about saving for. Saving for a house  is a nightmare and it can be hard to balance paying for our car, phone and rent as well as having money left to save up. However, it can be done if you follow these simple tips.

Increase your credit score

When you come to apply for a mortgage, the lender will look at your credit history and they will want to see if you have a good enough track record to be trusted with the loan. It means that you need to spend time finding out how to increase credit score quickly to make sure you are accepted for your mortgage immediately. If you have any outstanding debts you need to pay these off before applying.

Stop partying

There are a lot of people in their twenties who are reluctant to save for a house because they want to have a fun life. However, if you want to start making your future you need to balance things out. If you go out every weekend with your friends, you can instead think about going out every two weeks or once a month instead. Reduce the money you spend on alcohol and instead put this money into a savings account to go towards your home.

Have a stay-cation

Rather than spending all of your money on a holiday abroad this year, book a last-minute cottage in the countryside and enjoy a week away from work but spending less money than you would abroad. You will notice that you can enjoy your time without worrying about cash, and any extra money you would have spent abroad can go in the savings fund!

eBay it

If you have clutter and random things in your home, the best thing you can do with it is put it up for sale on eBay for some cash. There’s no point simply throwing things away if you can get some money for it instead! Take some time this weekend to clear out your Home and think about what things you could sell on. Remember, you can also sell your old clothes so don’t forget to clear out your closet too!

Budget for food

Food shopping can be a huge cost for us to deal with each day and this can often be the biggest cost we have throughout the year. If you spend far too much on food, you might want to start thinking about cheaper meals and meals which have less ingredients in them. You can use a book like 5 Ingredient Meals by Jamie Oliver or look online and you should find some budget friendly options to try for your family. You can save any money leftover from your food shop and this will soon accumulate to help you buy a house.

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Finance, Lifestyle

Saving for summer

Saving for summer

Saving for summer

Being a parent and trying to save money can sometimes prove very difficult. Even more so for summer activities and a family summer holiday. I don’t know about you but it often feels as if money evaporates before our eyes. As the saying goes “every little helps”. A few small changes to spending habits can help a great deal and make quite a difference to the savings pot.

Saving doesn’t have to be boring, you can still have fun and save at the same time.

Here are a few saving ideas that may help you save a few pennies for summer:

  • Are you one for going off of lunch dates with friends? Try and cut out on the expensive coffee shops or pub lunches, try and meet for a picnic or even play host and take turns to lunch at each others house. That way you could save a few pounds but your still meeting and having fun.
  • Do you meal plan? Meal planning we find also helps watch the pennies. If meals are planned out in advance for the week it helps with budgeting the funds, it helps to cut out on the impulse buying and also food waste. I am guilty of always impulse buying and buying the “I may need this” item. I am always buying food products and forgetting that they are there and before I know it the food has gone out-of-date. Having a list to stick to and a budget in mind has helped massively. I now try and do online shopping to save the risk of temptation.
  • Voucher codes are always worth looking out for to help keep the costs down. A quick look online could help reduce your bill.
  • Having a sort out of unused items could bring in a few pounds to your saving pot. I think we are all guilty of having a junk area and unused things shoved to the back of the cupboard.  It may be worth having a sort out and advertising the products for sale, someone could grab a bargain and you make a few pounds.
  • Have a closer look at your usage to see what you truly need/use. We recently reduced our TV and internet package as half the channels we didn’t even watch. We are also going more energy-efficient around the home. In the long run the savings here will help keep costs down.
  • Comparison sites is always worth a browse. We never just auto-renew our insurances/contracts we always take a look at the end of every contract. This helps to keep the bills down each month.
  • Walking where possible saves us money and keeps us fit. Being a two car family due to both working and needing a car this means double the car bill. Where possible we leave the car at home and walk. This saves on wear-and-tear on the car, petrol and also parking fees.
  • Grow your own is something we done last year and really enjoyed. Have you ever tried growing your own fruit and veg? this saved us money last year and we hope to do it again this year. Home grown tastes so much better.
  • Try out cheaper brands in store, you never know you may be surprised and even like the cheaper brand. If you can change just a few items to a cheaper brand that could save you a few pounds to add to your savings pot.

These are just a few ideas that may help with saving a few pounds to put towards something for the summer. We are off on a few family holidays over the next few weeks, making a few changes will save on having to apply for a loan. Some may say short term loans can be a good solution but we would rather avoid loans as much as possible.

Do you have any good money-saving ideas?

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Finance

Money under the mattress: finding funds from your home

Money under the mattress: finding funds from your home

Money under the mattress: finding funds from your home

In the modern world, most people have less than perfect finances. With the expense of living, jobs paying less than they used to, and housing being so pricey, it can be hard for people to get enough out of their salary. In this case, life is a challenge and will be very hard for you to manage. But, it doesn’t have to be this way. Instead, using your home, you can find ways to give yourself a good windfall, taking away some of the financial strain you feel. To help you out with this, this post will be going through some of the best ways to make money out of your home.

  • Giving Away A Slice

As the kids start to move out and space starts to open up in your home, the possibility of hosting a lodger becomes a reality. Of course, you won’t want this with young kids, so, for some, it might not work. Without a young child, though, having a young professional live in your home won’t impact your life that much at all. In most cases, lodgers will pay good rent for the place you give them, especially if you’re willing to provide food to them.

For people with young kids, the issues with hosting a lodger will probably be clear. Of course, though, this doesn’t mean that you can’t downsize. By moving to a smaller property, you can rent your current home to someone else. While they live there, the rent you pay will be covered by the rent you receive, leaving a little bit for you. This sort of action has to be taken very carefully, as it can be easy to lose if you’re not careful.

A lot of people will need a little bit of help to carry out action like this. Thankfully, in most cases, an estate agent is all you should need to be able to get started with something like this. They will be able to handle all of the paperwork while making the transaction nice and simple.

  • Using It As Collateral

In some cases, it can be better to keep the space you have and give away some of the equity from your home, instead. One of the best ways to do this is through home owner loans. This sort of option uses your house as a guarantee for the loan, making it easier for the banks to trust you. Along with this, this sort of loan is very easy to apply for, as you don’t have to go through the same vetting as a regular applicant.

Of course, though, in some cases, you will need a lot of money to be able to get on your feet. In this position, it can be worth sacrificing a large part of your home. A remortgage can achieve this for you, as long as you’re not too old to pay back what you owe before you leave work. A lot of people find this method extremely helpful, as it can be done very soon after taking the initial mortgage.

Making a decision like the ones above is never something which can be taken lightly. So, in most cases, it’s a good idea to get some help before you start. Your bank will be a good place to begin, as they will be able to provide you advice for free. For some, though, looking for professional help could be a better way to get the support you need.

  • A Clean Out

When bills are stretching the bank and you’re struggling to make ends meet, even a small boost could be enough to help you out. Though you may be attached to them, the unused items around your home could be plenty to fill your gap. You can start by looking for things of high-value which don’t get used very often. For example, an old music player or other electronic gadget. Then, you can start to look for some ways to sell it.

eBay and other auction websites can be the best to help you if you want to sell quite a few items, as they make it very easy to manage. Alongside this, though, you could also use a social media marketplace, like Facebook’s local sales tools. Using options like this will expand your reach and be much more effective than selling to customers in the flesh.

Hopefully, this post will give you a good idea of what can be done when you’re trying to find new ways to make money from your home. When you have a resource like this, you have a lot of potential behind you. To learn how to use it, you just have to do some research.

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Finance

Buying Our First House

Buying Our First House

Buying Our First House

We have been married now for sixteen years come August, we have three beautiful teenage boys and have always been a working family but the timing for buying our first house has never been right.

We have lived in our housing association three bedroom house since 2003, we exchanged to move here from our two bedroom council flat – we was very lucky.

Since living here we have done so much to the house to improve it and make it more homely, we have put in a new fitted kitchen and bathroom, added a conservatory and even paved both gardens to make it more pet friendly for Buddy our German Shepherd dog.

The timing hasn’t really been right for buying our first house until now – the house is now comfortable to how we want it and now feels like home – a home that we really want to buy. This is the house all three boys have grown up in, these walls hold so many happy memories.

We did look into trying to buy our house a few years ago but due to the (right to buy) law at the time it came back as a big fat NO!

Now due to recent law changes some people are now being given to right to buy their property if they wish so we recently looked into buying our house again and was totally shocked when they said YES, yes we will be happy to send you out the application pack needed.

Things are now starting to look up for us, we still have a long way to go but we are now a step closer than we was last year and we are keeping positive. We now have an application pack being sent out to us and all the relevant paperwork out to apply to be homeowners……Eeek exciting times!

Looking back to the very first time that we phoned to ask if we had the right to buy our property, in a way we are glad they said no because Ian was then working for a family run business and the boss never paid regular, we went from week to week not knowing when the next payday was or even worst still we never knew how much for. This wouldn’t look good on a mortgage application now would it?

It was a financial struggle and yes bills mounted up but he kept the job because it was a job and they are hard to find nowadays aren’t they?

Things are now different, I have been in a secured job now for a good few years and Ian has since changed jobs, he is now working for a very stable company that has been going for years. This company pays Ian on a set date each month without fail, now this has got to look much better for when applying for a mortgage hasn’t it?

With us both being in a steady job that we’ve been in for a few years now, bills have always been paid on time, we don’t have any rent arrears and we have means to show we can afford a mortgage and have means to pay on time each month.

So looking back – no the timing would have been completely wrong for us to apply but we have worked hard to get to where we are now the main thing we done was financially planned to get to where we are now, that is to be stable enough to be able to apply comfortably for buying our first house.

Your credit report holds all the cards as to whether you will be allowed the credit needed, so having a good credit rating is very important as it is used by lenders to determine how much of a risk you are to loan too. Do you check your credit score? we have been keeping a close eye on ours over the past few years. Credit score checks are used by most lenders, this can be for loans, mortgages, car finance, credit cards and so on.

Ways you can financially help yourself.

Financially plan if you wish to buy something.

Try and avoid getting into bad unessersary debt if possible.

Keep on top of all your bills. Paying on time shows you’re a good trustworthy person to lend to.

Keep an eye on your credit report and try to fix any problems that may show up.

Register on the electoral roll.

Try your best to avoid getting loans.

Keep a check on your outgoing’s, it is so easy to overspend.

Don’t abuse any credit that is available to you.

Are you looking to renew your car? take a look at Stoneacre Car Finance they offer great options ranging from interest free to low payments, also a no deposit car finance offer.

Buying our first home

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