Personal loans – A great help in times of need

Low-Cost Personal Loans

Low-Cost Personal Loans

All of us want the good things that life can provide in terms of a good house, car and other luxuries. However, not many of us can afford all this out of the money we earn as salary and if we had to wait till we had sufficient money, then that day may probably never come. That is because growing inflation and other expenses are constantly working against us and irrespective of the savings we can make, we will never be able to afford some of the necessities that are needed.

This is where the concept of loans comes into play. Individuals can now take the help of loans from financial institutions to be repaid over time paying interest rates that are different depending on the purpose for which they are taken. These loans can be secured or unsecured. The secured loans are those where there is a backing of security or collateral and the unsecured loans are where there is no such collateral. It is not difficult therefore to understand that secured loans are offered at a lower interest rate whereas unsecured loans

Personal loans fall under the category of unsecured loans and are usually taken to renovate homes, settle credit card debt, consolidating other debts into one and so on. When taking this kind of a loan it is important to find out which institution is able to offer you the lowest interest rates. This will require you to talk to your friends, relatives for any recommendations and you must also visit websites of such lenders.

Taking a personal loan from a recognized financial lender has some advantages. They may be in a position to offer you competitive interest rates due to the economies of scale they operate in. Moreover, they would also be able to give you commitments on holding those rates. This means that you need not bother about varying monthly repayment amounts and that is a big relief when it comes to planning your budget each month.

Such lenders also do not levy any setting charges. You are free to decide on the starting date and you can also make an application for a payment break at the beginning of the loan itself. They also come out with special offers from time to time and that is when you should take the opportunity of entering into an arrangement with them.

Forensic Accounting – What Are The Qualifications?

The responsibilities of a forensic accountant encompass investigation, resolution of dispute and providing support for litigation. Investigation means finding out whether indeed a particular fraud has occurred and what evidences point to it. The resolution of dispute entails coming out with workable solutions so that risk is minimized and there are no chances of something similar happening in future. Litigation support refers to the proper presentation of evidence gathered so that the court can take a decision based on objectivity.

Forensic Accountant

Forensic Accountant

The career of forensic accounting is a well paying one and if you possess good accounting as well auditing skills, you should be able to aspire for a profitable career in this field. However, let us look at the other qualifications that are required.

a) The first one is a basic degree in accounting and this can be gained from a university or through an online learning course.
b) You then have to clear the Public Accountant hurdle to get the qualification of a Certified Public Accountant.
c) In addition to academics, you also need to get yourself enrolled in some law enforcement firm so that you get adequate exposure to real life cases and are able to appreciate the happenings in the real world.
d) Finally, you need to clear the CFA or Certified Forensic Accountant exam so that you have the edge over others and your value in the forensic accounting domain increases.

In addition to the qualifications, a forensic accountant needs to be very analytical and should be able to think quickly on his feet. Ability to look at records in detail and identify any loopholes in the manner financial details are prepared within the company are also aspects of the job that are important.

Forensic accounting is a very exciting career and as compared to normal accounting offers more opportunities for a person to grow rapidly in the organization. However, there is a need to constantly upgrade qualifications and keep abreast of the developments in this field through regular interaction with other professionals.

There are some limitations too. The job may involve you to be present at court hearings as an expert witness and this may present some amount of danger to your life since the culprits would not want you to expose them. The other disadvantage is that the company may not want you to expose any mistake that they have committed due to their image getting sullied and you could be targeted for that as well.

Quick tips to save Money

Saving money can be one thing that people find very difficult but in reality, if you follow some very simple steps it can be a lot easier. When you start looking at saving money, there are no strict rules for everyone to follow, it all depends on your own circumstances and what works best for you.

Money Saving

Money Saving

  • Budgeting – You should always budget your money, budgeting is great way to make sure you don’t overspend from month to month. You should always know what your income and expenditure will be for a given month; this helps you to ensure the necessities are paid for. Planning ahead this way ensures that you will never struggle to pay off your bills when it comes to the end of the month.
  • Never spend more than you earn – This is vital and it basically links to my post about budgeting. If you spend more than you earn then you are basically building debt. To make sure you never spend more than you earn, you should set up a budget whenever you receive money, for example whenever you receive your salary.
  • Set yourself some financial goals – Having something to aim towards financially can really help you get where you want to be. If in this case your aim is to save money, then you can set yourself some aims that are measurable and realistic. An example of this could be that you want to save £20 every week for two months; you can set yourself a long term target and split it up into manageable objectives.
  • Compare your bills – Using price comparison sites, you can search for prices from various providers of regular household bills, from utilities to your mobile phones to see if you can save money. Price comparison sites do the hard work and they compare a lot of the main providers so you can see how much you can save in an easy to read list.
  • Shop smart – Try and shop to a specific list when you go food shopping, by doing this you can try and avoid the big impulse purchases that bump up your shopping list, it’s a good way to try and stick to the necessities.
  • Bike to work – If your place of work isn’t far away from your home, then you could take up biking to work, it can save you of petrol money, and it also helps you to do your bit for the environment.
  • Savings Account – Using a savings account is a great way to help save you some extra cash. You can set up an automatic payment from your normal bank account, it doesn’t have to be a lot of money and it will steadily rise over time, leaving you with a nice surprise when you come to check your account.

I hope these money saving tips will help you on your way to achieving what you want from your finances.

Bio: This article was written by Andreas Nicolaides, a finance author for MoneySupermarket.com.

How you can save Money through budgeting

A budget can be one of the most effective financial tools if used correctly; however, setting up a budget can be a long, daunting process. Budgeting can be difficult as it involves being very thorough and honest while you write down all the details of your personal expenditure. On the flip side of the coin, if you persist and you come out of the other side with an effective budget, it can help you easily monitor your finances and save you money.

Budget and Saving

Budget and Saving

Target
When you look at setting up a budget you should first set yourself an overall aim of what you want to achieve. Your aim should be measurable so that you can check how close you are to hitting your target. It should also be realistic, setting yourself an unrealistic target can be incredibly demoralising. An example of a saving money target could be that you wish to save £200 every month for a year.

Set up
Once you have your aim, then its time to start setting up your budget. To do this you need to note down all of your expenditure next to your income, from my personal experience, I would advise doing this on a monthly basis at the beginning of the month. Try to remember to include everything, which comes back to my point earlier about being thorough. Once you have noted down your expenditure and your monthly income, then you can take your expenditure away from your income, which will leave you with what I like to call flexible cash.

Cut Expenditure
Once you have your budget in place the best way to improve your level of flexible cash (and as a result save money) is of course to cut down on your expenditure. You can do this using a number of methods, but the first thing you need to do is look at the expenditure on your budget to see if there’s anything that stands out. Can you see any payments that look like they’re far too high? If so, then they are your first point of action. If not then here’s a few money saving tips for things that should be included in your budget:

  • Food shopping – When you go out for your weekly or daily food shop, before you go out make a list of what you need and try to stick to the list! By doing this you can try and cut out on the expensive impulse purchases that just bump up your bill
  • Credit Cards – If you use your credit cards regularly you can check to see if you are paying more interest than you should be on them. If you are, then why not transfer your credit card balances using a balance transfer credit card. Balance transfer credit cards normally come with a typical interest free period, normally 12 months, so by doing this, you can save yourself a lot of money in interest payments
  • Your bills – Have you checked recently to see if you can save money on your household bills? For many of us our answer is no, but it should be yes. Using price comparison websites on a regular basis you can check to see if you are paying too much money for various necessities, this could include your internet, phone and your utility bills. Using price comparison sites can save you time and money because they do the hard work so you don’t have to.
  • Car fuel – Do you spend too much on petrol for your car? If you do then you could look at alternatives to help save you money. One alternative could be biking to work, many people do it and it saves them money and helps the environment at the same time. You could also use public transport wherever possible to help save you some money.

Flexible Cash
With your level of flexible cash, whether it is large or small, it’s up to you what you do with it. I tend to split the cash up into three categories, emergency funds, savings and flexi.  You could split it up evenly and place a third in each, but depending on your circumstances you can alter this accordingly. For example if your main aim is to save, then you can place half of the amount in a cash ISA savings account, and split up the remaining half into emergency and flexi, it’s totally up to you.

Try and stick to your budget to the best of your ability. You will have times when something pops up that isn’t expected, e.g. something goes wrong with your car, and this is where your emergency fund can come into action.

Bio: This article was written by Andreas Nicolaides, a money and savings author.

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