Saving a little bit every day

 

Saving a little bit every day

Saving a little bit every day

 

Whether you’re saving up for a holiday, a new car or just a rainy day, putting a bit of money aside on a regular basis is the best way to achieve your goals without putting a strain on your finances.

Though you may think that you don’t have any cash to spare, by taking a quick look at the fascinating infographic created by MYJAR, we can quite clearly see where the country’s money is going and where savings can be made.

For example, if you live in London, there’s a good chance you could save a significant amount every month by cutting down on your takeaways. On average residents in the capital spend a whopping £221.63 on takeaways, while their neighbours in nearby Chelmsford splash out just £43.19 a month.

However, as southerners spend around £200 less on their annual getaway than those in the north, you may well be saving already when it comes to your holidays.

Once you’ve put the work in and saved up, one way to avoid depleting your savings is to take out a short-term loan from MYJAR anytime your pay packet won’t stretch far enough.

That way you can take the pressure off your finances and keep your hard earned nest egg intact.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

Credit cards – how they can work for your finances

Credit Card

Credit Card

Many people feel a little apprehensive when faced with the word ‘credit card’ regarding today’s difficult financial climate. The reality of the situation is that the cost of living in the UK has risen to extremely high levels and many people have found that using a credit card can actually relieve a high amount of financial burden and allow them to make repayments at extremely low rates.

If you are thinking of getting a credit card then it is important that you consider the different forms of credit cards in the UK. Look over the key points below to ensure your finances can cease to be troublesome and understand how these financial contracts actually work.

Think in the long term

When choosing a credit card, regardless of the brand, rates or interest, it is essential that you think in the long term. Rather than just using it to buy the odd non-essential item that may end up hampering your finances, you should work it into your current monthly and annual budgets.

Doing this will not only give you a much clearer picture of your overall finances but will allow you to identify unnecessary spending in any areas. This means you can cut costs where necessary.

Find a low APR

A low APR is essential for your credit card as it will ensure that your payments stay low throughout the year if you pay back the full amount borrowed at the end of each month. Many credit cards are available with extremely competitive APR’s and interest rates and choosing one wisely is a prudent move.

For an online credit card which offers an outstanding APR, shop around and compare the latest deals. Remember that not all credit cards will be suitable for your situation so always consider how they will fit with your lifestyle when evaluating the APR which they offer.

Make sure you don’t default

Defaulting on a credit card payment can be very bad news. Not only will it affect your credit rating overall but if you have not chosen a low rate card it could burden you with several unwanted charges such as a late payment charge or increased interest rates, which, if unchecked could continue to snowball.

Consolidate irregular payments

One thing credit cards can be very good at is consolidating any irregular payments which you might have into one lump sum thus allowing you to see your monthly finances a lot more clearly and account for your entire budget. This is a very popular use for credit cards and something which they are very effective in doing and will also enable you to plan effectively.

Buy quality on weakness

Debt Free

Happy To Be Debt Free

The best time to buy stocks is on a generalised market sell-off. We all know this, but it can be a difficult thing to do, psychologically, when everyone else is in panic mode.

It’s always unlikely, though, that you’ll hit the absolute low point, so it’s always best to try and buy quality on weakness.

In other words, try to follow Warren Buffet’s advice: “Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”

And if you don’t buy good quality shares when they’re cheap in a generalised panic; when do you? By following such a strategy, you will come out ahead over time. How much cash you hold when the market rallies is a tough call, though, and depends on your personal circumstances – how much you earn, your age, how much cash you need to take out etc.

Deciding which companies are good quality is, of course, the other hard part. First off, try to look out for essential suppliers of goods and services with rock-solid balance sheets. Any company which keeps coming back to the market for more cash is metaphorically calling the debt helpline.

Look for solid book value, low or negative gearing and a sustained history of profitability – and have the courage to buy on the market’s big dips. Going against the market’s tide in this way is hard, but it’s necessary for successful long term value investing. It’s perfectly possible to buy defensive stalwarts on generalised market weakness as recent history has demonstrated. Ask yourself – can we really go on without big supermarket groups, food suppliers, or utilities, for example? When the valuations of even these companies are getting trashed collectively, it’s time to start picking out those with the strongest balance sheets and lowest P/Es.

Importance of Health Savings Accounts

Health Savings Accounts

Health Savings Accounts

Many banks are now offering people to save money in their respective accounts so that they can always use this money to make good investments. People who have no idea about saving money for future have been seen to live in a misery as saving money is now like earning money. Since money is important in all aspects of life one needs to know that health savings accounts have also been introduced which can benefit people greatly and which can help people use the money in time of need. These accounts have been introduced by many large corporations for the health and safety of their employees.

Since many people can face physical injury during any time of the year and since this kind of health care is always needed by employees and families, this account helps a person deposit money from which some amount of tax would be deducted and at the same time, the expenses that would be incurred on medical bills would be deducted to. But one will see that with the help of health savings accounts, the medical bills would fall greatly and a person would never have to worry about having no finance at the time of immediate need.

Since this account is generally offered by companies and corporations, many people would never even think about touching the funds that would keep on accumulating in this account. Sometimes what employees do is that they save the funds for greater future needs and sometimes if a person can pay the expenses out of his/her own pocket, there would be a great sum of money left with the person to take out at the time of retirement. These funds are actually cushion funds that can benefit a person greatly during employment phase and after employment phase.

This account is highly important as it can be opened up by people who retire early from their jobs. But for such people, they need to buy high deductable health insurance policy. This means that you can always use the money in the account and at the same time you can also use the money in from your pocket for medical expenses. What a lot of people do even with health savings accounts holders is that they keep on paying money from their pockets and reimburse the money later in the years to come. This way they have a stream of finds to come into their account when they need.

People who do not know the importance of health savings account can read the above information and gather some knowledge about health savings accounts. These accounts can benefit all those people who have families and children and even if they do not have a large family, the funds in this account can be used greatly for future once the person leaves the company. These accounts require a person to keep good medical records at all times so that when a person needs to reimburse the records can help the person receive the funds that were previously spent on health.

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Finding Reliable Bankruptcy Attorney – Your Course of Actions

Bankruptcy Attorney

Reliable Bankruptcy Attorney

Bankruptcy is usually the last chance of someone to get rid of the debts and to clutch out from the creditors.  It is that section of the federal laws that enables a person that is in deep amount of debts to get a new start by reducing the debts that are needed to be paid by the person as well as save your time by cutting the duration short in which the payment has o be made.

Bankruptcy attorneys are the one that are in charge and are able to handle all the procedure that are involved in the bankruptcy laws thus they provide you the legal methods by which you can easily wipe out your debts by selling them/ liquidating them or by giving their charges to the creditors or resolve them by the help of the approval of the court notifications for the reorganization plans or any other kind f plan that involves the repaying of the debts in time.  Bankruptcy attorneys and lawyers help you and explain you the primary and the most basic purposes of bankruptcy laws and guide you through their function so that you are relieved and can provide your finances a fresh start.

You can ask other attorneys for their help and guidance so you can look for the attorney that suits you the best but Try to keep this in mind that bankruptcy is a vast field and various other fields are also associated with it as well. The attorney you chose should be very skilled in his filed and has a command over his concerns. Therefore if any of your friend or relative knows a good lawyer than they can surely help you find an attorney that you are looking for. These days internet is also a reliable method for finding any kind f information that you want. Visit websites that has a complete list of all the attorneys and lawyers dealing with bankruptcy. This may help you to find an attorney that is best suited to you and that can work solely to protect your rights.  Often certain bar associations may also help you to find a bankruptcy attorney and provide you with all the updates regarding those attorneys so you can easily reach them and contact them. After finding the lawyer of your choice, take their initial consultation and determine the prospect of your case thus building up a sturdy financial future for yourself.