27 October 2011

Consolidation Loans Explained!

Put simply, a consolidation loan is a loan that allows you to pay off your debts. This means that instead of making multiple payments to multiple companies, your debts are consolidated into one lower payment each month for a longer period of time. Although you will still owe the same amount of money in the long run, these loans can really take the pressure off.

A consolidation loan doesn’t just ease the pressure of mounting debts, but it can even have a payment protection scheme is some cases. This means that if you are ill, in an accident or lose your job, you are covered for the payments, taking all the worry away, especially if you have dependents.

You should always research all the options available to you before committing to a loan. Different companies may offer you different deals as often the loan is tailored to your personal circumstances. It’s best to weigh up your options; having to pay big bills every month puts pressure on you, but these loans do have higher interest rates, so you will be in debt for longer.

17 October 2011

How Could a Payday Loan Help You?

The global economy is slowly worsening; as the European debt crisis sluggishly goes on and economic data continues to disappoint, it has become increasingly difficult to get approval for loans from banks. Loans from traditional institutions like banks are also mostly long term and for large amounts. So what if you only need to borrow a relatively small amount of money, but don’t know where to get it from? This is where payday loans have come onto the market.

You can only borrow from £100 to £1000, usually for a couple of weeks to a month. This means that these short-term loans are great for tiding you over until your next payday and getting you out of a tight financial corner. Whether you need money for an unexpected expense of any kind, need some spending money for holiday or need to take you car to the garage, a payday loan could be the answer.

You have to be over 18 years old, have a bank account, be a UK citizen and you may need to provide proof of employment. Credit checks are very rarely carried out, so if you have had debt problems in the past, you don’t have to worry about not being approved. The application forms are mostly online, and as there are no background checks, you often will get the money in your account within a matter of hours.

Although the lack of credit checks has its advantages, it also means that these loans are relatively high risk to the lender, meaning that interest is often high. If you budget properly to pay back the loan as soon as possible, this does not have to be a problem. Do however make sure you are fully aware of how much you will be expected to pay back before you agree to anything. Shop around and find the best payday out there for you!

13 October 2011

Spending Too Much on Food?

It can often feel like you’re spending all your money on food. Prices seem to be going up constantly, from meat, fruit and vegetables to coffee and restaurants; it’s easy to spend a bomb just feeding you and your family. The trick with saving money on food is the same as saving money on anything - find a cheaper option and stop spending! Being aware of how much money you are spending is the first step. You won’t save anything without trying and making some cut backs.

The best step you can take towards saving is to cook at home from basic ingredients. By choosing meals that have inexpensive ingredients, you can really stretch out your budget. It is often healthier to cook meals yourself as you can more easily regulate fat, calorie and salt content. Avoid restaurants and take-aways when you can, the mark up is more than you might think!

Another great way to save is to take lunch into your place of work from home, or buy basic ingredients in a supermarket. The prices of sandwich shops, cafes and restaurants are hugely elevated, so why not make your own?

The bigger the supermarket, the lower the prices. Perhaps you should consider switching supermarket to a less expensive one if you really want to save money. Smaller convenience stores always have higher prices, so forward planning will save you money so you don’t have to pop around the corner to pick up extra items.

If you like your coffee, and buy one from a cafe on the way to work, this can really mount up. Why not make your coffee at home or at work? It might seem like a hassle but if you’re spending £3 a day on coffee, that amounts to £60 every month, so it’s really worth it.

07 October 2011

Start Saving on Petrol Today!

With the price of petrol going through the roof, it’s no wonder that people across the UK are cutting down on the amount they use. Using your car is often the most convenient option, but it’s time to ask yourself is it the most efficient? There are various things you can do to cut down on the amount of money you spend on petrol, with the added bonus of being kind to the environment.

1. Walk, cycle or take public transport on short journeys. A cold engine uses more fuel, making shorter distances less efficient.

2. Get rid of excess weight in your vehicle. A full trunk will require more petrol to shift.

3. Drive slower! It’s obvious, but the faster you drive, the more petrol you use.

4. Keep your engine well maintained, it will be more efficient and use less fuel.

5. Share car journeys with friends, family and neighbours when you can.