Money Advice

Store cards, credit cards and loans how to borrow money effectively.

Finance Is The New Feminism
According to a study by LifeSearch, the number of women in the UK buying life insurance in the UK has doubled over the last six years. As women are increasingly closing the gender related pay gap and even .....
You don’t have to have the lifestyle demands of Paris Hilton to need extra money these days. According to Credit Action, the total UK personal debt was 1,122 billion, a growth of about 10.5% over the previous year and in the UK and each adult in the UK has an average of 4.1 credit cards in their wallet.

In their most recent report, Credit Action also recorded 2.3 million personal loan agreements in the second quarter of 2005. Interesting, the national money education charity discovered a gap between the interest rates advertised for loans and the actual interest rates paid by the borrowers.

So, with such volumes of debt, what is the best way forward in managing your money?

1) Prioritise your spending

Decide what you need to buy and when you need it. If it’s not a necessity, put it to the bottom of the list. With Christmas approaching, it’s important that you have an awareness of your budget. Make a list of things you need to buy – including Christmas presents. Once you have a list, shop around for the cheapest deal – including some internet research. Thirty minutes of surfing the internet could result in significant savings, which will either reduce outstanding debt or contribute to savings.

The Internet And Customer Care
Consumers take customer care into their own hands

It was reported in ‘Marketing’ magazine this month, that Britain is becoming a “disaffected nation”, with each adult apparently making an average of .....
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You can see that our author has a lot of ideas and information to share about store cards. When you finish reading have a look through our site to find more articles about store cards. You may also be interested in reading about borrowing money.

How Much Is That House
With the recent release from the UK's biggest mortgage lender, the Halifax, of its latest house price report for May 2005, showing that prices fell by 0.6% last month, and prices falling just 0.1% since the start of the year, the bank said that the .....

2) Prioritise your borrowing

If you borrow money, when do you think you’d be able to pay it back? For example, for smaller amounts of money that could be paid within a shorter period of time – a credit card might be the most flexible way of borrowing money. Alternatively, if you need to borrow a larger sum of money and wish to make the repayments over a longer period of time – then a personal loan could be more effective. Do some homework online, sites such as moneynet and moneyfacts provide online financial product guides and price comparison information.

3) Prioritise your requirements
Kippers Or Red Herrings?
Recent news has made much of parents stretching their finances to cover costs for their twenty and thirty something children. Debts and high property prices have forced many offspring to return home, tail between legs, under the attractive new marketing term of “kippers”: .....

In addition to thinking about how much money you need to borrow and how you want to repay it, you may wish to look at other ways in which your financial products could work for you. Examples include cash-back, reward points, charity donations etc.

4) Never, ever, take out a store card
UK Consumer Debt
Another year ended, and another round of UK debt statistics. CreditAction has just announced the latest summing up of the personal debt situation in the UK.

Their figures show that the end of 2005 has seen the total level .....

Whatever the discount the store offers you on the day, remember, it won’t be as a gesture of goodwill. Nearly all store cards carry a vastly inflated rate of interest and they rely on you not being able to pay off the balance in full straight away. There is a strong chance that what you ultimately end up paying – is far greater than the discount on the actual day.

5) Do you really need it?

Ethical Approach To Personal Finance
At a time when the entire world’s attention is focused on the problems of world debt, with the Live 8 (http://www.live8live.com/ ) concerts, the G8 summit in Scotland, the Make Poverty History Campaign ( .....
As Christmas approaches, it’s easy to spend a little extra on clothes, food and drink and presents. However, if you make a list of what you need and stick to it, you’re likely to save yourself more money this way than if you went out impulse shopping.




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