Financial Security Archives - Page 85 of 92

Writing a successful budget

Aug 15 2015Apr 22 2011 by Fin Engr

The key to writing a successful budget lies in the detail as a budget relies on making sure that all income and expenditure items are accurately assessed and included so as to ensure that nothing is missed. Perhaps the most straightforward place to start is by listing all sources of income, be it is salary, … Read more

Choosing the Right Debt Solution

Aug 15 2015Apr 21 2011 by Fin Engr

People in debt are often confused about the right way forward – the right way to work on repaying those debts and getting their finances well and truly under control again.

It’s true that there can be quite a few ways of doing this, but choosing the right debt solution for you needn’t be as complicated as you might think.

Why? First of all, because you have access to expert advice – all kinds of organisations offer advice over the phone or face-to-face, and you’ll find all kinds of guides online. And secondly, because quite a few of those debt solutions wouldn’t even be an option for you.

If you’ve never really looked into the subject before, debt consolidation loans may be the only actual debt solution you’ve even heard of. But do you know how they work? Do you know if a debt consolidation loan would be right for you? Do you know how the interest issue would work out?

Watch Your Savings

Aug 15 2015Apr 15 2011 by Fin Engr

With so many savings accounts available it’s often difficult to know which one to choose to get the best return on your investment. And as they all offer varying degrees of flexibility, as well as varying degrees of interest, it’s important to know what to look out for when choosing where to invest your money. … Read more

More Than a Score

Aug 15 2015Mar 27 2011 by Fin Engr

If you are looking for a new credit card, maybe to use for a balance transfer or to simply spread the cost of a large purchase, then it’s worth bearing in mind that lenders look at other factors alongside your credit score. So, even if you consider yourself to have a good credit rating, you may find that your application is refused.

For example, many lenders will look at your spending habits alongside your financial history and they can get this information by examining the ways in which you have utilized credit in the past. So if you currently have a balance on your credit card but you do not still use that card for new purchases then this can potentially work against your application. This is bad news for those wishing to transfer a balance to another card with a better interest rate.

Spending habits can also affect you if you are looking to take out a new card to spread the cost of an expensive item, particularly if you are already in possession of one or more credit cards. For example, you may currently possess a card that has a zero balance but you have not been using it because of it’s high interest rate and so you are looking for a card with a lower rate of interest. This seems like a perfectly reasonable way to manage your finances but it can work against you in two ways. Lenders may look at your spending habits and refuse you on the grounds that you do not regularly utilize your available credit lines, else they may refuse you on the grounds that you already have a reasonable amount of credit available to you.