Category Archives: Money

Optimizing your Car Insurance with Simple Tips

Car insurance is certainly one of those necessary evils in life. You want to be adequately covered, but you do not want to have to pay an arm and a leg every month for coverage. By spending a little time and researching the different options though you can have the best of both worlds. The savings you can reap by doing a little research can be very significant so it is well worth your time to do the work up front.

The first thing you need to determine before shopping for car insurance is just how much coverage you really need. There is a minimum requirement depending on what state you reside it, but additionally, there is an amount of coverage they you need in order to sleep at night.

Depending on how risk averse you are, you may want a little or a lot of insurance beyond the minimum and this will vary from person to person. Generally speaking though, you will want to have enough insurance to cover your assets. When making decisions such as these there are alot of factors that you will want to consider, including your own driving history.

The next step is to compare the coverage you need to what you currently have and what you are spending for that coverage. There will be differences in yearly and monthly rates so be sure to factor that in as well depending on how you will make your payments. Your driving record will also affect your new rates so be sure to factor in any recent tickets or accidents.

The beauty of shopping for car insurance is that you have many options at your fingertips and car insurance companies must fight in order to win your business. This advantage however is negligible if you are ignorant to your many options. It is for this reason that it is important to shop around and perform a thorough car insurance compare.

By following these tips you will be well on your way to starting the process of obtaining the best car insurance for your needs. Insurance is not the most exciting payment that you will make every month but the peace of mind you receive from being covered at an affordable rate is well worth the trouble.

Budgeting for a Life After Your Wedding

Your wedding is an incredibly expensive experience. Although it is an experience that you will remember for the rest of your life, it is also an experience that will unsettle you financially, meaning that you’re incredibly likely to be short of money as soon as you’ve come back from your honeymoon. Due to this, you simply must budget for life after the big day well before it has even happened. Here are three ways that you can do just that:

1) List, List, List:

It’s true what they say, and you cannot plan enough for your wedding day; especially as it is one of the most expensive days in your life. Because it is one of (if not the most) memorable days of your life, a great deal of planning goes into the day itself, while little thought is put into what happens when you return from your honeymoon. More often than not, a couple’s quest for the perfect day pushes them to the edge of their financial stability and, as a direct result; they often struggle to budget properly for life after their wedding.

There’s only one way that you can ensure that you don’t stretch your budget too far, and that’s to list, list and list. Create a wedding budget and stick to it closely. Once your budget is set, ensure that you’ve factored the affordability of the wedding into your forward planning for the 3 months after. Create lists and go through them forensically. This way, you can go into your wedding with piece of mind.

2) Have a Debt Repayment Strategy

With the cost of weddings being so high, most people take out a loan to cover the costs and, because of this, once the wedding is done and dusted, people are left with astronomical levels of debt. Unless your parents are incredibly rich then it is likely that taking out a loan will become your only remaining option. There’s no problem with doing this, and if it makes your day extra special then you should definitely consider it. You must, however, take every option seriously and have a debt repayment strategy ready to help you repay it ASAP.

3) Consider Innovative Repayment Methods

If you’re struggling with repayment, then you should consider innovative strategies. Recently, we’ve seen a rise in the used wedding dress market, with people looking to recoup some of their losses from the big day. This, however, isn’t to everyone’s tastes and it is likely that you’ll want to keep your precious mementos. If you’re looking for innovative repayment methods then cast the net far and wide. Investments are quite a good option, and people generally choose this option because all you really need is an online trading account. Just be wary that, if you do choose an innovative repayment option, there are risks involved and you’ll have to commit to it. The same is applicable if you choose to trade stocks and shares to make a profit.

Non-Profits That Will Help You with Your Finances

Below are some examples of organisations that can help low income earners with their finances or money issues in the UK. Whilst this list is specific to the UK it does provide readers with examples of financial services that should be available in their countries as well.

If you are having a difficult time with your finances or managing money, or you feel like you are in a perpetual circle of debt, there are financial experts available to help you at no fee to you. There are numerous non-profit organisations located throughout the UK that are available to help you get your finances back on track. Below is a look at some leading non-profits that can help you with your finances.

Citizen Advice

Citizen Advice offers people who live in the UK with free and confidential financial advice. They offer face-to-face meetings or home visits, as well as, services by phone or online. They can help you deal with your debt and create a plan to dissolve it, teach your money management skills, help with employment related issues, or offer expert financial advice on a variety of issues, such as loans, and repayment plans.

Debt Advice Foundation

This non-profit is registered as a national financial support services charity. They offer confidential and independent advice to help you with any of your financial problems. They work to help develop a financial strategy that is right for your specific situation. They provide free advice on all types of loans, credit and debt issues. In addition, they can help you develop a free debt management plan or an Individual Voluntary Arrangement (IVA) plan.

My Money Steps

My Money Steps is a division of the National Debtline and is designed to offer free independent and confidential financial services to people throughout England, Scotland and Wales. They offer their services either over the phone, online, or through email. They teach money management and budgeting skills, as well as, offer assistance with rental arrears, overdue mortgages, debt relief orders and bankruptcy. They can also help you design a plan to get rid of all your debt.

Shelter

Shelter is a nationwide organisation, whose main goal is to prevent homelessness. They offer free and confidential services to all residents who are concerned about losing their current housing. They work directly with landlords and mortgage companies to help devise a plan that will allow you to remain in your home. They also teach budgeting and money management skills to help you get your finances back in track, so you do not lose housing in the future. They offer face-to-face meetings, as well as, online and phone services.

Step Change Debt Charity

Step Change Debt Charity can offer free and anonymous financial advice either by phone or online. This may help you get answers to some of your primary financial problems. In addition, this organisation can help people who are dealing with a variety of different financial issues, such as mortgage problems, repossessions, debt relief, employment issues, overdue utility bills, and more. This organisation can also provide free debt management plans, Individual Voluntary Arrangements (IVA), Debt Relief Orders, and bankruptcy.

All of these non-profit organisations offer free and unbiased services, which means they are looking out only for your best interests. They will gladly talk to your creditors, landlord, and utility companies on your behalf to help improve the likelihood of getting the result your want. They are likely to ask you a wide array of questions about your current financial situation, so make sure you have all of your information readily available before contacting them. The more details you can offer, the better able these organisations will be able to help you deal with your current financial issues and help you get the results you need.