11 Ways to Reduce Personal Debt

Climbing out of debt can be a long and tedious process but there are a variety of things you can do cut down on the amount of debt you have. Losing debt is about the battle between income versus expense. The more income you have coming in and the less you have going out the more you have to contribute to paying off your debt. Here are eleven ways you can reduce your debt:

1. Create a budget

A budget is your one stop shop for controlling your personal finances. It will allow you to see where you are spending too much and where you can stand to save.

2. Review Your Luxury Services

If you are faced with a large cable bill at the end of each month you should consider downgrading. How many of those channels do you actually watch anyway? You may even consider cancelling your television service completely and making the switch entirely to streaming services to watch movies and TV shows if that would be cheaper.

3. Review Your Insurances

If you think your insurance payments might be the issue, you should shop around for better prices. If you bring down your payments, that more money in your pocket.

4. Home Phones

If you have a mobile phone and you live in an area with adequate coverage you should consider cancelling your land line service.

5.  Food

Food costs really can add up if you’re not careful. Try to limit the amount of times every month that you eat in restaurants and try to prepare your own meals more often. Don’t be afraid to hunt for sales and generic items.

6. Want vs. Need

Analyse your expenses in terms of wants and needs. Once you fulfil all your requirements look at your expenses that are luxury or entertainment items. You should cut some of them out if you want to eliminate your personal debt. Continue reading

Make High Electricity Prices A Thing Of The Past With This Handy Guide

If you are looking to get the best possible electricity prices for your household, there are a number of things you can do to help you on your way.

In this blog I discuss a number of considerations to have in mind, from simply doing your bit round the house, to shopping around for the best possible deal.

Shop Around And Switch Things Up

Many people think it is overly complicated, but actually switching providers regularly is one of the more simple options when it comes to cutting electricity prices.

Look out for the best deal on the market when your current deal is coming to an end. Specifically, you want to time it so you can reap any bonuses such as annual discounts, and avoid any early leaver penalties. Therefore, knowing the ins and outs of your current contract is essential, so do a bit of research there first of all, before you even start to shop around for other deals.

Still Getting A Paper Bill? – Stop Now!

Another simple option is to change the way you pay, this can often help cut down electricity prices even if it is only by a few pounds – especially if you currently pay by cash or cheque.

Go paperless and also look online to see what special online only deals are available. Continue reading

Invest is Best!

Money, money, money. A lot of us bemoan what a strange and awful thing it is that we allow our lives to be dominated by these weird shiny chunks of metal and sheets of paper – it seems at times absurd that the stuff actually equates to anything of tangible worth. As a matter of fact, more often than not we’re right to value the actual material possessions money is used to buy more highly than the money itself. In an economy seemingly trapped in a spiral of inflation, the value of that money you’re keeping under the bed for a rainy day is becoming less and less by the day. We’d urge you to consider investing it in something, which is instead becoming more valuable all the time.

It’s difficult to decide how exactly we should invest our hard earned cash to ensure not necessarily the best, but crucially the most secure return on our investments. Having said that, there are a few ways to invest which tend to yield fruitful results for most speculators. Firstly, make sure your finances are healthy – if you’re in the red you need to look into measures such as a debt consolidation loan before you attempt to build up some capital and scout out investment opportunities from a solid footing. Now, here are a few fields in which to make those definitive first investments. Continue reading

How can the Internet be used to Save Money?

The internet has revolutionised the way we live and indeed the way we work, there’s no escaping the fact that without it, we’d struggle to get by. We network, communicate, shop, compare and get information online on a daily basis, but one thing we are using the internet to do more and more is saving money.

With the UKs economy experiencing some rocky times of late, everyone is looking for ways to save money, below we’ve documented ways in which you could save yourself hundreds simply by using the World Wide Web:

1.     Shopping

When people think of online shopping, things that immediately spring to mind are; online auctions such as eBay and large e-commerce websites like Amazon. In order to save large amounts of money you need to dig a little deeper, here are some other handy online money saving stores:

Quidco – This is a cashback website whereby you search for items on the website, Quidco then refer you to a retailer, the retailer then pays Quidco a commission on the item you have just bought, which is then paid straight into your bank account. There are a number of other website like this however Quidco is arguably the largest of its kind. Continue reading

I’m In Debt… I Give Up! (You Can Escape Overwhelming Debt)

When the going gets tough, the tough get going. Millions of Americans are finding the burden of debt overwhelming. CNN Money Reports that according to the American Bankruptcy Institute, filing for bankruptcy was either a forced or chosen strategy used by 1.46 million individuals and 36,000 businesses in 2011. 2012 projections are very similar. Throughout the EU, the data is consistent.  Personal insolvency is a global epidemic.

At the same time, real property foreclosures are at record highs in the world’s most established economies. The causes of this suffering are numerous, including a worldwide employment crisis, unrealistic purchasing habits and careless money management. As a result, persons find that when the unexpected event occurs, we are not financially equipped to deal with our obligations. In simple terms, our liabilities outweigh our income.

And, when debt outweighs income, the situation either requires a cash infusion or outstanding cash management. A combination of the two is best. Continue reading

Creative Credit Course Corrections

Credit, six letters that can change your ability to do what you want when you want to do it. Most of the problems that people experience with their credit is caused by a simple lack of understanding of what it is and how it is best used. As a result of this ignorance, many people misuse their credit and end up in a pit of despair and debt that destroys the quality of their life.

The following five tips will help you to avoid common credit problems and to dig your way out of the debt pit.


Tip #1 – Be Aware of Your Debt

A lot of people get into trouble with credit products because they do not realize how much debt they are racking up. To avoid this problem create a list or spreadsheet that clearly identifies each credit product you have and what its overall balance is and what the monthly payment for each of these products is. Post this somewhere you will see it every day. Continue reading

Deposit Protection Schemes and Alternative Dispute Resolution

After the launch of legislation in 2007, landlords have become used to protecting their tenants’ deposits as a matter of course. Landlords have the choice of three main schemes based on custodial and insurance models. The former requires the landlord to physically pay the deposit sum into a third party bank account; the latter requires insurance to be obtained for the amount of the deposit.

Whichever option is taken, the deposit protection scheme has brought added peace of mind to tenants that their deposit is in safe hands throughout the tenancy. For landlords, it has gone some way to reducing the negative stereotype, and ultimately made the process far clearer for all involved. Continue reading

10 Easy Ways to Save Money That You’ve Probably Never Heard Of

If you’ve spent any amount of time reading money saving tips then you’ve probably come across the same cookie-cutter advice time and time again. Fortunately — even if you think you’ve “heard it all ” — there are a few seldom-used tactics that you can use today to stretch your dollar to the limit.

Reuse Fresh Herbs
Did you know that the fresh herbs that you probably use everyday — including green onions and coriander — can easily be put back to work? Just take the roots of the plant and soak it in water for a few weeks. If the plant was in good shape when you started you should be able to reuse the plant again in 2-3 weeks. And you can rinse and repeat this strategy as many times as you’d like.

Vicks Vapor Rub=Cheap Insect Repellant
In summer months it’s common to spend $20 or more per month on pricey insect repellant to keep annoying mosquitoes and ticks away.  However, you can use a tiny bit of Vicks (or the generic equivalent) to do the exact same thing! And it’s much cheaper (and more versatile) than repellant. Continue reading

Live a Little More Cheaply Every Day and Have More Money:

Saving money doesn’t have to be a painful experience, it is all about retraining the way you look at money and getting ourselves out of the bad spending habits and into new ones. It is something that we generally think of as being difficult to do, a challenge that we only undertake when we really have no other choice. But if we got into good spending habits sooner we wouldn’t find ourselves having to knuckle down when times get hard. Trying to get into good habits in one fell swoop is difficult for anyone to do, which is why it is much better to change you spending habits in smaller steps so that it doesn’t come as such a shock to the system.

Saving Money on Fuel

There is no doubt about it, fuel is becoming more expensive every month. The fuel we put into our cars and the fuel we use to heat our houses makes a large dent in out monthly budgets. But there are ways to cut down on the amount of our money we spend in this area. Continue reading

How To Improve Your Family Finances

Maintaining family finance is a bit hard but not terrible. You can improve finances by taking critical decisions and here are few ways that can be used.

Monthly budget

Regular budgeting makes you stable in your financial career. This aids you to know where your each penny is going and also won’t tend you to take redundant credits which make you stressful. If you are confused and not able to make a budget, take the help of budget calculators that are available on the web.

Negotiate the excitements

Don’t get attracted to delights as it makes you to take more debts. Try to shop within the plan which you made and stick to it. Make a note of all your outgoings and prioritise them. Give more importance to needs than luxuries. Continue reading