By cashking in Life on November 20 2008
Does money bring happiness? Well, I think we only have to look at the rich and famous to answer that question. Michael Jackson isn’t living what you’d call a normal life, and Madonna is discovering that you can’t buy everything you want. These are extreme examples, however, since most of us will never approach a fraction of their vast fortunes.
So what can money bring you? Well, for a start, a sense of security. Many people are currently worried about their jobs, whether they can afford their mortgage if it goes up, and if their house is going to be worth less than they paid for it. Unfortunately, most people don’t have secure jobs or a guaranteed income, and so cannot achieve that sense of security. Those people who have a good pension and have paid for their house are in a fortunate position, as they need not worry about paying the rent or mortgage, and can relax in the knowledge that their house is theirs completely.
Money also gives you freedom to make choices. If you hate your job, find it stressful, and have enough money in the bank, you can leave and look for another in the knowledge that you can pay your bills while searching for something more suitable. If you want to take time away from working and travel for several months, or do voluntary work in an African orphanage, you can pack your bags and head for the airport. Want to change your lifestyle completely? You can move from the city to the country (or vice versa), emigrate to another country, or retrain for the job that you’ve always wanted to do.
However, money in itself cannot make you happy. It can make you relaxed, and offer you the opportunity to achieve ambitions, but you need to be secure and happy in yourself, and have goals that you are willing to work at. Lounging around on a beach might be fun for two weeks, because it represents a break from your normal routine. After a month or two, though, you would probably be as bored as if you were in your office doing paperwork. Start a beach bar, however, and keep busy running it, and the beach life will be much more enjoyable, because you are not looking for something to fill the empty time.
Living a more simple life has much to recommend it. It is very easy if you have a large income to become trapped in living up to the image of a well-off person, having to buy the ‘right’ car, furnish an expensive home, and wear the right clothes. When money is not the focus of your life, you can concentrate on more important things. The fact is, however, that we all need money in order to live. My conclusion would be that, while money does not bring automatic happiness, it does offer a degree of freedom, and allow you more options.
By cashking in Debt Advice, debt on October 23 2008
With the food and petrol prices constantly rising in the face of the global financial crisis, cutting unnecessary spending and saving money is of ever increasing importance. By cutting out some luxuries from our lives we can avoid debt and save money.
When shopping, keep a look out for special offers, sometimes you can even pick up top branded products cheaply if they are on offer. Otherwise, try to buy supermarkets own brand products and stay away from brand names. Often, the quality of the product is the same for a cheaper price. Buying things in multipacks can also help to save money in the long run.
Shop around. Try shopping at a different supermarket and see if you’re shopping works out cheaper. This could be especially helpful if this supermarket is closer to home. Look out for petrol vouchers with your shopping and find out which supermarket offers the best loyalty card system.
Create a budget for the week, month or even a year. Sit down and work out all your incomes and expenditures, this way you know how much you have to spend on yourself over a given period. If you have cash left over try and save it. This could be by having one less drink on a night out or not having a weekly takeaway, over the year this will add up to a big saving. Some financial advisers will help you budget free of charge so it’s worth arranging a meeting with one to see what advice they can offer you on saving money.
Around the house this winter, layer up rather than turning the heating up! Heating bills are ever increasing due to rising gas and oil prices so by wearing extra clothing you can save money on your heating bill. The same can be said for your water bill, take showers rather than baths and avoid using the dishwasher where possible. As for electricity, turn off lights when they are not being used and try to avoid leaving electrical appliances on standby.
The cost of petrol has risen massively and even a short journey now costs a substantial amount in petrol costs. Avoid driving when you can, walk or take a bike. Not only will this save you money but it’s great for your fitness! You may also want to find out how to drive more efficiently, i.e how to use less petrol. Guides as to how to do this can be found online.
By cashking in Debt Advice on June 25 2008
Living under the weight of debt is hard.So first we need to start savings in various ways. Living under the weight of debt when concealing it from your partner is hellish, and that applies whether you are hiding all the debt from them or merely reducing it to a size which will make their consumption of it more palatable.
If you recognise yourself in this, be warned. It can break families and relationships into pieces that may never get picked up again. Face up to the fact that although you may be trying to protect your partner/relationship/family by keeping the severity of the situation away from them, your deception will cause a stress of its own.
The short term relief of denial can very quickly bite you in the behind. This will happen when your situation compounds to the point when there’s no escaping it, because you’re maxed out on credit everywhere you turn and you face homelessness. This level of debt can’t be conveniently swept under the carpet; as the adage goes: “If you continually sweep things under the carpet, eventually you’ll get a crick in your neck from stooping to avoid the ceiling.” There’s also the possibility that your partner will blame you for not informing them of how bad the situation had become, or of not managing the money better.
But this is supposed to be a partnership and it the debt needs to be faced with your eyes wide open. Communication is the key, whether that’s with your partner or the bank, so stop covering it up and look it in the face. It’s the only way to resolve it. There are loads of solutons out there to help. Debt Management, Consolidation Loans, IVA, and hopefully not, but you never know, Bankrupty. The early you deal with it the less drastic the solution.
By cashking in Debt Advice on June 17 2008
I have lied to my partner about the level of debt I had. Although it wasn’t a lot, I had money on credit cards that I wasn’t paying off. I could meet the minimum repayments, and a little bit more, but at that rate the card was going to take years to be paid off.
My partner knew I had some debt, but assumed it was in the £100s, rather than the £1000s. At the time we were talking about moving in together, and he was adamant that he wouldn’t move anyone who had more than a few hundred pounds of debt, excluding a mortgage. Finding out exactly how much I owed was a huge shock for him – and it did stop us moving in because he was worried about being expected to help pay it off, or me not having enough money to pay the bills.
Fortunately the problem has been sorted now – albeit at a cost. I remortgaged to a better deal last summer, and included a little extra to pay off the credit cards for good. Now, I’m paying the same amount each month for my mortgage, and have all my credit cards clear. They are just used and paid off every month. Now that I have a clean slate, we’re looking at moving in together again.
By cashking in Debt Advice on June 10 2008
Debt has had a stigma of shame attached to it for many years but more and more people are finding themselves in some form of debt at one time or another.
This can be very stressful for some people so telling the people who need to know is vital. This includes your credit lenders if you are finding yourself struggling to meet the minimum repayments or if your debts are spiralling out of control.
Most credit companies will look at your debts more favourably if you approach them before you’re in a position where they are chasing you for payments and may be able to arrange a payment plan with you or help with rates of interest. There are many free debt help companies available to help you with budgeting and they can contact your credit lenders on your behalf if you’re not feeling brave enough!
Finally tell your husband/wife/partner or parents as they may be able to offer some help even if it’s just the fact that you won’t be carrying the burden by yourself which can make the problem seem a lot worse and start affecting your personal life as well as your financial one which is the last thing you want. Remember there is always help available so the sooner you start asking for it the better.
By cashking in Debt Advice on May 23 2008
Get debt advice now. Anyone who has serious debts that are unsecured should really get some professional help and advice before risking a bankruptcy. An IVA can be a good solution. Ideally this should be from an organisation such as the Citizen’s Advice Bureau or the Debt Helpline, which offer impartial advice on managing finances and what to do. They do not charge any fees.
It is best to avoid companies that are not well known and who may contact people via phone, email or post, offering to reduce debts to a more manageable level by taking on another loan. Some people who are desperate may turn to these types of companies when they are most vulnerable.
Legitimate debt help will assist those in debt to make a budget of essential outgoings and look at where any savings can be made, as well as advising on cutting back on spending and making loan and credit card payments at a higher amount than the minimum to avoid interest mounting up.
By cashking in Debt Advice, Debt Consolidation on May 6 2008
It is so easy to get into debt, but not as easy to get out of debt. The first thing you need to do is set a realistic household budget.
List all things you have to spend money on i.e. gas, electric, mortgage, then list all the things you want to spend money on. The goal is to separate between ‘Need’ and ‘Want’ for example you ‘need’ to eat or you ‘want’ that new CD. The idea is to look at your outgoings and see where you can make cut backs, as in setting yourself a shopping budget for food.
Some examples of how to save money on groceries, household bills:
1. Ask your supermarket what time they mark down their products, and purchase these when they are cheaper.
2. Grow your own vegetables and fruit - a lot cheaper than buying.
3. Use price comparison sites to check you are not paying too much for your gas, electric or mortgage.
4. Check with your energy supplier to see if you have an economy setting, do your washing etc in the evening as it is cheaper.
5. Take a shower instead of a bath, it’s cheaper.
6. Do you really need the heating on? Can you just put on another layer of clothing?
7. Hang clothes to dry on a rainy day indoors over the bath or use a clothes airer, it’s cheaper than the tumble dryer or radiators.
8. Use natural products for cleaning its cheaper and better for your health!! i.e. vinegar for cleaning windows.
Overall just think about ways to do things on the cheap, research and you will save money and get out of debt. Think pennies make pounds and pounds make rich men.
By moneyhungry in Uncategorized on May 1 2008
I think this actual depends on the type of student loan you have for example, there are: Tuition fee loans, maintenance loans, grants, and bursaries.
Many of these loans are joined together for instance you will get part tuition loan and past maintenance loan; in other words your tuition fee is paid or part paid and you may also be eligible for a loan to cover living expenses. These loans however do have to be paid back, but usually not until you actually start work, and then they are paid back in instalments. The down side of this is it could take a very long time to pay back the loan and you do have to pay interest on them.
Grants and bursaries on the other hand tend to be given to a select few occupations, such as teachers and nurses, these do not have to be paid back, I do believe this is slightly unfair as in many ways it does push people into these professions.
It is also important to remember you have to be in full time education to apply for any of the above loans or grants, unfortunately.
By cashking in Uncategorized on April 29 2008
Over the last twenty years, a degree has changed from being something available to the most intelligent, into being a low-grade qualification available to almost all. One result of this has been the devaluing of the degree’s status, whilst another has been the inability of the economy to provide free tuition to those studying as undergraduates. Making debts a routine and savings almost impossible.
The introduction of the student loan has meant that the intellectual elite of the country are brought to see debt as a necessary or even desirable correlate of progress. Small wonder that servicing the average household debt now accounts for 10% of household income.
Add to this a situation where student loans are incompetently administered, many students find it difficult to get a first post-graduation job, and education is no longer available to all due to inability to pay. If the government had meant to make education more inaccessible, they could not have done better!
By doughmaster in Student Loans on April 28 2008
Student loans are the cheapest loan youll ever get. The interest charged is the rate of inflation which means, while there is interest on them, its so low that what you pay back is the same VALUE (in terms of what you could buy with the money on that particular day) as when you took it out. No other loan is like this.
Thats why Id say take one even if you dont need it. If you dont want to use it you can put the money in a high interest savings account and end up making more in interest than the interest youre accruing on the loan! A lot of people dont know this but having a student loan wont affect your credit score and therefore your ability to get a mortgage. Its also paid straight out of your salary only once youre earning over the threshold, so if you arent earning enough you dont need to pay, and because it comes out of your pay before you even get it you wont notice the repayments anyway.
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