Financial Utopia – Help with credit cards, debt savings and loans.

Like most people I find balancing the household finances at the end of the month a struggle. With three children all under eight and me not in full time work we need to watch every penny and I have become adept at making the money last and would be described by the popular press as a “Thrifty Mum”. I am probably not alone when I’m not only able to list all of my direct debits but also able to say the amounts I pay each week for each of them and the day they come out of our bank account. The control this gives me allows me to avoid worrying too much as I couldn’t cope with the thought of not being able to do so and the crisis I would be in would threaten everything I and my husband have worked together for. I have become very canny at looking out for offers and religiously cut vouchers out of the newspaper and keep an eye out for when the deals are on at the local Tesco supermarket.

One of the most helpful ways of saving money I’ve come across in recent years is to use the comparison websites to make sure that you aren’t paying a penny more than you have to on your household bills. I will regularly log on and do a life insurance comparison or a check to see if our buildings and contents insurance can be bought cheaper than we have it already. Changing electricity and gas suppliers is always worth considering as they tend to put up prices for people who don’t switch providers like the banks and building societies do for those who don’t move their money to the best savings accounts. I believe that we can save about one month’s salary a year by switching or threatening to switch suppliers. Sometime purely mentioning the fact that you are about to change provider to your existing provider will mean that they will drop their price by a huge margin. Its well worth trying, the alternative is too awful to contemplate.

Source: http://lifeinsurancecomparison.uk.com/blog/2012/01/26/always-take-time-make-online-life-insurance-comparison/

With the subject of IR35 feeling like a grey area for most contractors, it is recommended that any contractors unsure of their IR35 status seek expert advice from either an accountant or most of the time recruiters will also be able to advise you on this topic, however it depends how uncertain you feel about your IR35 status.

To avoid your contract and working practices falling inside IR35 legislation, you will need to clearly show that the way you are working is that of a self employed contractor. HM Revenue and Customs clearly define what in their eyes classes as ‘passing IR35’; visit their website for more information, but as ever it is worth speaking to a specialist contractor accountant who will be able to simplify things for you and discuss this topic further.

Some contractor accountants also offer free verbal IR35 contract reviews which is quite handy. You can also ask for a full written formal review with a report outlining areas of weakness; however nobody can guarantee or insure you against IR35. You can buy IR35 insurance which will cover the accountancy and legal costs to defend your case but nobody guarantee you’ll be inside as it’s based on what HMRC decide.

You can fall inside IR35 legislations and still work as a contractor through your own Limited company there are still tax gains to be had working this way, and you will only pay tax on roughly 95% if your tax able income rather than the full 100%. Again talking to a specialist accountant means they will be able to advise you on your current contracting situation and advise you on the best way to contract which will maximise your take home pay.

IR35 is in essence quite simple but just having a cleverly written contract isn’t enough, you need to also make sure your working practices reflect your contract.

The financial recession has left, yet, unemployment rates are still up, and most people are still drowning in debt. Credit cards would be of great help, since these people would need money with a pledge to pay it all off on a future date. However, the problem with credit cards starts with the need for a background check on one’s previous financial records and the soaring high interest rates that are imposed by banks. With credit cards 0 interest rates, low credit scores and interest rates no more.

Mostly, these 0 apr credit card offers available are for a short time only, most of which are introductory offers to entice new customers. These offers are available either online or at physical establishments. Some financial experts suggest that to get the most out of all of these offers, one can jump from one offer to another before a current offer expires and requires a rate of interest. Though this would sound really beneficial to everybody, it may not reflect well on any credit history, taking it as a sign of inconsistency of credit card programs probably due to the lack of financial capability to sustain it. Another reason that people might choose a zero-interest card is to manage their debt consolidation plans. This would work better if you can choose a credit card company that offers good no-interest credit cards.

The best way one can get the most out of these zero-interest credit cards is to select one that has the most benefits and longer no-interest period. In order to find these offers, you would need to shop more around online where there are listings of these credit card offerings. As you shop, you can have several options for a credit card, and more options mean a more decisive and well thought-out choice. (continue reading…)