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

Always take the time to make an online life insurance comparison

The WebClinic — Fri, 27 Jan 2012 05:23:11 +0000

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/

Can I bend the rules of IR35?

Admin POK — Tue, 24 Jan 2012 14:34:41 +0000

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.

Primer on Getting Credit Cards 0 Interest Offers

Admin JHS — Tue, 10 Jan 2012 11:42:17 +0000

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.

However, as it is in any type of credit card, you still need to pay close attention to the money you invest on it. Read the fine print for any hidden fees or charges that maybe asked of you upon credit card enrolment. Also, you should check on details like how would the bill be served and their payment scheme. Try to look for good 0 apr credit card offers that have better payment schemes. Would a bi-monthly or a quarterly per annum payment schedule be alright for your current financial condition? Check these considerations. Bear in mind that if you successfully get through these credit card offers, it would show a significant improvement in your credit records.

Handling credit cards if you have been borrowing for a long time now would be nothing much different even if you borrow a no-interest credit card, but it would still be tricky nevertheless. On the other hand, if it is your first time to get a credit card, or you have had a pretty bad credit record, you will need to consult a financial expert who knows the maths in computing these kinds of credit card problems and issues, for you will also encounter several payment details like APR, and so on.

How to Immediately Get Approved with an Instant Online Credit Card Application

Admin JHS — Mon, 19 Dec 2011 11:54:30 +0000

Internet users all around the globe will find advertisements of instant online credit card application; some might even receive offers in their mailbox that will direct them to different finance lending outlets. Typically before, people would get approved to receive credit cards after waiting for weeks and weeks, however today the application process is a lot quicker than it was earlier. In comparison to the standard credit card applications, it merely takes a few seconds for people to get approval with an instant online credit card application.

As long as people have a flawless credit history, they will conveniently be able to avail the finest instant approval credit card deals. Nonetheless, for people who are not even aware of how good their credit rating is, it is much better for them to get a look at their credit before applying for a credit card.

On the other hand, people have nothing to be concerned about if they are actually aware that they have a good credit history. When people are thinking of going for an instant online credit card application, apart from getting their credit report, reviewing it check if there are no errors in it, is also important. If people feel that there is any problem in their credit report that can be conveniently solved, then they should fix it all and then apply for a credit card online.

One people have determined that they are ready and so is their credit history record, then it is the right time that they can put in an instant online credit card application. People must keep in mind that they need to fill in their basic information in the application, and they should also not forget reading the terms and conditions of the before submitting the application. This way people will be able to determine if they are going for the right credit card offer and whether or not there are any limitations or hidden charges.

Since the online credit report is necessarily checked by banks and credit card companies when they are providing credit cards, therefore applicants must also not forget to provide their social security number. This makes it convenient for them to check the credit worthiness of applicants who have applied for an instant online credit card application. Additionally people must also make sure that they for a reputable online credit card company and that the website is secure since when they an online credit card application they are sending personal information over the internet.

Finally all that remains for people once they have submitted their online credit card application is to wait merely for a few seconds till they will find about whether they have been approved or declined. In most cases people receive an instant approval and even receive their credit card in a short amount of time. Finally people can ideally start shopping with their newly obtained credit card. Thus if people do not want to waste too much time and receive a credit card as quick as possible they should apply for an instant online credit card application.

Instant Decision Balance Transfer Credit Cards

Admin JHS — Fri, 16 Dec 2011 13:13:14 +0000

When a person is trying to rebuild their credit, it can be an arduous process. The funny thing is, a credit score for someone can be altered very quickly for the worse, while fixing it can take years. Everyone is cautioned to watch and maintain their credit, as it can impact major future purchases, something that most people usually don’t think about till it’s too late. While getting approved or declined for a credit card can now be an instant decision on the basis of the credit card company, knowing how to use your new credit card can play a vital role in rebuilding your credit.

If you do get approved for an instant decision balance transfer credit cards, it might be worthwhile to consider and think about using your new credit card as a balance transfer card. Check your new interest rate you are assigned with your new card, and compare it to your old current credit card. If your new card you are able to get has the lower interest rate, it might make more sense to turn your new card into an instant decision balance transfer credit card to help you reduce the amount of payments you make over the lifetime of the debt.

If a person is finding they are having trouble with a current credit card due to the high interest rate on it, it is not a bad idea to start shopping around for a new credit card. This new credit card though shouldn’t be though of as one to spend more money on, but one to secure a lower interest rate and help pay off the debt quicker. What you’ll end up doing is locking in the new interest rate on the credit card, and once that is achieved you would move a majority of the current balance you have on your credit card to the new card. So while this new card will incur interest on your debt, it will do at a slower rate. Then you can pay off the old card that has higher interest on it as quickly as possible, then move on to the newer card. Both of these should be done without missing payments as that can penalize the current debt and not help you in anyway.

Shifting balances around isn’t a recommend thing to do in terms of juggling interest rates. It’s not good or wise to your credit score to have several credit cards open, all with balance on them. Balance transfer is recommended when you have a variable interest rate that is seeming to continuously rise. The instant decision balance transfer credit card is for those trying to maintain or repair their credit in a reasonable fashion.

I saved a small fortune on life insurance on the Life Assurance Cover website

The WebClinic — Wed, 14 Dec 2011 14:39:21 +0000

I had always expected to become a teacher as both my mother and father had been teachers. It didn’t help by the fact that I had never really contemplated doing anything else and upon leaving school with the appropriate A levels for a teacher degree, I duly started at Teacher Training College. Three years later I was applying for teaching jobs in my home town, as I had never really contemplated working elsewhere. I married my child hood sweetheart and started a family with two lovely children and everything was wonderful. Wonderful apart from the fact that I really didn’t enjoy my work, I loved the teaching side of things, but all the form filling and unnecessary rubbish we had to do to support the vagaries of whatever the government of the day had decided that we should do to teach our children in a slightly better way than we had done the year before. This carried on for years and I grew to despise the job and tried to lose myself at weekends in whatever DIY project I had at the time. I loved the way that no one was there to tell me that I had to do it another way or that I had to fill in a form for someone so that they could produce a piece of analysis that would inevitably be used to tell me that I wasn’t as good as someone else, somewhere, and because of this I would to produce another action plan saying how I would improve, and so on and so on.

Anyway, one morning I decided that I would chuck it all in and become a full time do it yourself man and six years later I haven’t looked back. I have am independent in mind and body, I love my work and I’m probably a better person for it. I have had to become financially literate and now know my income protection policy from my permanent health insurance and my VAT rates from my National Insurance thanks to life assurance cover.

Source: http://lifeassurancecover.uk.com/blog/2011/12/14/i-saved-small-fortune-life-insurance-life-assurance-cover-website/

Please never buy life assurance from your own bank, instead I saved more than £125 each year using a site called www.LifeAssuranceCover.uk.com

The WebClinic — Wed, 07 Dec 2011 14:47:11 +0000

Sitting in an airport lounge waiting for a flight connection is probably the dullest way of spending time I know, apart from waiting for the AA which is also up there in my list of things I would do less than go to have root canal work done by an inexperienced dentist. The process of waiting for a plane however can be transformed by WiFi which if you are lucky enough to be able to access from one of the comfy seats rather than the wooden seats in the Starbucks franchise is all the better almost making the whole process bearable. With two hours to kill I sat down and decided to work though as many emails I could, so reducing the time I would have to spend doing this at home. On this occasion this was all going pretty well with the delete button being pressed at an ever increasing rate until I came across an email from my travel insurance provider letting me know that the cost of my renewal would be about ten pounds more than I had paid the previous year, although the increase was affordable I thought that it would be worth spending a couple of minutes getting an alternative quote as, lets face it, what else did I have to do for a few minutes? As it turned out I could save myself ten pounds on the annual premium I was currently paying. Once you’ve saved a few pounds you get a taste for it. On another table along the top of the web page I could make a comparison using a website referred to as life assurance cover, find critical illness cover and other financial products. Saving money or rather stopping yourself wasting any more money is a tremendously empowering feeling and rather addictive.

Source: http://www.lifeassurancecover.uk.com/blog/2011/12/07/please-never-buy-life-assurance-your-own-bank-instead-i-saved-more-125-each-year-using-site-called-wwwlifeassurancecoverukcom/

Please don’t purchase mortgage protection from the bank, instead, I saved more than £455 every year utilising a site called www.mortgageprotectionquotes.org

The WebClinic — Fri, 02 Dec 2011 09:25:29 +0000

Sitting in an airport lounge waiting for a flight connection is probably the dullest way of spending time I know, apart from waiting for the AA which is also up there in my list of things I would do less than go to have root canal work done by an inexperienced dentist. The process of waiting for a plane however can be transformed by WiFi which if you are lucky enough to be able to access from one of the comfy seats rather than the wooden seats in the Starbucks franchise is all the better almost making the whole process bearable. With two hours to kill I sat down and decided to work though as many emails I could, so reducing the time I would have to spend doing this at home. On this occasion this was all going pretty well with the delete button being pressed at an ever increasing rate until I came across an email from my travel insurance provider letting me know that the cost of my renewal would be about ten pounds more than I had paid the previous year, although the increase was affordable I thought that it would be worth spending a couple of minutes getting an alternative quote as, lets face it, what else did I have to do for a few minutes? As it turned out I could save myself ten pounds on the annual premium I was currently paying. Once you’ve saved a few pounds you get a taste for it. On another table along the top of the web page I could make a comparison using a website referred to as mortgage protection quotes, find critical illness cover and other financial products. Saving money or rather stopping yourself wasting any more money is a tremendously empowering feeling and rather addictive.

Source: http://www.mortgageprotectionquotes.org/blog/2011/12/02/please-dont-purchase-mortgage-protection-bank-instead-i-saved-more-455-every-year-utilising-site-called-wwwmortgageprotectionquotesorg/

Always make sure you get a life insurance comparison before buying

The WebClinic — Fri, 18 Nov 2011 05:56:43 +0000

I have used the same insurance adviser ever since I had my first motorcycle and I needed to arrange cover. They always seemed to work very hard trying to get me the most competitive premiums and the process seemed to take an hour or so and I would always walk away with a hand written cover note and a feeling that it was very expensive but I had the best deal I could get. Looking back on those days, the trust I had in the staff in that office was based on nothing other than blind faith combined with the hope that if I thought it sounded absurdly expensive I might try the insurance broker along the road. Although having already taken an hour or more to get the insurance sorted out, the last thing I would want to do is to go through the entire process again and waste my entire day off. These days of course, like virtually everyone, I no longer use an insurance broker.

I use the online comparison sites and the rest of the population probably use the telephone. The online process is so advanced these days that, rather than taking half an hour, the time need to obtain a quotation is now down to 10 minutes and every form and cover notes are generated on a PDF file which arrived in your inbox within seconds. Whilst you’re on the website the system provides the facility to obtain other financial products as, from the comparisons site point of view, why stop with car insurance? Within minutes you can get a life insurance comparison. Arrange travel insurance and arrange a hire car to pick you up from the airport. The freedom the system allows is key, as you can access for your self a list of premiums and see for yourself how much cheaper one insurance company is over another.

Source: http://www.lifeinsurancecomparison.uk.com/blog/2011/11/17/always-make-sure-you-get-life-insurance-comparison-buying/

Living with Your IVA

Admin IQY — Thu, 03 Nov 2011 11:15:20 +0000

Entering into an Individual Voluntary Arrangement, or IVA, can be a massive shock to the system, particularly because of the more modest lifestyle you are required to adopt. Many people might find themselves in large amounts of debt through relying on credit cards, store cards, loans and generally spending more money than they have. But in order to keep up with an IVA this has to stop.

Once you enter into your IVA, you will be expected to live on a reasonable but modest budget; through doing so, however, you can start to control your outgoings, repay your debts, manage your money more responsibly and climb successfully out of your debt.

Living with an IVA is not impossible, nor is it a curse; and it will be beneficial to learn to live within ones means and be happy to do so.

Your Individual Voluntary Arrangement will have been planned by an experienced Insolvency Practitioner who, having studied your incomings and outgoings, calculated an appropriate amount to repay each month, within your current means. Changes to your financial situation, during the term of your IVA, should always be discussed as quickly as possible with your Insolvency Practitioner, so that your situation can be re-assessed and your payment plan and payment forecasts amended.

You will live with your IVA for 5 years (but for extenuating or remarkable circumstances). After the term of your IVA has been completed, your debt will have been removed and all that will remain will be a record of the IVA proceedings which remains on your file for a further 12 months.

Once free from debt, and from your Individual Voluntary Arrangement, it is important that you do not simply lapse into your previous bad habits; which caused your debt problems originally. Take on board the skills of organisation and moderation that you have developed and enjoy a debt free life.