New Year’s resolution – get your finances in place by following these simple tips
Here we are in the New Year and again, we have a resolution to sort our finances out, once and for all. With the whole of Europe on an austerity drive, personal financial planning has never been more important, so below are 5 tips from Money Vista that will help you get your finances in order for 2012.
1. Forward plan to save each month
It can be daunting working out if or how much you can save every month, so you may need some help. There are various online tools that can assist you with your financial planning. This savings calculator, lets you explore how much your savings may be worth in future or, alternatively, how to reach a savings target.
2. Get that debt down to a minimum
As simple as it sounds, the first step in getting your debt down is not to require any new debt. Make it an absolute resolution not to take out any more loans and stop paying for things with credit. Cut up those credit cards immediately. Do not cancel your credit cards but if you ask, you can sometimes get a better deal. Try to get as close to a 0% rate as possible.
3. Have a financial clear out
Have you lost track of how many direct debits and standing orders are coming out of your account? It appears most of us have and the average person has 6 coming out at various points in the month. In some instances you may be paying for things you really don’t need, so make a point of reviewing each of these payments and cancel the ones that no longer benefit your life.
4. Protect your assets
There are many things to consider when protecting yourself in the future. Have you made a will? Do you stand to be hit by inheritance tax? Do you think you will need medical cover in the future? Do you think your family will? If any of these issues affect you, it is worth seeking financial advice. Money Vista is an online service worth contacting for help and advice on protecting your assets.
5. Think about retirement
Old age is something that none of us want to think about but unfortunately it’s inevitable. Life expectancy is rising, meaning we are going to live longer. Retirement planning is definitely something worth considering, knowing that you are better protected in the future.
Tags: austerity drive, debt, service, place, forward plan, medical cover, rate, planning
Drivers ‘failing to check cover for Europe’
June 25, 2008 by admin
Filed under News, News-Insurance
More than 4.3 million Britons plan to drive their vehicles to Europe this summer but many fail to inform their insurer, a report has revealed.
Research published by car insurance supplier Sheila’s Wheels shows almost half of motorists now take their cars when holidaying in Europe, rather than choosing to catch an aeroplane.
Furthermore, 15 per cent of drivers admit simply assuming they are covered for driving overseas and would take their cars to Europe without checking.
It discovered that 18 per cent of people would check their documents before taking their cars abroad and only ten per cent would phone their insurance providers to check their cover was valid.
Jacky Brown at Sheila’s Wheels car insurance said: “When planning to take a car to Europe, it is crucial for motorists to call their insurer and tell them that they want to extend their level of cover for driving abroad.”
Sainsbury’s Bank also published research this week suggesting that 17 per cent of people plan to take their motors abroad during the next year.
Tories call for limit as ‘immigrants push up house prices’
October 10, 2007 by admin
Filed under News, News-Mortgages
The Tories have called for a cap on yearly immigration as it is blamed as one reason for the increase in UK house prices.
Research by property finder.com revealed that one in five people feel that restricting the influx of foreigners to Britain was the best way to bring down inflated prices and demand.
The second biggest cause of higher housing costs was attributed to property investors.
However, chief executive of propertyfinder.com, Warren Bright, expressed concern of the general public’s “poor” understanding of the real causes of the high prices.
Speaking on the subject he said: “10 years of low interest rates have brought about Britain’s high house prices, but this is poorly understood by most people.
“Restrictive planning policy enthusiastically enforced by local councils has severely constrained the ability of developers to provide the number of homes needed by Britain’s rising number of households, and has exacerbated the rise in property values.”
He added that immigrants and property investors could not alone be blamed as they were “too small in number”.
The news comes as Yorkshire Bank research found 43 per cent of Brits considering buying property abroad.
