You have the A level grades - well done! There are now just a few weeks to get organised for uni in September 2018. What should your top priorities be for managing your money? And what should you avoid? Living on a student loan is hard You will probably get more money in your bank account than you have ever had before. But most students find it harder to manage than they expected. It’a not … [Read more...]
I write about a lot of Personal Finance that isn't directly about problem debts. Those articles are gathered here.
Spending - reducing or controlling it is usually essential if you want to reduce your debts. So Budgeting is another big topic.
Your grandparents used a pen and paper, but now we have Apps to make all this easier.
Mortgages - sometimes thought of as the only good sort of debt!
Credit ratings - important if you have too much debt or very little!
Affording school uniforms can be very difficult for any parents on low incomes - if you are in debt it can be a nightmare. A Citizens Advice survey found that a quarter of all parents have to borrow money to afford uniforms. This isn't just a financial problem. Children who aren't wearing "the right uniform" are at risk of being stigmatised or bullied. Government is making the right … [Read more...]
A reader asks: Help! I have just been made redundant and I don't know how I am going manage, especially as we have debts. I'm only getting a few weeks redundancy pay. What should I do? Every week in 2018 seems to bring more news of shops and other businesses closing down. And it's not just the big names like House of Fraser and Carillion - when one firm shuts, its suppliers and small local … [Read more...]
Paying off debt can feel like a long war with your creditors - you may have a good few months and then some setbacks. But what if this battle was a game of tennis? Listening to the Wimbledon commentators gives clues about how the top players approach training and big matches ... Here are five ideas that can also be applied to clearing debt. 1) Improve your skills "She's been working … [Read more...]
Buy Now Pay Later (BNPL) and other deals promising no interest sound so appealing. And so sensible if you are short of money. But very often you end up being charged large amounts of interest. The retailers offering these "bargains" know this happens and that they will make a lot of money from them So what goes wrong? Here are three things to look out for if you see one of these … [Read more...]
Do you have money problems because you get paid at different times to when your bills need paying? Or does your pay burn a hole in your pocket so you can't save? Here are some typical things I hear: "I get paid every 4 weeks and it's hard to make sure money is in the account when monthly direct debits come out"; "We spend too much at the start of the month and have nothing left for the … [Read more...]
Are you wondering how to keep your children happily occupied at the lowest possible cost all through the summer holiday? Here is a pile of ideas, including a lot of new ones for 2018, and they are mostly free or pretty cheap. A summer bucket list? Why not create a summer holiday bucket list and pin it to the fridge or noticeboard? try to cross one off a day... they don't all have to be big or … [Read more...]
So you have graduated - you may be excited or apprehensive about your future. Sad because you will miss your uni friends or know it's time to move on. Or harassed and hungover as you try to get things packed up to leave. But whatever you choose to do next – a job, an intern position, go travelling, or more studying - there’s some financial admin you should deal with now, to stop big problems … [Read more...]
The first Help to Buy mortgages were given in April 2013, so they are getting to the five-year point when the government's 20% share stops being "free". If you have used the Help to Buy scheme, this article looks at what your options are at five years. And if you are thinking of buying your first home with Help to Buy, read this so you know what happens in five years time - don't assume it … [Read more...]
Here are some questions I have seen recently about how long it takes to improve your credit score to get a mortgage: I was foolish with credit cards for years but now I am determined to buy a house - how long will this take? My credit score is dreadful. My new partner has a good credit record and we want to get a mortgage. I have a poor credit rating but I have now inherited a deposit. … [Read more...]