Monthly Archives: July 2013

Tips That Help You Manage Your Personal Finances Well

Managing personal finances and that too personal finance is not an easy affair. In fact many of us face problems in taking care of our personal finances in spite of making a budget. It often happens that we end up spending more than we actually intend to.  So what can you actually do so that you can manage your personal finances effectively? It is essential to make some strategies and try to stick to them to achieve the desired results. Some of the tips that will help you to manage your personal finances in an effective manner are mentioned below:

Have a pre-defined goal: When it is about managing one’s finance, it is always better to have a set of pre-defined goals. By this we mean make a list of things that you need to do in order to bring your personal finances under control. For example if you have a lot of debts, think of ways by which you can clear off your debts without hampering your current financial expenditure. And don’t forget one thing, which we often overlook, controlling one’s finance not only includes cutting down one’s expenditure but also trying out ways and means by which you can save your money. And this should be in accordance with other goals like, buying a house, a car or starting a small business and so on. The kind of financial plan you have will depend on the kind of expenditure and saving you have in mind.

Give up some things if you have to: while making your financial plan you will notice that you need to give up certain things so that you can achieve your desired savings. Try to focus on things that you can give up and something that you don’t need so that after you give up those things you don’t regret your decision for doing part time jobs. For example: if you are in the habit of partying every weekend then you can restrict those parties to two times a month so that you can save there. Little efforts go a long way in helping you achieve the desired results.

Before you make the financial plan, monitor your expenditure: the best way to make a financial plan is to monitor one’s expenditure for the next 2 months. Financial spending varies from an individual to another. And when you start to monitor your expenditure you will notice that there are many areas where you are spending unnecessarily and that if you down your expenses in those areas you will be saving a huge amount of money.

Share your plans with your family members: sharing your financial plan with your family members is a very healthy step, simply because once your family members are aware of your financial planning they can chip in too to make further savings by doing work from home. And you must share your plans with your children as it makes them aware of the value of money as well as the benefits of saving from an early age.

Avoid paying extra: There are many amongst us who pays extra money throughout the year. How? Well by not paying the electricity or telephone bills on time. As a result they are charged with penalty fees which when clubbed on an annual basis is quite a huge amount.

 

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“Updating Your Home Insurance Policy After Your Move” OR “Checking on insurance during a house move”

Right, the big day has been and gone and the weeks of packing and preparation have led you to your lovely new home without too many boxes that are suspiciously more rattly than when they were packed. Not only did the removals guys find the right postcode for your new abode, but they even found the right room with some of your carefully labelled boxes. Insurance probably won’t be the first thought you have under these circumstances, but it should certainly be somewhere on the checklist.

Insuring the fragile contents– Probably the first thing to consider is who is actually doing the move for you and will they have appropriate insurance cover for the job they are doing.

A reputable, professional removals firm will, of course, be fully insured and if anything happens to your valuable home contents whilst they are in their care you will have the security of knowing you won’t be out of pocket, at least financially.

However these professional house movers often come at a substantial cost and in these financially strained times more and more people adopt a DIY approach, hiring a large van or a man with van service and doing the job themselves. In these circumstances it is definitely worth speaking to either your home insurance provider or even the vehicle insurer to arrange additional cover for this purpose.

Insuring a smooth move– Ideally, and if you are the super-organised type, you will have called the insurance providers along with the utility companies, telephone provider and banks some time in advance of the big day and informed them of your plans.

However, the rest of us stumble along and deal with these things as and when we remember or when a problem arises. The important thing to remember with insurance services is that in the event of a claim, if the material facts differ substantially from the agreed details on the policy document they won’t pay out. In other words if your new home floods, or catches fire, and you haven’t updated the insurance company with your new details then you may well find yourself uninsured. It really is pretty difficult to overstate the importance of dealing with these things as soon as possible!

Insuring a happy home- The fresh start offered by a new home is a great time to review all manner of things and there are many comparison sites to be found on the internet that make the job really easy. With the Internet and the online policy management facilities offered by most insurers, you are not even constrained by office hours or the need to speak to a real person to keep your insurances up to date. With home insurance, just like vehicle insurance, is worth shopping around to make sure you are getting a competitive deal – both in terms of the cost of the premium but also on level of cover, voluntary and mandatory excesses. Such additional extras as jewellery and high value items cover, and cover outside the house can be added to the policy at extra cost but do provide real peace of mind.

Author bio: Samuel Joyce is a writer by heart. He lives in London with his wife and his lovely child. He has contributed many articles related to home improvement, home removals and interior decoration. Besides he has also written about companies offering removal services in London.

 

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Majority of Brits Feel Optimistic About Their Finances

Families are feeling more positive about their finances, according to a recent survey.

Markit, a financial information company, says that Brits are more upbeat when it comes to their money than any other time since 2010.

Tim Moore, a Senior Economist at Markit, said: “Households’ perceptions of financial stability are now at a level unsurpassed over the past four-and-a-half years.”

The Household Finance Index (HFI), a survey compiled by Markit Economics every month to anticipate changing consumer behaviour, has reached a record high over the past three years. It hit 40.8 in June which equalled a previous high in February 2010.

However, the findings suggest that most people think that their household finances have gone downhill and many still expect things to get worse in the year ahead. Anything below 50 means that a decline in standard of living has been detected; whilst readings above 50 indicate an improvement.

Further findings showed that when it comes to workplace activity and confidence in job security, the index fell from 53.5 in May to 52.8 in June however; it remains above 50 for the fifth consecutive month.

It is great to hear that so many families are feeling less gloomy about the economic climate and are instead optimistic about the future!

The study, which involved 1,500 people being surveyed in Britain, was carried out by Ipsos MORI.

It concurs with another report published by Vouchercodes.co.uk which revealed that three out of four dads worry about their financial situation.

The study found that more and more fathers are feeling the pressure to provide for their families but many are hiding the strain and keeping it to themselves because they don’t want to worry their partner/relatives.

One out of five dads won’t even talk about it and the biggest cause for concern is the rising price of energy bills. Nearly two in five dads confess that the increasing cost of weekly food is what makes them agonise about the finances.

According to the survey, 80% of younger fathers aged 18-24 years-old worry the most about money in comparison to 66% of dads aged 55 and over.

How are you feeling about your household finances? We’d love to hear your thoughts. Are you optimistic about 2013/14, or are you doubtful that the economy will turn itself round?

This article was provided by Ian Chase on behalf of Solve My Debt, the go-to-experts for debt management solutions. If you are struggling to meet your monthly repayments or have fallen into arrears, don’t delay! Get your debts under control now and visit the site for more information.

 

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Moving House: 3 Simple Tips to Stay Sane During the Move

Congratulations. Or not. Whatever your reasons for moving may be – better schools, better environment, cheaper real estate, a bigger house, a smaller apartment – the headache involved is pretty much the same. In fact, moving from one house to another is supposed to be one of the most stressful events in a person’s life. So how do you deal with this stress? Follow these simple moving tips and keep that ulcer at bay.

1. Make a moving folder.

Whether this is an electronic spreadsheet for your computer of a physical colour coded file, you are definitely going to have to get organized. Make a list of who is going to do what. Then make a list, room wise, for all the stuff that you will be taking with you to the new house or flat. Label all the moving boxes and keep a list of what’s in what box. Also keep any important addresses and phone numbers handy. And don’t forget to make multiple copies of the folder for family members.

2. Don’t do the conveyancing yourself.

There are many professional firms and individuals that can take care of all the legalese and the hassle, all for less than a hundred pounds. And if you’re tech savvy, you can even complete the whole process online. In fact, if you’re looking for the cheapest conveyancing quotes, the internet is your new best friend.

3. Figure out whether you need to hire a professional moving service.

This is all going to depend on what you’re going to be moving to the new house or apartment. If it involves any heavy furniture (anything that can’t be dismantled) like armoires, expensive wooden tables and chairs, a piano perhaps, then you must hire people who know exactly how to pack an move these items. However if you’re moving to a fully furnished place, or have sent the heavy furniture ahead, all you need to do is hire a moving van to carry the whole family’s personal belongings to your new home.

Now that you have these handy little nuggets if wisdom, we hope that your move is a pleasant and relatively stress free one. If you have any tips you’d like to share or any questions about the process of moving, do write about it in the comments section. And if you’d like some more information on this topic, click here for more resources.

 

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