As part of the BBC’s reports on The Downturn, they’ve posted a series of tips and further reading for helping cope with a recession.
It’s a sad fact that over 19,000 homes were repossessed in the first half of this year, and with the way things are going, that figure should be easily surpassed during this second half.
So if you’re struggling to pay your mortgage, what should you do? Here are 7 tips (plus a bonus tip) that will help you out.
FreeMoneyFinance recently asked are you feeling any economic pain, so I thought I’d look at the same subject from a UK perspective, and poll Money Watch readers on whether you are feeling the effects of the credit crunch yet? When I say crunch here, I’m using the term loosely, as I’m referring to more than […]
In the past couple of years, a sedentary job and a little over-eating has meant I’ve been putting a little bit of weight on, and it’s come to the point now where I feel that I really need to do something about it. Whilst I’ve been developing a plan to combat the extra pounds I’m […]
I recently came across the term snowflaking – a method for repaying your debts – which I’d never come across before, so I thought it, and the related snowballing method, warranted a little investigation. To explain snowflaking we first need to understand the concept of snowballing your debts, where snowflaking stems from. Snowballing is often […]
Out of curiosity, I recently checked my own credit rating, just to make sure there was nothing nasty on there (and why should there be?!). What it did tell me was that having moved house within the past year could cause me problems if I applied to get more credt. If think you may be […]
Brad Ford made a great point on my previous post about whether to pay off your student loan or not: Without factoring in risk, paying off the student loan is an easy decision. Unfortunately, life is not without risk. Two months after you pay down the loan, you absolutely must have $1,000 for an emergency. […]
Like many, I left university with some debt. I’m probably one of the lucky ones though, as it wasn’t a huge amount, compared with the average figures that students are accumulating these days, plus all of my debt was in student loans – no overdrafts, credit cards etc. I’ve been wondering recently whether I should […]
You’re probably aware that interest rates have risen once again, up 0.25% to 5.75%. This is the highest rates have been since March 2001. The graph below shows how rates have changed over the past 10 years: I think one of the key things to look at is the difference between the rates as they […]
According to the Financial Times, there’s a growing number of companies offering to buy your home off you and let you rent it back from them if you are in financial difficulties. The companies target those who need to raise cash quickly, such as those who are about to be repossessed, yet wish to remain […]