July 2012

Cheaper Ways to Run Your Car

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Cheaper Ways to Run Your Car
If you’re in debt then you need to look for every opportunity to save money. One way to do that is simply to run your car more cheaply and this can be a big drain on resources otherwise. But how can you do that? Here we will look at some cheaper ways to run your car.
First of all think about the cost of the car itself, if you’ve had to take out an auto loan or buy it on finance then this will only add to your debt and that’s not smart. A better alternative is to buy second hand, or if you don’t want a second hand car, to rent a vehicle which involves similar monthly payments to renting but without your being ‘in debt’. Think too about things like MOT and tax and make sure that you pick a car that’s reliable so won’t cost you too much in servicing, but that isn’t going to cost you over the moon in tax (older cars often have much lower tax and in some cases you won’t even need to pay tax at all).
Some areas are worth investing in though – for instance getting a …

March 2012

How to Help Things Sell At a Carboot Sale

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How to Help Things Sell At a Carboot Sale
If you are trying to get out of debt then having a yard sale or visiting a car boot sale to get rid of some of your things is a wise move and one that can help you to get back into the green. The question is however, how do you go about selling things at a carboot sale and how do you get these old things that you no longer want to sell at a reasonable price? It can be very disheartening going to a carboot sale and then coming back with all the things you left with and no further out of debt. Here then we will look at some tricks you can use to help things sell.
 
Don’t Price too High: A common mistake when selling at carboot sales is to price too high and to sell products at prices that you think they are worth. This however is a mistake – people go to these places for bargains and the profits you make are reliant on cumulative sales – on lots of things selling and on this earning you a large combined sum. Price your things low and grin …

February 2012

How to Check Your Credit

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How to Check Your Credit
Getting into debt is dangerous for many reasons, and among these is the impact it can have on your credit rating which can then make it difficult for you to apply for credit cards and general loans. Because your credit rating is a reflection of your previous ability to pay back loans, this means that lenders are weary of lending to anyone whose score is bad.
Fortunately there are several ways to improve your credit rating – such as getting a credit card and then paying it back on time regularly, or paying off all your existing loans, or using loan consolidation in order to pay off debts with one larger loan that you can then pay back.
However in order to know whether you should go ahead with these strategies you first need to know the condition of your credit rating as it is. At the same time you also need to know what your credit rating is like before you apply for loans and even before you apply to rent a property. If you don’t then you can end up wasting time spent applying only for your application to be rejected, and this will often cost …

January 2012

How to Pay Less Taxes

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How to Pay Less Taxes
None of us enjoys taxes, and each time we get sent a bill, or see them printed on our wage slip this hurts quite a bit. However while no one enjoys tax, for some of us it is even worse than it is for others. For those in debt, specifically taxes are the last thing we need and this can sting particularly badly each time we have to part with the money that we badly need.
There are countless places our taxes come out, but thankfully there are some ways you can reduce your costs and pay less taxes thereby saving more money to use for other things. Here we will look at how to pay less taxes and where precisely we are losing the most money.
 
Council Tax: Council tax is tax you pay for having or living in your property. The concept is that you are living in a property in a certain area and that means that you will be enjoying the amenities and benefits in that area such as roads pavements clean streets and public toilets. Thus you’re paying for that.
This is also based on your property however, and it is thought that those …

January 2012

What Are Bank Auctions?

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Bank Auctions
Debt is a terrible thing for anyone to have to experience, and likewise the economic crisis and the effect it’s having on many people’s bank accounts is equally as terrible in many ways. However at the end of the day these do also provide advantages for the savvy who find ways to take advantage of this debt and to benefit from other people’s problems. It sounds harsh, but it’s at least better than letting their struggles be in vein and following suit. One example of this is bank auctions, which provide an ideal way for small companies and even individuals who may be in debt themselves to get a range of great things at very good prices.
So what are bank auctions and what do they have to do with debt? Well the other name for bank auctions is ‘business liquidation auctions’ and this gives you some clue as to what they provide. Essentially bank auctions are auctions held by banks in order to sell off the various items that they have repossessed from businesses that have declared bankruptcy. Most businesses owe several debts to banks and these are for a range of things from business start up loans to …

November 2011

What is Compound Interest?

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What is Compound Interest?
Getting out of debt relies on many things but most of all it relies on you doing your research and working out how the system works and where you can start saving money. Knowledge is power and the more you know about loans and debt the more money you can save and the better off you will be financially. Learning about compound interest for instance can help you to save money on your loans and can help you to better choose your bank accounts.
Firstly then – what is compound interest? Well essentially the term compound interest means interest that increases exponentially over time – interest that is added to the ‘principle’ amount of money in the pot so that the next year’s interest comes out of the combined amount.
To make it it a little simpler imagine you have a bank account worth $100 and it was in a savings account with 2% interest. After the first year that money in the account would be $102, but after the second year of compound interest it would be $104.04 – because 2.04 is 2% of $102. If the account didn’t have compound insurance then at the end of the …

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