The average Brit apparently spends £1,042 per year on new clothes every year - but should you just be throwing your old attire away? According to Elite Daily, 5% of your annual salary (after tax) is an acceptable amount of money to spend on clothes. So, say you’re on an annual salary of £28k, that would mean about £1,110 to spend on clothes a year. Monthly, that’s an income of around £1,850 which equals a clothing budget of £92.50. Despite the cold, wet and windy weather conditions summer is just around the corner and summer wardrobes will be making their seasonal appearance soon. Budgets are often tight this time of year with holidays and summer experiences booked in, so the personal finance experts at moneyguru.com have shared some top tips on how to get a new summer wardrobe without breaking the bank... Same clothes, different accessories A recent study revealed that every year, the average consumer throws away around 70lbs of … [Read more...] about Five ways to look good this summer without spending loads
Best way to finance new car
Motoring by Press Association 21/05/2019, 12:15 pm Send us a story Sign up to our Daily newsletter Many people throughout the UK currently finance their car. It’s a simple way of ensuring you get a new car, and means you’re behind the wheel of something without the elevated running and maintenance costs you may associate with an older car. However, there are several different ways to finance a car. Let’s take a look at those options and what they mean for you. There are four main ways to finance a car, which we’ll outline below… Personal Contract Purchase (PCP) The amount you pay monthly will depend on the size of your deposit, the cost of the car, the interest rate offered and how much the dealer expects to be able to sell the vehicle for at the end of the agreement. Hire Purchase (HP) In contrast to PCP, there’s no large final payment to pay because once you’ve paid off the sum of the agreement, you’ll own the … [Read more...] about What are my options when financing a car?
One of the most common ways for people to snap up a new motor is through what’s called a ‘personal contract purchase’ (PCP). With a PCP deal, you put down an initial deposit on the car that’s caught your eye, and then make monthly payments over a set period, say three to five years. When you come to the end of that set period, it’s decision time. Those monthly payments won’t have been enough to cover the overall cost of the vehicle, so if you want to keep it you’ll need to hand over a ‘balloon payment’. Alternatively, you might opt to return the car to the dealer at this point and go for a PCP deal with a new motor. That’s one of the reasons that PCP deals have become so popular. Because those monthly payments are smaller than what you’d need to pay in order to outright buy the vehicle, as would be the case with a hire purchase arrangement, you can enjoy a cracking motor at a fraction of the price, and then switch … [Read more...] about 3 incredible new cars you can get for less than £300 a month
Other research, from price-comparison website switcher.ie, found almost 40pc of people dip into their savings to cover everyday bills, with about one in four using their credit cards for such bills. These findings show how poorly many people are managing their money - and how likely people are to worry about it. Money worries can have a debilitating effect - leading to depression, anxiety and shame. "For a lot of people, financial stress and anxiety manifests itself in physical health problems, such as skin and gastric problems," said Michael Laffey, the regional manager with North Leinster's Money Advice and Budgeting Service (MABS). "Money worries and anxiety can lead to lack of sleep - and to relationship breakdowns." It's not just people on low incomes who worry about money. "I have seen greater levels of anxiety amongst those on medium incomes - because they often have bigger financial responsibilities and may have taken chances during the recession," said Colm Roantree, a senior … [Read more...] about Ten steps to putting your money worries behind you
Maurie Backman The Motley Fool Published 5:00 AM EDT Mar 25, 2019 You've probably heard that it's important to keep your credit score as high as possible. If you don't, you may not get approved for the next credit card you want, or you may get approved with a lower credit limit and a higher interest rate than you'd like. The truth, however, is that having bad credit won't just cramp your spending style – it might also prevent you from doing some of the things functional adults take for granted. What's considered a bad credit score? First, know this: That number can range from 300 to 850, so the closer you get to the bottom end of that range, the worse shape you're in. Generally speaking, a score of 700 or above is considered "good" or "excellent," while 650 to 699 is considered "fair." On the other hand, a score of 600 to 649 is considered "poor," while anything below 600 is, well, pretty much abysmal. Check out these tricks: These 3 surprising hacks can seriously boost … [Read more...] about Bad credit scores make it harder to get mortgage, car loan, apartments