Better For Some, Worse For Others

Best Home For Your Savings

As Personal Debt Shrinks for Some, Others Face Crisis The way people spend money reveals a great deal about their financial attitudes. And if the recent uptick in consumer spending is any indication, UK shoppers are feeling pretty good about the economic recovery. But economic trends send mixed signals, so it makes sense to consider the big picture before jumping to conclusions. And though positive economic activity is good, by most measures, spending driven by debt is unsustainable. As many borrowers found out in 2008, taking-on too much debt leads to catastrophic outcomes. And though stop gap measures have been fortified within the mortgage industry, a new wave of debt is showing up, … [Read more...]

Saving Or Investing ?

Saving Or Investing

I've read quite a few articles and blogs recently which seem to confuse the two separate principles of saving or investing. In my opinion Savings and Investing are two different things. Saving can mean reducing the amount of money or time you spend on something but when comparing saving to investing I think that saving can be described as putting money aside in cash, or deposit style account. These savings accounts carry little to no investment risk (eg you won't make a lot, but you won't lose much either). You can either make a nil return - by stashing your savings under the bed or a safe but low return from a bank or deposit account. Investment involves risk and chance - plus … [Read more...]

Payday Mugging

Payday Mugging

Payday Mugging No one wants to be the victim of a mugging. We’re all shocked when something like this happens in our neighbourhood. There is outrage on the news, and column inches written in the press. My last post about how taking out a short term payday loan can have a long term negative impact on your credit rating made me realise that payday loans are nothing but a legalised financial payday mugging. So rather than being a payday mug – I think it’s right that this post should be about the alternatives to taking out a payday loan. Reading about students using payday loans to buy concert tickets, without realising the damage they are doing to their long term financial prospects, … [Read more...]

Payday Pain

pay day loan

Fancy some payday pain?   It seems as though taking out a payday loan can have long term repercussions on your personal finances. As well as having to pay eye wateringly high short term interest rates ( the highest I've seen is over 1750%pa) it seems as though there is now a long term sting in the tail for those desperate enough to fall for the marketing charms of the payday loan companies. Recently released mortgage application data in the UK shows that highly paid professionals such as lawyers, company bosses and other young professionals are having mortgage applications turned down because they have in the past taken out payday loans. Wow! It appears as though … [Read more...]

Struggling To Keep Up A To Do List

The year of Systems

Have you ever found yourself struggling to keep up a to do list ? In my drive to become more organised, a better businessman and generally more efficient I decided to start using a to do list. See Procrastination - A Blight On My Life or Old Habits Die Hard and Getting Organised It didn't last long. Less than a week in fact, as I ticked off all the nice and easy jobs on the list but then backed out of doing the "tough stuff" So I feel as though I'm back to square one again. Struggling to keep up a to do list has been a part of my life as far back as I can remember. As you can see its something that has been at the fore front of my mind recently but breaking the chains … [Read more...]

A Zero Day – On The Road To Frugality

A Zero Day - On The Road To Frugality Yesterday I recorded my first ever zero day. I've decided that a zero day - is one where I don't spend a penny (well a financial penny). Hopefully, this will be the first of many in my new regime of frugality. I took a packed lunch to work - saving the £3 I usually spend at the office café. And I also cycled to work for a change, therefore saving money on fuel. I usually buy my lunch from the office café, or from the local branch of subway - spending £3 or £4 a day which can add up to nearly £20 a week or £86 a month (£20 x 4.3333 weeks in a month) A really big saver is cycling to work instead of driving. I only live 3 miles away from my … [Read more...]