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...]

Breaking The Chains

Breaking The Chains

Its been a good week. I think I've made tremendous progress in breaking the chains that have been tying my mind up in knots over the last few weeks. Breaking the chains of procrastination hasn't been easy, and going through a period of navel gazing , identifying your own personality flaws isn't an enjoyable process. The good news is that I liked myself a couple of weeks ago, and I still like myself today even though I know realise that I'm not as perfect as I once thought I was. The first thing I did after last weeks angst ridden post,  was to finish the Julie Morgenstern book about time management - and realised way before reaching the end of the book, that time management was … [Read more...]

November Spending Plan and To Do List

November Spending Plan

Lets start off with the plans I set for last month before I get on to November spending plan. I'm not really happy with my progress, like I've said in a previous post, "Old Habits Dies Hard" and this has proved to be the case in November. I've not really achieved what I set out to at the start of the month and to be honest am a little disappointed with myself. October has been a month of distraction - my in laws moved in with us at the start of the month, and to say its caused a domestic upheaval is something of an understatement. Anyway - after a month of seemingly endless Atlantic storms blowing across - the sun is shining this morning and I feel as though I'm going to have a much … [Read more...]

A Budget – At Last

A Budget - At Last In my last post I said ....... This evening I'm going to make a personal income and expenditure chart with an overall objective of increasing my income - and reducing my expenditure and paying off my debts (cards, tax etc). And I'm not going to start this process at the end of the month or the first day of the new month - I'm going to do it TODAY. Well, I did it - of sorts. But it took me longer than I first thought. By scrutinising the credits and debits on my bank statements for the last 3 months I've finally come up with my definitive list of regular expenses, for both domestic and business accounts. My expenses weren't as frightening as I at first thought they … [Read more...]