Simple ways to save money

save money

Getting started is the hardest thing while saving money. It is possible but difficult to plan out simple ways to save money and pursue your financial goals by using your savings. Here are some of the simple and realistic ways to save your money.


Track your expenses

Figuring out how much you spend would be the first step in saving money. You can count every penny you spend by keeping track of all your expenses such as snack, newspaper and every coffee you buy.

Do organize the numbers by different categories like grocery, mortgage and gas once you have the data and make the total of each amount. You can easily break down your spending if you are able to filter your statements in online banking. Hence you can make use of your bank or credit card statements to easily save money.


Create a budget

Now begin to organize your recorded expenses into a budget that is workable once you have an idea of what you had spent in a month. To be able to plan your spending and limit the overspending, a measurement of your expenses up to your income should be outlined by your budget. Make sure to consider the expenses that take place regularly but not per month, in addition to your monthly expenses. One of the Examples is car maintenance.


Start saving small

Now it’s time to create and add a savings category once you have made a budget. As a part of savings try to put 10% to 15% of your income to save money.

Also, it might be a time to cut back if you cannot save money that much due to your high expenses. To make it possible you must identify some non-essential and unnecessary things on which you can spend less such as dining out and entertainment.

save money

Try to choose something for savings

Setting a goal is one of the best ways to save money. Start thinking for what you want to save – be it a vacation or a down payment for a house. Next figure out how long it will take you to save for such a thing.

Let’s see some examples of long-term goals – Child’s education, down payment for home and your retirement.

Examples for short-term goals – Vacation, down payment for a car and emergency fund to cover living expenses.

You can also consider putting money into an investment account if you are saving money for a child’s education or retirement.


Prioritize the goals

Goals will be the next thing that will have the biggest impact on how you will save money. Also, make sure that you remember the long-term goals. You will have a clear idea of where to start saving if you learn to prioritize the goals.

You could also start putting away the money for a new car, if in near future you are going to need to replace your old car. Hence prioritizing the goals are very important.


Automatically make the saving

The automated transfers between checking and savings accounts are offered by almost all the banks. You can also split your direct deposit between your savings and your checking account or you can also choose how much, when and where to transfer money to.

As you don’t have to think about automated transfers, they are always a great way to save money. The automated transfer also reduces the temptation of spending the money.


See your savings grow

It will help you stick with your personal plans for savings as well as identify and fix the problems quickly if you keep checking your progress every month. In order to save more money and achieve your goals very fast, these simple ways of saving money will help you and even inspire you a lot.


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Guarantor Loans

Bad Credit Finance

bad credit finance

We need money in our life to get through the day or the whole month. These are the basic necessities of our life without which we cannot live. For example, food, water, travelling to work, electricity bills, etc. We have a monthly budget planned for expenses like this so that you can manage your finances. However, there comes a time where you are in need of extra money. At times like this, you cannot make use of your monthly budget as it may disturb your daily expenses. So instead you can opt for a bad credit finance.

The need for extra money can be dues to any unfortunate event like a ceiling leak, house repairs or your car needing a little tweak. Going for long term loans which consist of a very high amount doesn’t make sense as you would be buying extra money for a little expense, which you would be paying for years. As the money required for this is not much you can borrow a small loan to take care of these expenses.

These loans are also known as bad credit loans or small unsecured loans.


Small Loan or a Bad Credit Finance?

There is no difference between a small loan and a bad credit finance.

Bad credit finance is nothing but a small loan which you can borrow if you have a poor credit rating. Most People in the UK have a bad credit history which makes it difficult for them to borrow money. But now lenders have started giving out credit to people even if they have a bad credit score.

What is a Bad Credit? Why Do I Have it?

A bad credit score is a score given to you on the basis of your past finance transaction and how you have managed it in the past. There are many credit agency who can help you to know your credit score like Experian, and Equifax.

If you have a poor credit score it means that you have failed to manage your finance. Apart from this, there are many reasons why you may have a bad credit score like –

  • If you have missed your loan repayments in the past
  • The repayment amount is not paid in full
  • If you have a huge debt
  • Bankruptcy
  • If your identity has been used for any fraud
  • And your permanent address is not registered on the electoral roll

If you have a bad credit score you should try to improve it by paying your outstanding debts, making repayments on time, and updating your address on the electoral roll. However, it is a very long process, so if you are in need of some extra cash you could go for a bad credit finance instead.

bad credit finance

Who Are Eligible to Get a Bad Credit Finance?

Though lenders are providing you with a bad credit finance despite your poor credit history, there are certain criteria that you need to fit in. So be sure that you fit in the below description in order to be eligible for this loan –

  • You must be 18 years in age or above
  • A UK resident for more than 6 months
  • You must have an active bank account and a phone number


Is this Finance Option Expensive?

When it comes to paying back a bad credit finance it can be expensive. Although it depends on your credit score. If you have a decent credit score you could be charged a low interest rate compared to the person who has a very bad credit score.

These finance options are expensive because of the risk the lenders carry. They do not have any security against the money you are borrowing from them. If you miss any repayments of the loan and don’t pay on time they are the ones who are going to lose their money. This is the main reason due to which the lenders are charging higher interest rates compared to the interest rates charged on any other secured loans.



So if you are looking for a quick small loan and have a bad credit you can borrow a bad credit finance. However, you should also check if you can get credit in another form like from friends or family before applying for this loan.


Simple life hacks you could use to keep your finances in check

finances in check

It might be difficult to keep a track of your finances so here are some life hacks which will keep your all finances in check for you. Do check these hacks and let us know if anyone of you is going to try.

Try creating a budget

You will be able to create a budget only if you know how much do you spend from your money journal and how much income you have coming in. It will mean that your finances are going in a wrong direction in case you are spending more than you are earning and your income journal will be acting as an indicator for such situation.

To start saving, you must have a look and see if there are any ways you can cut down once you establish your true expenditure and true income. Try to break this task into small chunks which are manageable as it might seem a difficult task.

Starting a money journal

Maybe you will always be in the dark about how much you spent and for what you spent, so it is very important to write down on what you spent your money on. For a month you must note down about what you spend your money on. You can do all this at the end of the day as you go and keep your receipts.

Try to increase your income

Doing a side business is again another life hack to keep a track on your finances. Beyond your current income, these are a great way of making some extra cash.

There are several other things such as selling DVDs or books, offering a service, selling your old vintage clothes, starting your own blog and completing the surveys that will pay you because of which your income will increase.

Try using cashback websites

Make use of the cashback websites if you are shopping online. One of the websites would be Topcashback which will pay you for shopping online. If you are buying anything then it is a great way of getting a discount off the items. Also, you could get a commission on recommending it to a friend.

finances in check

Make use of coupons and money saving apps

To save £100 on your grocery shopping, a coupon is another easy way.  You can download money-saving apps or make use of printed coupons to get reduced or free grocery items for yourself or family. The savings may be large or small but it will help you in saving money.

Go for meal planning

Frankly speaking, it is true that meal planning will help you in many possible ways.  It can help you to save time and money. It may turn a boring dinner into a lovely feast by helping you to cut down on waste.

However, it doesn’t really take that much longer as people often complain that they just do not have any time for planning. Instead of buying food that may end up in the bin you will be using what is left in your freezer so that it will save you tons of money.

Try to plug your spending leaks

By plugging your spending leaks you will able to go one step further once you established your expenditure and income as well as created a budget. Try to answer some questions such as why are you spending money on this item? Do you need this item? Is there any alternate item which is less expensive?

Answer all these questions with some thoughts. A strategy such as setting a savings target for a holiday and then using this strategy to deal with such questions must be prepared if you want to stop bad spending habits.

Don’t be afraid of trying all these hacks. Because right now it’s the best time to get your finances checked and have a plan in a place to keep them on track.


Read more:
What Is a Mortgage?

Personal Contract Hire (PCH)

personal contract hire

One of the most popular and common forms of transport in the world are cars. There are certain things that never get old such as freedom to drive the car whenever and wherever you want. Compared to buying a car directly, personal contract hire will make the use of vehicle more affordable and straightforward. Personal Contract Hire (PCH) is a long-term rental agreement for a vehicle.

PCH only applies to a specific individual instead of a business which is the main difference between PCH and other contract hires. While a person is talking about car leasing in general, the Personal contract hire is a popular way of leasing a car associated with it normally.

You can drive a car for an agreed period of time when you have a personal contract hire and this period is known as lease period. You won’t own the car even if the car is in your possession. The time period your contract runs can be used to make the monthly rentals and you will return the car once the contract is completely over. People don’t have to worry about the resale value of the actual car at the end of the agreement. You can walk away without any extra responsibility once your contract is finished because you actually don’t own the vehicle.


Personal contract hire – Benefits


The way to use the car becomes convenient which is one of the main points in taking out the PCH. Because of all the maintenance occurring later on in the future and large upfront cost, many people get turned off driving a new car. As you know that a loan for a car is more expensive but the monthly rental can be smaller in PCH as compared to getting a loan. Hence the advance cost of leasing a car is lower than buying it.

Fixed cost

The fixed cost is one of the main reasons for a person to choose the option of leasing a car. You will be able to set your budget properly without any additional cost out of nowhere because before the contract starts you will definitely get to know how much the monthly rentals will be.

Very fewer obligations

You will have very fewer obligations to take care of which is one of the greatest things about personal contract hire. At the end of the agreement, you are not selling the car because you don’t own it which completely avoids the extra work of putting the car on the market and let the buyers see the car and sell it. What you need to do is return the car and finish the agreement. Along with your PCH agreement, you also have the option of adding maintenance package due to which you don’t have to worry about any problem with the vehicle.

personal contract hire

Working of Personal Contract Hire?

At the end of a contract, you don’t need to worry about vehicle disposal, its warranty and depreciation as it is a long-term rental. To use the car for an agreed amount of mileage and time, you pay a fixed monthly rental. Your mileage will increase if you are an individual that has to travel a lot. This means a higher monthly rental due to the increased depreciation. Paying monthly rental is more accommodating as compared to buying a vehicle because monthly rentals you are paying is fixed. A lot of people cannot afford to have a new car on regular basis but they do prefer to have a new car. In such case personal contract hire is the best option. If a contract is finished, then on the same day you are able to start a new agreement.


Personal Contract Hire – Key Features

  • The monthly rentals are calculated by the contract period of the vehicle, the cost, a residual value of the vehicle, an additional option like maintenance contract and mileage allowance.
  • It will remain the property of the finance company as you will never technically own the vehicle. Hence you won’t need to worry about the depreciating value of the vehicle
  • It is the most common form (of private car leasing).
  • It has fixed monthly rentals that covers the vehicle rent and also has a maintenance option if chosen.


What Are the Main Benefits of PCH?

  • To meet your financial requirements and driving habits the terms are flexible.
  • The initial rental is very low.
  • To make the budget planning easier, the rentals for the whole package is fixed.
  • You don’t need to worry about its disposal or depreciation at the end of your agreement when you return it.
  • The vehicle that is not reachable in terms of its on-road cost you can lease it with PCH
  • Spreading the cost of monthly fees in PCH you are allowed to include the maintenance of the vehicle.

A car leasing is the best option for you, if you don’t want to own a vehicle or if you always wanted a car for a personal use.


Credit Cards for Bad Credit

credit cards for bad credit

Can You Get Credit Cards for Bad Credit?

Yes, it is possible to get credit cards for bad credit. As a study, the banks approve credit cards to their customers who have bank accounts with them. Similarly, it is not necessary that you need to have an account in the bank to get the credit card. Likewise, the credit cards are subject to customers’ credibility and reliability. In most of the cases, a bank does your credit check before approving your credit cards.

Simultaneously, If you already have a bank account with the bank. You may get credit cards for bad credit too. Because the bank knows that you have been dealing with the bank. And it is easy to recover funds from you in extreme cases. Generally, a bank keeps a fixed deposit against the limit of the credit card to avoid any risk.

There is another form of borrowing if you don’t want to go for credit cards. These are basically loans which you can borrow despite having a bad credit.

How Do Credit Cards for Bad Credit Help?

As we know, credit cards have credit limits and a cash limit too. So, a credit card user uses the credit limit of his credit card to spend money. Moreover, it is virtual money still it solves the purpose like real money only. Likewise, the cash limit of the credit cards can also be used when needed. Therefore, the credit card is a financial medium to make transactions. In fact, if the credit card user keeps using the credit card intelligently, he picks up his credit rating. In addition, the bank may increase the limit of your credit card if you make the payments without delay. So, the credit card is a way which can help you improve your credit scores.

credit cards for bad credit

Measures for the Credit Cards for Bad Credit:

Precisely, The users who have credit cards for bad credit have to be really careful about using their cards. Because they are already in the category where they hold a bad credit rating. And if they do not make an appropriate use of credit cards or they fail to pay on time. They may get a high fee to payback. Like, there will be a late fee and extra charges towards the card payment. Similarly, this pattern of late fee may push them to default the credit card in the future. Also, they may spoil their credit limit or the bank may squeeze it. As a result, it will turn your bad credit rating into an extremely bad credit rating. Thus, people who have credit cards for bad credit should be wise and disciplined to use it.


Read more:
What Is Life Insurance?

Life Insurance

life insurance


It’s said that the best thing you can do for your family is not to make them feel the loss even when you’re no more. Losing a loved one can alter family members’ lives like never before. They lose their loved one’s moral and financial support. Yet, you can ensure that your family gets financial support by choosing a life insurance product. Almost every UK citizen is getting his or her life covered to protect against unforeseen events. It’s wise to get it early on as life cannot be predicted. It’s never too late to think about our family’s future.



Life insurance acts as a financial support for your family after you die. Most often, family members are dependent on a single breadwinner and are devastated when that person is no more. If your children or partner are dependent on you for their living expenses, you should definitely buy a product that covers your life.

There are many insurance companies like Aviva which is well known all over Europe for their life insurance policy. It is beneficial for your children and wife as it pays them a lump sum or regular payments if you die.

life insurance

You should check whether your employee package includes ‘death in service’ benefits, in which case you might need just a top-up on the already existing insurance. If you’re young and healthy, life cover provides good value for money. However, it only covers death and not unemployment due to illness or disability. If you have an existing medical condition before you apply for a cover, it may come only at a high cost.



Getting a life cover is always a good thing to do if your partner, children or relatives depend on your income to cover mortgage and other living expenses. Even after you die, your partner has to live their life, your children have to get a good education and a well-paying job. Life insurance provides for your family in the event of your death, so that they are not affected financially. The amount of money paid out will depend on the amount of total premium you will be paying. You can either opt for a full payment in lump sum or monthly payments that cover mortgage or rent. You may not need it if you’re single, your partner earns enough for a living or you’re eligible for state benefits.



They are of two main types:

  • Term insurance policy: They run for a fixed period, say 5, 10 or 25 years. They pay out only if you die during the term of your insurance policy. There’s no lump sum coming on the maturity of the policy.
  • Whole-of-life policy: They will pay out whenever you die, as long as you are keeping up with the premium payments.



 How much a death cover will cost you may vary as per your level of protection. There are low as well as high premium options, so it’s a good idea to shop around. The price you pay depends on your

  • Age
  • Health
  • Lifestyle
  • Whether you’re a smoker or non-smoker
  • Length of your policy
  • The amount you want to cover


Read more:
What Are Easy Loans?

Secured Loans for Bad Credit

Secured Loans for Bad Credit

Can you get secured loans for bad credit?

Apparently, secured loans are the loans which you take keeping some security. This security or guarantee may be collateral or valuables of an individual. There are lenders in the market who can provide secured loans against bad credit too. A borrower has to have some concrete guarantee to secure against the loan. This could be a house, car, any established business or may be any establishment. As we know, there may be many reasons for a bad credit. For example, if someone has not made any financial transactions in his life, he may have a bad credit too. A lender or a bank can give loans to such bad credit holders.


How to get secured loans for bad credit?

As a process, a borrower has to apply with multiple lenders to get a no-obligation quote, know more on how much can I borrow mortgage. This quote helps him to decide on the best rate of interest. Since a borrower has a bad credit rating then the proposed rate of interest may be higher than a normal rate. A borrower fills up the loan application to get such free quotes. He has to have all the employment details and guarantor available after applying. A credit check by the lender decides the exact credit status of the borrower. But in every case, it is very much possible to get secured loans for bad credit.


Secured Loans for Bad Credit

Benefits of secured loans for bad credit:

Interestingly, there are various benefits of secured loans for bad credit. Some of them are:

  • A borrower gets a loan even if he has a bad credit rating. He does not have to sell off any property or valuables to get any loan.|
  • As a result, a lender gets an opportunity to earn by charging a high rate of interest due to bad credit rating.
  • In fact, a borrower gets a chance to improve his credit rating by paying off the loan within time.


Cons of secured loans for bad credit:

There are a few disadvantages of secured loans for bad credit. For example,

  1. A lender may seize the property kept as the guarantee if you do not pay off the loan within time.
  2. In addition, A borrower may get a disapproval for the loan in absence of the collateral for a secured loan.
  3. A borrower may get a denial for the loan because of his bad credit rating.

So, if you are looking for any secured loan and you hold a bad credit rating, you do not need to worry. You may get a loan for sure.


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Personal Contract Purchase (PCP)


Personal Contract Purchase (PCP)

personal contract purchase

Personal Contract Purchase (PCP)

Personal Contract Purchase (PCP) is a car finance in which you can hire a car from the lender or the dealer. For that, you have to make an initial deposit of 10% of the car’s value, only after making the deposit you can get the car from the dealer or lender. The rest of the car’s value you can pay by selecting a time period of 2 to 5 years. Make sure you choose a term which suits you and whose repayments you can afford. In PCP you won’t be the rightful owner of the car during your repayment period

The amount that you will have to pay monthly will be agreed upfront with the lender or the car dealer. Remember that you won’t be paying the full cost of the car like you do in hire purchase car finance. You will be paying lower payments than hire purchase if you want to hire the car and not purchase it.


Options At the End of the Contract

At the end of the personal contract purchase (PCP) agreement, you are left with 3 options from which you can select any one.

Exchange the car for a brand new model

Most people go for PCP because of this option. If you choose to exchange at the end of your contract be sure that your car is in good condition. If the condition of your car is good, the dealer will accept that instead of a deposit amount for your new car.

Return the car back

At the end of the contract, you can return your car to the dealer. When you do that the car is inspected by them to see if there’s any damage. If there is you would be needed to pay for those damages. Also, they could charge you extra if you have exceeded your mileage allowance.

Purchase the car

If you decide to purchase the car, you would be needed to make a final payment. This payment is known as a balloon payment and is decided at the time of your agreement. This amount is basically your car’s worth at the end of your contract.

personal contract purchase

How much can i borrow for a new car?


Pros and Cons of Personal Contract Purchase (PCP)


Low monthly payment – The monthly repayment is lower compared to HP as the repayment is decided on the car’s value over time and not the purchase price.

Protection from any loss in value of the car – You are guaranteed a certain amount of what your car’s worth will be at the end of your contract. If it turns out to be low, you can return the car without making any further payments.

You can change the car in every 2 to 3 years – If you want to use a different car and not settle for just one car throughout your life, PCP is the right choice for you.



Not legal owner – You don’t get to own the car until you make the final balloon payment

Mileage allowance – There is a certain mileage allowance that is provided in your contract. If you exceed the allowance you could be charged with a penalty unless you own the car at the end of your contract.


Read more:
What Is Hire Purchase?


Hire Purchase

hire purchase

Hire Purchase (HP)

Hire purchase is a type of car finance in which you can hire a car by making a small deposit and buy it at the end by making monthly payments over a period of time. The deposit that you have to pay is usually 10% of the car’s value. For, example if the car’s value is £10,000 then the deposit amount will £1000. The rest of the amount you have to pay over 2 or 3 years according to your agreement. After, making the repayments, you have to make a final payment which gives you full ownership of the car.

You can pay more deposit if you want, if you do so you will be charged with low monthly payments. So, higher the deposit amount, lower will be your monthly repayment amount. This will help you to get the ownership of the car earlier than normal.


Who Offers Hire Purchase Car Finance?

There are a number of finance companies in the UK that offer their services if you want to buy a new car or a used one. Also, the dealers themselves also provide you with hire purchase contracts.

However, it is important to shop around, as not all the lenders provide a loan for a used car. Also, the cars on which they provide a loan can be limited. So find a finance company or a dealer who provides you with an affordable deal on your dream car.

hire purchase

How Much Can I Borrow in Hire Purchase?

The most common and favourite question of everyone is “How much can I borrow to buy a car?”. This depends on the car you want to buy and your credit rating. If you have a bad credit rating the finance company can provide you with a loan. But they might take away your car if you miss your monthly repayments.


Advantages of Hire Purchase

  • Hire Purchase car finance allows you to spread the cost over years instead of paying all the money upfront. This is beneficial for people who do not have a lot of money in savings but want to purchase a car.
  • The finance company charges low interest rates on this finance, and also they are fixed and do not change during your contract term.
  • When it comes to HP, there is no mileage allowance or restrictions whatsoever. You can drive your car as much as you want without worrying about the distance you covered.
  • A hire purchase car finance has a low final settlement fee for buying the car in the end compared to the other car finance options.


Disadvantages of Hire Purchase

  • In hire purchase, if you fail to keep up with the payments, you risk losing your car. The finance company can take away your vehicle if you miss your few monthly payments.
  • The monthly repayment amount tends to be more than other forms of car finance like PCP (Personal Contract Purchase).
  • You face the risk of depreciation more than the PCP, as buying the car is optional in PCP finance. In HP car finance you have to buy the car at the end even if its value decreases.


Read more:
What Are Secured Loans?

12 Month Loan

12 Month Loan

A 12 month loan can be described as a small loan which you could borrow and pay off in a year. These loans usually run for 12 months so the name.

A 12 month loan can be used for some unexpected expense. For these expenses, you don’t have any money kept aside in your monthly budget. So if that expense needs a minor financial help you go for a small loan like a 12 month loans. This helps you to go for something that you can afford instead of long-term loans which go on for years.

For example, you can make use of a 12 month loan in situations like house repair (ceiling fixes, or new door lock installations), car servicing or repairs, kid’s project or some bills which you need to pay off. Situations like this do not require a large sum, so this small loan could be more comfortable for you.

12 month loan

How Much Can I Borrow in a 12 Month Loan?

Now you know what a 12 month loan is, but the main question which lurks in your mind is “How much can I borrow?”

In a 12 month loan, you can borrow a minimum of £200 and a maximum of £5,000. Many lenders provide an instant loan, and also with low APR. Some of them charge an APR as low as 2.97%. However, the APR differs with people and their credit score.


Can I Borrow a 12 Month Loan for Bad Credit?

Yes, you can get 12 month loans bad credit. It does not matter if you have a poor credit or no credit at all, you can get a loan. However, the APR will be high for you because of the bad credit. Lenders now also don’t look for a guarantor if they want to lend you a loan for poor credit. So, it makes easy for people who have a poor credit and no guarantor to borrow a 12 month loan.

The lenders will provide you with an amount on the basis of your credit score and how much you will be able to afford. They will see to it that you don’t get an amount of which you can’t make monthly repayments.


How Can I Apply for a 12 Month Loan?

Almost everyone is eligible for a 12 month loan in the UK. However, there are certain criteria that you need to fit in in order to borrow. The criteria are as follows;

  • You must be employed and have a source of income
  • Your age must be between 18-65
  • You must have an active UK bank account

If you fit the above criteria, you can get a 12 month loan easily. All you have to do is fill in the application form on the lender’s website. After filling in the form just click the submit button and the lender will contact you with further details.


Read more:
What Are Unsecured Loans?