debt

  • Can Bankruptcy Wipe All My Debts?

    Can Bankruptcy Wipe All My Debts?

    If you’ve found yourself in a lot of debt and are unable to pay it off, bankruptcy might seem like the best solution. There are clear negative consequences to going bankrupt – your credit score will be severely damaged and you may have to give up non-essential assets to help pay off your debts. However, in return, your debts will be wiped. 

    Well, most of your debts anyway. To read more about different types of debt and ways to overcome debt, head over to the Ultimate Guide To Money + Finance. Unfortunately, declaring bankruptcy cannot wipe all kinds of debt. This is important to consider if you’re in financial trouble – there’s no point in filing for bankruptcy if the majority of your debts aren’t going to be affected as it could just cause further financial harm. Below is information on exactly which debts are eliminated by going bankrupt.

    (more…)

  • Debt Cheat Sheet: Fast Ways To Pay Off Overdue Balances

    Debt Cheat Sheet: Fast Ways To Pay Off Overdue Balances

    The world’s total debt is more than £250 trillion, so it’s not a leap to say that you might have a few arrears that require paying. However, there are two problems – finding the money and eliminating the balances rapidly.

    It’s not a stretch for people with debts to hang on to them for a while. After all, you’d pay them off entirely if you had the resources, and if you had the earning power, you wouldn’t accrue them in the first place.

    No matter how hard you try and have tried in the past, you’ve never been able to shake your financial history. So, what’s different about these hacks?

    (more…)
  • Common Financial Mistakes People Make

    Common Financial Mistakes People Make

    Don’t think that they should teach finance lessons in school? It sure would make things much easier to manage when we become full-blown adults. Alas, that’s not how the world works. We have to figure things out on our own, or hope that our parents give us some useful information that helps us to stay on sound financial footing. Many people end up in financial difficulties — or at least not in as strong a position as they could be — all because they make some of the common financial mistakes. 

    In this blog, we’re going to look at some of these errors and take a look at what you can do to avoid them.

    (more…)
  • How To Deal With Your Money Problems

    How To Deal With Your Money Problems

    Money makes the world go around, but it also causes a lot of headaches. When you have plenty of money, life is rosy. However, when you have none it can be miserable and stressful. 

    You may be facing mounting debts or you may be concerned about protecting your assets from medicaid. Whatever the financial concerns you have, there are ways of dealing with it. 

    In this article, we’ll look at how you can deal with your money worries in a constructive way. 

    (more…)
  • Are These The Reasons Why You're Always Broke

    Are These The Reasons Why You’re Always Broke?

    Money can’t buy us true happiness, but it is obviously very useful. When we are financially stable, we can put more money into our savings, buy ourselves the nicer things in life, and share our wealth with others. 

    But if you’re always broke, your opportunities to do such things will be limited. The answer? Look at the reasons why your finances might be low and do something about them!

    So, what could these reasons be? We don’t have every answer, but here are some common examples.

    (more…)
  • Making a Fresh Start: How To Face Big Life Changes

    Making a Fresh Start: How To Face Big Life Changes

    Facing the future is something we all have to do at some point; as much as we can listen to people insisting on living for the “now”, there is only so long one can do that. While living in the moment is liberating, continuing to do it is simply living on borrowed time, and you can enjoy being free and liberated right up to the point where all the choices involved in that come back on you, and leave you with nowhere to go. (more…)

  • Why You Never Seem To Get What You Want

    Why You Never Seem To Get What You Want

    Do you ever go through life wondering whether you’re ever going to get what you want? With your thirtieth birthday in the rear-view mirror, it suddenly becomes clear that the clock is ticking, and life is shorter than you thought it was. You want to achieve your goals desperately, but you find yourself floundering about, like a bird stuck in oily water. 

    Getting what you want from life, though, isn’t a brute force activity. You don’t wake up one day, suddenly determined that this is the day everything is going to happen, and you’re going to make a change in your life. That’s not how it works. 

    Life-changing results begin with small building blocks – little changes you make today that compound over time to generate results for tomorrow. There are all sorts of areas in your life where small changes can make a big difference.

    For instance, if you spend many evenings in front of Netflix eating snacks, you can resolve to stop eating after dinner. Think about the positive impact this small change in habits could have on your life. You’re no longer spending money on junk food that’s eating into your budget. You’re not harming your body, you have more energy, and you’re sleeping better because you aren’t eating before you go to bed.

    The same applies to money and your career. While taking massive risks is something that some people do to achieve success, it isn’t the path the majority of financially secure people take. Instead, they make commitments early in their lives to be prudent and then watch the fruits of their labor compound over time. 

    Personal accountability is necessary too. Becoming successful is about surrounding yourself with people who will challenge you if you fall off the bandwagon. Ideally, you want to create a situation where the social costs of reneging on your commitments are high. 

    Powering through to get what you want, though, isn’t the whole story. While you can keep your motivation levels high for a few months, most people will inevitably struggle to stay on track for the long-haul. Eventually, our desires for pleasure in the here and now overcome the intention to construct a brighter future ten years from now. 

    Fighting that part of your psychology is the hardest part of getting what you want. Building a dream life is something that takes time – otherwise, it would be something everyone achieved. 

    Preparing yourself for sacrifice, therefore, is inevitable. You have to get comfortable with it – embrace it even. You have to figure out ways of enjoying less more. It’s tough, but if you can stick it out, the rewards will be yours. Eventually, your efforts will compound, and you’ll launch yourself to the stars.

    Success isn’t an all-or-nothing event. It is a runaway phenomenon. Things always start as a trickle. Then slowly, they become a stream and then a torrent. It doesn’t matter whether it is your investment portfolio or your piano-playing skills – small changes in your life lead to massive, outsized outcomes you could never imagine. 

    You might also like to read:

  • Future Proof Your Finances

    Future Proof Your Finances, Today!

    Managing money is tricky, not only do you need enough to live in the here and now- but it’s so worth thinking about the future too. Later in life when you’re no longer working you’ll have less money and need to find ways to make ends meet while still living the life you deserve. Here’s what you can do right now to future proof your finances.  (more…)

  • What to Do When a Loved One Owes You Money

    What to Do When a Loved One Owes You Money

    It starts off innocently enough – a family member or friend is in a tight spot and they need some money. Maybe they need to pay off some debt, or maybe they have medical bills that need to be addressed right now. Maybe it’s even something as simple as giving them a loan for school. 

    No matter the reason, loaning someone you care about money usually isn’t an issue. But, when it comes time to get that money back, things can quickly go south if you approach it the wrong way. It’s far too easy for people to become defensive, and you don’t want to risk ruining a relationship with someone you love because of dollars and cents. 

    So, whether you need to make more money and you need your loan back to get started, or you just want to recoup what you originally gave, how can you make sure you get your money back without destroying a relationship?  (more…)

  • Money Myths That Could Easily Ruin Your Finances

    Money Myths That Could Easily Ruin Your Finances

    Everyone makes mistakes, especially when personal finance is concerned. People waste money on silly things every day, from fancy coffees to new gadgets. We buy into trends, apply for huge loans, and never save for the future. Although these mistakes are mostly our own fault, sometimes bad advice has an influence. The world of personal finance is filled with old wives’ tales and falsity. With that in mind, here are a few money myths you must always ignore.  (more…)

  • 3 Tips For Managing Your Money Worries

    3 Tips For Managing Your Money Worries

    Getting ahead of your finances can be a constant battle. Sometimes you may be winning the fight, with money to spare. You may feel as though you can enjoy some lavish spending opportunities. However, at other times, your money woes could surround you and make you feel trapped. 

    You need to create a plan to keep a consistent approach to managing your money situation. At the heart of this, you should be looking at regularly reviewing your income and expenditure and finding ways to free up more spare money within this budget. 

    If you are not tracking your cash flow, unless you have a great deal of disposable cash, then you are heading towards some rocky ground. Having a plan in place should be your priority to avoid the stress that may come with not looking after your finances. 

    Create A Budget

    You need to sit down with your online banking and create a spreadsheet. Have a look at where you are spending your money each month and list it into the document. Include at the top of the list your highest priority outgoings. These may include your rent or your mortgage. If you have any loans, credit cards to repay, or regular overdraft payments, then list these too. Following these, you will need to list each of your outgoing bills, including energy, phone, and any insurance payments. 

    Once you have the fixed essentials listed, you will need to create an estimate for the variable essentials, such as your monthly food shopping, and your transportation costs. Be honest about these amounts, and don’t try and budget so low that you won’t achieve the amount that you set. 

    You then need to look at your household income. It should be higher than your combined outgoings. If it is not, then you need to do some urgent work to rectify that. 

    Taking Loans To Manage Your Life

    There may be times when you need to get a payday loan online. If you ever do take one of these out, make sure that you pay it back as quickly as possible as you will get charged a considerably high rate of interest for the convenience of the loan, which may mean you are paying back several times more than you borrowed. 

    If you have several loans or credit cards, you may want to consolidate this debt. Instead of paying multiple lots of interest, you will be paying one. You will find that your monthly payments will drop slightly too. 

    Go Through Your Bills

    There may be places that you are overpaying on your bills. Go through them all and make sure they reflect the service that you are getting. You could look at switching to a new supplier for many of your services, and you may benefit from better prices as a new customer. Don’t forget, though, that once your introductory offers have expired, you may want to start looking to switch again. 

    Regularly comparing products such as your insurance and utilities will ensure you are always going to be paying as little as possible for these. This will mean you will have a bit of extra cash to enjoy. 

    You might also like to read: