Browsing Tag

money

Free Money? Yes, really…

Posted on 26th June 2015 in children/ debt/ family/ money

Screen Shot 2015-06-26 at 18.41.14Free money! Yes, literally and yes, really… I have been using KidStart when I buy things on the internet – M&S, Amazon, Sainsburys, Expedia, Mothercare, Boden, Disney, Boots, Wickes, Debenhams, for tickets, furniture, clothes, hotels, trips, gifts, shopping, clothing, comparision sites etc etc etc. So long as I click through to the site via KidStart then they pay me a percentage straight into a bank account for one of the boys.

It is literally that simple, you just need to remember to go via the KidStart website first. At Christmas and holiday times you can receive quite a lot of FREE money – it makes it kinda rude not to :)

Take a look for yourself

Panic On The Streets Of London! Well, £10 Notes Shaped Into Dogs Anyway.

Posted on 31st March 2015 in money

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In an amazing feat of generosity and sensational marketing, @BeagleStreet have released the hounds with their #ReleaseThePounds publicity stunt.

What more reason could you need to visit London this Easter?

According to the Telegraph: A total of 500 tenners have been released in different locations across London as part of a stunt by online life insurance provider Beagle Street

“Hopefully our £10 note Beagles will put a smile on people’s faces and pounds back into their pockets,” said Matthew Gledhill, the company’s managing director. 

More of the £10 note origami canines will be released in other cities around the UK in the next few weeks. 

Let’s hope they don’t all blow away.

People have already started finding them and sharing the news, will you be next?

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Peer to Peer lending – brilliant or insane?

Posted on 15th June 2012 in money

I’m quite fascinated with the emergence of Peer-to-Peer lending.

Excuse my ignorance if I am wrong but isn’t this essentially how banking started out in the first place?

Ok, I’ll admit I got that information from Deadwood, but moving swiftly on the overall premiss as I understand it is that instead of saving your pennies at your local bank or building society, you invest it in one of the (currently) three companies Zopa, Rate Setter and Funding Circle offering peer-to-peer lending and they then loan it out in very small increments in order to offset your risk. So if you invest say £5000 they might spread that across 500 different loans to protect your investment as much as possible and the interest rate is higher than you can currently get from the banks. Plus, at the moment, you even get to choose what rates you would like to set!  Here is the BBC’s take on it.

Personally, while I do think it is a lovely idea, I wouldn’t want to take the risk as the investments are not regulated and the investments are all made at your own risk. Therefore there are no guarantees that you would be able to get your money back! I do think that a lot of people will make a lot of money from this but I also think that at some point (possibly as less scrupulous companies get involved) it will go horribly wrong and people will lose their investments.

What do you think? Would you invest in one?

Take Control Of Your Finances #MoneyMonday

Posted on 30th January 2012 in #MoneyMonday/ debt/ finances/ money

As January draws to a close, I keep hearing people say that they are struggling financially. For some it is the age old problem of over spending at Christmas, for others it is simply because they are finding it hard to make ends meet.

I’ve had lots of experience of budgeting for various reasons and want to share with you a series of posts (all tagged #MoneyMonday) which I hope may help you regain control of your finances.

So what qualifies me to give advice on this subject?

If you’ve read A is for… And then he left me you will recall that my ex husband left me quite hideously in debt. This was in 2004 which was just before the bankruptcy laws changed – I have to say if it happened to me now, rather than then, I would given serious thought to going bankrupt. Even in 2004 (when the after affects of bankruptcy were much harsher) every debt advisor I spoke to told me to file for bankruptcy.

I wont go back over the details on this post regarding the circumstances, they’ve already been posted here.

Below is a list of the debts I was left with (along with the figure I paid to each lender to clear the debt in full):

Negative equity £12,000 – (settled at £4,600)
Bank overdraft £1,555.54 – (settled at £1,150)
Business overdraft £1,840.69 – (settled at £921)
Bank overdraft £974 – (settled at £750)
Credit card £2,292.35 – (settled at £1,375.41)
Store card £2,635 – (settled at £2,355)
Store card £1,435 – (settled at £910)
Credit card £879 – (settled at £425)
Credit card £1,529 – (settled at £1,100)
Business loan £5,000 – (settled at £2,000)
Bank overdraft £1,841 – (settled at £1,400)
Bank Loan £1,428.71 – (settled at £800)
Store card £893 – (settled at £715)
Credit card £932 – (settled at £800)
Personal loan £781.20 – (settled at £781.20)

As you can see, even with just the debts that I can remember, I was left with £36,016.49 of debt outstanding which cost me £20,082.61 to pay off. I’m pretty sure the total amount I spent paying off debts was closer to £28K so there must be a few that I’ve missed. It took me 6 years – the last debt was cleared in February 2010.

My ex took one debt, an Abbey National current account overdraft of around £700. This was in joint names but he made me sign the account over to him so that he still had a bank account – this, of course, left me without one and with a completely ruined credit rating which meant that I couldn’t get one. For several years I had to use a building society passbook account and had no cards of any kind. Now you can get bank accounts specifically designed for people with bad credit that help you build your credit rating back up.

My divorce Solicitor told me that I wouldn’t be able to assign any of the debts over to my ex. She advised me to go bankrupt. The CAB helped me set up a payment schedule – paying £1 a month to each company and advised me to go bankrupt. The CCCS agreed with the CAB.

I didn’t answer my home phone for several years unless I was expecting a call, as most of the time it was a debt company chasing money, I still find it hard to answer it now. Some companies are ok to deal with – some are terrifying.

I will go over these points in more details over the next few weeks, not necessarily in this order:

1. Don’t ignore your debts. They truly don’t go away they just get bigger and more unmanageable.

2. Get a copy of your credit file – this is a huge step towards taking control, yes it will probably tell you things that you don’t want to know, but do you know what? The debts are there whether you acknowledge them or not! You can get one month’s free trial from Experian.

3. Take control. Get an A4 ring folder and some dividers and make a file for each debt, then make an appointment to see a debt adviser. A FREE one like the CCCS. DO NOT PAY ANYONE TO ‘SORT OUT’ YOUR DEBTS! Either phone them or write to them asap. Tell them you are experiencing financial difficulties. Tell them your income and your outgoings – make sure you include everything that you have to pay out for. They will help you.

4. Dealing with people chasing debt.

5. Debt ‘selling’ – it may looks as though different companies are chasing you for the same debt; that’s because they are!

6. If you have some money to repay a debt, always offer a reduced settlement figure – 99% of the time they will either accept it or negotiate.

7. Managing your budget.

8. Start saving!

I am very happy to try and help if you have any queries that you think I may be able to answer – just let me know on the comments section below and I will reply to you.


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