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Pay Debts Blog
Want to get out of debt, consolidate your debt, get a better loan or just learn some top money and debt rescue tips? We have financial advice here that will help you achieve your dream of being debt free. Absorb all the info on blog and join our site for articles and tips Consolidate Debts LoansPermanent link: Stressed and in debt? Consolidate loans debts
Stressed and in debt? Consolidate loans debts
Stress busting tips for when debt is getting you down. These are some top tips for dealing with any kind of stress: Get plenty of sleep if you can but don't resort to sleeping pills. Try to keep your sleep routine as regular as possible Take a break from your worries This is really important; you should give yourself plenty of short breaks mental breaks. Day dream, immerse yourself in a bubble bath, read the paper etc. Eat regularly and properly Make sure your diet includes plenty of fruit and vegetables. Drink juice or water; avoid too much tea or coffee. Get some exercise It's a fantastic and free stress buster. Go running, swim, cycle, play a sport, or just take a walk around the block. You will feel more relaxed. If you don't sleep very well because of all your worries, exercise can make a real difference. Be positive Don't beat yourself up about things, be kind to yourself, you will get through this. Make a quick list of all the things you've achieved and done well and are proud of. This will put you in a good mood. Remember, all the problems you have now are temporary and have a solution! Talk it out. Don't be a hero or a martyr! The strong silent types can be dying inside. Talk to a friend, a family member or a counselor. Keeping it all in just makes you baggage heavier to carry! So open up to someone, you will feel better. Breathe deeply. Tell yourself how well you are doing. Remind yourself that everything is going to turn out alright. Stand up straight and smile, you will feel a bit better straight away. Technorati Tags: Stressed and in debtPosted by Admin at 2008-11-19 15:53, Post Link
Permanent link: Why you need a pension - Consolidate debts loans
Why you need a pension - Consolidate debts loans
What is a pension? A pension is a source of regular money to live on in your retirement. It comes from the benefits of a type of savings account called a pension scheme. It is one of the most tax - efficient ways to save money.If you are self employed - you would be wise to look in to taking out a personal pension schem right away! (You can get tax relief on what you pay in) Why are pensions important? Everyone needs money to live on when they retire, but few people think enough about long-term savings and with many of us living longer, we will have more time that we need cash for in able to enjoy ourselves. The chances are that, unless you are extremly rich, you will need a pension to keep you. The Uk is facing a pensions crisis, with an ageing population and very few of that population have given this subject much thought or attention, you can bet things will get tough in the years to come, with state benefit being slashed to cope with demands on ressources. I don't care if you are only 18, the time to start thinking about a pension is now! Technorati Tags: What is a pension?Posted by Admin at 2008-11-19 15:53, Post Link
Permanent link: Giving tax free to charity - Consolidate debt loans
Giving tax free to charity - Consolidate debt loans
Gift Aid If you pay tax in the UK, then Gift Aid is a simple way to increase the value of your gift to a charity at the tax mans expense, not your own. Making your donation using Gift Aid will enable the charity to reclaim the basic rate tax on your gift to them. This means that if you give £10 to charity using Gift Aid in the tax year 2005-06, that gift is worth £12.82 to the charity. You can make payments by cash, cheque, postal order, direct debit, standing order, debit or credit card or even in a foreign currency (including the euro). Subject to a few rules, you can give any amount, large or small, regular or one - off and the charity can reclaim the tax. Makcing whatever you can afford to give your chosen charity, go that little bit further. If you are a higher rate taxpayer, you can claim relief on the difference between the basic rate and higher rate of tax. If you do not pay tax, you cannot use Gift Aid. How does my gift qualify for Gift Aid? Your chosen charity will normally ask you to consider making your donation using Gift Aid. They will give you a simple form to complete declaring that you wish to make donations under Gift Aid.They should be able to supply any forms that you need. The charity can only reclaim the basic rate of tax if you have paid enough tax for the tax year to cover the amount reclaimed on your gifts. The tax year runs from 6 April one year to 5 April the next. This can be a lovely ay to ensure that you are doing your bit for your favourite charity, so do consider it. There are many, many worthwhile causes out there who could benefit enormously from you just filling in a couple of easy forms. Technorati Tags: Charity gift aid explainedPosted by Admin at 2008-11-19 15:52, Post Link
Permanent link: What is Taxable income? Consolidate debt loans
What is Taxable income? Consolidate debt loans
What counts as "taxable income"? Taxable income includes: earnings from employment earnings from self - employment most pensions income (State, company and personal pensions) interest on most savings - ISA'S and similar may be exempt income from shares (dividends) Inheritance over a certain level rental income income paid to you from any sort of trust trust What is not taxable income. Charity Gift Aid Blind Persons Allowance Some benefits-please reasearch specific benefits to you. Ensure you don't pay tax on anything that you shouldn't. Technorati Tags: What is Taxable income?Posted by Admin at 2008-11-19 15:52, Post Link
Permanent link: What is an ISA or PEP?
What is an ISA or PEP?
Individual Savings Accounts (ISA) is a form of tax efficient shelter or "wrapper" that replaced Personal Equity Plans (PEPs) and Tax Exempt Special Savings Accounts (TESSAs) in April 1999. Both PEPs and TESSAs remain in force but no new subscriptions can be made to PEPs. You can no longer purchase a PEP. What are CAT Standards? The government has introduced some standards for ISAs to help investors choose their investments. CAT stands for Cost, Access and Terms. There is no requirement for every ISA to meet the standards. Meeting the standards is not an indication that a particular investment will be good or bad, but simply that it has a certain level of charges and access, and a low minimum investment. The stocks and shares component of the CAT standards has been devised more with managed funds and tracker funds rather than self select ISAs in mind. CAT Standards are: NOT a Government endorsement of a product-so don't be fooled NOT a guarantee of anything at all NOT an indication of a superior product - a CAT Standard product may do better or worse than a non - CAT Standard product - do your research! NOT necessarily an indication of good investment performance - many of the best performing and most popular funds may not be to CAT Standard, again check it out NOT a specific recommendation that a product is right for you-consult a financial advisor NOT a substitute for advice from a qualified adviser Can I open a joint ISA or as an Investment Club? No, an ISA can only be opened on an individual basis, see below There is currently a personal limit/allowance of investing £7,000 per year, per individual only in ISA'S. Who is eligible for an ISA? Only individual persons are eligible provided they are 18 years of age or older and a UK resident (excluding the Channel Islands and the Isle of Man) for tax purposes. You cannot hold an ISA jointly with, or on behalf of, anyone else. For example, you cannot open an ISA with your spouse. They can be a good option for those who want to save and not pay tax on their savings! Technorati Tags: What is an ISA/PEP?Posted by Admin at 2008-11-19 15:51, Post Link
Permanent link: Lottery or premium bonds - Consolidate debt loans
Lottery or premium bonds - Consolidate debt loans
Should you risk a few pounds a week on the lottery or premium bonds? The chances of winning the top prize with a any single £1 premium bond are 24,500,000,000 - 1 (that's 24.5 billion), but as the minimum £100 holding provides 100 chances, this cuts the odds to 245 million - 1. However, NS&I says the chances of winning any prize with a single £1 bond are 24,000 - 1. You can compare the odds to the National Lottery. In that, you have more chance of winning the lottery each week where your £1 stake gives you a one-in-14 million chance. But, unlike the lottery, you do not lose your stake if you do not win. You simply go into the next monthly Premium Bond draw. Improving winning chances The only sure way to increase your chances of a prize are to buy more bonds. It is calculated that with the maximum £30,000 investment and by the law of averages you should win 15 prizes a year. However, note that phrase "law of aver edges". There is no guarantee you'll win anything. Prizes are based on a rate of return, typically around 1% or 2% lower than the base rate. However, the best - paying deposit accounts tend to offer far better gross rates of interest. For example, the lottery uses 6/49 Lottery has 6 numbers drawn from a total of 49 balls with the numbers 1 through 49 on them. The probability here is 1 in 13,983,816 of actually winning a big payout! So don't ask me to calculate how many tickets you would need to buy to try to insure this! I'm sure that as long as you can afford it, you spend a £1 on a lotto ticket, or buy a £10 premium bond there is no harm in it, if you view it as for entertainment only. However, if you have been spending,£5-10 a week, which is £20-40 per month and you x that by 12 to get a yearly total etc. Now work out how much you would of gotten by placing this in a high interest account or growth policy? Then think about compound interest... wow! Well if you did this instead, you may even feel like a lottery winner in a few years once your account matures with its lump sum and bonuses! You will at least be guaranteed end up with "An amount" not just a useless void lottery ticket. Technorati Tags: lottery visus premium bondsPosted by Admin at 2008-11-19 15:51, Post Link
Permanent link: Debt Tips
Debt Tips
If you find yourself in debt and are having difficulty managing it, tell the people you owe this fact sooner rather than later Find the best possible deal before taking out any loan/debt consolidation loans or mortgage. The longer you borrow for, the more in interest charges you will end up paying but... the cheaper it will be in the meantime. Some lenders may offer a loan and then defer payment for the first three months. Remember that you will still be paying interest on the amount of money you will borrow - no such thing as a free lunch - sorry! If you pay back a loan early, some lenders charge an early redemption fee. Find out before you borrow if there are any penalties if it is repaid early, if there are try to negotiate these down or find a lender that doesn't charge them at all. If you are experiencing debt problems, contact your local Citizens Advice Bureau who can offer help to reduce what you owe to creditors and in some cases - get the interest frozen Beware of lenders who knock on your door offering small easy to have or even instant loans. These people are not heaven sent they are known as "Loan Sharks" you could easily be paying back huge sums of interest to these loan sharks. Never sign for a loan without reading the small print. Most importantly, be very careful that they are a genuine legal company that won't "Send the boys round" if you don't pay! Never hand over your passport, pension book or benefits book or details - not ever! If you are going to consolidate all your loans and debts into one bigger loan, make sure it is the only one you take out. That way you can manage the one loan and not have to worry about further debts. Shop around and find the best deal for you. Debt consolidation of your loans may be a good option for you-so check it out. Technorati Tags: Avoid loan sharksPosted by Admin at 2008-11-19 15:50, Post Link
Permanent link: Want a safe home for your money? Consolidate debts loans
Want a safe home for your money? Consolidate debts loans
National savings and investments Because National Savings and Investments is backed by HM Treasury, you can rest assured that any money you invest with them is 100% secure. They may not be promising you the sexy possible high return of some high risk investment schemes but you will get a good return and they are safe and secure. Your savings needs/wants: Tax-free investments Guaranteed returns High potential returns To save regularly To save for a rainy day To invest for a child A monthly income If any of the above, are things that you want or need from your savings plans, they could be right for you! So check them out before you rush out and look elsewhere. Technorati Tags: National savings and investmentsPosted by Admin at 2008-11-19 15:50, Post Link
Permanent link: Low cost energy saving ideas
Low cost energy saving ideas
Is your money just going up in smoke or blowing out the door? Here are some cheap tips that could save you £££ Fill gaps under skirting boards and between floorboards with newspaper, papier mache or mastic sealant. COST: Around £5 - £10 SAVING: Around £10 - £20 Fit a good insulating jacket to your hot water tank if it does not have sprayed foam on the outside. Some councils will provide this for you free - ask! COST: Around £5 - £10 SAVING: Around £10 - £15 Put aluminium foil behind any radiators fitted to outside walls. Ordinary kitchen foil will do, or you can buy specially designed panels from DIY stores. This will help them to reflect the heat in to the room. COST: Up to £10 SAVING: Around £5 - £10 Fit energy saving light bulbs (CFLs) in areas where lights are left on for long periods of time, or in difficult to reach places. They use about a quarter of the electricity and last eight times longer. Look for CFLs with a European "A" Rating on the box; these have electronic ballasts and are guaranteed to be efficient with a long life. Unfortunately CFLs cannot normally be used with dimmer switches or electronic timers. I am hopeful that eventually they will address this issue soon COST: Around £4 - £10 SAVING: Around £5 Fit thermostatic radiator valves (TRVs) to stop you heating rooms you are not using. COST: Around £45 - £60 SAVING: Around £10 - £20 If you have a water meter fitted in your home - Take an ordinary house brick and CAREFLLY PLACE IT IN THE CISTERN. Ensuring that: it is not touching or restricting anything vital. You will use a bit less water then each and every time you flush. It will not affect hygiene in any way and could save you a whopping £40 per year! Now with those extra pennies you have saved... You can reduce or speed along payment of your debt consolidation loan. Technorati Tags: cheap energy saving tipsPosted by Admin at 2008-11-19 15:49, Post Link
Permanent link: Does the Tax Man Owe YOU?
Does the Tax Man Owe YOU?
You may normally quake at the thought of the tax man, but for once it may be to your benefit to do so! Could they actually owe you money? They may do if you satisfy one of the following criteria: You have not worked full tax year You have children and are on a low income Your earning during tax year were less than the tax free threshold (£4745) You have been taxed on the wrong tax code You work in the construction industry on the CIS scheme You are Self Employed. You can find out all the facts and figure yourself by studying the Tax Office web site and requesting information. There are also companies out there who will do this for you for a small fee. Some will even take a look on a no refund-no fee basis. Technorati Tags: Does the Tax Man Owe YOU?Posted by Admin at 2008-11-19 15:49, Post Link
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