Cost of Living in the UK with a Bad Credit Score

What is the cost of living in the UK with a Bad Credit score?

Below, we talk about some of the differences between having a good credit score and a bad one. As far as the financial institutes are concerned there are only 2 levels of scoring and you’ve either got it or you haven’t.

As far as borrowing money or gaining a credit line, which will allow you to pay for something with someone else’s money, you really are at the mercy of any financial institute’s rules (unless you are lucky enough to be able to borrow from a friend or family, but let’s not go into the pitfalls of that route in this article!!!!!) if they say you have to be squeaky clean to get the best rates, then that is what you have to be.

If they consider you to be a bad credit risk, it doesn’t matter if you don’t think so, they will put you in a category that will cost you a lot more when it comes to lending.

So let’s start with….. Your Credit Scoring

A credit score is one of the factors that determines the cost of living in the UK. This construct is a marking assigned to an individual based on their credit history. a person’s individual score is based on previous loans, credit cards, savings history, etc. The impact of the score will determine the cost of credit in the future, but crucially whether an individual can actually obtain credit.

Almost all banks and lending agencies in the UK look at a person’s credit score before determining whether to lend them money or not. An individual’s credit score also determines their potential credit limit, i.e., how much they can borrow based on their past record of repayments. But what happens if your credit score is too low? How would this impact your day to day life? There are a number of key aspects of life in the UK which can be impacted by a bad credit score including, but not limited to the following:

The most important thing to note is that there is no universal credit score in the UK. Major agencies such as Experian, Equifax, Noddle, etc. assign their own ratings based on their pre-determined criteria . So, a score tends to vary on a case to case basis. Nevertheless, there is a broad category which separates a “good” credit score from a “bad” one. In broad terms, a credit score of over 720 for Experian and 380 for Equifax is considered to be good.

Anyone can achieve such a score by paying their mortgages, servicing interest payments on time, and also paying bills regularly. So, it is not too hard to achieve a “good” credit rating as long as an individual keeps their debt repayments up to date.

Are you below the line?

There are many reasons why a large number of people may have a credit score which is less than 720 (Experian) or 380 (Equifax). Such a score is classified as “bad” or “poor” by banks and credit agencies in the UK . In such cases, this score can have a major impact on an individual’s life.

Firstly, having a good credit score will ensure that an individual can be eligible for 0% financing on various products such as motor vehicles. In contrast, a bad credit score will mean the individual will not be considered a good risk for these deals.

A major impact that a bad credit score has is that an individual will need to pay higher APRs on personal loans. This is because each lender carries out a full credit analysis on prospective customers based on their credit score before approving any personal loans or advances.

For example, in the UK, an average annual percentage rate (APR) for a personal loan of £2,000 and above stands at around 7% or below . The rate goes down if the loan value is higher. However, if your credit score is poor, these rates for the same amount can shoot up to 25% or even more than that.

These figures are even higher when you consider a short term or even a payday loan (however, APR figures are high on these types of loans whether you have good or bad credit for a reason, contact us if you are interested to know why?) This shows that a vast discrepancy exists in the cost of borrowing based on credit history.

Impacting day to day

In addition to restrictions on credit and high interests, a poor credit history can lead to being denied a mobile phone contract. If a credit history is not good enough and previous borrowings have not been paid off on time, applications for a new mobile phone contract can be easily rejected .

The four major factors which lead to this situation are bad credit history, missed payments, no bank account or lack of continuity. Although there are a few mobile phone agencies which offer cheaper handsets without any credit check, such cases are extremely rare.

The only option left for phones would be the use of a a pay-as-you-go SIM card which is not a preferred choice for many. Therefore, a bad credit score may lead to an individual having to rely on sharing mobile phones with others rather than having your own handset, which can be a major disruption in day to day life.

Considering buying your own home?

Furthermore, a bad credit score can also lead to a mortgage application being rejected outright. In 2014, the UK implemented the Mortgage Market Review . Buying a new property can be a very difficult task due to the changes in the law brought in by these processes.

In effect, an individual with a poor or bad credit score is I considered to be a “risky” individual, and therefore their chances of getting a mortgage application approved become much slimmer.

Further, even if someone manages to find a lender who is willing to assist them, the APR in such cases are astronomical. Buying a new property can thus become really hard with a bad credit score and ultimately alternative options for financing a home purchase need to be found.

Buying or Leasing a Car?

A bad credit score also impacts the ability to find a good financing deal in terms of buying a new car. Across the UK, the best available rates for new car financing are around 7% per annum. However, with a bad credit score, these rates could be up to about 25% per annum . This is because the individual’s credit history will be examined by the dealer as part of the contract process.

Additionally, it has been noted that in some cases, applications to buy a new car can be rejected altogether if the credit history is not favourable. This credit history is not limited to repayment of loans but may also include other aspects such as bills, credit cards, mortgages, etc. If any of these have negatively impacted a credit score, major hurdles in buying a car can be experienced.

In Summary

What all this means is that a bad credit score can have a major impact on daily life in the UK. from obtaining a mobile phone contract to a property, buying anything becomes much harder and in most cases much more expensive as well. Living with a bad credit score could therefore complicate an individual’s life and hinder their ability to have a sustainable lifestyle. In other words, it is critical to keep your individual credit score under control.

The post Cost of Living in the UK with a Bad Credit Score appeared first on LoanPig.

source https://www.loanpig.co.uk/cost-of-living-with-a-bad-credit-score/

Free Fun and Games this Christmas!

Have fun saving money this Christmas with LoanPig

So this is Christmas. And what will you DO?!

You’ve opened the presents, eaten the food, watched enough TV to give you square eyes. And if you hear one more Christmas song you will not be responsible for the consequences!
Well how about some family games?
Here are five ideas for free fun and games this Christmas. Better still, they won’t cost you a penny.

1. Board games
Everyone loves a good board game, and between you and your family there will probably be so many to choose from. Many of the games that have stood the test of time – such as Monopoly and Trivial Pursuit – now come in a variety of themes. There are also new ones to add such as Strictly Come Dancing, The Crystal Maze and even When in Rome – the first Alexa-powered board game!
So if anyone has a new game for Christmas then now is the chance to try it out; otherwise dig out those old favourites and everyone will be happy to join in.

2. Traditional party games
Ok so these are primarily for children but most adults love joining in too! The list is endless, but how about the following for starters:
* Hide and Seek
* Musical statues
* Musical bumps
* Musical chairs
* Pass the parcel
* Pin the tail on the donkey
* Spin the Bottle
* Murder in the Dark
Google any of the above that are not familiar to you to find out how to play.

Small prizes can easily be rustled together from the vast array of Christmas stuff lying around. These games can be tremendous fun and a great bonding experience for all ages.

3. Group games
There are also a variety of more adult-oriented games that are easy to organise and great fun to play. For example, most people are familiar with charades, where the aim is to act out a TV show, film or book. A variation on this is Pictionary, where the item to be guessed is drawn out rather than acted.
But there are many more group games that are not as familiar but can be great fun. One example is Fizz Buzz. Players sit in a circle and take turns to start counting from 1 upwards. When a multiple of 5 comes up, the person must shout “Fizz” instead of the number, and the direction of the game reverses. When a multiple of 7 or a number with a 7 in it comes up, the person must shout “Buzz” instead of the number, and direction of the game reverses again. Players have 3 lives each and every time you make a mistake, you lose a life.
Other games are slightly less mentally taxing but more emotionally revealing. For example, Truth or Dare – where you either have to answer a revealing question or perform a forfeit; or Two Truths and a Lie – where everyone shares two things about them that are true and one that is a lie, and others have to guess which is which.
Some of these games – for example Truth or Dare – can be run as drinking games to add an extra twist.

4. Family Quiz
Quizzes are usually very popular, so why not run your own Christmas version? You can either download quiz questions online, or get various family members to organise one round each. They can be great fun for all the family, and a brilliant ice breaker if there are also newcomers who do not yet know many people: working together as a team helps everyone to feel involved.

5. Indoor sports
For the more energetic amongst us, there are a wide range of indoor sports that are easy to organise as long as you have a little bit of space available. Indoor darts are always popular – and there are many safe versions available with soft darts. Another option is that you can get table tennis tops for dining tables so that you can temporarily convert your dining table into a games area. Or if you have floor space then how about your own indoor version of petanque (boules)?

We hope that these ideas help you to start planning how to have the best fun ever this Christmas whilst still saving money. Happy Christmas from all of us at LoanPig!

The post Free Fun and Games this Christmas! appeared first on LoanPig.

source https://www.loanpig.co.uk/free-fun-and-games-this-christmas/

Top Ten Free Christmas Attractions

Save money  this Christmas with LoanPig.

Christmas is on its way! Our recent article Ten Tips to Get Christmas Sorted includes lots of advice about getting ready for Christmas without overspending.

But Christmas also means school holidays, and it can be really expensive taking the kids out and about on top of all the other Christmas expenses. On the other hand, you really don’t want them spending the whole two weeks sitting in front of various screens!

So here are some ideas for things you can do with the family this Christmas – for free:

 

• Winter Wonderland – London Hyde Park and UK-wide

 

Entrance to Winter Wonderland is free – though be aware that there are many attractions inside that you will have to pay for. New this year is a dedicated family entrance that takes you straight into Santa Land. It’s free to visit Santa’s Grotto to see the man himself – but do get there early as it operates on a first come first served basis. You can also visit Santa’s Toy Factory Fun House to see the elves at work – and if the children have been good they will receive a gift from Santa!

There is also a traditional German Christmas market, with over 200 chalets selling a wide range of arts, gifts, jewellery and decorations. The surrounding Bavarian Village also hosts many different cafes, restaurants and bars, enabling visitors to enjoy a wide range of festive food, accompanied by seasonal tipples such as mulled wine and hot chocolate.

There are also Winter Wonderlands in other parts of the UK including Cardiff, Manchester and Yorkshire (York Designer Outlet). Check out your nearest Winter Wonderland here.

 

• Christmas Markets and Fairs

 

Every year there are more and more Christmas markets in the UK. These have wonderful Christmassy atmospheres and plenty for everyone to see and do. Of course there will be lots of things to buy but it is still possible to go along and either spend very little : perhaps give the kids a small amount of spending money each and when it’s gone it’s gone. Or you could use the opportunity to finish off your Christmas shopping. Find out your nearest Christmas market here.

 

• Carol Services

 

Whether you prefer the majesty of a formal carol service in a large cathedral, or prefer something more relaxed and intimate in a small local church, going to a carol service is a must over Christmas. There is always something magical about spending time in a peaceful atmosphere, reflecting on the traditional Christmas story. There are often a range of different carol services, some – such as Christinge – are aimed specifically at children. Many churches also have Christmas Tree festivals on, where you can enjoy displays of Christmas trees that have been decorated in aid of charity.

 

• Carol Singing

 

If you enjoy singing carols then why not look for a local group to go carol singing with? There is likely to be group carol singing in shopping centres, and there may well be groups doing other things such as accompanying Santa on his travels or visiting different hospitals and care homes. If not, then you may want to get a few friends together and go round yourself to people you know will appreciate a bit of Christmas cheer.

 

• Local attractions and community events

 

There are always many different local events at Christmas that can be great fun and also need our support. You may have missed the local lights switch on, but look out for local Christmas fairs, markets and concerts. Different areas have different traditions. On Boxing Day in many areas you will find Mummers plays (traditional folk plays) and Morris dancers. Other areas have sporting events such as Boxing Day swims or organised walks such as the four mile pilgrimage from Ripon Cathedral to Fountains Abbey.

 

• Enjoy a Winter Walk

 

Continuing from the above, if walking is something you like to do then a lovely winter walk is a perfect way to spend a day over the Christmas season. Whether you choose open countryside, a national park or a beach you can enjoy the fresh air, the scenery and just being together. Even better, bring a flask of hot chocolate and some cake or mince pies and spend time having a Christmas treat together.

 

• Winter picnic

 

A winter picnic can be great fun. Whether you pack a hamper or find somewhere you can take a portable BBQ – or even light a campfire – everyone enjoys the novelty of a winter picnic. You may even want to organise your own winter beach party. Bring chairs to sit on and blankets to stay warm, and organise some games to keep the kids amused. This will be an experience you won’t forget!

 

• Museums and Galleries

 

If you prefer to stay indoors then why not visit a museum or gallery this winter? Most have free admission – and many have special exhibitions on at Christmas. This is a wonderful way to spend time but not money. Whether you go local or visit your nearest city, you are bound to find something of interest. Check out this list of museums to get an idea of the range of fascinating places there are to visit!

 

• Stately homes

 

There are many stately homes across the UK – for example National Trust and English Heritage. Whilst you have to pay to gain entrance to the home itself, many have gardens or surrounding areas that are free to visit but still give you a glimpse of the grandeur and history of the place. Check out the websites to find attractions near you. And if you enjoy your day then perhaps a membership card – giving you full entry to the sites – could be on your Christmas list for next year?

 

• Gardens, country parks and garden centres

 

On the theme of gardens many towns and cities have either botanical gardens or country parks, some of which are free to visit. Check out Visit England to find out what is available near you. Gardens and parks provide lots to see and usually some open space for children to explore and run around. Many also have indoor areas to explore as well. A good alternative is large garden centres that have plenty to see – and often some Christmas events and activities too.

We hope that the above ideas help you to enjoy time together as a family this Christmas without overspending. Remember to check back here soon for more money saving tips from LoanPig.

 

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source https://www.loanpig.co.uk/top-ten-free-christmas-attractions/

What if you miss Black Friday?!

Money saving tips for Christmas from LoanPig.

 

Black Friday weekend has arrived, along with all the hype that inevitably accompanies it. Our last article – Get Ready for Black Friday – contains lots of useful advice about how to ensure that you get genuine bargains and only spend money on what you need.

But what if Black Friday doesn’t work for you? Perhaps you simply don’t have money to spend until you get paid at the end of the month. Or you just can’t find what you are looking for. Can you still find bargains once it’s all over?

Well, of course the answer is yes! In fact, according to the consumer group Which? around nine out of ten Black Friday deals may turn out to be cheaper at other times of the year. They tracked the prices of 94 popular products –  including televisions, cameras and fitness trackers – from six months before until six months after Black Friday 2017. They found that 87% of the items were cheaper at other times of year than the Black Friday deal price, and nearly half were cheaper in the six months after Black Friday.

So if you don’t manage to buy what you need this Black Friday, all is not lost. Here are some other ways that you can grab a bargain in the run up to Christmas:

Supermarket Sweep

The major supermarkets will be competing fiercely against each other to get your business between now and Christmas. Remember that most of them sell not just food and drink, but gifts, clothing and electrical items too.

If you are prepared to put time and effort into researching what you want, then rotating round the various supermarkets to get the best deals, you can save a lot of money.

3 for 2 / Buy One Get One Free offers

There are also excellent deals to be had in other major retailers. For example, Boots has an impressive range of gifts in its “3 for 2” offer range. You can save pounds! For example, if you have twelve gifts to buy you would only pay for eight of them. Definitely worth a look, and many other major retailers have similar offers.

Also look out for offers where you can either Buy One Get One Free, or Buy One Get One Half Price. Even if you don’t need two of whatever the item is, if you team up with a friend and split the cost then you are both getting a bargain.

You will also often find that a free item comes with a gift that you are buying anyway; such as a soft toy with a child’s book, or an mini makeup set with a full price item. These small items can either be used for stocking fillers, Secret Santas or prizes for Christmas parties.

Vouchers and loyalty card points

At Christmas we could all do with a bit more money. Yet many of us have the equivalent of pounds lying around unused! Gather together all your unused gift vouchers, supermarket vouchers and loyalty cards and you may be surprised at how much extra money you can put together.

It has been estimated that in the UK around £300 million is wasted each year in terms of gift vouchers that don’t get used. If you really can’t use them then you can cash them in online, on websites such as Zeek.

Also,  the average person in the UK amasses over £100 worth of supermarket loyalty points each year – some as much as £500.

So get checking what hidden resources you may have at your disposal!

Second hand bargains

Online sites such as eBay can save you pounds!   In our recent article Extra Cash for Christmas we looked at how to sell on eBay and it is also a great place for buying brand new goods at good prices. If you don’t mind buying second hand you can often pick up an even better bargain on goods that are hardly used.

It is also well worth trawling round  local charity shops for all kinds of bargains. Yes it will take more time and effort to hunt around, but you might find just what you are looking for at a brilliant price – and will also have the satisfaction of knowing that you are supporting a great cause.

Christmas Sales

If you are prepared to hold your nerve and do your Christmas shopping at the last minute, then you could save a lot of money by doing this. Many stores in the UK now start their post-Christmas sales just before Christmas. Which means that many of the gifts that most of us have already bought and wrapped are considerably reduced in price.

 

This is a bit of a risky strategy, because  depending on availability you may not be able to get exactly what you want. But if you are prepared to be flexible – and to save your energy and money for a last minute blitz – this could be the way forward.

 

One final tip is that it is never too early to think about next Christmas! Yes it’s the last thing we feel like doing immediately after Christmas, but the January sales are an excellent time to stock up with Christmas cards, gifts, wrapping items and decorations. Shops just want to get rid of everything and slash the prices dramatically in order to do so. So if you do have some spare cash and a bit of storage space, why not get ahead of the game and start your Christmas shopping in January? You could then build on that by buying one or two presents a month so that by this time next year you will be pretty much sorted for Christmas 2020!

But coming back to the present! We do hope that the above tips help you to find the bargains you need just in time for Christmas. Check back here soon for more money saving tips from LoanPig.

 

The post What if you miss Black Friday?! appeared first on LoanPig.

source https://www.loanpig.co.uk/what-if-you-miss-black-friday/

Get Ready for Black Friday!

Money saving tips for Black Friday bargains

Next Friday – 23rd November – is Black Friday. In America, Black Friday is the day immediately after Thanksgiving. It marks the official start of the Christmas shopping season and there are many price reductions and special deals to be had.

The name derives from the hope that businesses participating in Black Friday will see their bank balances remain firmly “in the black” (ie in credit) for the rest of the year as a result of successful Black Friday trading.

In recent years, Black Friday has become a tradition in the UK as well. We probably all remember scenes from previous years of frantic buying – even to the extent of people fighting over televisions in supermarkets! Whilst none of us want to get immersed in Black Friday to that level, it can be a great opportunity to grab a genuine bargain.

So how can you make the most of Black Friday whilst ensuring that your own bank balance also stays in the black?

The secret is to plan ahead. This is the way that you can find real bargains and actually save money rather than spending money you don’t have on things you don’t need. Here are five tips on how to get ready for Black Friday:

1. Know what you are looking for

Whether it is a special Christmas gift for someone or something that you need for your home, decide what it is that you want. You still have time before Black Friday to do some research about the product(s) so that you know exactly what you are looking for. This is important, because otherwise you may be tempted to buy an item on Black Friday just because it is a good price, only to realise afterwards that it does not actually have all the features you wanted. So do your research and have a shortlist of makes and models of items that definitely meet your criteria.

2. Set a budget

It is easy to get carried away when faced with bargain prices. So whether you are planning to buy one item or a few, decide in advance the maximum price you are prepared to pay and ensure that you stick to that on Black Friday. If you can’t find what you are looking for at the price you can afford to pay then it is better to do without that item than land yourself in debt. So make decisions in the cold light of day about how much you are prepared to pay, and be firm about not going above that amount.

3. Black Friday landing pages

Many retailers have a special Black Friday page on their website. Some of them – such as Amazon– are starting their Black Friday sales early. So the first thing to do is to look online at retailers that are likely to stock the item(s) you are looking for – try searching for the retailer’s name followed by “Black Friday”.

There is also a website called Black Friday Salewhich has details of many of the retailers participating in Black Friday, and links to their Black Friday pages. Last year 91% of retailers participated in Black Friday so you stand a good chance of finding what you are looking for.

4. Online product bargains

Another way to find your bargain is to search for the product(s) online. So, for example, if you are looking for an iPhone XR, just type the product name followed by “Black Friday” into the search engine for specific Black Friday offers.

There are expected to be good Black Friday deals on the following popular products this year:

• Laptop
• iPhone
• Nintendo Switch
• PS4
• Phones
• TV

So do your research and be ready!

5. Don’t forget Cyber Monday

If you miss out on your ideal Black Friday bargain, be aware that many retailers are now also offering Cyber Monday deals. Cyber Monday is the Monday after Black Friday – ie Monday 26th November. The original idea behind Cyber Monday when it started in 2005 was to encourage customers to do more shopping online. Even though that has now happened, Cyber Monday discounts are still available from many online retailers. So if you don’t manage to get what you are looking for on Black Friday then Cyber Monday may work out for you.

We hope that these tips help you to find some money saving bargains on Black Friday and Cyber Monday. If you need some additional funding to secure a genuine bargain then do get in touch with us at LoanPig.

The post Get Ready for Black Friday! appeared first on LoanPig.

source https://www.loanpig.co.uk/get-ready-for-black-friday/

Extra Cash for Christmas!

Save money for Christmas with help from LoanPig

Christmas is drawing nearer, and many of us have already begun our preparations. In our recent article Ten Tips to Get Christmas Sorted we looked at various ways to cut the cost of Christmas, and also how to make some extra cash between now and Christmas.

One of the ways you can get extra cash for Christmas is to sell goods online, and one of the main websites for doing this is eBay. So in this article we’ll take a quick look at how to use eBay effectively.

1. What can you sell?

The first thing you need to do is to generate items to sell. It’s good to have a big clear out before Christmas anyway: it leaves your home less cluttered so that you have plenty of room for guests, and of course for all your lovely new Christmas presents!

So your first priority is to go through every room and find as many possible things to sell as you can. Most of us have a wide variety of unwanted items in our homes: consumer research from TNS indicates that the average home contains around £4,000 worth of unused items.

One rule of thumb when clearing out is that if something hasn’t been used for a year, do you still really need it? Also remember the much-quoted advice from William Morris:“Have nothing in your houses that you do not know to be useful, or believe to be beautiful.”

2. Will anyone buy it?

You would be surprised what sells on eBay! It really is a case of one seller’s junk being a buyer’s dream find. You will often see fierce bidding between people to secure an item that you really didn’t think would sell.

You can do a bit of research in advance to see what is currently selling well by going to explore.eBay.com. Make sure you set to country to the UK then you can see what is trending, what the best sellers are, and get an idea of prices to charge.

As a general rule, new items, well known-brands, rare items and retro items such as early versions of gadgets or previous best selling toys will all sell well.

3. Get the price right

It is hard to know what prices to charge. Your aim is to get rid of stuff, so you don’t want to set the prices too high and put people off. On the other hand you want to make as much money as you can, so don’t set the price too low.

There is an eBay app here that can help you, and eBay will also suggest a typical starting price during the listing process. But if you are new to eBay it is a good idea to find and watch other listings for items like yours. You can then see what kind of starting price they are listed at, and how much they eventually sell for.

Also remember to factor into your price the cost of any packaging materials, and the fact that you will have to pay eBay fees (see item 9 below). In light of this – and the time it takes to list and post items – there may be some smaller items that you decide are not worth selling on eBay and can perhaps use local social media selling sites instead. But for higher value items that will attract a lot of interest you can potentially make a good profit on eBay even when you take your costs into consideration.

4. Listing categories, titles and timings

Even if there are lots of potential buyers on eBay, this is no use to you unless they can find your item. So when listing goods, make sure that you are listing your item in the most suitable category. To help you with this, eBay will suggest this for you.

Also make sure that you add a comprehensive title that includes all the keywords that potential buyers are likely to use if they search for an item like yours. This will ensure that your item gets included in the “best match” list of items that eBay returns to the searcher when they type in these keywords.

When listing an item you can choose how long you want to let your auction run for, and whether you want to run it as an auction (where buyers bid for your item), a “Buy It Now” (where you can achieve an instant sale), or both.

Ebay attracts most visitors on a Sunday evening so this is a good time for your auction listings to end, as you may be able to get several buyers bidding against each other and therefore pushing the price higher.

5. Describe it well

Writing good product descriptions is really important. This is a busy time of year for people, so you need to give them the key information in an easy to read format. It is worth spending time writing a couple of standard product descriptions that you can then adapt depending on the item you are selling. Make sure the individual item descriptions include specific and detailed information about the item, especially its condition.

EBay has produced a video to help you create excellent titles and descriptions: this can be viewed here.

It can also be good to choose a consistent design style for your listings, with backgrounds and font styles/colours that convey something about you as a seller. This can also make your listings stand out from the crowd.

6. Use good photos

These days there is no excuse for using poor photos on eBay. Most of us have access to cameras on our phones that are far better quality  than a lot of everyday cameras in the early days of eBay. If an eBay listing has blurry or unclear photos it just looks as if the seller doesn’t really care, and is not a great incentive to buy.

So make sure you take good shots of your item that you can then display as part of your listing. It is good to take a variety of photos of the item from different angles, ensuring it can be clearly seen. Highlight anything of particular importance – for example a special feature of the item or a defect with it – and you can then refer to this in your listing. Also make sure you take photos against a plain background that does not overwhelm the item.

Ebay have also produced a video on how to take winning photos: you can see this here.

7. Charge fair postage costs

When selling items on eBay you need to decide whether you will post them or want them to be collected by the buyer. EBay will suggest a postage cost for an item you are selling based on the cost of posting similar items and also the type of postage service that you are using.  Depending on the value of the item you may choose a more secure form of delivery where the item is tracked and has to be signed for.

The key thing with charging for postage is to cover your costs. Don’t forget to factor in packing materials and also your time to pack and post the item. But be aware that if you charge too much for delivery on eBay, this may put off potential buyers.

Whatever you decide, the golden rule is to only post items out once payment is received and cleared, just to make sure that you don’t end up losing out.

8. Decide how you want to be paid

EBay gives sellers a variety of options to accepting payment. If you are getting buyers to collect items then you may want to deal in cash, which makes it easy all round. For electronic payments it is definitely worth setting up a PayPal account. Paypal is a third party online payment service that you can sign up to for free. It enables you to link your account to your bank account and/or debit/credit cards so that you can make and receive payments without having to share your financial information with buyers or sellers.

9. Selling costs

When selling on eBay, you will be charged fees each month by eBay for doing so. These fees are based on:

• Listing/insertion fee
• Final value fee
• Paypal fee
• Listing upgrade options eg Buy It Now, Reserve price

You can find out more information about eBay costs here, and there is also a fee calculator here that will give you an idea of the fees you are likely to have to pay for a particular value item.

10. Don’t get scammed!

A last word of advice is to be on your guard against fraud when selling on eBay.  Your increased online presence may make you more vulnerable to “phishing” emails that look as if they have come from eBay or Paypal but aim to direct you to a fake website in order to steal your login details and hack your account.

Also be very cautious if a potential buyer messages you about an item for sale, asking you to close the auction and complete the transaction outside eBay. Whilst you may see this as a way to avoid eBay fees it means that you will not be protected by eBay’s seller protection policies.

Finally, as we mentioned in point 7 above, never send out an item until you have received cleared payment for it.

We hope that the above tips help you to sell successfully on eBay and raise some extra cash for Christmas. Check back here soon for more money saving tips from LoanPig.

The post Extra Cash for Christmas! appeared first on LoanPig.

source https://www.loanpig.co.uk/extra-cash-for-christmas/

Keep warm for less this winter

Save money on heating bills this winter with money saving tips from LoanPig

So the clocks have gone back and the dark nights are here. The long hot summer now seems a distant dream, and we are all reaching for our winter coats and central heating controls.

Keeping our homes warms this winter is very important, yet many of us worry that it can also be very expensive.

So we have put together Top Five Tips to save money on heating this winter:

1. Get tricky with your thermostat

Did you know that if you turn your home thermostat down by just 1 degree this could cut your heating bills by up to 10%? Most of us would not notice the slight change in temperature but it could save you a lot of money. It is also worth installing room thermostats and boiler thermostats if you do not already have them as using these carefully can also save you money.

Though it may sound strange, it can also be more economical to keep your heating on constantly at a temperature instead of switching it on and off throughout the day. This is because your heating system will use more energy to start up the heating and get it to the required temperature than it would if it provides a constant low level of low warmth.

2. Make your heating go further

When the family is at home for a day, they generate a lot of heat! If you think about a typical day, there are likely to be showers and baths, use of the oven and hob, and perhaps any combination of dishwasher, washing machine and tumble drier. All of these generate heat, so once you have finished leave the appliance door open and the room door open and the residual warm air will contribute to the general ambient heat of your home.

3. Keep the heat in

It’s horrifying how easy it is to spend a small fortune on heating bills only to have much of that heating wasted because it’s escaping out of the house. So do make sure that you keep all your heating in. Keep doors and windows shut, and seal any sources of draught such as fireplaces, light fittings, under doors and ventilation panels. A good way to check your home for draughts in unexpected places it to light a candle and see if there is any change to the direction of the smoke from the candle.

If you do find the source of a draught you can then find a way to seal it, and may also want to consider adding some kind of insulating material. Also have a good look round the outside your home to see if there are any other potential areas where heat could escape.

It’s also a good idea to turn off bathroom and kitchen ventilation fans as soon as they have done their job to prevent them generating cold air.

4. Watch those windows

Even if you have checked your windows for draughts and they are ok, you will still notice a difference if you keep them covered when it is dark outside, as this will reduce heat loss and keep out cold air. The opposite applies during the day: keeping your windows uncovered will help to warm up your home. Even if the quality of sunlight appears to be very weak, its rays will still be strong enough to bring some additional warmth into your home.

5. Wrap up warm

Last but not least! These days we tend to look for technological solutions to every problem and have got into the habit of turning the heating on or up when we feel cold. But don’t overlook the more obvious solution of adding more layers. Either put on your favourite sweater or onesie or snuggle up in a warm blanket. In particular, make sure your feet are warm in some snug socks or slippers. Adding an extra layer or two will enable you to keep that thermostat down andsave you money this winter.

We hope that the above tips help you to keep warm and cosy this winter. Remember to check back here soon for more money saving tips from LoanPig.

The post Keep warm for less this winter appeared first on LoanPig.

source https://www.loanpig.co.uk/keep-warm-for-less-this-winter/

Does Money Make You Happy?

Manage your money with short term loan from LoanPig

Money is just like time. However much we have we just want that little bit more. But when that little bit more does happen, it is never quite enough.

Many of us dream about having lots of money. Imagine having no more money worries and being able to buy anything we want whenever we want it. What could be better?

Well funnily enough, it would appear that having a large amount of money does not necessarily make you happy. Recent research published in Nature magazine found that there is a “satiation point” at which higher incomes no longer lead to greater well-being.

The research – which was based on representative data from over 1.7 million individuals in the Gallup World Poll – found that the overall average satiation point was $85,000 (ie around £65000). It was found that for incomes above this point, there could sometimes be a decline in well-being.

Now £65000 is well above the household income for many people in the UK. But it is interesting – and encouraging – that the figure that would appear to be enough to make you happy is not significantly higher than this.

It would therefore appear that you don’t need a huge fortune to be happy. In fact we have probably all read about people who have come into a great deal of money and ended up worse off in many ways than when they started. They have either wasted all the money and have nothing left to show for it, or ended up in lots of bitter family squabbles about who gets what.

But even though we know all this makes sense, most of us really would like a bit more money. Whether it is to get out of debt, splash out on something special, or help our son or daughter get a roof over their heads, more money would definitely be welcome.

So as the season of New Year’s resolutions is gradually creeping nearer, why not resolve that 2019 will be the year you really get to grips with your finances? This time next year you may not be rich but wouldn’t it be great to feel in control of your money at last?

Why not have a read through our Seven Steps to Solvency and see if this is something that you could make work for you? If you start the preparatory work now you could get your finances off to a flying start in 2019!

1. Make friends with money

That might seem an odd way to start, but so many of us see money – or lack of it – as the enemy. We are so used to struggling to make ends meet and worrying about money that it becomes a huge obstacle in our lives.
It can really help to take a deep breath and try to see money as just one of life’s resources. Yes, it may be the case that right now there is not enough of that resource in your life, but that is something that you are now going to try and change.
So trying to develop an attitude towards money that is positive – and not fearful – can be a really good start.

2. Decide your financial goals

What do you want to achieve financially in 2019? Whether it is paying off debt, buying a home or getting some savings behind you, write down those plans so that you can start working towards them.
As part of this it is really helpful to get the full picture of where you are financially. So also make a list of all the money that you have – for example any savings, investments, gifts – and all the money you owe – for example loans, overdrafts and credit cards.
You then have all the information you need to get started.

3. Make a monthly budget

This is well worth spending time and effort doing well as it is the key to getting your finances sorted out.

You need to make a list of everything you spend each month. You can do this on paper or a computer – or may even find an App to help you. Do whatever is easiest for you and that you will be able to stick to.
Start with all your regular payments such as mortgage/rent, loan/card repayments, household bills, subscriptions etc. It is a good idea to pay these by direct debit so that they all happen when they should and also you know exactly how much money is going to be taken out of your bank account and when.
Then add to your list any essential spending, for example food and transport to work.

Also make sure you then add anything else that you regularly spend money on. Include absolutely everything so that you can get an accurate picture of exactly where your money is going.

Now make a similar list of all the money you have coming in every month – including salaries, tips, bonuses, benefits, interest on savings, any contributions from family. You need a clear overall picture of all the money at your disposal.

Preparing a budget will give you a good overview of where you stand financially. From this you should already be able to see whether you are just about ok financially or need to make some changes.
But there is more to be done! Read on …..

4. Monitor your budget

Even if your budget looks fine on paper, you may find that you are still struggling to make ends meet by the end of the month. So to make sure your budget is accurate you need to monitor your spending for at least a couple of months. This will take effort but will be well worth it.

So record everything you spend, either in a notebook or computer spreadsheet or phone app. You may well be surprised at what you find! For example, many of us spend far more on food than we would expect: we might write down one figure in our budget but find we are spending almost twice that without realising.
Recording expenditure can be a bore, but without getting a true picture of where your money is really going, you won’t be able to get on top of your finances.

5. Balance the books

Now you know where money is going you can review your budget so that it is really accurate. If you already have enough money to cover your expenditure then that’s great – and you can skip to Step 6!
If not, then the next step is to change a few things as needed, so that your expenditure fits within your income. Again, this will take time and effort but will be worth it in the end.

Firstly review every item of expenditure. Is it essential, and if so could you get it for less? This is a good time to check every bill and see if you can get a better deal: so get in touch with various suppliers such as broadband, energy companies, insurers etc to see if you can get some of your costs down. Also check all your bills to make sure you are not paying for anything you don’t need: it is so easy to keep subscriptions and memberships running for goods and services we no longer use.

If you are shocked about how much you are spending on food then have a rethink about how you can reduce your food bills. For example, planning meals in advance and either buying in bulk or shopping around for good offers can all help to cut the costs.

Also be strict with yourself about non-essential expenditure. Always be on the lookout for cheaper ways of doing things: eventually this will become your natural way of doing things.

Many people find it helpful to start using cash instead of cards. Plan how much you have to spend each week and take out that amount in cash, which you then use for all your spending. It can really bring home the value of every penny when you are using cash to buy things instead of putting them all on a card.

If you are doing all the above and are still struggling, then you also need to look at different ways of increasing your income. This could be changing your job, taking on additional work, taking a lodger or selling some household items: it really depends on your circumstances and the scale of the problem. But it is important to think positively and to remain determined to get your finances sorted.

6. Pay off debt

Many of us struggle financially from month to month because we are carrying around a lot of debt and the monthly repayments are dragging us down. So as soon as you have spare money in your budget it is important to get those debts paid off as soon as you can. Once they are paid off there will be more money available to help you live from month to month, and also to start saving.

If you have a lot of monthly payments – for example credit card payments – it may be worth considering taking out a short term loan to pay off all the balances and consolidate repayments into a single affordable monthly payment. It is important not to get further into debt, but to find the best and most reliable way of paying off your debts as soon as you can.

7. Get saving

It is so helpful to have savings – yet around 10 million households in the UK have no savings at all and a further 3.26 million households have savings of under £1,500. This means that when unexpected costs arise – such as car repairs, boiler breakdowns or family emergencies – we fall back on credit cards, running up more debt.

So as soon as you have followed the previous six steps you really do need to start saving. Put aside a little money each month – ideally into a different bank account that is not too easy to take money out of. Even if it is initially only a very small amount it means that you are starting to establish good financial habits. Your savings will gradually grow, which means that you will have money available for special treats as well as the kind of situations we have just mentioned.

We hope that our Seven Steps help you to get your finances under firm control in 2019, and that you can work towards the situation where you have enough money to make you happy.

The post Does Money Make You Happy? appeared first on LoanPig.

source https://www.loanpig.co.uk/does-money-make-you-happy/

Ten Tips to get Christmas sorted!

Money saving tips for Christmas from LoanPig.

We hate to say it but Christmas is coming! Even though it hardly seems five minutes since last Christmas, it’s already that time of year when the clocks are going back, the evenings are darker earlier, and the battle of the Christmas ads is about to begin.

Many of us dread Christmas. We don’t want to: we want to be swept along in the tide of Christmas cheer that seems to engulf all those around us. Which can make us feel very like Scrooge! The problem is money. How can we let go and enjoy ourselves when we are constantly worried about either not being able to pay for things or sliding deeper into debt?

So let’s take a deep breath and look at some ways that we can plan ahead for a Christmas that is heavenly but doesn’t cost the earth.

Here are our Ten Tips:

1. Decide now what you are doing

This is the first thing to get sorted. Within families Christmas can often lead to squabbles. For that reason we can tend to put off the awkward conversations and the decision-making until nearer the time. But this can lead to a lot of last-minute juggling and you are likely to spend more money if you are rushing around trying to sort out presents and hospitality for unexpected guests.

As well as family, perhaps rethink some of what you do when you meet up with friends. Many of us end up with a lot of different gatherings, and if these are all in pubs or restaurants it can get horribly expensive. So this year why not organise at least some of the get-togethers in people’s’ homes, with everyone contributing food and drink to the party. This will be cheaper than splashing out money you can’t really afford in pubs and restaurants – but just as much fun.

So get these kind of decisions made now so that you have time to plan accordingly and follow our remainingmoney savingtips. Then when Christmas does come round, you will be sorted and ready to have fun!

2. Plan your budget

The next big thing to do is make a budget. Many of us are scared to do this because it can be horrifying to see how much money you are really spending. But it is much better to face reality than end up in a complete financial mess in January, as it can then take you months to recover from this.

So make a list of absolutely everything that you think you will need to buy this Christmas: presents, cards, postage, decorations, food, drink, extra home supplies (bedding, towels etc) for guests, socialising, travel and anything else that you think you might need to spend. If in doubt, include it: better to over budget than not have enough.

You will then be able to see whether you have enough money to cover everything that you are currently planning to spend, or whether you need to follow some more of ourmoney savingtips below!

 

3. Stick to your budget

But before leaving the topic of budgets, make sure that once you have done your budget, you do stick to it! Budgets can look completely workable on paper, but it is all too easy to overspend and still end up in a mess without understanding why.

So you need to keep track of your budget carefully. Record details of everything you spend on Christmas, either in a notebook or on your computer or phone. You can then see if you are overspending on a particular area and then need to cut down on something else in your budget to keep within your spending limits.

4. Presents – reduce the number you give

We all love to give presents but there comes a time when you have to reconsider. Let’s be honest, there are people that get harder and harder to buy for each year, and their gifts to you are probably pretty predictable too. It is often a good idea to agree either to stop the presents or to do them in a different way. So for example if you have brothers and sisters with their own families then you could agree just to buy presents for the children from now on. For the adults perhaps you could either do a Secret Santa between you all, or each take turns to host a special event – an “unofficial Christmas” – during the year.

5. Presents – set an upper limit on price

Another consideration when buying presents, especially for children of family members, is to agree an upper price limit and then all be rigorous about sticking to it. This really helps with the budgeting and can even make it a fun challenge when you know you simply cannot spend more than what you have agreed. This is a great way tosave moneyand also avoid the embarrassment caused by exchanging gifts that have obviously cost very different amounts.

6. Presents – get the best deals

When buying presents it is so easy to get carried away and panic that your gift is not going to be good enough. So it can be really helpful to get back to basics. It’s the thought that counts, not the amount spent on it. If you are really trying to get your finances in order then be open-minded about where you get those presents. Once you have decided the kind of thing you want, then look for a really good deal – for example on an online sites such as eBay, in a charity shop or even inthe Black Friday sales in November. If you allow yourself plenty of time then you just might be able to pick up a real bargain.

7. Presents – be creative

One final thought on presents is that you can save a lot of money by being creative. Is there anything that you could make for gifts rather than buying what someone else has made? Whether you can sew or knit, make jewellery, paint pictures or bake cupcakes; there is a lot of potential for homemade gifts which are often appreciated way more than something off the shelf.

If you are really up against it financially then another idea is to offer your time instead of a gift. Simply think about what you are good at and could offer, and prepare a pretty home made voucher that commits you to provide this during the year. Whether it’s babysitting, dog walking, decorating, DIY, car maintenance or computer wizardry; giving someone a definite offer to do this can really be the best Christmas gift ever: the gift that goes on giving.

8. Cut down the cost of food

Let’s face it: we all eat far too much over Christmas. This means that we also spend too much money buying too much food, and create a lot of waste. Make this year different! It’s perfectly possible to have a wonderful Christmas with plenty to eat, but without spending a fortune.

A lot of overspending on food happens when we leave too much to the last minute then panic buy because we suddenly worry that there will not be enough food. So the key thing to do is to plan your menus carefully then just buy what you actually need.

So sit down with either some Christmas recipe books or the Internet, and plan what you are going to cook and when. Two ways to save money are firstly to try and plan dishes that use some of the same ingredients so that you can buy in bulk and save money that way. Secondly be realistic about your portion sizes. You want people to have enough but not to be left with mountains of waste. Check out websites such as Love Food, Hate Waste for guidance on portion sizes.

Once you have done your planning then start shopping. Start now! If you buy as much as you can in advance this will spread the cost and avoid last minute rushing around. It’s also a good idea to plan a time when you will do that last minute shopping so that you feel in control of it; why not put a date in the diary that you can work towards. Nearer that time check out the best supermarket deals for the things you want. Even if that means splitting your shopping between two or three different stores it will be worth it to get the best combination of money-saving deals around.

9. Cut down the cost of drink

Just as with food, most of us also spend far too much money on drink over Christmas. We feel obliged to have supplies of every kind of drink possible “just in case”. It is impossible for the average household to be as well-stocked as the local pub, so this year why not just make sure that you have a plentiful supply of the most popular drinks – eg beer, wine, cider and soft drinks – and if guests have other preferences then ask them to bring their own.

Most of us also drink far too much over the festive season so perhaps it’s time to embrace the concept of drink free days and have some days when you lay off the alcohol. Not only will this be cheaper but you will feel a lot better, and will enjoy a few drinks even more on those days when you are drinking.

10. Save more money for Christmas

Even if you follow all the above steps, Christmas can still be an expensive time. If you know that there will still be a shortfall in your Christmas budget then you still have time to rescue the situation.

One way is to try and find some extra work over the next few weeks. There are many seasonal opportunities in shops, bars and hotels that you may be able to fit in around existing commitments. Yes it will be tough, but it’s only for a few weeks. Or you could see if there are things you can do on an ad hoc basis such as babysitting, pet sitting, odd jobs etc.

It’s also a good time of year to have a good clear out of your home; to declutter before Christmas. This may reveal items that you no longer need, and can sell on eBay or perhaps have a car boot stall. There may be someone out there looking for the very thing that you are trying to get rid of.

Finally, you may want consider taking out a small loan to help you through Christmas. It is better to borrow money on a planned basis, with a clear timescale for paying it back, than end up drowning in uncontrolled credit card debt. At LoanPig we offer a range of short term loans that could be just what you are looking for. Loans that you can repay in affordable instalments over a time period that works with your budget. Click here to find out more about this possibility.

Whatever your plans for Christmas 2018, we hope that our Ten Tips help you to manage your money more effectively – andsave moneywherever possible – so that you can really enjoy Christmas this year.

Check back here soon for more money saving tips from LoanPig.

The post Ten Tips to get Christmas sorted! appeared first on LoanPig.

source https://www.loanpig.co.uk/ten-tips-to-get-christmas-sorted/

The Difference Between Good And Bad Debt

Sort out your debts with a  short term loan from LoanPig.

Household debt in the UK is worse than at any time on record. According to The Office for National Statistics, British households spent around £900 more on average than they received in income last year. The overall shortfall amounted to nearly £25 billion, and most people are paying for this overspend with borrowed money, though some households are also taking money from savings.

So if you are struggling with debt you can take some comfort from the fact that you are not alone. But it is also time to take action before your situation gets worse.

But let’s first take a look at what debt actually is.

There are two main types of debt: secured and unsecured. Secured debts are usually tied to an asset. For example a mortgage is a loan that is secured on a property, which means that the lender can repossess that property if the borrower falls behind on their repayments.

Unsecured debt is not tied to any asset. An example is a credit card. Interest rates tend to be much higher on unsecured debts because the lender has no asset to repossess in the event of repayments not being made. The lender would, however, impose additional charges if repayments are not made – and may resort to court action if the situation continues.

There is a general understanding that you can have good debt and bad debt. In one sense, all debt is bad. But a mortgage is generally classed as good debt because you are using it to acquire an asset; so in that sense it is an investment. Whereas uncontrolled and unsecured debts such as credit cards are seen as bad because they can spiral out of control very quickly and lead to the situation where you are unable to pay them back.

So let’s look at some guidelines for good and bad debt, and some practical ways to deal with bad debt.

You could regard debt as being good if:

• It is a carefully considered decision with a specific aim rather than impulse overspending
• It will help you to improve your circumstances longer term; for example to buy a home or car, or fund an educational or business opportunity
• You have researched options and are confident that you are getting a good deal
• You are confident that you will be able to repay the loan
• Your credit score is stable enough to withstand the process of applying for a loan.

But before taking on any kind of debt it is really important to commit to keeping up with the repayments. If possible try and repay the debt earlier than planned, as you will then save money on the interest you would otherwise have been charged.

If by reading this article you realise that you are in bad debt – the sort that keeps you awake at night – then you need to take action.

If you have a lot of repayments every month at high rates of interest and they are overwhelming you, one solution could be to take another loan at a better rate of interest and over a longer repayment period. You could pay off all your existing debts and end up with just one affordable monthly repayment which may help to get things back on track again.

There are some loan companies – such as LoanPig – who will consider lending to you even if you have a poor credit rating. We take every application on its merit rather than just on credit scores. Whilst no responsible lender will encourage you to take on more debt than you can afford to repay, sometimes the best thing can be to wipe the slate clean of your existing debts and concentrate on paying off just one new loan.

If you do this then it is essential not to slide any further into debt. Aim to borrow as little as you can and repay it as regularly and as quickly as possible.

If you would like to find out more about how LoanPigcould help you to sort out your finances then why not get in touch with us today? We offer a range of short term loansthat may be just what you need to help you through. You can contact us onlineor email us at info@loanpig.co.uk.

 

The post The Difference Between Good And Bad Debt appeared first on LoanPig.

source https://www.loanpig.co.uk/the-difference-between-good-and-bad-debt/

Break away this autumn.

Time for a holiday with an online loan from LoanPig

Well it’s certainly beginning to feel like autumn! Back to School is almost forgotten as families everywhere are firmly back in the daily grind. Despite the sunshine there’s a crispness in the air, and the evenings are getting dark again.

For many families it’s now basically the countdown to Christmas – with a few autumnal events like half term, Halloween and Bonfire Night to break things up a bit.

But if you do not have children at home, this is your golden hour!

Now is a brilliant time to get away on a break. Wouldn’t it be great to get a bit more lovely sunshine before autumn really settles in? And the really good thing is that now the kids are back at school, there is a much greater choice of availability and holiday destinations are much quieter than during school holidays. Even better, you are likely to be able to snap up a real bargain.

So where do you start looking for that ideal autumn break? We suggest three ways:

Your local travel agent

It is always a good idea to visit a travel agent if you are open about where to go on holiday. They will have information on a huge range of destinations that you may never have heard of, and will be able to recommend the best combinations of travel and resorts.

Many agents have special deals and offers that may not be available online; and at this time of year they will be particularly keen to get your business so may be able to use their contacts to secure you a real bargain. Also don’t be afraid to negotiate: there may be room for manoeuvre in the initial price you are offered if they are desperate for your business.

So even if you don’t end up booking your holiday through an agent it is definitely worth using them as a starting point to get ideas about potential destinations and comparative prices.

Online

There are so many websites out there that it can be difficult to know where to start. Simply enter something along the lines of “last minute bargain holiday” into Google and millions of results will come up. How do you narrow them down?

If you did start off with a travel agent, this is where you will be glad that you did a bit of research first. You can narrow down your search for the destinations and types of holiday that are of interest to you and this should return more relevant results.

All the major travel companies have their own sites, and there are also various other sites that can compare deals for you from a number of different suppliers. Some of the more well-known websites of this type are:

• Trip Advisor
• Expedia
• Last Minute
• Travel Zoo
• Travel Supermarket

 

There are also several lesser known websites around that may have just the holiday you are looking for. If you are prepared to look at something a bit less mainstream then take a look at:

 

• HolidayPirates
• Secret Escapes
• Jacks Flight Club
• Travel Republic

 

With all the above, you are likely to get a better deal if you can be a little flexible about your arrival and departure dates. So for example if you aim for a ten day holiday anywhere within a two week window and can travel at very short notice you could snatch a bargain. So make sure that you are packed and ready to go – and have travel documentation at the ready – in case this does happen.

Word of mouth

As with any other area of life, it really does pay to ask around. If you mention to friends and family that you are planning a holiday you may find out about a destination or resort that is highly recommended but you had not thought of. You may even find that someone has contacts in the travel business, or with a holiday home to rent out. Anything could happen! It can be so annoying to find out afterwards that there was some amazing opportunity just waiting to be grabbed – so do put feelers out with people you know and see what happens!

We hope that the above ideas help you to find your ideal holiday and that you come back all fired up for autumn and winter. If you need some financial help to make this holiday happen, then LoanPig may well be able to help. We offer a range of short termonline loansthat may be just what you need, so do get in touch with us and you could be on that beach before you know it!

 

The post Break away this autumn. appeared first on LoanPig.

source https://www.loanpig.co.uk/1782-2/

Oops I did it again! Financial recovery from school holidays

Rescue your finances with a short term loan from LoanPig. 

Summer is over, the kids are back at school, and before we know it Christmas will be here!!

But in amongst all the busyness of everyday life there is one small problem: money. Or, to be more accurate, lack of it.

Let’s be honest, most of us will have overspent during the summer. Despite all our good intentions everything always seems to cost more than we planned, not to mention all those unexpected visits, outings and long sunny sessions in the pub.

If that describes you then you need some kind of financial recovery plan to sort out your finances before things get any worse. We reckon there are Six Steps that you need to take to do this:

1. Be clear about your financial goals

You need to decide what you want in terms of your finances, and then grit your teeth to do whatever it takes to get to that point. Whether it’s to clear your credit card debts, save for a house, buy a newer car or travel the world – decide what you really want and then find the determination to make that happen.

You need to commit to financial recovery otherwise when things get tough you are likely to give up and go back to your old ways. There are long standing habits that you need to break, and it will take effort to do this. You need to realise that from the start and be prepared to see it through. But it is possible and you can do it!

2. Get an overview of your financial situation

It can be scary to sit down and really work out your financial situation but until you do this nothing will change. So the first thing to do is make a list of everything to do with your money. You need to include:

• Sources of regular income eg salaries, benefits, pensions, rent (eg if you have a lodger)
• Savings and investments eg bank or building society, ISAs, shares
• Debits eg loans, overdrafts and credit cards

At this stage look particularly closely at your debts vs your savings. If you have some savings available it is usually  better to pay off some of your debts. With many credit cards you will find that your monthly payments may just be paying off the interest and the actual amount of debt is not decreasing at all – particularly if you keep spending on that card. But if you can pay in a larger amount of money this will then reduce the actual balance of the card and reduce the amount of interest you owe.

If you do not have any money available to reduce your debt then you need to consider other ways of paying off that debt and we will look at that below.

3. Create a monthly budget

We’d all love to wave a magic wand and get out of the financial mess that we’re in but unfortunately  life is rarely like that. The only real way to get yourself sorted out is to create a realistic monthly budget then work hard to stick to it.

To make a budget, first of all make a list of everything you spend each month. Start with all the regular payments that you have to make such as mortgage or rent, loan or credit card repayments, household bills, subscriptions etc. The best way to handle these is to set up monthly direct debit payments from your bank. You will then know exactly how much is going to be taken out of your bank account and when.

Once you have accounted for these you then need to add on other essential spending such as food and transport to work. Then take a deep breath and add on all those other things that you regularly spend money on. Include everything –  going out, hobbies, clothes, hairdresser etc. Be honest so that you can get a real picture of where your money is going.

Then make a list of all the money you have coming in every month from all the sources you identified in Step 2 above. Anything that brings in money – no matter how small – should be included.

4. Test and tweak your budget

So you now have on paper or computer what you think your budget looks like. But it is also important to test it out. So as well as making a budget it is essential to put in the effort to check whether it is accurate. For the first month or two it is important to record all your actual expenditure to see how realistic or otherwise your budget actually is.

You may be horrified to find that your expenditure on food or clothes is much higher than you estimated it was. But at least you will then know where every penny is going and will be able to tweak your budget accordingly.

You should now be in a position to know whether you are managing financially or are struggling – and if the latter, where you need to cut down.

If you have a little money left over at the end of the month then use that to pay off your debts more quickly, and also try to save a bit of money for either treats or emergencies. But if your budget clearly shows that you have less money coming in than needs to go out you need to take further action to make things work.

5. Balance the books

Ok so now you have a budget and you know whether or not you can realistically stay within it. If not, you have a problem. Particularly if you have raked up some extra debt over summer. It is tempting at this point to bury your head in the sand and hope it all goes away but it won’t. You need to do something to pull yourself round.

Put simply, you have a choice of either increasing your income or reducing your expenditure. Or preferably both. A few ways to start doing this are:

Increasing income

• Change jobs
• Take on extra work as well as your job
• Turn an artistic hobby (music/painting/crafts) into a money-maker
• Downsize your home
• Take in a lodger
• Sell things that you no longer need

Reducing expenditure

• Check your budget and get rid of anything that is not strictly essential
• Look around for new suppliers of energy, insurance, phone contracts etc for better deals
• Find cheaper ways of doing everything, for example:

– socialising at home instead of going out

– buying second hand goods from eBay and charity shops

– trading skills with friends and family instead of paying others to do jobs for you

Some of the above are not easy choices to make, and some will take time and effort to do, but it will be worth it if it will enable you to get your finances back under control and then keep them that way.

As part of your financial overhaul you may also want to consider taking out ashort term loan which you can use to pay off all your existing debts. This could enable you to have just one affordable monthly payment rather than lots of different ones that are spiralling out of control.

Whilst you do not want to pay debt by getting into more debt, a loan could be a good short term solution just to get you back on track. But then make sure you do not increase your debt any further: it may even be worth giving your credit cards to someone else to look after until you get yourself sorted, so that you are not tempted to start overspending again.

6. Start saving

Many people do not have any savings. Recent data shows that one in ten UK adults have no savings at all, one in eight adults have no cash savings, and one in three only have savings of between £1 and £1,999.

When you are struggling to get by month after month, the idea of having savings seems like an elusive dream. But it is important to have them and it is possible to start saving, whatever your situation.

Savings are important because they mean that you are prepared for any kind of emergency that may come your way, rather than having to get into more debt when something unexpected happens. Also, once your finances are calming down a bit, having savings means that you can treat yourself to something nice.

So as of now, start saving some money into a different bank account each month. The ideal savings account is one that is not too easy to take money out of, but that you can get to in an emergency. Even if you are only able to put in a few pounds a month, start doing it now.

One good way to save is to set yourself mini targets every day and put away a tiny bit of money when you either make or break them. For example you may want to have a naughty jar that you put say 20p in every time you swear or eat a sweet or have a drink or do anything else that you are trying not to do.

Or turn this round to be a positive thing – that you pay yourself something when you achieve a goal, such as going for a run or mowing the grass or cleaning the house. Anything that works for you and starts you putting money to one side is great. At the end of the month you will be amazed at how much you’ve managed to put away without even noticing, and you can then put that money straight into your savings account.

We hope that these six steps help you to recover from summer and keep your finances under control from now on. Remember if you need help with a short term loan then do get in touch with us at LoanPig.

The post Oops I did it again! Financial recovery from school holidays appeared first on LoanPig.

source https://www.loanpig.co.uk/oops-i-did-it-again-financial-recovery-from-school-holidays/

Back to School – Money Saving Lunchbox Ideas.

How to give your kids a healthy lunch whilst still saving money. 

So we’re all now back to school, and many of the good intentions are already starting to fly out of the window! One of these is probably the dreaded school lunchbox.

It can be really difficult to think of interesting things to put into your child’s lunchbox every day. After a few days back at school the inspiration dries up and you run out of ideas.

It’s at this stage that you also remember how expensive it can be to stock up a lunchbox – especially if you are putting in extra items such as snack bars, chocolate or crisps.

The dilemma is that you want your child to have a good and healthy lunch, something that they will enjoy eating but that also is not too expensive.

So to help you, we’ve put together a list of some ideas to try. Items that your child will hopefully enjoy, that are quick and easy to prepare, and that don’t cost the earth.

 

Sandwiches

 

This is probably stating the obvious but they are usually popular. Just don’t fall into the trap of making the same thing every day: both you and your child will get bored and they will probably end up not eating them. Some ideas for fillings with a difference are:

• Tuna and mayonnaise
• Cheese and salad
• Lettuce and cream cheese
• Roasted veggies and feta cheese
• Corned beef and pickle
• Ham and coleslaw
• Banana and honey
• Jam and cream cheese
• Hummus, lettuce, tomato

The idea is to be as creative as possible and experiment. Why not get your child involved and make the sandwiches the night before? To save money, try to use leftovers for sandwich fillings, and items in your fridge that need using up. Double decker sandwiches also tend to go down well and make a bit of a change.

Salads

Many children turn their nose up at the thought of salad, but you can change this by making salads with a difference. Again, they are a great way of using up leftovers and bits and pieces that are lying around the fridge.

Pasta salad usually works: either use the remains of last night’s pasta dish or mix some cooked pasta with combinations like tuna, sweetcorn and mayonnaise or ham, tomato and mayonnaise.

 

 

Chicken

If your child likes chicken then there is a lot you can do for their lunchbox. This can be economical if you tie it in with whatever the family is eating the night before. So if you are cooking chicken thighs or drumsticks for the family meal then do one or two extra for the lunchbox. You can then add a bit of salad dressing and either some coleslaw or perhaps tomato and cucumber.

Chicken tenders or nuggets also work well. Put in a sachet or small pot of their favourite dip and they will be loving that lunch!

 

 

Pies, rolls and quiches

If you like to bake then either a slice of quiche, a small pie or homemade sausage or cheese and onion roll is a great addition to the lunchbox. Vary the changes and use up whatever is in your fridge.

Team the savoury item with a bit of salad and you have a winner!

 

 

Crudités

This is a great way to use up spare vegetables whilst also making your child’s lunchbox colourful and fun. Simply slice up a variety of crunchy vegetables such as cucumber, celery, peppers and carrots, and team them with a small pot of hummus. You can buy multipacks of small pots of hummus from most supermarkets or it is very easy to make your own.

 

 

Vegetable or fruit kebabs

Another way to give a bit of colour to the lunchbox is to make kebabs from vegetables or fruit. Your child will enjoy eating the small items on the kebab and will be getting a varied diet at the same time. Try some of the following combinations:

• Salad kebab: cherry tomato, cucumber, pepper, carrot, celery, radish, spring onion
• Cooked veg kebab: mushroom, courgette, pepper, shallot, beans, broccoli
• Fruit kebab: strawberry, pineapple, melon, grape, kiwi fruit

 

 

Mix and match to your heart’s content: remember the idea is not to go out and buy lots of things specially, but to use up what you already have and save money in the process.

Snacks and puddings

Children love those little extras in their lunchbox, but this is where both the sugar content and the cost can mount up horribly fast. So it’s best to ration these items out as much as possible. Instead of crisps and chocolate why not try some of the following:

• Small pot of yoghurt or fromage frais
• Dried fruit
• Cheese and crackers or mini bread sticks
• Small homemade muffin or cupcake
• Homemade cheese straws or parmesan crisps
• Grapes

 

 

 

Drinks

Adding a carton of juice to a lunchbox can bump up the cost; and in terms of sugar may not be the best choice for your child. Encourage them to drink lots of water during the day and for lunch why not provide a small flask or chill bottle of weak squash: more interesting than water but excellent for hydration.

 

We hope that these ideas help you to prepare a healthy lunchbox for your child without spending a fortune in the process. Remember to check back here soon for more  money saving ideas from Loan Pig. 

The post Back to School – Money Saving Lunchbox Ideas. appeared first on LoanPig.

source https://www.loanpig.co.uk/back-to-school-money-saving-lunchbox-ideas/

Kids Go Free!

Great money saving family days out…

And breathe! School holidays are over and life will now gradually begin to get back to normal. Whether you are a working parent who has had to juggle childcare during the holidays, or have been at home with the children for all or part of the time there is a sense of relief that you have all survived the summer!

But many of us have a few regrets as well. Particularly with the wonderful weather we have had this summer we would have liked to have been able to do more with the children and get out and about as a family more often. The problem is the cost!

A day out sounds great, but once you add up the cost of travel and admission to anything you are going to – not to mention food and drink – the bill can easily run into three figures even without any little extras on top. Most of us simply can’t afford to do that even once during the summer, let alone regularly throughout the holidays.

So we’ve been having a look around and come up with the following list of things that you can do with the kids for free. Yes free! Many of the ideas and attractions are available across the country so we hope that you can find things of interest near you, saving money on travelling costs.

Half term will soon be here: so next time you feel like having a family day out why not try one of these?

 

• London Museums

 

If you live within easy travelling distance of London there is lots for you to do. There are many famous museums and galleries that you can visit, including The Science Museum, Natural History Museum, British Museum, Victoria and Albert Museum and the Tate Modern. Also a number of smaller, less-well known museums which you can check out here. Enough to keep everyone happy for hours!

 

• The National Railway Museum York

 

Not to be outdone, the National Railway Museum in York is a wonderful attraction and is also free. An absolute must for train lovers! As well as a fantastic collection of trains – including Queen Victoria’s railway carriage, Mallard – once the fastest steam train in the world – there is a model railway, outdoor play area and train-ride simulator. For more details check out their website  National Railway Museum, York. There is also a sister site in Shildon – County Durham – which has a Stirling Single from 1870 and also family train rides.

 

• Stately homes

 

The UK has a wide variety of stately homes including country houses, castles and palaces. Whilst you do normally have to pay admission to the buildings, many sites have gardens that are free to enter. These often have activity areas where children can play, some have extra features such as a maze. Check out organisations such as The National Trust and English Heritage to find what is available near you.

 

• City farms

 

Many cities have farms and community gardens that are free to visit, though you are welcome to make a donation to their work. Many city farms provide opportunities for children to pet or feed the animals. Check out  The Federation of City Farms and Community Gardens to find farms, community gardens, and other green spaces near to you. There are many opportunities to visit farms and gardens and also to volunteer to help – or even get involved in setting up your own farm!

 

• Animal sanctuaries

 

Staying on the animal theme, there are also lots of animal activities outside city areas. For example there are many donkey sanctuaries around the country such as The Donkey Sanctuary Sidmouth in Devon. If your children prefer something smaller try animal sanctuaries such as Buttercup Goat Sanctuary in Kent or The Owl Sanctuary in Ebbw Vale. There are also many working farms in the UK that welcome visitors and offer the opportunity to help with the animals, such as Occombe Farm in Devon.

 

• National Science and Media Museum, Bradford

 

This exciting free museum aims to explore the science and culture of image and sound technologies and their impact on our lives. Its overall mission is to inspire the scientists and engineers of the future to see more, hear more, think more and do more. The museum features galleries, exhibition spaces, learning activities and three cinema screens. Find out more at https://www.scienceandmediamuseum.org.uk/

 

• Get on TV!

 

A great idea for TV fans is to hunt down some free audience tickets. You can apply to be part of TV show audience via various websites including BBC, Applause Store and SRO Audiences. You need to check the age limits for your chosen show to make sure that under 18’s are allowed, but tickets will be free and you could all have a great time.

 

• National Museum of Scotland

 

The National Museum of Scotland is one of the Top 10 UK visitor attractions, and in the Top 20 of the most visited museums and galleries in the world. It contains over 20,000 fascinating artefacts that will take you on an inspirational journey through the history of Scotland, the wonders of nature, world cultures and the excitement of science and discovery. The museum is always running special events: at the moment these include Rip It Up – a history of Scottish pop music – and Science Saturdays. For more information check out their website https://www.nms.ac.uk/national-museum-of-scotland/

 

• Geocaching

 

Geocaching is rapidly growing in popularity and is great fun for all the family. Think of it as a real-life treasure hunt! You can geocache anywhere in the world: all you need is the Geocaching app and/or a GPS device. You then use one or both of these to navigate to cleverly hidden containers called geocaches. There are millions of geocaches in 190 countries waiting to be discovered. Anyone can create and hide a geocache as long as it is in a durable and waterproof container and clearly labelled as a geocache. The GPS coordinates are then registered on a geocaching website such as https://www.geocaching.com so that other geocachers can use them to look for the item. Geocaches should include a logbook for finders to add names and comments, and some interesting and fun items. Examples include coins, small toys, keyrings, guitar picks, gift cards or costume jewellery. You can take items from the geocache but it is also good to put something back in as well.

 

• Festivals, fairs and markets

 

In the UK there are special events going on all year round. Through spring and summer – and even into October – many towns and villages have their own events and festivals. Some may be arts-related – music,  dance, comedy, drama or literature – others may focus on food and drink. As autumn turns into winter many places have Christmas markets or craft fairs. All these events provide the opportunity for a great day out and you don’t have to spend anything if you don’t want to: though Christmas markets can be a fun and economical way of doing your Christmas shopping whilst also supporting independent local businesses.

So even though summer is drawing to a close, there are still many things that you can look forward to as a family this autumn without breaking the bank. We hope that you can enjoy a few of the above ideas whilst still saving money.

Remember to check back here soon for more financial help and advice from LoanPig.

 

The post Kids Go Free! appeared first on LoanPig.

source https://www.loanpig.co.uk/kids-go-free/