Are Coupons Worth It, And Will They Save You Money?

The current financial climate has meant that scrimping and saving on everything has become a must. Saving money is harder these days, but can coupons help? Or do they lull you into purchasing more or make you spend out on items you don’t need, just because there is money off. 3 for 2 is great, or buy 2 for £1.20, but sometimes when these items are only £1.17 each the saving is minimal, if anything at all, and in the case of food, it can get wasted. So not all of these savings are worth it.

Reducing the cost of your food bill each week can seem impossible, however coupons do help and if you are loyal to a particular supermarket, then this can pay off. It is plausible to turn pence into pounds when saving with coupons, you just need to be savvy about it. As time goes on all of those savings will add up.

Organisation is key, keep all of your coupons in one place, I use a clip on the fridge, then they are always there as a reminder when I next go shopping. Most big superstores give away in-house magazines, these often contain special offers and vouchers, so they are always worth a flick through.

The web is a great resource for downloading tokens and vouchers, by joining Facebook groups and signing up for newsletters and emails from your favourite brands, money saving has never been easier as loyalty is always rewarded.

Sensible spending is an approach that all of us at PiggyBank are in favour of. We are a payday loan direct lender,  and our service is designed to offer responsible lending to those who are in need of short-term loans and able to pay back within fixed and agreed repayment terms.

Common Money Issues for Young People in Rented Accommodation

Thinking about renting your first home can seem overwhelming and exciting. Planning is essential, creating a budget is important, enjoying the move should be savoured. Here are a few ideas to consider when thinking about the costs both obvious and hidden.

  1. Be aware of all of the costs; what you need to pay up front and anything that you may incur. It will help you prepare for anything unexpected before you move. So make a coherent plan of everything you need and set a budget for it.
  2. Deposits for your new dwelling will need to be included as well as any reference fees if using an agency.
  3. Living independently means furniture; this includes all white goods such as a fridge, freezer, cooker and washing machine. If you have family buying any of these for you, then great, otherwise see if anyone can help with their second-hand unwanted items. Searching on gum tree, Freecycle and eBay are also useful places to start. Some rental properties will include white goods so checking this out beforehand is really important and will stop any overspend on any unessential items, leaving your budget lighter.
  4. If you need to buy furniture, then begin a savings plan as soon as possible. Charity shops, and flea markets often sell a plethora of goodies that will give your new pad its individual lift.
  5. Think about planning for all of your monthly bills, Council Tax, Gas, Electric, Water, TV License and insurance all need to be part of the essential monthly budget, alongside rent and food.
  6. Price comparison sites can be very useful when searching for the top providers of gas and electricity.

Top Tips to Manage Your Money

  1. Keeping a note of your weekly expenditure is a great way of helping to understand your money and where it goes. After a couple of weeks you will be able to see the ‘leakage’. It’s like turning on a tap, sometimes it feels impossible to walk out of the front door and not spend a bean. The amount of takeaway coffees and extra snacks all add up, and it’s these that can be filtered out if you are trying to reign in the purse strings. Write down everything, including toiletries, train tickets, your bus pass to work, everything. It will help set a realistic budget
  2. Understanding the difference between what is necessary and what is a luxury will make you consider what you really need. If there is an essential to purchase, then extract those extra lattes for a few weeks.
  3. Save where possible, find a bank with a decent interest rate and put some money by each month if possible, having a financial safety net can take the strain out of unavoidable bills such as an MOT for the car or a big birthday.
  4. Bargain hunt, use discount vouchers, collect bonus points on loyalty cards and cut out any money off vouchers from magazines and newspapers. Over the course of a year you would have saved a fair amount of money, even if that’s what you use to afford yourself and your family that extra holiday treat. It’s worth watching and learning to love your money.

Short Term Loans – Who Can Apply?

News stories about borrowing and the debate about short term loans have dominated the press over the last year. The government’s borrowing was put under the microscope in the recent election, and in common with our rulers we all need to borrow in an emergency.

Use a Short Term Loan Responsibly

This type of borrowing is ideal if you have a poor credit history and need access to funds. Also known as a “bad credit loan“, these loans can be taken out quickly and repaid flexibly within days or months. Banks have tightened up their lending criteria, and many people can only turn to a short-term lender when they need financial help.

New conditions, introduced this year by the Financial Conduct Authority (FCA) mean that you will have to be able to prove that you can repay a loan by presenting an example of your income and expenditure to the loan company. You must also be able to demonstrate that you are in employment.

The rules were introduced to stop reckless borrowing and to ensure that the rising levels of personal debt in the UK don’t climb any higher. A recent article in The Guardian highlighted the fact that personal debt in the UK was set to rise to £10,000 by 2016.

Only Borrow if You Have to

Unexpected expenses occur throughout life. A new pair of shoes for your child, a broken window at home or even emergency car repairs all cost money. If you don’t have the cash to hand, or your credit card is maxed out, then a short-term loan is often the only solution. Just ensure that you don’t take out a loan for a frivolous reason, that you later regret.

PiggyBank short term loan repayments are flexible and simple, you can repay early without charge and can choose from a range of repayment options to suit you.

Budgeting for Christmas

Taking positive action to keep away that dreaded January credit card bill that will inevitably be overladen with Christmas goodies, is creeping up quicker than we would like. Here are a few top tips to help plan ahead.

  1. Think about what you want to spend by planning ahead, work out what you can realistically afford without getting into debt. Now is the time to purchase presents in the sales or look for cheaper alternatives and early bird deals.
  2. Once you have worked out your budget, stick to it. Don’t let last minute panic, spiral out of control, it’s all in the planning.
  3. Larger families should consider the option of Secret Santa, everyone’s names goes into a hat and each person chooses one person to buy a present for. It works with colleagues in the office so why not try the same thing at home. If a budget is set then it can ensure one lovely present and not lots of throw away plastic junk.
  4. It’s become increasingly popular to make your own presents, now is the perfect time to think about what everyone likes and tailor goodies to suit. Homemade jams and confectionary make wonderful gifts, get your kids to design and, make the labels for something that is inherently individual.
  5. Same goes for Christmas decorations, get everyone involved.
  6. If you are lucky enough to be going away for Christmas then consider booking transport sooner rather than later. Train, coach and bus tickets can all be purchased online and collected on the day at your destination, normally with the card that you used to purchase them with, so don’t forget that!

Sensible spending is an approach that all of us at PiggyBank are in favour of. We are a payday loan direct lender,  and our service is designed to offer responsible lending to those who are in need of short-term loans and able to pay back within fixed and agreed repayment terms.

Keep Your Home Warm in Winter Without Breaking the Bank

It’s not just the harshness of the winter months that can take its toll on you but the reality of the increase in our energy bills can be a shocker to the wallet. Bad weather automatically leads to higher costs on heating your home so here are a few ideas that could help keep the costs down and the temperature up.

  1. Prepare your home for the winter months. Make it more energy efficient by plugging up any air leaks. Heat loss through air leaks can account for an extra 10-20% on your heating bills. So don’t throw it out of the window. Applying insulated film over windows could be a solution for any leakages. It’s an inexpensive way of containing the heat in your home.
  2. Turn the thermostat down a bit and put on a jumper instead. Thicker duvets at night time will keep you toasty. Homes that are unbearably hot in winter also contribute to the mutation of germs, keeping your home a little cooler could also help keep the winter bugs at bay.
  3. Heat is wasted in rooms that are not used that often. Make sure that the rooms you use frequently are warm by closing the doors to the ones you use less.
  4. Seal the attic, this is a massive source of energy loss, check that your attic is properly insulated and that what covers the entrance is secure and sealed. This will help maintain the heat within your home, rather than losing it out of the roof top.

For a payday loan or a short term loan, contact us for more information.

Going on Holiday Without a Credit Card: a Short Term Lender can Help

Holidays are expensive. You save up all year, buy your new clothes and sort out the travel insurance; suddenly you don’t have enough money for any emergencies or adventures.

Holiday Pay doesn’t Stretch Very Far

Even if you’ve held down a job for many years, you’ll soon find that holiday pay doesn’t go very far. Targeting short-term loan companies as a solution may be an option. Before you go on your holiday work out your budget. Only ever consider taking out a short-term loan if you can afford to repay the sum – and the incurred interest – on what you’ve borrowed.

Always Read the Small Print

Under regulations introduced by the Financial Conduct Authority (FCA) all short-term lenders have to publish their terms and conditions on their websites. This means that you, the borrower, will be aware of the sum you can afford, the repayment date and any additional fees. As long as you are in employment and have created a realistic budget, you’ll know whether you can afford to take out a loan or not.

You will find security in the knowledge that should something go wrong on your holiday, and you don’t have access to any other means of credit, a short-term lender could provide a solution. Any loan should only ever be taken out if other funds aren’t forthcoming. Borrowing from a short-term lender in an emergency on your holiday could give you peace of mind.

Financial New Year’s Resolutions

We all know what it feels like in January when we are broke and exhausted after Christmas. Too much money has been spent on food, drink and plastic rubbish to fill the kid’s stockings. So rather than waiting for January 1st, think about changing those habits could financially impact you for the better, now.

  1. Prepare for Christmas NOW. Money Saving Expert states that Christmas can cost a family approximately £650. By spreading this cost, it will impact on your January blues. Buy wrapping paper and cards now.
  2. Putting aside £50 a month now is easier than spending the whole of your December pay packet.
  3. Research getting cash back from any loans, credit cards or PPI. If you do not have the time to do this yourself then there are plenty of companies that offer a no win no fee policy. They take a higher percentage but it will save your time and could potentially put money back into your bank account that you would never have had.
  4. Keep a simple diary of what you spend as a financial health check. If you are spending more than you earn, then it’s time to turn it around and look at repaying debt so you are not paying out high charges or late fees and fines. Look at your expenditure over the course of the month and see where you could reduce your outgoings.
  5. Look at changing your bank account, some banks offer cash back on transfers or a cash incentive to move to them.

The Benefits of a Payday Loan

Poor credit ratings are a plague for many people, temporary work contracts, the recession and the rise of living costs have all had a massive impact on how people live and how they pay for the basic requirements of life.

A poor credit rating means that many high street lenders will not offer loans or overdrafts to those who have lack of credit history or people with a poor credit score. Companies that offer payday loans will generally look at fewer factors when assessing an application. They will concentrate more on the income of the applicant and their ability to pay it back within a reasonable time, rather than their current assets and credit history. However most pay day loan companies will not accept you if you have had a CCJ in the last 12 months, have been declared bankrupt, have no bank account or are on a debt management programme.

Missing, even one payment can be detrimental to your credit score long and short term, so payday loans have become increasingly popular to cover monthly costs. They are a great way for people to cover everyday expenses that occur earlier in the month before the pay check comes in. It’s a way of spreading the monthly costs of living without reengaging on the bills. Therefore payday loans can be a great option for individuals with a poor credit history, the interest is usually higher but the terms offer more flexibility.

School Holiday Entertainment on a Budget

With the school holidays approaching fast, the need for entertaining your family on a budget becomes a necessity. Here are some top tips for keeping those little ones happy in the holidays, whatever the weather.

  1. Get them in the kitchen– teach your children about taste as well as have fun, there are many simple yet delicious recipes that are available from kids cookbooks or by simply looking up on line.
  2. Lets go fly a kite– Most toy shop sell cheap kites and this will certainly brighten up a windy day and have them away from the TV and console!
  3. Write a story– get everyone to use their imaginations and write a story with your children. Discuss their favourite fairy-tale and why and use this as a starting point for a group story, each person then writes a paragraph and once the last person is finished you can read the whole of the story to your family group.
  4. Treasure hunt– come up with a host of items for your children and their friends to find. Give them clues as to where each one is and then let them embark on their very own treasure hunt.
  5. Gardening- growing your own fruit and vegetables is great fun, this works for window boxes as well as larger gardens. All you need is soil, pots and seeds or bedding plants and they can watch them grow over the holidays.
  6. Visit a museum or gallery– many of these are now free or subsidised so discovering the history of the area within which you live or are visiting can be fascinating.
  7. Map making- draw squares on a big sheet of paper and get your children to make a map of their local area, see how much they can do themselves, it’s a great way of seeing how they perceive where they live.

For more information on long term lending contact today.