Money Goals Everyone Should Have For 2021
If you are lucky enough to win the Euro Millions jackpot, then you might need not to worry about you future finance, but if that is not the case then you must consider writing down smart Financial Goals. These Smart Financial Goals must be divided into Short Term and Long Term Goals. Why we are saying that you should write these Goals is because researchers have found that people who write down there financial Goal have 42% higher chances of achieving them. Now that you know, that you should set up Goals, one thing more that you should consider before setting up Goals for yourself is that you should only setup realistic financial Goals. May it be paying off your debts, affording a house or arranging money for your education? Let’s discuss Money Goals 2021 Automate Investing Plans: We are the most privileged human, for us, every information is available just a click away. So, if you are into investments, better automate your investments with the help of smart apps available. These apps can help you in rendering great results if used properly NutmegWealthifyWealthsimpleMoneyfarmPlumWombatFreetrade Many others can be explored as per individual requirements. Live a healthy life: As per ons.gov.uk in the year 2017, Spent on healthcare in the UK was £197.4 billion, which is equal to £2,989 spent per person, which is 3.3% more than the amount spent in the year 2016. And it has for sure increased in the consecutive years 2018, 2019 and 2020, even if we imaging the rise in expense per person increase with the same rate 3.3% every year, then now the average...Top tips to consider before applying for a loan
Finding a loan or the right lender might be an easy task but getting your loan approved can be a bit tricky. If you want to improve the chances of getting your loan application approved follow these tips to make sure that you are on the right path. Credit History: Improve your credit history by borrowing the least amount that can fulfil the purpose. Always try to make payments on time as late or missed payments can adversely impact your credit rating and the chances of getting your loan application approved. Double Check Your Details: Before sending your loan application make sure you double-check your details. Even a simple mistake such as an incorrect name, address, date of birth, employment details, phone number, marital status, dependent children, employment status & employers’ details if employed along with monthly income. In addition, your monthly bills, bank details and any other required field that might be mentioned on the form can get your loan application rejected if filled incorrectly. Credit Rating: Every traditional or online lender have a different specification about credit rating, some might have lenient requirements, while on the other hand, some might have stringent policies about offering a loan to a person who has a very good credit rating. The best idea is to check your credit rating before applying for a loan as your credit rating will give you an indication of your worth and what suitable loans and lenders are available for you. Multiple Loan Applications: There is always a digital print available for your lender to track down the number of times your loan applications have...Signs of debt trouble
For some managing a £1,000 debt, it can be troublesome. For others managing debt worth £1,000 is nothing for them to worry about. So, it’s not about the amount that defines that you have debt problems or not, it is about considering if you can repay your debt amount no matter how big or small the amount is. Below are two questions that you must ask yourself. Are you facing problems in managing your daily or monthly bills? Has your debt started impacting your life? If the answer for both is yes, then it is time for you to take the necessary steps to tackle your debt issues. Or else you could find yourself in trouble for sure. In this article we will discuss debt trouble signs that you must never ignore: Sleepless Nights: This might the first sign that you must never ignore. If you spend your night thinking of how to meet your daily/monthly expenses, then it’s the right time for you to think about how to fix this issue sooner or later as it will start impacting your life. Ignoring bank statements: Ignoring your problems is only ever a short-term solution, it will not help you in resolving your debt problems. If you are receiving bank statements that show you have more money going out than coming in then don’t ignore them and think of talking to your debt advisors to find a possible solution for them before the situation is taken out of your hands. Unable to meet essential bills: If you are short off fulfilling your basic requirements such as food, your rent and utility bills it...
Easy steps for Debt Repayment Plans
Set up a debt repayment plan if you are planning on becoming debt free. Debt repayment plans will also motivate you as you can continue to monitor your progress. One of the most important things is that by setting up a repayment plan you can start focusing on your debts one by one and you will be amazed, you will get rid of all your debt systematically and quickly. In here we will share easy steps to set up your debt repayment plan: List all your debts: List all your debts from top to bottom; these debts should include the minimum amount that you can pay for a debt, the interest rate applicable on the respective debts and the total amount of your debt. The list must include all your unsecured debts such as car loans, credit cards, home loans, personal or professional loans, this list must also include names of friends and family members if you owe any money to them. Set payment priorities: You can prioritize any debt before others, but experts say that either you should categorize your debts based on the interest rate, that is, the debts that have the highest rate of interest should be kept above in the list and others should be placed accordingly, this helps in saving the extra interest amount that you will be paying during the repayment tenure. One other option that you have is, you categorize the debts from the smallest amount to the highest amount, and this will help you in generating traction before you start repaying the big debts. Surplus money and debt repayment: There are...
