Pennysaverblog – Page 143 – Smart Finance and Money Saving Tips

Buy Euros At The Best Rates & Use Prepaid Cards

Holidaymakers venturing to Europe in the near future are able to buy their Euros now to ensure they can take advantage of favourable rates.

Buying your currency while the exchange rates are in your favour is a great idea, especially now that you don’t need to carry all of your cash around, but instead you can use prepaid cards that are widely accepted throughout Europe.

Prepaid cards are an alternative to the old traveler’s cheques but they come with many more perks. Not only does it give you access to your money without having to carry your cash around, once loaded they can be used in bars, shops and restaurants as well as cash points.

The pound is very strong against the Euro as of late, almost reaching the same level as it was in early March, the strongest the pound has been against the Euro in the last seven years. This means that “The continent now offers really good value for money for British holidaymakers,” says Bob Atkinson from TravelSupermarket.

June 23, 2015

General

Must-Follow Financial Advice For When You Turn 40

When you turn forty, it’s the beginning of a new life. You are probably halfway through your career, and may have children to think about and plan for. Which is why it is so important to make yourself aware of where all of your money is going.

You should have some savings and pension plans in place already, but don’t worry too much if you haven’t. There’s still plenty of time – although the sooner you get started, the better. Let’s take a look at your primary financial concerns that you need to consider when you hit forty.

Pay Off Your Bad Debts

No matter how brilliant your investments and savings are performing, if you haven’t paid off your bad debts, they will cost you more money. Why? Because invariably, bad debts have high-interest rates, and these are likely to be far higher than any interest you are making on your savings. Make sure that all bad debts are cleared before you hit forty, and you will still have enough time to make your savings work better for you.

June 22, 2015

Debt

What You Need To Know About Variable Home Loans

Variable loans are one of the most common types of mortgage loans offered today. The variable home loans are not like fixed loans. If you opt for variable loans, the rate of interest on your loans will vary with the market index. Thus, with these loans, you have the opportunity of paying lower rates when the market rates go down. However, you have to be prepared to pay higher rates of interest when the rates goes up. These loans add a lot of flexibility to the deal. You do have the option of paying lower introductory rates and additional payments. If you want you can pay off extra as an advance towards the loan.

What’s the difference between fixed and variable home loans?

If you are applying for a mortgage loan you should consider the differences between choosing the fixed and variable home loans. With the fixed loans you are not required to worry about the increase in rates. The rates on the loan taken by you will be locked for the entire loan tenure. It makes budgeting way easier since you are completely sure of what you are repaying. However, one of the biggest problems of fixed home loans is that you are not able to make the most of the lower rates of interest in accordance with a rate drop. Another important factor to note is that you are often not allowed to make additional payments with a fixed rate without a fee or without limitations. As already mentioned above, variable home loans allow you to make extra payments without paying a fee, as well as without limitations. As well, if you are fortunate enough to see a drop in market rates during your own loan tenure you can save up a lot of money in interest.

June 15, 2015

Debt

Five Common Mistakes Most People Make When Applying For Loans

According to the latest statistics of the World Bank, the economic status of the Philippines has a mixed record. On one hand, there has been an overall increase in life expectancy, Gross National Income, per capita income, and IBRD/IDA operations approved over the years. But, there has been a gradual decrease in the overall level of statistical capacity, annual GDP growth, and current account balance. The World Bank also states that the economy of the Philippines is the 39th largest in the world, which is quite an impressive number and in recent years, it has emerged as a market in both the import and export domains.

With a fast-developing market, the cost of living has also increased. Because of this, making loan in the Philippines is very difficult. Whether you are a small business owner or private individual seeking to build a house or buy a car, you will definitely seek major loan at least once in your life. However, applying for a loan isn’t that easy. It takes a lot of comparison, calculation, and pooling up of resources to get it written on paper. It also does not ensure that your loan will be fault free. Therefore, for the benefit of the progressive Filipino, I have listed the top 5 mistakes people made in taking out a loan and some guidelines on how to avoid them.

June 3, 2015

Debt

4 Ways To Clear Your Debt Quicker

If you don’t deal with your debts quickly and efficiently, it’s easy for them to get out of your control. Here’s how to clear your debts as quickly as possible.

1. Get Independent Advice

When you’re in debt, it can be hard to know where to turn. It seems like there’s nobody out there to help you when you need help most. But that’s not necessarily true. There are people to turn to, but some of them will charge you for it. Those are the companies you should stay away from.

Fee-paying debt management companies might seem like a good prospect when you’re desperate. But spending money on their services will make your situation worse. Instead, you should find free debt advice. There are lots of non-profit organizations out there that will help you out.

June 1, 2015

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