The average Joe has many hurdles to overcome in today’s world, many of which take the form of money matters.
Here we look at some of the key financial concerns which need addressing and how you can leap over these hurdles with confidence and accuracy.
Neither a borrower nor a lender be…
Over recent years, the lending criteria established by the big banks have been severely tightened. The scoring system which ascertains the level of risk an individual poses as a borrower has become increasingly stricter, making it ever more difficult for many people to be accepted for a loan.
If your loan applications have been declined in the past then you’re not in the minority. For those with good credit scores and a high level of collateral, borrowing money at the lowest interest rates is relatively straightforward and successful. For those with bad credit the situation can be much more difficult.
Thankfully, bad credit loans are designed specifically for those with less than impeccable credit scores. Specialist providers provide loans to a variety of individuals in a wealth of different financial circumstances.
Anyone can apply for a bad credit loan. However, age, employment status and income will always be taken into account prior to application acceptance. The minimum requirements for this type of loan are that applicants are in employment, over the age of 18 and a resident of the UK.
It’s also possible for people on certain qualifying benefits to gain access to a loan.
An apple a day…
The cost of day-to-day living can be a big headache for the average Brit and that is why savings strategies need to be put in place. Alongside contributing to savings pots regularly, you also need to think of ways in which you can manage your daily budget. Looking for costs which can be reduced or eliminated altogether is the first port of call as is seeking cheaper alternatives and setting a realistic daily budget to stick to.
Shopping around when renewing various financial policies – including insurance policies – is also vital and can help you make the most of your money.
A change is as good as a rest…
Similar to the above, there are numerous larger costs which families have to deal with. Despite economic difficulty, we all want to maintain the same quality of life we’ve always enjoyed and this means refusing to sacrifice on treats such as holidays.
Rather than giving these vital breaks up, we are instead finding ways to make them fit in with new budgetary restrictions. Our top guide to funding your holiday the alternative way has more information on this.