Financial Helper

Your Personal Financial Guide

Our Guide to Creating a Budget

By

It’s no secret that the majority of people hate budgeting – and we can see why! Who wants to spend an hour of their free time mulling over their finances? Unfortunately it is vitally important in order to keep your finances in order and keep some control over your spending.

Creating a budget will not only give you an idea of where your money goes but also allows you to plan your future and even highlight where you could save money by reducing wasteful purchases. Here’s our guide on how to create a monthly budget, including some money saving tips:

Gather as much financial data as possible

This includes three or four of your most recent bank statements, utility bills, investment accounts and any other documentation showing income and outgoings. The aim of this is to take a monthly average- so the more months’ worth of documentation you have the more accurate representation you will get.Continue Reading

Financial Benefits of Leasing a Car for Your Small Business

By

As a small business owner, you know that every penny saved goes toward increasing your bottom line. Unfortunately, everywhere you turn you are making large payments and this is consistently chipping away at the profits you could be making. At the moment, you are in need of a new vehicle for your business but are not able to justify the expense. Have you considered the financial benefits of leasing a car for your small business? You can even lease a Jaguar for the prestige it brings at a cost that really does make good business sense.

Reclaiming VAT

One of the main reasons so many small business owners don’t invest in vehicles is the VAT they end up paying, which is 20% of the cost of a new vehicle. Sadly, this tax is due whether you buy or lease a new or used car. Therefore, if you purchase a vehicle at £18,000, you will be paying £3,000 in VAT. Now a vehicle at £15,000 makes better business sense, doesn’t it? It can be done if you know how! Did you know that many businesses can reclaim that VAT when it comes time to file taxes? That is something worth discussing with your accountant if you are really interested in driving a new vehicle.Continue Reading

Can you get accepted for car finance with bad credit?

By

If you’ve ever been refused car finance in the past, you may think applying for car finance with bad credit is impossible. However, not all hope is lost! When you apply for bad credit car finance, there are usually a number of options available to you.

How does bad credit affect your application?

When you apply for car finance, lenders or car finance companies will usually do a search on your credit file. Having a low credit score, can make it harder for you to get accepted for car finance. This is because you may have had trouble in the past repaying your debts or loans and lenders may think there is a chance you may not pay any additional debt back.

What sort of things affect my credit score?

If you have bad credit, you may know why that is or you may be wondering how. There are many things that affect your credit score. But it’s mainly due to how you manage your money. The main one is your payment history and if you’ve been able to make all your previous payments on time in the past. Lenders will also look at the amount of credit you have available to you and how much you have spent. If you max out credit card balances, this can suggest that you can’t handle any more credit. The number of finance applications you make also affects your score. Try not to make multiple applications in a short space of time as this can seem like you are desperate for credit.Continue Reading

How to Improve Your Credit Score

By

Your credit score is possibly not something you think about very often until you need to borrow money, want to apply for a credit card or take out a loan. As soon as you’re 18, you can apply for a loan or a credit card, so you should start thinking about your credit score as quickly as possible!

Having a good credit score is vital because it can affect your ability to borrow money, impacting future decisions such as buying your first house and taking out finance on a new car. Luckily, it’s possible to check your score for free, and if it’s not looking too rosy, there are a number of things you can do to improve it. Let’s look into it closer below.

What is Your Credit Score?

Every adult in the UK will have a credit report or credit file with one of three credit scoring agencies: Equifax, Experian, and Callcredit. The information contained in it can be used by lenders to determine whether to lend to you, how much to lend you and the rate of interest to charge. Your credit score is based on the information in your file and will be a reflection of your financial decisions and situation over the last six years.Continue Reading

The importance of a financial broker: navigating a volatile market

By

Popular investment routes such as saving up cash or buying a house are seen as sensible decisions, but the reality is that none of these routes are risk-free endeavours – and, in fact, some of the most popular financial markets are more volatile than they may seem. This article will explain how hiring an expert financial broker to help you could be a wise decision if you plan to enter the world of investments.

Property investment

On the face of it, nothing seems quite as safe as investing cash in bricks and mortar. However, there’s no guarantee that your new property will hold its value. If property prices decline, then you could find yourself owing more to your mortgage company than your home will sell for – a situation known as “negative equity”.  A broker will be able to explain how this might happen – and suggest some strategies for dealing with it if it does happen to you.Continue Reading

The best ways to invest your money carefully and make a profit

By

There is no doubt that times are tough for some people now. You may be working flat out at a full-time job but still looking for ways to bump up your monthly pay, or you may be needing to find new ways to make money if your work situation is looking shaky. What many people don’t realise is that investing any money that you can afford is a superb way to do just that. Even if you are financially sorted and just fancy finding a way to bump up your savings, investing is a great option.

As with anything that involves your money though, you need to be smart in what you invest in and how you do it. Taking the time to find a reliable online trading wiki to really get to grips with how to make your money work for you in the safest way is key to seeing a profit on it.

invest money

Best investments make for sensible returns

When it comes to investing your cash, some investments are less risky than others. If you are being careful about how you use any spare money in this way (which is highly advised!), then these are the ones to think about.Continue Reading

Managing Your Money with Financial Management Software

By

It can be tricky to keep up with your finances each month with so many expenses. No matter what your financial situation is, it is always important to keep a close eye on your financial situation so that you are not overspending or entering into a dangerous financial state which can be hard to recover from. Many people feel overwhelmed when looking at their finances because they may have multiple accounts and various different expenses, so what can be done about this?

Tracking Your Finances

Fortunately, in today’s day and age it is easier than ever to track your finances to manage your personal money. This could help you to identify areas in which you could be making savings so that you can improve your financial situation and lead a better lifestyle and healthier financial state. The best way to manage your personal finances is with financial management software. It can be possible to use a spreadsheet, but this can require both skill and effort to create so it is much easier to use software designed to track finances, plus you will not benefit from a host of features that the latest software systems use.Continue Reading