With 'Brexit' on our news channels around the clock, our country's economy is faced with uncertainty. However, your finances might be uncertain too. If you lose your job or find your grocery bills too expensive to afford, will you be able to take out credit with the bank? Or will you find it simpler to get quick, easy loans with a provider like us?
Well, there's no way of knowing exactly what will happen with the economy (and with any luck, things won't be as bad as some people have predicted!), but it's certainly a good idea to make your finances as secure as possible. Here's how:
Create a budget
A budget sounds scary (and boring, too), but it's actually a safety net. Create a spreadsheet detailing your monthly bills to find out where your money is going. All you have to do after that is add up the outgoings and check that the figure is smaller than your income. If it's not, it's time to adjust your lifestyle a little bit: is there anything you can cut back on to decrease your outgoings, or anything you can do to increase your income?
Try to save some money
Then, see if you can find any money for savings. If you're on a low income this can be really hard, but even a little will help! Try to cut back on buying lunch at work, or see if you can car share a few times a week to reduce your fuel costs.
Saving is a good idea right now - rent prices are predicted to rise in the UK, so having a little pot of money to cushion yourself against a rent hike will only come in useful. If you don't end up needing it to pay for your accommodation, you'll have it for a new car, a holiday or a rainy day.
Pay off your debt
Having debt looming over you is a drain on your wellbeing as well as your wallet, and you'll feel much better if you have a plan to pay it off! If you have quick, easy loans (such as a logbook loan) then you'll already have agreed how much you're going to pay back every month.
But if you're unsure about where you stand with your other debts, take control of your finances right now. You might be able to consolidate your credit card loans and personal loans into one sum to pay back, and you can talk to charities who will be happy to offer good advice about managing debt in a way that's practical and healthy for you.
Hold back until you know what's going to happen
The media are talking about the fact that, as a nation, we're not spending as much as experts think we should be right now. This might be a result of Brexit or it could just be a coincidence, but it seems that house prices are set to fall and interest rates are going to be adjusted. So, if you're planning on buying a new car or a home, do some research and think about holding off from making big purchases until you've seen what's going to happen to prices and repayment rates.