Forget about storing your money in a piggy bank, sock drawer, or under the mattress. Although these are suitable options for keeping your cash stored in a convenient place, they're not going to earn you any extra money from your savings. This is why you need to secure the best bank savings account.
For those unaware, a savings account is a bank/building society account with the purpose of earning you interest on the money you put in. For example, say you deposit £1,000 into a savings account with 3% interest, by the end of the first year you will earn £30 to give you £1,030 in total. This isn't a lot, admittedly, but it can quickly accumulate. Plus who doesn't love free money? Simply put, the more you put in, the more you're going to receive.
Continue reading "Best Banks for Savings Accounts"
For many, the events of 2020 have provided a different viewpoint on day-to-day life. Aside from having to change routines such as working from home and not being able to go to the pub, it has forced people to alter their spending habits.
Redundancies, furlough, and other restrictions have all played their part in causing plenty to re-evaluate their finances. Yet even if people are earning a wage as normal, they can be placed into 'forced spending'. This means they cannot splash the cash as they normally would, resulting in them saving money during the current pandemic.
Continue reading "How to Save Money in 2021"
You want to save more and spend less; everyone does. Yet when you factor in the reality of day-to-day life, keeping your personal finances under control isn't an easy task. Not only can it be difficult to find the time or motivation to organise your money, but bills and other expenses can quickly decimate any saving efforts.
Continue reading "Best Budget Apps for 2021"
Are you facing a mountain of debt, and aren't sure what to do?
You're not alone - debt is crippling the British financial system, and with the recent developments with the COVID pandemic, things are looking quite bleak for everyone. With millions out of work and jobs hard to come by, debt is, unfortunately, something we may all need to live with going forward.
Continue reading "Creative Ways to Get Out of Debt"
Lifestyle inflation, also referred to as lifestyle creep, is when you increase your overall spending to support your lifestyle habits. This can be as a result of a new job or promotion that has resulted in a higher income, or simply a continuous desire to keep up with peers in terms of buying the latest phone, a better car, or even a larger house.
For many, the main problem with lifestyle inflation is that no matter how much you earn, the constant desire to spend more, and often the escalating costs, means you remain stuck in a cycle of living from paycheck to paycheck.
Continue reading "How to Limit Lifestyle Inflation"
Are you struggling with debt? Have your finances suffered during the current pandemic and not sure where to turn? Have you got high credit card debt that just seems to be growing rather than shrinking that you need to get back on track, and quickly?
It might be time to look into a way to consolidate your debt instead of continuing to pay over the odds.
Continue reading "How to Consolidate Debt"