Investment Support

Like most people I find balancing the household finances at the end of the month a struggle. With three children all under eight and me not in full time work we need to watch every penny and I have become adept at making the money last and would be described by the popular press as a “Thrifty Mum”. I am probably not alone when I’m not only able to list all of my direct debits but also able to say the amounts I pay each week for each of them and the day they come out of our bank account. The control this gives me allows me to avoid worrying too much as I couldn’t cope with the thought of not being able to do so and the crisis I would be in would threaten everything I and my husband have worked together for. I have become very canny at looking out for offers and religiously cut vouchers out of the newspaper and keep an eye out for when the deals are on at the local Tesco supermarket.

One of the most helpful ways of saving money I’ve come across in recent years is to use the comparison websites to make sure that you aren’t paying a penny more than you have to on your household bills. I will regularly log on and do a permanent health insurance comparison or a check to see if our buildings and contents insurance can be bought cheaper than we have it already. Changing electricity and gas suppliers is always worth considering as they tend to put up prices for people who don’t switch providers like the banks and building societies do for those who don’t move their money to the best savings accounts. I believe that we can save about one month’s salary a year by switching or threatening to switch suppliers. Sometime purely mentioning the fact that you are about to change provider to your existing provider will mean that they will drop their price by a huge margin. Its well worth trying, the alternative is too awful to contemplate.

Source: http://www.permanenthealthinsurance.uk.com/blog/2012/01/27/permanent-health-insurance-must-if-you-are-self-employed/

I have used the same insurance broker ever since I had my first car and I needed to arrange cover. They always seemed to work very hard trying to get me the most competitive premiums and the process seemed to take an hour or so and I would always walk away with a hand written cover note and a feeling that it was very expensive but I had the best deal I could get. Looking back on those days, the trust I had in the staff in that office was based on nothing other than blind faith combined with the hope that if I thought it sounded absurdly expensive I might try the insurance broker along the road. Although having already taken an hour or more to get the insurance sorted out, the last thing I would want to do is to go through the entire process again and waste my entire day off. These days of course, like virtually everyone, I no longer use an insurance broker.

I use the online comparison sites and the rest of the population probably use the telephone. The online process is so advanced these days that, rather than taking half an hour, the time need to obtain a quotation is now down to 10 minutes and every form and cover notes are generated on a PDF file which arrived in your inbox within seconds. Whilst you’re on the website the system provides the facility to obtain other financial products as, from the comparisons site point of view, why stop with car insurance? Within minutes you make a Permanent Health Insurance comparison, arrange travel insurance and arrange a hire car to pick you up from the airport. The freedom the system allows is key, as you can access for your self a list of premiums and see for yourself how much cheaper one insurance company is over another.

Source: http://www.permanenthealthinsurance.uk.com/blog/2011/12/16/it-only-took-5-minutes-after-taking-part-permanent-health-insurance-comparison-i-saved-over-212pa/

You may have noticed that the various consumer organisations have been suggesting that we all overhaul our finances regularly. The point is to make sure that we don’t spend too much on all the financial products we need to have but where the cost can differ greatly depending on where you buy them. To see for myself just what could be saved I decided to start off by doing an inheritance tax and to my surprise I realised that I had been paying more than necessary till now. Once I got the necessary advice from qualified professionals, I have reduced my liabilities and pay only what is necessary. With renewed impetus I did the same for other financial service products I pay more regularly and within a matter of a few hours I had radically reduced my monthly outgoings. It’s a curious feeling having made such a seismic change to one’s finances. Do I regard the savings as new money or old money I’ve wasted in the past? One thing’s certain; if you don’t do this straight away you’re only costing yourself money. I would hazard a guess that I have saved enough to pay for a holiday with the combined saving I have been able to make.

Exploring your options is the right way to determine what career is right for me. If you discover what is out there you can decide where you want to go. If you have completed your education, a graduate, you can apply for several positions on the Internet.

A graduate stands a good chance of being hired. Know your graduate scheme so that you apply for the right jobs. Entry-level jobs and listings are available at selected websites on the Web. Simply, go where the job crowds are to start your search.

Entry-level jobs are available by FDM Group. FDM is one of the largest intercontinental IT groups located in London, New York, Zurich, Manchester, Frankfurt, Hong Kong, Luxemburg, and other areas. The company is huge, and constantly growing. This means FDM is always looking for good workers like you to hire into the company.

Job ideas are listed at job crowd sites online. Use the ideas to discover what is available to you. The ideas can help you determine what career is right for you. Graduate scheme jobs are offered by various companies. Continue reading »

I have heard all kinds of solutions with regards to my inheritance tax bill which would be due when I pass away. I used to believe it would be best to put Life Cover in place which would pay enough money to cover any potential tax bill.
However it would be expensive to pay an amount each month to cover a liability, especially as I would have to pay this for the rest of my life, and 40 years of payments would work out extremely expensive!!
Therefore I have opted for a strategy where you hold your invested funds more tax efficiently, as it is possible to place this money outside your estate as a method of Inheritance Tax Planning. I would still have control over this money, be able to receive an income each year if required, but also be able to assign the money to my beneficiaries if they need it, and it would not have to take another 7 years for it to be considered outside my estate for inheritance tax purposes.

Therefore a strategy of holding my money in trust works out far more efficient than putting life cover in place to pay a potential bill.

There are plenty of reasons why an Individual Voluntary Arrangement, or IVA, could be the ideal debt relief strategy for you. The IVA is a legally binding agreement between you and your creditors, replacing your original debt repayments with a new affordable compromised structure.

But why choose an IVA. Here are our ten biggest reasons:
• Affordability – The monthly repayments of the IVA are designed to be affordable. Debtors can pay whilst getting on with their lives.
• Fixed Term – An IVA runs over a fixed term (maximum 5 years) and debtors know exactly when the process will be complete.
• Debt Write Off – When the fixed period expires, whatever debt remains is written off. Creditors agree the terms and the timeframe; then you simply complete it.
• Privacy – IVA’s are private agreements, not published in the press, nor is your employer notified. The arrangement is between you, your creditors and the insolvency practitioner.
• Professionals – An IVA is an alternative to bankruptcy if you have debts of £15,000+ but cannot apply for bankruptcy due to the nature of your occupation.
• Protection – Once they have agreed to the IVA, your creditors forfeit the ability to take legal action against you to recoup debt. This means that you can avoid any court proceedings.
• Binding – Once the terms of the IVA are agreed your creditors cannot insist upon changes to your debt repayments. An IVA is a legally binding agreement for you and your creditors.
• Security – Your home is not at risk through an IVA, unlike bankruptcy proceedings which would place all of your assets at risk, even your home.
• Permanent – An Individual Voluntary Arrangment is a permanent solution to your debt management problems, and when you’re done, your debt problems will be eradicated.
• Satisfaction – When carrying out the terms of an IVA, a debtor does not suffer the same stigma that is attached to bankruptcy. The debtor pays all that they can afford to pay.

Although Inheritance Tax accounts for a relatively small amount of the total UK tax receipt, it has still grown significantly over the past 10 years. In fact, HM Revenue & Customs has increased by almost £340 million the money it gets from inheritance tax in the last 10 years. In the 2001/2002 tax year £2.38bn was collected, whereas in 2011/12 £2.72bn, so why are we paying so much more?
When the tax was first introduced, over 100 years ago, it only really affected the very wealthy or ‘super rich’. However today Inheritance Tax is a real issue for a large number of people and the main reason for this could be UK house prices, which despite recent drops have still nearly doubled in average value since 2001. This has pushed many more estates over the Inheritance Tax threshold that would historically have had nothing to pay. From 2001 to 2011, average UK house prices have increased by 93%, while the inheritance tax threshold for the same period has only increased by 34%. Therefore even if this trend doesn’t continue, it is fair to say that many people may find themselves with an estate of sufficient value to warrant some careful planning.

As debt increases, and households owe more and more money to various agents, it can often become impossible to afford each individual repayment. It’s a pretty scary situation, and the temptation can be to bury your head in the sand and ignore it. But debt won’t go away by itself and if you’re going to begin to manage your debt, you’re going to need a plan.

Thankfully, help is at hand.

If you owe money to a number of parties, and can’t afford to pay them all, a debt management plan can allow you to tackle the problem head on and start your journey back to the black. A debt management plan is a way of consolidating your various debts into one affordable sum. This payment is then divided between all of the parties that you owe.

Debt consolidation might reduce the amount of each individual repayment but is guaranteed to improve your debt management situation in two important ways.

Firstly, when the original repayments become unaffordable and payments aren’t made, you’ll be penalised and this only adds to the ever increasing sum you owe. So by employing a debt management plan, you’re making regular payments on each debt and keeping unwanted penalties at bay.

Secondly, through debt consolidation you replace all of your repayment sums and payment dates with one simple monthly repayment. This greatly simplifies the debt management process and helps to reduce stress as well as arrears. This is very important.

It is possible to tackle the debt consolidation process for yourself, assessing your financial situation, calculating the amount you can afford to lay out each month and negotiating interest rates, charges and repayments with the people you owe money to, in unsecured debts.

Alternatively, you can seek professional debt management help from a certified and reliable company. With the help of a professional debt management plan it might even be possible to freeze interest rates and charges, helping you to pay off your debts quicker. There is no guarantee that the creditors of your unsecured debts will freeze any interest or strike off charges, but there is a possibility that this may happen, which could be a great help in your efforts to pay off debt.

There are a number of ways to improve your financial situation, both in house and out, but perhaps the most important step is the very first: making the decision to act, and tackling your debt, instead of hiding from it.

Many of us across the UK are overburdened with debt. While most people have debts, many manage to pay them off comfortably, according to the terms agreed upon with their financial provider. But a few people are unable to meet their debt repayment obligations and are forced to seek other remedies regarding their debts.

Debt can be good as it enables individuals and families acquire property and assets that they could otherwise not afford. Such assets include a house, a car, electronic equipment and many others. People unable to meet their debt obligations and do nothing about it, risk facing punitive action against them. A good example is having property attached to debt, and assets such as bank accounts.

One solution available to indebted people is the iva uk debt solution. An iva uk is basically an agreement between a debtor and his creditors that allows the person to negotiate debt repayment terms that they can suitably handle without having their regular lives affected. The term iva uk basically stands for individual voluntary agreement as regulated by UK law. It is a legally backed debt repayment agreement that allows indebted people and their creditors agree on a debt repayment program that the debtor can manage.

In order for a debtor to qualify for an iva uk program, they need to first visit a debt or finance consultant or firm. The professional here will assess the personal circumstances of the individual and determine that an iva uk is the best solution for their debt. Once this is determined, then an agreement is signed and agreed upon. The agreement has to be approved by an IP, an insolvency practitioner. This is a legally mandated professional who can write, approve and forward an iva uk.

To qualify for an IVA program, a person needs to have at least 15.000 pounds in debt, owe more than one creditor money and be able to afford payment amounts of at least  £150 per month. The person will need to demonstrate that the debts repayment far exceed their living expenses. An iva program is good as it lasts for only five years after which any unpaid debt is written off.

Living in the UK with debts, and considering the possibility of a bankruptcy proceeding? Before filing with the court, there are other options for UK debtors, one being the IVA uk, which will allow the consumer to “freeze” their debts for a fixed period of time. There are certain qualifications which must be met to be eligible for an IVA uk, however, it is a far superior option to filing for bankruptcy, and having that negative stigma carried around on your creditr report for a few years. The option of an IVA uk, over a bankruptcy proceeding is much more beneficial to debtors, and will allow you to keep certain assets which bankruptcy will not allow. Therefore, when considering bankruptcy, you should first contact an IVA uk adviser, and get the facts to see if you qualify.

An IVA uk is an agreement between the applicant (debtor) and their creditors, which will secure all of the unsecured payments made, with a single payment, based on what the debtor can afford. An IVA uk is generally a fixed term (of typically five years), and this term is set if, and when, the creditors agree to the IVA uk. For a debtor to qualify, they must have at least 12,00 lbs of unsecured debt, which must be owed to at least two or more creditors; additionally, the debtor must be able to make a minimum payment per month of 150 lbs on the IVA uk payments.

The major purpose behind these IVAs is to be an alternative to bankruptcy, and will allow debtors to “freeze” their debts for that fixed agreed upon term. Once the term is up, whatever unpaid balance is still owed to the debtor’s creditors, will be written off in a majority of the cases. This is a great option over bankruptcy, especially if you are a debtor who has certain assets which you want to protect, which in the case of a bankruptcy proceeding through the courts, you would lose, including a vehicle (which is typically the major asset most debtors wish to protect.) – This process of “freezing out your debts” is a great way to minimize total debts, and to avoid the ultimatum of making the choice to file for bankruptcy.