Category: Uncategorized

Millennials and Credit: Escaping the Catch-22

George Bernard Shaw reportedly said that it’s a pity that youth is wasted on the young. But being young isn’t always all it’s cracked up to be, particularly when it comes to personal finance issues such as credit. Millennials – those born after 1982 – have unique credit challenges that are only now beginning to be addressed seriously. If you are young and find yourself struggling to build credit, you’re certainly not alone. It’s important that you know about the options that are available to you so you can make fully informed choices. The millennials’ “catch-22” A “catch-22” – the term comes from a 1961 novel by Joseph Heller –… read more >>

Putting the Brakes on Impulse Spending

Smart management of personal finances requires three basic elements: optimising income, reining in expenditures, and choosing the best savings and/or investment strategies. For many people, it’s the second element that snags them: one of their biggest challenges is keeping their spending under control. And for those who spend much of their life online, impulse buying can turn into a serious problem. Perhaps you’re experiencing such a problem. If so, you may have discovered that while technology has made money management easier in many ways, it has also made spending far too easy. That said, don’t think that you’re doomed to wallow in a never-ending cycle of impulse buying, buyer’s remorse,… read more >>

Breaking Up Is Hard to Do, But Don’t Let It Destroy You Financially

Celebrity divorces – particularly messy, scandal-ridden splits – always make good fodder for the international tabloids and the entertainment “news” shows. There’s no doubt that divorcing celebrities exist on a completely different plane than most of us, and although they most assuredly have emotional issues to deal with as their breakup progresses, they are not likely to suffer much financially. That’s not the case with the average couple contemplating divorce in the UK. Though we can’t speak to the emotional pain of ending a marriage, we can discuss some ways to minimise the financial stress associated with a parting of ways. Be aware of the issues that divorcing couples face… read more >>

Closing the Financial Gender Gap

We’ve come a long way since the first UK credit card was launched half a century ago. Gone (for the most part, anyway) are the bad old days of “credit sexism”, when banks and stores considered women to be a higher-risk investment than men. As a result of that skewed view, women in the 1960s and into the mid-1970s generally had to get their fathers or husbands to sign for most loans, even if the woman in question happened to earn more than the man in her life. This was despite the fact that women had long been in charge of household budgets, and that by 1971, 52 percent of… read more >>

Your Credit Report: Ignorance is No Excuse

You may have noticed that the importance of building and maintaining good credit has been a favourite theme on this site. That’s because we’re all about personal finance management, and poor credit is generally a sign that there’s room for improvement in your finances. We never cease to be amazed and dismayed by the large numbers of people who still aren’t on top of their credit reports. There’s really no excuse for that these days, because it is easier than ever to get this information. So at the risk of being redundant let’s take a closer look at the problem – and the solution. Are most UK households in denial… read more >>