Category: Uncategorized

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 >>

Consumers Can Benefit from the Focus on “Financial Inclusion”

In recent years financial institutions and consumer advocacy groups alike have turned their focus upon “financial inclusion” or lack thereof. Those who are “financially excluded” include many people with low or unstable incomes, or those who have experienced a major upheaval in their lives. Single parents, widowed or single pensioners, migrants, and people suffering from long-term illnesses or disabilities may find themselves excluded, either by choice or otherwise, from banking benefits, credit, loans and insurance. Financial institutions clearly have a monetary stake in greater inclusion, but consumers can benefit too as banks and other institutions scramble over each other to find new ways to serve the under-served. Banks are hurting… read more >>

Budget Bedrock Builds Firm Financial Foundation

Each person’s financial outlook is unique, shaped by income level, spending choices and a host of individual money matters impacting financial health. In some households, earnings are consistent and adequate to meet expenses, pointing up savings and investments as principal concerns. For other families, keeping pace with day to day spending is a more urgent focus, leaving less emphasis on retirement planning and growing wealth. As you sort out cash flow conditions at home, stress your own priorities, but never lose sight of the big picture. Remember, effective financial planners share a common approach – regardless of income and resources at hand. For the best results, use budgets and discipline… read more >>