How to Manage Your Finances

With many people having to tighten their belts, as the cost of living rises but wages stay the same, it’s becoming increasingly important to manage finances properly. Some people are great at it, but others struggle to get the most out of their money. Here are 5 quick tips that you can use to manage your finances better.

  1. Set Goals

It’s always important to have something to work towards, so before you do anything else, it’s a good idea to set some goals for yourself. This will help you to be motivated. Some of the things that you might want to target are the clearing of debts, saving up for something, or tidying up your outgoings. Yourwealth.co.uk is a great resource for finding out about financial products such as mortgages and pensions.

  1. Make a Budget

Budgeting is very important indeed. Without one, you don’t fully know where your money is going, and what’s coming in. Failing to understand this is one of the main reasons for people getting into debt and spending more than they should. A basic spreadsheet is all you need, and it’ll help you work out exactly where you stand each month.

  1. Save

Saving some money is always a good idea, whether there’s something large you need to be able to pay for, or to have an emergency fund. There’s no need to save more than you can afford, and anything that you’ve got tucked away will help. Many people recommend having enough money to live on for three months in the event of an emergency. Don’t be tempted to dip into savings unless you really do need them.

  1. Manage Debts

Debts can be costly, which why it is imperative that you manage them properly. Avoid paying interest where possible, by paying things off early. You should also endeavour to find the lowest interest rates for the debts that you do need. Consider changing credit card providers if one offers a more favourable rate, and always ensure you’re using the cheapest line of credit.

  1. Don’t Overspend

It’s all to easy to spend a lot more money than you really need to. Consider whether or not you really need something before you buy it, and shop around to make sure that you’re getting the best deal on anything you buy, whether it’s a laptop or insurance policy.

What Exactly is A Fixed Term Annuity?

A fixed term annuity is a type of pension product that offers an alternative to the usual method of obtaining an income during your retirement. It’s actually a more flexible option, which is ideal for those people who are looking to keep their options open, because they think that their personal circumstances could change further into their retirement. If you think you might need more money as your health deteriorates, you could be stuck with a fixed income for the rest of your life with other annuities.

The concept is quite simple; you invest a sum from your pension scheme, and then the provider pays you a guaranteed income for a set amount of time, which is generally five or more years. It’s important to note that the government does impose limits on the amount that a pension scheme can pay out per month, though you are generally able to choose what you’d like to be paid within those limits. There may also be benefits to take, should you not live out the full term. If you do reach the end of the agreement, you are eligible to receive a lump sum. Many people choose to reinvest this in a future plan.

It is important to be aware that not all plans are the same. For example, some policies offer the chance for you to convert to an enhanced annuity if your health deteriorates during the term of the annuity, but this is not always the case. If you didn’t have the benefit, you’d have to wait until the scheme had ended to choose a new income product. For this reason, you should always seek advice before buying any product, and you should make sure that you fully understand all of the details.

To conclude, fixed term annuities are a product that will be ideal fro some people, but are not suitable for others. If you want to ensure that your options are open, and don’t want to have to worry about investment performance, then a fixed term annuity could be a very good decision. If however, you want a guaranteed income for the rest of your life, and would prefer not to have to think about buying a pension product in the future, then you may want to look into traditional annuities. You can visit www.nononsenseannuities.co.uk for more information on different types of annuities.

The Ultimate Car Insurance Checklist

Diving in to the world of car insurance can seem a little daunting especially if you are insuring your car for the first time. Here is a simple guide that aims to take the stress out of buying car insurance in just a few simple steps.

Personal Information

car insuranceThe first step is to collate all of your personal details and note them down in one place. Searching for the right car insurance deal can be stressful enough without having to locate your details and your driving records. If you plan to add another driver to your policy, make sure you have all of their details to hand also. Having this information to hand will save you time on your search for the best car insurance deal. Keep all of your personal details in a pile with your renewal letter and your proof of no claims discount if you have any. Lastly, dig out your debit or credit card in preparation of payment.

Vehicle Details

When you are shopping online for car insurance, you will need to know a number of things about your vehicle. Your vehicle registration number should be noted down as well as your annual mileage and the model and brand of your car.

Types of Car Insurance

Once you have all of the required information, it’s time to start your search for the right type of car insurance online. There are a number of different options to choose from including comprehensive car insurance, third party car insurance and third party, fire and theft. Choose comprehensive car insurance if you want to be covered for everything should an accident happen but be prepared to pay for the privilege.  This is the most expensive car insurance type but it will cover you against fire, theft and the damages caused to your vehicle and the other car involved should you be in an accident that was your fault. Third party insurance is more of a basic option that is usually the cheapest form of cover but this will only cover your passengers in the event of an injury.

Policy Excess

You will have to pay policy excess regardless of the car insurance provider you choose. You can choose the amount of voluntary excess you want to pay and if you are willing to pay a substantial amount, this will lower the price of your premium.

How to Find the Right Car Insurance Provider

Finding the right car insurance provider can be time consuming but it is essential to shop around for the best deal. Doing your homework is one way to save money on your car insurance and this is your chance to lower the price of your cover. You can either search for a cheap quote via a car insurance comparison site or go direct to a car insurance provider. If you do choose to go direct, make sure you get a number of different quotes as this will ensure you are not paying over and above for your insurance. You can find out more information online at http://www.skyinsurance.co.uk.

Why You Need A Comprehensive Car Insurance?

Our vehicle is one of the most valuable possessions we have and it’s just right that we insure it. The law also requires us to get a motor vehicle liability insurance to any car, truck or motorcycle we own. This provides us financial security in case our vehicle is involved in any traffic accident that could result in material or human damage. Generally, every country has its own set of regulations when it comes to auto insurance. In most cases, vehicle owners must buy an insurance policy before they are allowed to drive their vehicle on public roads.

Having an auto insurance can provide several advantages, especially if you got a comprehensive car insurance for your vehicle. This particular insurance policy can cover almost every incident that you might encounter on the road and these include the following:

  • Accidental or malicious damage to your car
  • Fire
  • Theft
  • Glass breakage resulting in damage to sunroofs, windows and windscreen
  • Flood and other natural calamities
  • Damage you caused to property during an accident
  • Injury you caused to people during the accident

car insuranceImagine the hassles and the enormous expense you need to endure if you don’t have a valid auto insurance. In fact, if you shoulder the repairs for your vehicle and the medical bills that you’ve incurred in an accident will surely hurt your pocket. Therefore, getting the right type of car insurance is a must. You also need to choose a reputable insurance company that can provide you with the best value insurance policy for your vehicle. Actually, there are several factors that you must consider first before choosing an insurance company.

First, you need to know their track record and the number of years they operated in this type of business. You may also want to check if they are tied-up with credible auto shops that have the best repair facilities in your area. So, in case your car got damaged in an accident, they can repair it as quickly as possible and with the highest quality standards. A reliable auto insurance company must also provide you with a courtesy car. This is actually a service car that you can use while your actual car is being repaired.

A good insurance company must always be professional in dealing with your needs. Whether you’re inquiring for their services or asking for their help in processing your claims. So far, one insurance company has reached this status and it’s the leading auto insurance provider in Northern Ireland. This company is AXA and they have the best comprehensive car insurance you can ever have. For further inquiries you can visit their main site at www.axa.ie.

When Should You Buy Life Insurance?

We all want to protect our families in case the worst should happen.  When we are young, free, and single, life insurance may not be at the top of our list of priorities, but after certain life events it becomes an important asset.  Marriage, having children, and taking out a mortgage are all huge responsibilities that can put financial strain on a person should they find themselves suddenly alone.  This is especially important if you are the main breadwinner in the household, and fortunately there are many different types of life insurance to suit every budget.  Whether you wish to protect your home for your partner after your death, or ensure that your children will be provided for, life insurance can offer you peace of mind and security that will guarantee they will be taken care of after you’re gone.

Business Insurance PolicyMany people get confused as to when is the correct time to purchase life insurance.  After you have married, your partner will assume responsibility for you, and this includes making funeral arrangements after your death.  The funeral of a close family member can be one of the most expensive times in a person’s life, and it is wise to take steps to ensure that your partner will not be burdened.  Whole of life cover is a form of insurance that will protect you for your entire life, and is usually paid out in a lump sum in the event of your death.  Term life insurance can be taken out in the form of a policy that runs for a certain number of years.  This type of policy is perfect for those who have taken out a mortgage together, as it will provide coverage until your mortgage is fully paid off.  Failure to provide your spouse with adequate financial support after you have gone may result in them losing their home, and this becomes even more important if you have children.

Single people, or those without dependants, are not generally considered to need life insurance, but there are some exceptions to the rule.  If you have taken out a mortgage with a friend or business partner, it is worthwhile considering life insurance plans for all parties involved.  Life can be unpredictable, and it is wise to protect yourself against unforeseen circumstances.  Likewise, if you have invested in a business or project with another person where you both share the financial responsibility, some form of life insurance will protect your investment should something happen to you or your business partner.

When choosing the right life insurance policy for yourself, you will need to consider how much support your dependents will require after you have gone.  If you opt for term life insurance you can select from level or decreasing term.  Level term insurance will pay out a lump sum at any time, and can run for a period of time such as 20 years.  This makes an ideal option for those who have taken out an interest-only mortgage or have young children.  Decreasing term insurance will pay out a lump sum, but the amount will decrease over time.  This is ideal for those with older children, or those who are confident that their partner will be able to support themselves.  Whatever policy you choose, you can rest assured that your loved ones will be looked after in the event of your death, and will not struggle with financial problems during an already stressful time.

Jeff Noble has been helping people choose the right insurance policies for years. His articles predominantly appear on life insurance blogs. Find out the most popular months people purchase life insurance and why.

Where To Find And Get Cheap Auto Insurance?

Every car owner is in earnest quest of a cheap auto insurance deal. Without following some basic tips, it won’t be easy to get cheap insurance. If you take some essential factors into consideration, it will lessen your hazard of getting an insurance deal that will provide good extent of coverage and also come easy on your pocket.

Knowledge is power and it applies here too. Firstly, you need to do some extensive research on the available auto insurance policies. Good it will be if you restrict your search to what only the leading companies offer. Internet search is a better idea than shopping around. Get a few quotes from the reputed brands and take time to navigate through the offering as well as compare them. Another alternative and easiest way to get cheap insurance is to ask your friends and well-wishers for suggestions. If they have already purchased auto insurance, they can guide you regarding which scheme will work best in your situation and also about the best insurance seller in the industry.

auto insuranceYou must have good knowledge about the factors that play an influential role in determining the auto insurance price. These factors include your age, car model, driving history and marital status. The elders and teenagers are usually offered more expensive policies as these drivers are considered in high risk zone. The insurance companies always consider the risk factor to calculate the cost of an auto insurance policy. If you can prove of being a low-risk driver, insurance coverage will be much cheaper in your case. A good driving record is a proof of your being safe driver and by showing it, you can avail a decent discounted insurance deal. Make sure to drive safely and follow traffic rules to avoid earning tickets which will dent your driving history.

Auto insurance guarantees safety not only for you but also for your vehicle. Newer cars are considered to be safer and insurance on them is inexpensive. These cars have improved safety features like automatic seatbelts which ensure more security for the drivers and so lower the insurance premium too. If you own an old vehicle, then install some security devices, it will magically reduce your car insurance rate. Loyalty is rewarded in the business and auto insurance is not an exception to it. If you find an insurance seller that provides affordable schemes with extensive coverage, stick to it if. Being a loyal customer, you will get a deeper discount on the group insurance policy. Make sure to pay premium on time to avoid penalty charges. This will establish you as a good client and will help you get more cost-effective offers in future.

Consolidation of insurance policies is a good way to avail cheap deal. Most of us have different insurance policies with multiple companies. If these are consolidated under one insurance provider, per policy cost comes down to an affordable margin. Consolidation is also possible if you have multiple auto insurance policies. You will get relief from having to deal with several companies and making payment to them at different times.

Diversification as a Risk Management Strategy for Smart Investment

There is a direct correlation between investment return and investment risk. This means that an expectation of a higher return is always associated with higher risk in that particular investment. While this is a universal fact, it is not something that the investors desire. What investors really desire is highest return at lowest risk, which is actually dependent on the level of risk they are ready to take. Basically, any investor has two main objectives in her or his mind: To increase the capital safely and to obtain a better return than other existing alternatives. More importantly, no investor wishes to be left worried with regards to a significant loss. So, now the question is how an investor can accomplish the final goal of good returns without increasing the risk level.

First, There are Two Concepts to Take Care of!

First is risk that affects the returns and second is diversification that manages risk and aids in fetching better returns.

Exploring the Concept of Risk

smart investment
smart investment

Essentially, risk is composed of two gears: Uncertainty and exposure. For example, when you fly in the sky through the sport of paragliding, there is a risk involved. You are exposed to the danger of falling down swiftly if the paraglider fails to operate well. Further, the chances of this accident to happen are uncertain as it is not known in advance which circumstances can put you in danger. However, this risk never stops one from paragliding. Rather, the risk gets assessed and all possible precautions such as emergency training, using safe equipments, and flying only if the weather and wind conditions are favorable. Similarly, investment risk is also the same. Once an investment is done, the investor is exposed to uncertainty of the return not turning to be same as expected. The possible variation of returns is volatility that measures the degree of change in the value of an asset over time (risk). In short, volatility help measures risk. As a generic rule, low-risk assets tend to carry low volatility and vice-versa. However, it is also true that risk is good when properly managed. This is the reason that drives the returns.

Exploring the Concept of Diversification 

An ideal investment portfolio needs to feature comprehensive and complete set of clubs for accomplishing investment goals. Herein, the clubs are diverse financial assets such as cash, shares, and property. This blend of assets in a portfolio is diversification and that it tends to vary as per the goal, objectives, risk tolerance level, and time of the investor. Typically, assets are of two types: Income and growth assets. Income assets offer returns on income via coupon and interest payments, while growth assets ensure returns from capital growth over a period of time (property and shares).

Diversification justifies the phrase of avoiding the storage of all eggs in one basket. It helps in alleviating the plus and minus potential for facilitating balanced performance in any kind of economic condition. It is obvious that when you spread your investment in different assets, you are certainly spreading the risk along with it. Now, you may have a question as to how to diversify your risk. Well, a majority of investors prefer diversifying their portfolio by including the ‘core’ assets such as bonds, shares, cash, and property. However, how do you decide the suitable mix of these assets so that you have an optimal portfolio as per your needs as well as circumstances? For determining this, you need a good financial advisor or consultant who can guide you in the right direction efficiently as well as effectively. In this way, diversification can minimize the investment risk smartly.

4 Browser Extensions that Can Augment Your Savings Drastically

 Browser ExtensionsIf you love to shop online, you will be happy to know that there are many browser extensions facilitating a prudent, safe, and optimistic buying experience. By using these creative extensions, you tend to simplify the shopping process as well as minimize security risks. However, what will surprise you is that some of these extensions help you to save the hard-earned money apart from reducing the time required to find the most suitable deals. This is something that’s the need of an hour! Due to economic recession and inflation, several economies of the world are striving hard to become stable. However, meanwhile, the citizens are facing a difficult situation due to reduced disposable income coupled with non-deferrable spending. As a result, it becomes vital to spend sensibly without compromising the quality of life. One way to ensure this is to use some really money-saving browser extensions while shopping.

Shopping Assistant

This one is a decisive and featured extension available for multiple browsers such as Opera, Chrome, and Firefox. The extension allows an online buyer to shop efficiently as well as effectively. As you go ahead to explore different sites for locating your desired items, the extension tends to highlight similar products automatically from famous resources such as eBay and Amazon. It also displays a price history for that particular item, which shows the price at which the item was sold on a particular shopping portal. This is extremely useful if you wish to save money or get the item at a proper price. Although it is true that online shopping can expose the buyers to a myriad of money saving portals, the browser extensions take a step ahead to offer more assistance.

PriceBlink

Available on Safari, Firefox, and Chrome; this extension works by relaying an automatic comparison of the rates of an item that you are looking for while shopping online. When you go through a relevant page talking about the item you are looking for, the tool automatically displays a set of competing prices that can help you in making considerable savings. The main advantage of this tool is that it discards the required time as well as effort for comparing prices on different sites. Such a tool is truly a time and money savior for all those with hectic daily schedule.

Coupon Digger

The name says it all! This creative extension facilitates the customers to locate coupon codes with least effort. The tool works by connecting you to the promotional codes that are hosted by several top brands. This means that you have ample of scope to save considerably while buying any kind of stuff. Well, instead of searching or peeing into a myriad of sites for finding just a few vouchers and coupon codes, you can simply register to obtain automated notifications after reaching the virtual checkout step on the specific shopping sites. The browser extension is available for Firefox as well as for Chrome.

Ciuvo Price Check

When you are about to shop in an online retail market, you normally start by selecting a brand and then the product so that you can make a durable and affordable investment. In order to do so, it is obvious that you need to access comprehensive details such as images, customer reviews, and price comparison chart. This is exactly where this tool can help you. It is a comprehensive extension for Safari, IE 9, Opera, and Chrome to offer access to a comprehensive range of data as well as to real time promotional codes and vouchers available at the time of buying. It is certainly an efficient browser extension that is distinct in terms of what it offers.

3 Maintenance Tips to Keep Your Classic Car Engine Purring

If you own a classic car, then you almost certainly want to keep it running in perfect condition for years to come. While there are numerous specific parts of these cars that need tender love and care, there are a few, namely the engine, that need even more special attention paid to them. The engine is what keeps your car running. It is what will keep it on the road long into the future. The three tips below are three of the best ways to keep your classic car engine purring. 

Lube, Oil, Filter

save on car expenditureLike with any sort of car, it is very important to perform regular maintenance on your classic car. This consists primarily of a lube, oil, and filter. You can perform this maintenance by yourself at home or take your car into an auto shop for the services. It basically consists of changing the oil, replacing the air filter, and giving everything a good lube. A lube, oil, filter is one of the most important things that you can do for the engine of your classic car.

Replace With Original Components

Most people buy classic cars that are in less than stellar condition. That is part of the joy of owning one for many people, in fact. Working on a car and replacing its parts while restoring others lets you establish a relationship of sorts with it. It will help you know the car inside and out and make it something that you are proud of. While working on the engine, be sure to replace old or worn out parts with original components whenever possible. Faulty or fake engine components can completely ruin your classic car’s engine. By using reliable and trustworthy parts you can be certain that your car will run like a charm long into the future.

Protect Engine From the Elements

One final thing that you can do for the engine of your car is keep it protected from the elements. Sure, it is not exactly a maintenance tip but it is nearly as good as one. Storing your car indoors will protect it from the rain, sun, heat, and cold, all of which can cause serious damage to its engine. It is especially important to store your classic car inside if you live in an excessively hot, cold, or damp climate. If you can’t afford to or don’t have room to store your car inside, consider purchasing a weather-proof car cover. It is not quite the same but it is far better than leaving your car outside completely on its own.

Owning a classic car is not all fun and games. It also requires regular maintenance. And the three maintenance tips discussed above will help keep your classic car’s engine purring for years and years to come.

Gillian Kearney is a classic car enthusiast. She also enjoys sharing her insights through blogging, Visit the www.monkey.co.uk link for more information.

What Should Be My Business Insurance Policy Amount?

A comprehensive insurance policy is the best to be taken since it covers all the risks of a particular sector. Though there are many businesses, there would be a common ground for the kind of risks that they face. Depending on the nature of the business, there would be certain risks in one business that are not found in another. Even those risks are covered in business insurance policy. The risks that are covered in this policy start from public liability insurance that every business needs and which is mandatory for quite a few kinds of trades due to the risk that they pose to the public, to general risks and business all risks.

Business Insurance PolicyWhen a business transfers all the risks to another party who is efficient in handling such kind of risks, the business makes time to concentrate on managing, growing and developing their business. Like any insurance cover, even for this a person needs to pay the policy amount as premium. So next question would be how to know or calculate the amount for which insurance needs to be taken.

Factors to be considered while estimating policy amount:

Business insurance policy is one and the same for all the businesses since the risks of the businesses would be similar. But the policy amount would differ. To calculate the estimate amount of your policy, these factors are considered.

• Nature of the business
• Level of risk in different areas of the business
• Measures taken to curb the risks
• Estimated repair and replacement costs for the things to be insured

Above are the basic factors that all the business insurance companies take into consideration. But there could be other factors as well depending on the insurer that you choose to go with to get your risks covered.

Nature of the business:

This is the first and most basic aspect since this will determine the kind of risks that the business faces. Also the size of the business is looked into as this will be needed for business fidelity coverage i.e., theft by employees of the organization. The level of coverage is determined by the seriousness of the risks posed by the business to the third party.

Level of risks in different areas of business:

Depending upon how much damage can the objects cause to the third party, the policy amount need to be decided. Industries like construction and any production industry will need a higher amount of coverage than a store.
Measures taken to curb the risks:

If a fire alarm and other precautionary measures are in place the policy amount would be reduced. Such measures need to be taken by all businesses even if they have got a whole cover.
You may get an estimate of your policy amount from different insurers and then decide which one to opt for after reading the fine print.