Traveling for a Fraction of the Norm

When you have decided to take your personal finances into your own hands, it is time to analyze every aspect of your life. Sometimes, analyzing what seems like should be simply an effortless, fun affair, is where you will find the greatest opportunities for cost-savings. Take vacation for example.

In your previous life, you may have been happy to sign up with a travel agency or tour guide. Spending a few thousand dollars on a ten day trip might not have bothered you. But now that you have decided to take your financial well-being into your own hands, you need to get a grip on where your money is going.

Traveling for a Fraction

You can still travel while holding yourself accountable for your expenses. You just need to get a little wiser about the way that you spend money. By using sites like Orbitz, you will be able to get the same great flights, awesome rental car, and amazing hotel room as you can get through a travel agency. What you miss out on, is the terrible prices- for shame!

If you are smart, you will not just settle there. By utilizing a new service by Groupon you can find even better deals that was not is available on Orbitz alone. By using Groupon’s Coupons you can find 50% off your beach hotel bookings and up to $150 off as well.

When you book through a travel agency they may very well be trying to find you the best deal possible. But we can guarantee they are trying to find themselves the best deal possible. Sometimes, this happens to line up mutually beneficially, just perfect. Most times however, tour agencies are just looking to make a buck off of their “clients.” Do yourself a favor and do a little homework before buying a ticket- that way you will still have the freedom to travel again some day in the future.

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Will Bad Credit Ruin My Christmas?

If you’ve got a bad credit rating, then you may think that you are facing a bleak Christmas, particularly if you are short on money in the run up to the festive season. You’re not alone in this – there are hundreds of thousands of other people who’ve made mistakes in the past who are now finding out that it is going to be difficult for them to be offered loans, credit cards, mobile phone contracts and other forms of credit. Sometimes, this is through no fault of their own – they may never have been late with a repayment but might not be on the electoral roll or have never taken out credit in the past.

You may have run your financial affairs responsibly for years but something you did up to six years ago means that the major financial institutions regard you as too high a risk to lend The good news is that there are many other options for securing a loan or a credit card if you are suffering from a bad credit record. Because the major banks have failed to return lending to the levels seen before the financial crisis, the market for alternative lending is very large and many lenders are quite happy to help people who have impaired or bad credit ratings.

Bad Credit

There is a huge array of financial products on the market for those with bad credit – many of them with reasonable interest rates, large capital sums on offer and favourable terms for repayment. And, even better, these are available quickly and can be in your bank account in time to cover all the costs of Christmas.

If you suspect or know that your credit rating means your bank is not going to lend you money in time for the festivities, what are your alternatives?

Family or friends

This should be your first port of call at this time of year. The very high interest rates that the press made such a fuss about a year or two ago may be restricted to a few lenders, but if a member of your family or a close friend is in a position to lend you money, the chances are that you will pay less in interest than if you search for a sub-prime loan. This is because even though these lenders cater specifically for people with impaired credit ratings, they are still operating in a market that is riskier than those who only offer credit to people with excellent financial records.

Asking your parents or a friend to lend you some money might be uncomfortable, but those close to you are often only too willing to help out, particularly if you need money in a hurry – which most of us do at Christmas. It is likely that you’ll be able to come to an agreement on an affordable rate of interest and that your family member or friend will give you the right amount of time to repay the loan.

Unsecured loans

There are now thousands of lenders who will consider applications from people with bad credit records. These loans will usually have higher interest repayments than those offered to people with excellent credit records but, in most cases, they are an affordable means of raising money to fund Christmas – which, for most people, is the most expensive time of the year. Because these loans are not secured against property, you won’t be risking your home if you apply for one and because there are so many lenders, it’s a good idea to properly assess the market, comparing interest rates and repayment schedules to secure the best deal. Don’t worry if one lender rejects your application, there are many others to consider. It’s worth using the eligibility calculators which many lenders now offer – these let you see how likely it is that your application will be accepted without a search being recorded on your credit file.

Credit cards

Credit cards are the safest and easiest way to pay for Christmas presents – they offer you instant funds – which you can use at virtually every store and online retailer while protecting you should something go awry with the purchase. Unfortunately, for many people with poor credit ratings, the credit cards offered by the high street banks are either not available or come with very high interest rates. Happily there are now a variety of cards on the market designed specifically for people with bad credit ratings. These cards come with higher interest rates but as well as helping out at Christmas, can help you to reestablish a good credit record. Although they come with lower credit limits, the amounts on offer should ensure that Christmas wouldn’t be such a stretch this year.

A secured loan

If you own your own home but have been unable to secure a loan from the bank, then you will find that you have many more options than somebody who rents or is in social housing.

Lenders are much more inclined to offer credit to homeowners who can put their properties up as security – which means a lower risk that the loan will not be repaid. Such secured or homeowner loans have lower interest rates and longer schedules to repay them than unsecured loans for people with bad credit. If you are looking to borrow a much more substantial sum – typically in excess of £15,000 – then a homeowner loan will give you more flexibility.

There are disadvantages compared with unsecured loans, however. Because you are putting up your home as security, you may face repossession should you fail to make your repayments regularly. If you’re considering one of these loans, make sure that you are clear about the total amount of interest that you will pay because, if you are only looking for a smaller sum, you might have to pay a much larger amount over the term of the loan than if you did by taking out a smaller, unsecured loan.

Credit unions

There has been a rapid growth in credit unions in recent years. They serve local communities and offer both savings accounts and loans. The disadvantage if you need money quickly in the run up to Christmas is that most credit unions ask new members to become savers first.

Payday loans

If it’s just a few hundred pounds that you need to get you through Christmas, a payday loan may prove to be the most affordable option despite the lurid headlines these loans attracted a few years ago. The market is now highly regulated and interest charges and the number of times that a loan can be rolled over are restricted. If you want to borrow, say, £200 for a month, you might have to repay a total of £250 meaning a real interest rate of 25% on the total loan – not the four-figure APR that is advertised.

Article provided by Mike James, an independent content writer working in the financial sector for companies like Solution Loans, who were consulted over the information contained in this piece.

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Spending A Frugal Christmas This Year

Christmas without gifts is somehow unimaginable. Gifts is one of the most essential element of Christmas Celebration. It is a nice way to celebrate this holy occasion but it comes with a price. Not all parents can afford the expensive and the huge number of gifts required for all the people they know starting from family to friends and neighbors and also pets! This expenditure leads parents down the debt path and puts a hole in their financial standing. So without going broke this year, try out a frugal Christmas.

frugal way to celebrate Christmas won’t be similar to the other years it won’t be regretted. The children might by disappointed a bit since they will miss their expensive toys but thinking about that the other way round they will only knick knacking with them for less than a month and it will return to the back of the closet as every other gifts. Unfordable gifts should always be avoided to save yourself from a financial gap.

frugal-christmas

Frugal Christmas could be fun, exiting and unique. Here are a few tips how it would be successful and save you money as well as avoid going into debt :

Go DIY This Year

Instead of spending thousands of dollars into some pretty gift, try to make your own gifts. Homemade gifts shows much more affection than bought ones. The process of producing the gifts altogether with your family gives an awesome feeling which can’t be put into words. You can find several interesting “DIY” things to make over the Internet which needs very much affordable materials and save you a lot.

Put A Full Stop To Names

Restrict buying gifts for every single one you know in this World. Do a lottery of something of that sort to pick the exact number of people for whom you can afford gifts. It will be exiting for luck to decide who should get the gift and who does not!

Buy Gifts At Discounts

You will be able to find a number of deals across stores and online stores at this time of the year. Research thoroughly to get the best deals and save a hell lot of money.

Do Some Social Work

This year try helping people who undergoes a dark Christmas. Do some charity work. Instead of buying new things in Christmas try donating the old ones to helpless people and let them have a nice Christmas eve this year.
It will drag peace to you along with your family.

These were some frugal ways to spend Christmas this year without going into debt or getting broke through those expensive gifts. It is not the worst thing to buy gifts for your young ones in the most special day in the year but getting into arrears for year after year and sacrificing your financial position for them can be bad thing. So try out Frugal Christmas, let others know as well about it and make this Xmas the most memorable one of your life.

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