Thinking Money | Free Financial Advice and Tips

Make Money From Your Old Mobiles

Posted on 31. Mar, 2010.

Mobile phones have become a basic necessity of modern life, especially with teenagers, who follow the trends of technological advances much closer than other groups. Since it would seem that we are more interested in new mobile phones rather than old ones, the older ones soon find themselves obsolete and thrown out.

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Top 5 Ways to Alleviate Your Financial Stress

Posted on 29. Mar, 2010.

Managing money matters is no easy task and we can often quickly lose our way. Bills, debts, expenses, they can swamp us if we’re not careful and the stress they can rain down on our heads is detrimental to our health and well-being. Here are five ways to help alleviate your financial stress.

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10 Alternative Money-Saving Tips

Posted on 22. Mar, 2010.

As the world faces the daily barrage of bad news about the economic downturn, we are all looking for ways to make our Pounds and Euros go further. What follows are 10 alternative money-saving tips that you can begin right now to help you face the economic crunch:

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Can you get an IVA in case you are unemployed?

Posted on 18. Mar, 2010.

Do you have a serious debt problem and you cannot get over it? Even worse than that, have you recently got unemployed? If it is so, you are very likely to need some kind of debt-elimination solution urgently. You should act as soon as possible, because debts are especially dangerous if the debtor suddenly becomes unemployed. In this situation, the debtor does not have the necessary funds to make the monthly payments that would be needed in order to get rid of debts. (more…)

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Weekend Spending Suggests Credit Card Use Is Rapidly Declining

Posted on 22. Dec, 2009.

Despite most people’s finances not being at their best, it is hard to resist the allure of the the holiday season.

Internet sales have increased by 18% since 2008. November the 29th, now dubbed ‘Cyber Sunday’, saw British consumers spend approximately £320million over in the internet to purchase holiday gifts (and the occasional personal treat). On the 30th, more tenuously called ‘Mega Monday’, VISA expects £2.4 million’s worth of purchases will take place. By Christmas Day itself, almost £4.6 billion is likely to be spent on the season of goodwill. Last year, Amazon’s busiest sales day saw almost 16 order per second – this year looks set to break this record. Internet trading group IMRG predicts the online sales totals to break £13 billion.

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Step by Step Process to Reduce your Credit Card Interest Rates

Posted on 27. Nov, 2009.

Are your credit card interest rates making it challenging to pay your minimum payments? If so, it is time to proactively work to reduce them. Contrary to what many consumers believe, there are proven methods that you can employ to reduce the interest rates you are currently paying on your credit cards.

1. 1.Call Your Credit Card Company - While this may seem like common sense, many consumers fail to take this important step. Ask for a customer service representative or department manager and let them know that you are currently shopping for lower credit card offers. Ask what their current, best interest rate offer for you is. Once they provide you with a number, let them know that you will be back in touch with them. You will often be surprised at how much lower your current credit card company will go with your interest rate just with a simple phone call.
2. 2. Shop Interest Rates - Now that you know what your current credit card companies are willing to offer you in terms of interest rates, begin to shop around with other companies to see what they will offer. Search for 0% introductory interest rate offers, begin to collect any promotional credit card offers in the mail and even speak with your current banking professional to see what kind of credit card interest rate offer they may be able to offer you. Compare the interest rate offers that you have collected to determine whether or not they are lower than what your current credit card companies are willing to offer you. But, before you make a switch, also consider a consolidation loan.
3. 3. Consider a Consolidation Loan - The next step in the process is to review your options for a consolidation loan. These loans are often offered through your current financial institution. Set aside some time to speak with your current bank officer and communicate your desire to consolidate your current credit cards into a single loan at a lower interest rate, in order to pay off the consumer debt off quicker.
4. 4. Compare and Contrast - Now that you have collected information about all of your available options, you can compare and contrast the interest rates and the offers. In addition to the interest rates, you also want to take time to review how long the promotional or lower interest rates are offered. Also review whether new purchases will qualify for the reduced interest rates or whether they only apply to balance transfers. With all of this information, you can make the best financial decision regarding your current credit card interest rates.

Working through these steps will not only help you to lower your current credit card interest rates, but will also lower your monthly minimum payment amounts and the total amount of time it takes you to repay your consumer debts.

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UK Banks to improve transparency in service charges

Posted on 20. Oct, 2009.

Banks in the UK have agreed to ensure that their charges on current accounts are more transparent and easier to understand. The objective is to make consumers better informed to make choices on what the type of accounts to operate and with what bank. (more…)

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New Credit Card Rewards

Posted on 30. Sep, 2009.

Traditionally, credit card company reward programs have featured airline mileage, gift certificates, and cash back for customers who spend more on their cards to get top ups. However, today card companies are offering new sets of incentives perhaps in response to the implementation of the first set of rules by credit card bill last week. (more…)

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Credit Card Reform have began with mixed response

Posted on 28. Sep, 2009.

Last Friday, Credit Card companies began adjusting to new ways of doing business. First new rule: they will now have to notify their customers not less than 45 days ahead of any interest rate increases unlike previously when only 25 days advance notice was all that was required. Customers who are not happy with any changes in the interest rate are free to close their accounts and pay their remaining balances based on the old interest rate. (more…)

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BOA to open new branches in China

Posted on 18. Sep, 2009.

Plans are far advanced for the Bank of America Corp, to establish its commercial and investment banking business in China – the world’s fastest-growing economy. (more…)

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