Debt Consolidation Articles
Drop VAT on energy, site urges
The government should axe VAT on domestic fuel, price comparison website uSwitch.com has argued.
At present, VAT is charged at five per cent on fuel and the site has argued this is unfair as people do not pay the tax on water and most foods.
It said with the average energy bill at £1,259, the removal of the tax would cut the typical charge by £60 a year, compared with the £34 reduction the recent price cuts announced by suppliers would bring.
Such reductions may provide some help for those struggling with debt.
However, although VAT on domestic fuel was first imposed in the 1990s when Kenneth Clarke was chancellor, it is now a European Union law that there should be a minimum purchase tax on energy of five per cent, meaning uSwitch would need to take its campaign to Brussels.
This means that it is not within the UK governments remit to unilaterally lower or abolish this tax.
Want to Build Wealth, and be Secure? Focus on Learning Instead of Earning!
I just finished reading Robert Kiyosakis book, Rich Dads Increase Your Financial I.Q.: Get Smarter with Your Money and the one major takeaway is that too many people never realize their true financial potential because the get in their own way! Many people focus on earning more money when they should be focuses their time and energy on learning and increasing their money I.Q..
* Note: Kiyosaki discusses 5 aspects of Financial I.Q. in his book, but Im just going to focus on this one, general concept here.
The learning discussed in the book is not a formal education. In fact, thats one of the mistakes that many people make amassing huge amounts of debt going to college in the hopes of finding a good job and their place on the financial treadmill, only for some its more like a hamster wheel.
So what does focus on learning mean if not the traditional, middle class mantra go to college to get a good job?
It means taking risks and chances while youre young, and always learning from your mistakes as well as your successes.
Blue Monday 2012- the most depressing day of the year?
As the date of ‘Blue Monday’ is calculated, we offer you some simple steps you can take to lessen the blues.
The January blues have suddenly become a lot more specific, being at their most vivid on 16th January according to a formula used to calculate the most depressing day of the year. This takes into account the weather, the distance from Christmas, the level of individual debt and failure of New Year’s resolutions; ‘Blue Monday’ is decided.
The outlook becomes even worse when you think about the large gap between most people’s December and January payday, combined with the delivery of active credit card users’ January statements.
The current economic climate means that Blue Monday is going to affect more demographics than ever before youth unemployment over a million, house repossessions forecast to rise again, to name but a few bleak statistics- it could feel that these January pressures are reaching their peak.
The outlook isn’t all doom and gloom though and there are steps you can take to put you on the right track.
Set an
Debt Management Solutions
When you find yourself in a financial situation where paying your bills leaves you with no money to live your life, then you are in a position to look for debt management plans. You have to have money to cover the cost of the unexpected, and if you currently are paying everything you make on the debts you have, then you are going to really be in a fix when something like your car, or your refrigerator quits working.
The first thing you need to do is look at the bills you have to pay each month. Nine times out of ten the majority of them are credit card bills, or other accessory bills. If you are making just the minimum payment on those credit cards each month you are not making any headway. You have to pay more than the minimum to ever make the bill get paid off.
Try and see if you have any bills that can be reduced. You may have to learn to live without cable for a few months, or even to reduce the amount of cell phone usage you have. Read more…
Financial unhappiness increases
More people are unhappy about their finances now than they were a year ago, a new survey has found.
The poll by First Direct revealed 48 per cent of consumers were dissatisfied with their financial state in 2011, compared with 36 per cent the previous year.
Not paying off more debt was the greatest regret for over half a year ago, a concern pushed into second place by a failure to save more this time, but still the biggest worry for 33 per cent.
Other concerns included spending too much on a partner, lending to – or borrowing from – family members and paying for an expensive holiday.
However, the first and third of these concerns were an issue for only half as many people as last year, which may suggest some are budgeting more carefully than they used to.
Those whose debt problems are rising include a minority of tenants, who are failing to cope with higher rents and are falling into arrears, according to the Tenant Arrears Tracker by Templeton LPA.
It said over 78,000 people are now two months or more behind with rent, an 18 per cent rise in the past year.
Who Are Qualified For First Home Buyer Loans
You are at the time of your life when you no longer want to pay monthly rent. You want to finally have a house that you can declare your own. It is only natural that you desire to have a place that is your domain and your kingdom, no matter how small or how big it may be.
Having your very own home is so much better than having to answer to a landlord. The money you pay your landlord on a monthly basis (for the rent) will go to waste unlike if you have secured a home loan, all of your money will go directly to paying your house.
In this article, we will discuss who are qualified to secure first home buyer loans.
Men and women are qualified to apply for such a loan if they have not yet owned a house or if they have had no success in looking for their house in the last three (3) years. People who work and have moderate to low income are those who are eligible.