My UK Finance » Finances http://www.myukfinance.com UK Finance Blog Fri, 13 Jan 2012 04:52:55 +0000 en hourly 1 http://wordpress.org/?v=3.0.4 The New Car With All The Trimmings http://www.myukfinance.com/the-new-car-with-all-the-trimmings http://www.myukfinance.com/the-new-car-with-all-the-trimmings#comments Sun, 28 Aug 2011 15:29:15 +0000 admin http://www.myukfinance.com/the-new-car-with-all-the-trimmings              One of the most exciting experiences for someone in their life is buying their first new car. There is just such a sense of accomplishment when you do this that is hard to be matched, plus you get to drive home in a nice brand new car. However, people can be so caught up in this hype of buying their first car that they can miss crucial steps in the decision making process. In the world today, it can be said that it has grown to be very difficult to survive without a car or effective way of transportation. Something like this can make or break whether or not you get a big job or promotion that requires a longer trip that you cannot make.

            Do not be stuck in this kind of situation, purchase a car but in a smart and prepared manner. Make sure that you always have insurance, yes it will be expensive, but it is crucial to the safety of you and your wallet in the future. Along with this, purchasing coverage for your car in case of a breakdown or other complication within it is also crucial. There is no excuse for not being able to get it, because with as many online services like carbreakdowncover.com or agencies like GEICO or All State there are out there, it’s hard not to stumble upon a deal.

            So before you get overexcited with the fact that you will be styling in your shiny new sports car, take the time to prepare yourself and balance your finances for the investment that you are about to make. Above all, be careful and smart driving and create a safer environment for everyone. 

]]> http://www.myukfinance.com/the-new-car-with-all-the-trimmings/feed 0 How To Increase The Value Of Your Savings Account http://www.myukfinance.com/how-to-increase-the-value-of-your-savings-account http://www.myukfinance.com/how-to-increase-the-value-of-your-savings-account#comments Wed, 22 Jul 2009 17:32:54 +0000 admin http://www.myukfinance.com/?p=30 savings2Everyone knows how important it is to have a savings account. Whether you’re saving money for retirement, an emergency or to purchase something that you want or need, a savings can be invaluable. But, there is one time when your savings account can actually be worth much more money that what your balance reads.

It can literally take you years, or decades to pay off high credit card balances, especially if you’re only able to make the minimum payment each month. And, because of the high interest associated with most credit cards, when you do make a payment, very little of it is deducted from your actual balance.

There is just no sense in paying all of that interest every month when you have enough in a savings account to pay off the balance in full. When you use your savings account to pay off a high interest debt, you could be literally doubling your money in the savings you’ll see on that interest.

With a credit card balance of just $2,000 at about 18 percent interest and a  minimum payment of $155, it will take you 5 years to pay off the balance. When you multiply your payment by 60 months, you’ll realize that you’ll be paying over $9,000 for the $2,000 you charges. It just doesn’t make good financial sense to have enough in savings to pay off a credit card and not do it!

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