No matter how careful and responsible you are with your finances, unfortunately, there is sometimes no escape from unexpected expenses. At some point in their lives, most people will face that dreaded moment when their car just gives out in the middle of running errands, or when they are about to take a shower before work and find that there’s no hot water. In these instances, the prospect of having to club together money to cover these unexpected expenses can be emotionally and financially stressful, which is why it is important to think of a few different plans of action in case you are faced with a similar situation.
Create an emergency fund
Having an emergency fund is the best preventative measure you can take in case of unexpected expenses cropping up. This is a dedicated amount of money which you put away only to be used for emergencies, such as if you don’t have enough money to pay your rent, or if you need to get your car fixed when it breaks down. You could either save this money in a dedicated savings account or keep it as a liquid asset within the home. The more money that you can save in this capacity, the better because this will help you to avoid amounting huge debts that you don’t have the financial means to deal with.
Borrow the money
While having to borrow money to cover last minute costs is not ideal, the interesting consumer index by city from … Read More . . .
A pension is a tax-efficient way to save for retirement and give you a source of income in the future. There are different types of UK pension schemes, and each works differently. Examples include state pension schemes and private pension plans. The former provide limited financial support while private pension schemes allow you to build a larger fund for retirement. Read on to learn more about the different types of pensions.
Otherwise known as occupational pensions these are set up by employers to provide retirement benefits. It allows employees to accumulate a pension fund using contributions based on a salary percentage. The employer is required to match your contributions.
Self-invested personal pension
This is a personal pension plan that allows you the freedom to control and manage your investment decisions. You can purchase a variety of assets including stocks and shares.
Additional voluntary contribution
Members of occupational pension schemes can make payments above the usual level of contributions. These are known as additional voluntary contributions and provide additional pension benefits.
This pension is arranged by you and usually attracts a tax relief (up to annual limits). Up to 25% of your retirement qualifies as a tax-free cash lump sum when you retire. The remainder of the pension can be invested to produce an income directly from the fund or used to purchase an annuity. You can also withdraw the entire fund. In this case, it is considered a taxable lump sum.
This works like … Read More . . .
There are many ways to spend your money and using it on transaction or to pay something, however the best way to provide payment in specific number or in huge amount of money. Therefore, paper checks are often used to provide payment or doing transactions. While you might get a small number of check when you are open a checking account, your paper check could run out and you will need to order a new batch of check. You can go to bank or visit third party vendor to order your check. Therefore, today I will provide you a step by step guide on how to order Blank check Paper for the first time and ensure that you are able to order check for the future as much or as little as you want.
The first method is getting checks from your banks. You can simply order checks directly from your bank. While they may have your Bank Logo, this kind of check are easy to order directly through your bank. For the first time, if you are opening account on bank, you might get a limited quantity of checks. However, you can order checks immediately at your bank when you open your account to ensure that you are getting more checks than usual. If your bank is having Mobile application or M-banking, there is a high chance that you are able to get checks by simply order checks from this application and get checks delivered into your home.
You … Read More . . .