Cash Genie is committed to responsible lending procedures, and it’s a business principle that people should not have to come back and use the short-term loan services again and again. Apart from anything else, it’s not great commercial sense, because encouraging bad financial practices means that clients are more likely to default on their debts! So a part of the service is helping customers to organise their finances in such a way that they won’t need to look for such loans in the future.
The best way to do this is to look at your spending: all of it. It sounds like a big deal, but it can make a massive difference. Break it down if it seems daunting. First, check all of your major outgoings: rent or mortgage, bills, utilities, phone, internet, credit cards, council tax and so on. It may be that you can save money already by switching providers for one of these. In the case of a mortgage, that could save you hundreds of pounds or more a year. Others might mean you have an extra ten or twenty quid at the end of the month – still worthwhile.
But the most surprising differences are likely to come from the expenses you barely register. These are the trivial, cumulative expenditures you clock up over the week. When you look at them over the course of the month and year, they can make a huge difference. Getting a coffee on the way to work every morning? That’s only £2 or so, right? But that’s £10 a week, £40 a month or getting on for £500 a year. That could represent an instalment on your mortgage or a month’s rent. Similarly, buying a sandwich and drink every day instead of making lunch at home? Easy another £1,000 a year. The same goes for the odd night out: it’s very easy to lose track.
Cash Genie recommends keeping an eye on these minor expenses. It doesn’t mean you have to deny yourself completely – no one’s saying that you shouldn’t enjoy the odd treat or lunch out. What’s important is that you understand what these are actually costing you. Once you know that, you can decide whether the convenience or treat is really worth it, if the net result is staying in debt (and therefore having to pay more through interest) in the end. Also, if you’ve got debts you need to pay off, this can be a great motivator. If a couple of lattes a week fewer means peace of mind in the long term, then it’s no contest.
Please visit http://www.cashgenie.co.uk/ for further information about this topic.
http://www.cashgenie.co.uk/
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