Finance Solution

Archive for December, 2009

Car insurance is compulsory,  but it’s not necessary to pay more than you have to. A few simple steps combined with some time surfing for competitive car insurance rates really can save you serious money at renewal time.

<b>Step 1 – Cut the Risk and Cut the Cost</b>
The easiest way to cut your car insurance premiums is to cut the risk and accept a higher voluntary excess. An insurer’s standard excess may be £100 but if you meet the first £250 of any claim, you’ll see a reduction in your premium. This is because you’re taking on more of the risk so you get a discount. But it’s a gamble, be aware that you might have to meet the cost of a broken window after an attempted theft or a bill for repairing bodywork damage after a car park crunch.

<b>Step 2 – Security Means Savings</b>
Fitting security devices can also result in cheap car insurance premiums. All major insurers insist on Thatcham rated security equipment, usually a minimum of an alarm. If you live in a high-risk area for car crime, it makes sense to fit extra security. It saves you money when your insurance renewal is due and gives you extra peace of mind.

<b>Step 3 – Annual Mileage, Less Means More in Your Pocket</b>
If your annual mileage is, 5,000 miles or less, ask insurers if they offer discounts for agreed mileage restrictions.

<b>Step 4 – Named Drivers Trick</b>
Adding a named driver to your policy can increase or reduce your premiums depending upon the named drivers age, sex and driving record. Adding a young driver will increase your premiums, particularly with a limited or poor driving record. However, adding a driver over 30 years old with a long and clean driving record can cut premiums, particularly if the named driver is female!

<b>Step 5 – Shop Around and Save Even More</b>
The biggest car insurance savings come from shopping around. There can be massive differences between the lowest and highest car insurance quotes for exactly the same car and driver(s). Start off using good comparitive online quotation sites, take their best quotes and go direct to the cheapest car insurance company for more specific quotes.

So next time your renewal quote arrives, don’t just accept it and give your money away to the insurance company. Use the steps above and get the right cover at the right price.

Low interest credit cards are available as alternatives to those with middle-of-the-road to very high interest rates. If you have a credit card with a high interest rate anywhere from 17% to 24% or higher, then you may not realize that it is costing you hundreds and even thousands of dollars every year in interest alone. Once you understand your credit and how it is impacting your debt situation, you will see how low interest or even 0% APR credit cards can be a much better solution.

Gather Your Statements

Collect your statements for all high and low interest credit cards. Include Visa, MasterCard, American Express, Discover, department stores, retailers, grocers and any other revolving accounts. For each bill, make a record of the total balance, minimum payment amount and interest rate. You might also want to include your estimated monthly payment (if it’s more or less than the minimum) and the monthly finance charge.

Compare Cards

If you compare the numbers for each card, you will be able to see which ones are costing you the most money. The higher the APR and the higher the balance, the more you will end up paying in interest in the long run. And, if you only pay small amounts of what you owe, you can go on paying for over 20 years. Now you can see the benefit of having a low interest credit card.

Categorize Your Debt

Once you’ve figured out which are the low interest credit cards and which are high, you need to categorize them from highest to lowest. Then reorder them, if necessary, based on the estimated amount of interest you would pay for the entire year. In other words, if you have a high rate card with a low balance, the overall interest may be less than a low interest credit card with a very high balance. This step will help you to focus on the cards that are taking the most of your hard earned money.

Negotiate With Your Bank

Before you cut up your plastic or send it through the paper cutter, call you current credit card company. Many consumers don’t realize it, but companies would rather lower your interest rate than lose your business. Tell them that you’ve been offered a better deal on a low interest credit card. They may just match that offer, saving you the time and effort used to close and open a new card.

Shop Around For 0% APR Credit Cards

Some banks just won’t budge. You may have to do some digging to get a low interest credit card. Check online, talk to your local bank and sort through those direct mail offers. Ask your friends, family, co-workers and other acquaintances to learn about the cards they use.

Carefully Read the Fine Print

Many cards look too-good-to-be-true – 0% interest on transfers, lifetime low rate, frequent flyer miles, insurance benefits, etc. Often times, the offers are just that. 0% offers may only be applied to a limited amount or during a specific time frame. Fixed rates may increase if you so much as miss a single payment and so on. Pay close attention to all terms and policies, making sure to read the fine print. Don’t accept a low interest credit card until you are sure you understand all that is involved.

Maintain Good Credit

Now you can stop throwing money down the drain. Treasure your low interest or 0% APR credit card and maintain your good credit rating. Pay more than the minimum amounts and don’t get behind. Just as fast as you were able to lower your APR, it could jump up to astounding numbers.

Now days it is nearly impossible today for the average family to thrive on a single income. However, the skyrocketing cost of child care makes it difficult for both parents to work. Fortunately, the internet has made making money online a suitable income option without the need for commuting or day care.

Making money online means much more than entering contests and sweepstakes; it is not uncommon to see a professional create a home business in computer programming, accounting, medical billing, and many other fields. Making money online has never been easier! All that is required is a computer, a reliable internet connection, and an idea.

Often times, the most challenging task involved in making money online is coming up with the perfect idea. We’re not all computer programmers, web developers, or content writers. However, we all have some talent or skill that others will pay for. Making money online is as simple as figuring out what you do well and deciding how to leverage that talent into an opportunity.

For example, a friend of mine had little computer experience, but was interested in making money online. I suggested that she think about what she enjoyed doing and using that as the basis for her home business. She said that her greatest skill was the creation of unique homemade jewelry items. She hired another home business professional (a web designer) to build a website for her and she is now making money online selling her jewelry creations.

Making money online by starting a home business is not the daunting task that many budding entrepreneurs assume. If you carefully consider your skills and talents and figure out how to leverage those abilities on the internet, you’ll be making money online in no time!