4 Simple Tips To Save Money And Clear Debt

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No matter where you are on your financial journey, there is always time to make a plan and look for ways to save.

You might have debt to clear or might simply want to add to your rainy day fund.

You could use extra money to achieve your career or business goals, or mean that you can get on the way to financial freedom.

Saving money and looking for ways to save is always a good thing!

save money and clear debt

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With all of that in mind, here are some simple and everyday kinds of things that can help you on your way to saving money.

On their own, none of these things are going to be life-changing or saving the big bucks on their own.

But think about them over time; if you can save $50 a month every year for five years, that is $3000 right there extra.

So think of these as long term savings goals, and make a little effort to implement them in your life, and it can make a big difference over time.

Whatever your savings goals are, good luck!

1.  Move Bank Accounts

Not all banks are created equal, and they can have some varying interest rates, as you can see in this article: https://investopedia.com/banks-interest-rates-savings-accounts/.

So to make the most of your money, you need to be making sure that you are putting your money in an account that is going to pay off.

You can even get some switching bonuses, depending on which bank you switch to.

2.  Use Less Electricity

Using less electricity is not only good for the environment, but it can be really good for your savings too.

Electricity bills can really add up, but there are things that you can do.

Switch off your devices when not using them rather than putting them on standby.

You know that red light that you see on standby, that is powered by electricity, so it still uses it up!

You could also air dry clothes instead of using a dryer, as well as cut down on how often you charge devices.

save money and clear debt

3.  Get Cheaper Car Insurance

If you are a car owner, you will know that car insurance is one of the ‘hidden’ costs of running a car, and if you’re not careful and just auto renew, you can be paying more than you need to.

The good news is that there are plenty of comparison sites online like this one, https://cheapautoinsurance.co/cheap-car-insurance-quotes/, so you can search and find a quote that is going to suit your requirements and your budget.

It is a small thing, but when you have to do it all in one lump sum, the less the better, right?

4.  Sleep On It For Large Purchases

When it comes to spending money, there will be things that we need to spend money on.

But when it comes to the larger ticket items, think about spending taking some time out and ‘sleeping on it’ before buying.

In the moment something might sense. But taking time out to think about it can make a difference and you may realize that you don’t need to spend that much.

How do you save money and clear debt?  Help us out by commenting below!

Best,

[a contributed post]

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4 Simple Tips To Save Money And Clear Debt

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The White Lies Which Will Blacken Your Loan Application

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The White Lies Which Will Blacken Your Loan Application

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Even if you’ve done everything possible to stay on top with money, there may come a time when you face taking out a loan.

Even something as fundamental as buying a house requires a hefty mortgage which, in itself, is a kind of loan.

That’s part of the reason around 80% of Americans are now facing a debt of some sort.

You could say that things on the loan front are getting a little out of control.

THE WHITE LIES WHICH WILL BLACKEN YOUR LOAN APPLICATION

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If you’ve never been in money trouble before, though, a loan application can be daunting.

Suddenly, you’ll need to call on information you would never have thought relevant.

In many ways, loan screening is all about checking if you’re a viable option.

When that piece of paper is in front of you, though, it’s not unusual to panic and tell a few white lies. You need that money, right?

Plus, you probably figure that the chances of the company checking those things are small.

Studies suggest that around 1 in 4 people take this risk. Sadly, 86% of them are found out.

The fact is that lying on an application is a form of fraud.

At the very least, you won’t be approved due to your dishonesty.

If facts like these come out after your acceptance, you could find yourself in legal hot water. And, that can have severe repercussions.

Before you make this mistake, then, consider the most common loan lies which you don’t want to tell.

The Earning Exaggeration

Exaggerations about earning are, by far, the most common loan lies.

Many people panic and add at least something to their annual incomes during applications.

Most assume that the loan company won’t call their employer to check.

Obviously, something like a mortgage is a different matter. For that amount of money, a bank will need to do checks like these.

But, for a smaller loan of a few grand, the chances are that they’ll take you at your word.

The trouble is that lying about income is about the worst idea you could have. That’s because the loan amount is often decided based off how much you earn. By lying here, you’re agreeing to an amount you stand no chance at paying back.

And, that’s sure to come back and bite you.

As soon as you start missing payments, your debt will begin spiraling out of control.

To make matters worse, lying on your application means you may not even be able to file for bankruptcy.

That’s because lies can leave you with a nondischargeable debt if they come out, and you can bet they will. Then, you would have to look for lawyers who deal with bankruptcy court claims to fight your corner.

This can be a painful process, and there’s still no guarantee you’ll be able to clear your name. All because you added a few grand to your income.

Think twice, then, and turn to your pay packets to get a more accurate figure.

the white lies which will blacken your loan application

‘Yes, Of Course I Have A Job.’

Surprisingly, many people also lie about employment status on loan applications.

This fib has many of the same implications as those earning exaggerations, but so much worse.

Even if you have ample savings in the bank, you’re going to struggle to pay back a loan with no more money coming in.

That’s the primary reason why lenders don’t look twice at unemployed individuals.

Even if they don’t check the truth of your claims upfront, something like this will soon come out. And, when it does, you’re the one who’s going to be out of pocket.

Even worse, you may then struggle to get a job in the future because of issues with debt or legal proceedings.

That makes this a vicious cycle which you want to avoid at all costs.

Married?  Me?

Many people also opt to tell a little lie about their marital status on their loan applications.

This is because married couples get different kinds of financial help, such as various tax breaks.

The strength of two incomes is also a far more appealing prospect than one. And, let’s be honest; no bank is going to ask for your marriage certificate.

Still, a lie like this is one of the easiest to catch you out on.

That’s because it involves creating a whole person who doesn’t exist. At some stage, the bank manager is going to want to meet your imagined spouse. If nothing else, they’ll need to sign paperwork and the like. And, that’s sure to get pretty awkward pretty fast.

To add insult to injury, a lie like this isn’t all that white.

It’s actually a severe case of fraud which could even see you doing time behind bars.

So, tick the ‘single’ box already, and move on with your day.

the white lies which will blacken your loan application

Age Is Definitely An Issue

Many loan application lies also involve age.

Often, an applicant will say that they’re older than they are.

This is probably because we assume that a bank will see us as more trustworthy the older we are. And, there is some truth to that. A middle-aged applicant with a clean financial history is sure to be more appealing than someone in their early twenties.

Again, though, there’s little chance of your getting away with something like this.

The majority of loan applications require identification at some stage. The bad news is that every form of ID has your date of birth clearly stated on it.

As such, you can guarantee that this lie will unravel before you’re accepted.

Rather than taking a punt on your actual age, then, this will ensure that you don’t get anywhere near that money.

While legal action is unlikely given that you won’t have taken that money, this will see you blacklisted by near enough every other loan company. And, that could see you struggling to get by for the rest of your life.

All because you chose to add five pointless years onto that application. It hardly seems worth it, does it?

Have you ever lied on a loan application?  What happened?  Comment below!

Don’t lie!

[a contributed post]

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4 Simple Tips To Save Money And Clear Debt

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The White Lies Which Will Blacken Your Loan Application

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If You Hide Every Time The Door Goes, You Know Your Debt Has Gone Too Far

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No matter how good we are with money, debt has a habit of sneaking up.

One missed payment can snowball into endless people chasing you for what you owe.

It’s a stressful experience and, as can be seen from sites like www.fool.com, it’s one an average 80% of Americans face.

That’s no surprise given that we start with education debts, then have to take out credit cards and loans to manage the cost of living.

By the time you’re in your thirties, debt could have a firm grip no matter how good your money management skills.

debt has gone too far

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This is a fact which many of us choose to ignore.

It may be that, over the years, you’ve become put those debt notices in a drawer.

Perhaps you’ve just about managed to pay the minimum amount on your bills.

But, the fact that you’re reading this post suggests that you can’t keep your head above those debt waters any longer.

Do you reject every call on your phone? Do you dive behind the couch whenever your door goes?

If yes, it’s a sure sign that your debt has gone too far.

Keep on ignoring them, and you’re going to make yourself miserable.  You could even find yourself on the wrong side of a debt collection agency.

We’ve all seen Confessions of a Shopaholic, right? You don’t want to end up with Derek Smeath on your back.  Private ringtone or not, he got our Shopaholic in the end.

To make matters worse, ignoring debts can see you facing legal action and fines which cost more than you owed in the first place.

You could say, then, that your avoidance here is a backwards way of dealing with the issue.

It’s past time you got out from behind the sofa and dealt with things in the following ways.

Face The Fear

Your avoidance here suggests some level of fear.

That’s fair enough given that issues with money are some of the most frightening we face.

But, not answering the door because you don’t want to face up to this is no way to live.  It’s a sure sign that you’re letting your fears take over your rational ability to deal with debt.

As such, the first way to get around the issue is to face those fears head-on.  Answer the door. Take the phone call.

You may imagine some dark, sinister person shouting at you on the other end, but that’s not the reality.

The people who are chasing you are just doing their jobs. They aren’t going to shout at you or hurt you. They want you to pay what you owe.

More often than not, you’ll find that answering the door can see you settling on a manageable payment plan.

In many ways, we have the regularity of debt to thank for that.

Endless amounts of us have experienced debt. The people knocking on your door right now may have debts or their own to deal with.

As such, they probably have every sympathy for your plight.

That doesn’t mean they can stop chasing you, but it does mean that they’ll treat you well when you finally let them in.

More often than not, you may find they’re willing to drop some of your debt if you promise to start paying something.

That’s the best scenario you can hope for, and it’s one which won’t be possible unless you face that fear already.

If you’re feeling brave, pick up the phone and make the first move.

This can lighten a load off your mind, as well as showing that you’re willing and ready to cooperate.

Get Organized

The only reason those companies are having to chase you is because you’ve missed payment dates.

And, the chances are that you’ve missed payment dates because you aren’t on top with organization.

If you had paid every bill you owed on time, these companies would never have any reason to chase you down like this.

And, the moment you start paying again is the moment you can start answering your phone again with ease.

So, it’s worth developing a decent organization system to get back on track with your payments.

If you want to keep things simple, something like the bullet journals found at https://bulletjournal.com/ could be a fantastic help here.

By having easy access to every payment date, there’s little chance that you miss another.

If that doesn’t suit, you could open a separate savings account.

Many people find that putting bill money straight into a seperate account is the best way to make sure they don’t spend it.

Knowing that money is to hand at all times could be what you need to pay off your credit card debt or meet those loan payments without fail.

Consolidate Your Debts

If you have debts in a load of different places, the chances are that you dodge calls from all different numbers.

In extreme cases, you may even decide that it’s easiest not to answer your phone at all.  Better that than risk picking up for the wrong number.

But, this is obviously not practical, and it’s an issue with an easy solution.

If you can’t breathe for companies trying to get hold of you, debt consolidation could be the best way to go.

The consolidation loans you can find if you view debtconsolidationnearme.com and other sites like them could be your saving grace. That’s because these ensure you only owe money to one set company. This makes things a whole load more manageable for your future, as well as acting as a clean sheet for your finances.

Then, all you’d need to do is take care of the organization mentioned above to ensure this company never comes knocking.

debt has gone too far

Living in fear is never pleasant, and it’s not something you have to put up with anymore.

Just take a deep breath, and put each of the pointers mentioned above in place.

Within weeks, you could be answering the door with a smile on your face again.

Are you dealing with debt?  What is your plan to climb your way out?  Comment below!

Best,

[a contributed post]

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4 Simple Tips To Save Money And Clear Debt

Ready to explore our jam-packed resource library?All our printables, guides, checklists, e-courses, and more have moved to one handy place:  The Who Says What Resource Library.  Sign up now to explore + download to your heart's content!No matter where you are on your...

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The White Lies Which Will Blacken Your Loan Application

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Is Your Wallet Always Empty At Month End? Here’s Why

wallet always empty at month end

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They say the first step to solving a problem is to identify that there is one.

Luckily you’ve already done that, as you’re reading this post

Of course, the problem you have is that by the time the end of the month rolls around, is that your wallet is as empty as a college dorm room fridge.

Don’t panic though because with the advice below you can stop this from happening time and time again.

Read on to find out more.

BUYING YOUR FIRST HOME

SAY BYE BYE TO CREDIT CARD DEBT

One of the most insidious causes of empty wallet syndrome is that all your money is going to pay off fees on debts you owe, especially credit card fees.

You know those ones where you pay off the minimum and never actually get to clear the balance, so you basically stay in debt forever!

The solution here is to deal with this issue head-on and pay off credit card debts.

In fact, by prioritizing these costs each month and paying off as much as you can, you can clear them a lot quicker, something that should ensure you still have money left in your wallet and your bank account when it comes to the end of the month.

CLAIM BACK WHAT YOU ARE OWED

Do you give money away to strangers on the street? Do you throw dollars down the drain?

Well, you might think the answer is no, but if you are paying for something that is someone else responsibility, you might as well be.

The most common situation in which this occurs is when you are involved in an accident that was caused by someone else. Something that can cost you a lot in medical bills, or if you can’t pay them right away, medical credit.

All because of another person’s mistake.

Of course, the solution here is to find a professional team like Aitken Aitken Cohn Trial Lawyers that can establish whether you have a personal accident case.

This case can take to court and could result in you reclaiming this money, that is currently coming out of your own budget.

Something that means your wallet won’t be so bear at the end of each month, just because of someone else mistakes.

SMART BUDGETING

Yes, I know I said it

The B word that no one wants to hear, but shockingly enough they are actually helpful when it comes to having money in your wallet at the end of the month.

OK so, budgeting may feel a bit restrictive when you have to check each time you make a purchase.

However, with some simple and visually engaging budgeting apps available for your smartphone it’s not like you have to carry a ledger around with you all the time.

Also, by getting into good budgeting habits early, you are setting yourself up positively not just to have more money at the end of the month, but for life as well.

Something that makes writing a budget at the beginning of each month well worth the time and effort!

What tips do you have to afford your bills at the end of each month?  Comment below!

Happy budgeting!

[a contributed post]

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4 Simple Tips To Save Money And Clear Debt

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The White Lies Which Will Blacken Your Loan Application

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Top Signs You Need Financial Help

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TOP SIGNS YOU NEED FINANCIAL HELP

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The new year is always a time for new challenges and a lot of responsibilities.

If you are looking for a way to start fresh this year and get your life in order, one thing which could be a great idea is getting some financial advice and help.

Your financial situation is something which is crucial to your way of life and your ability to live comfortably, and this is why today we are looking at signs that you need help.

big expenses

YOU HAVE NO EMERGENCY FUND

It is rather surprising how many people don’t have a savings account.

A savings account is supposed to be there to help us keep money to one side for a holiday or a house or for a rainy day.

As adults it is super important to have one of these because of something ever happened and we could no longer work, it would be this which helped us through.

Speak to a financial advisor on how to best open an account and save.

YOU LIVE OFF LOANS

It is important to remember as an adult that loans should only ever be a last resort when you have no other options and you cannot pay off your bills.

It should never become a habit and you should never take out more than one loan at a time.

If you notice yourself buying furniture or going on holiday via a loan this can be damaging to your finances.

Make sure that you always take the time to try every other option before you head for a loan, and if a loan is the only way, speak to someone.

TOP SIGNS YOU NEED FINANCIAL HELP

YOU USE YOUR SAVINGS FOR LIVING

A savings account should be used to save money for important things in your life and also for a rainy day if you ever need it.

It should not be used every month as a way to help you pay your living expenses.

When you take money out of your savings account to do this it defeats the whole object of saving; and this is always bad.

Make sure that you use your savings only when you need them and save them up for things that really count.

YOU ALWAYS USE A CREDIT CARD

Credit cards are a good and an evil in equal measure.

As a means to build up your credit score it can be ideal, but when it comes to spending beyond your means it is deadly.

If you find yourself putting everything on your credit card instead of your debit card and then worrying about paying it at the end of the month, you’re in a bad place.

YOU KEEP TAKING OUT DEBT

Debt is something we never want to deal with as adults and it is crucial that you never take out a debt unless you have no other option.

However if you have already got debt and you don’t think twice about getting more, this is a very bad sign.

Make sure to get some help and advice.

Are you struggling with debt and saving?  Start the discussion below to feel the support!

Happy budgeting!

[a contributed post]

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4 Simple Tips To Save Money And Clear Debt

Ready to explore our jam-packed resource library?All our printables, guides, checklists, e-courses, and more have moved to one handy place:  The Who Says What Resource Library.  Sign up now to explore + download to your heart's content!No matter where you are on your...

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The White Lies Which Will Blacken Your Loan Application

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Invest A Portion of Your Small Business’ Profits!

INVEST A PORTION OF YOUR SMALL BUSINESS PROFITS

This post may contain affiliate links.  All reviews are our own, honest opinion.  See disclaimer here.

Every small business owner aims to generate a profit.

Sure, breaking even could keep your company afloat.

But, the majority of us set small businesses up in order to earn sufficient money to provide ourselves and our nearest and dearest with a good quality of life.

Sure, you should use some of your profits for the things you want – whether this happens to be consumer goods, experiences, or getaways. But you shouldn’t regard all of your profits as purely disposable income.

You should be wise and save and/or invest a portion of your profits. Saving means that you have funds to fall back on if you hit hard times or have to fork out for large business-related purchases, such as replacement equipment and machinery.

However, saving is relatively self-explanatory. You simply open a savings account, deposit money into it, and then leave it there.

However, investing can be a little more complex.

So, let’s take a moment to focus on it.

invest a portion of your small business' profits

DON’T GET INTIMIDATED

Investing tends to come hand in hand with a host of jargon.

You will have to familiarise yourself with things like stocks, shares, and historical options data. But don’t feel intimidated by this.

So many people back off from investing their money because they don’t understand every aspect of it straight off the bat.

If you have patience, however, and spend a little time researching what you’re getting into, you’ll soon know what the whole deal is about and you can profit from this!

REINVESTMENT

The first type of investment that you might want to try out is reinvestment in your business.

While your business may well be generating a lot of profit at the moment, you need to recognise that there is always room for improvement.

Reinvesting money into your company can help you to achieve this – constantly pushing your business further and further forward to a better future.

Consider bringing your outsourced work in-house. This is a great place to start!

STOCKS + SHARES

Stocks and shares tend to be the most common form of investment.

When you buy shares of a company, you gain a claim over a portion of one of two things:

  • The company itself
  • The company’s profits (this is known as “dividend shares”)

The first form of investment means that if the company were to sell up, you’d find yourself with a portion of the final sum it was sold for.

If you invest in dividend shares, your given share of profit will be deposited into your account as it is generated.

CFD’S

Another form of investment is CFDs.

There are various different trading markets out there and CFD is essentially a hybrid market of the stocks and shares, forex, and options markets.

Remember that when you engage with CFD, you’re not buying anything tangible – you don’t own the assets you’re trading in.

Instead, you are agreeing to exchange the difference in different assets. These could be stocks, foreign currency, or options during a specific contract period.

As you can see, investment is important and you have a host of different choices on your hands.

So, take your time and make the right decision for you and your business!

Do you invest a portion of your small business’ profits?  Comment below!

Happy investing!

[a contributed post]

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