What Divorce Means For Your Money
For many, if not most, people, divorce is going to have a significant financial impact. As is generally the case, however, its impact can be minimised by mindfulness and planning. With that in mind, here is a quick guide to the financial points you should consider when getting divorced. Separate your everyday finances as quickly […]
Personal Liability And Insolvency, What Company Directors Need To Know
One of the advantages of trading as a limited company (as opposed to a sole proprietor) is that, generally, company liabilities stay with the company. The protection from personal liability is, however, not absolute. It’s therefore important that company directors clearly understand where it applies and where it doesn’t. The basics of company liability vs […]
Unpacking The Emotional Impact Of Bankruptcy
The 20th century may go down as the century when many age-old stigmas were largely ground down. They may not have been completely eradicated but they are less of an issue. This is arguably true of the stigma that formerly surrounded bankruptcy. Its emotional impact, however, can still be significant. Here are some key points […]
Is Debt Consolidation The Right Move For You?
Interest rates look to be on a clear upward trajectory. It, therefore, makes sense to ensure that you’re managing any debts you have as effectively as possible. Debt consolidation may be a way to achieve this but only if it’s done the right way. With that in mind, here are some points to consider if […]
Can Debtors Breath Easier Now?
The COVID19-specific debtor-support measures are coming to an end. They are, however, being replaced by a combination of the established creditor-forbearance measures and the new concept of “breathing space”. Here is a quick guide to what you need to know. Breathing space comes in two forms There is “standard” breathing space and mental-health-crisis breathing space. […]
Has The UK Averted A Debt Crisis?
Financially, the pandemic was very much a tale of two groups. One group made savings and/or paid down debt. The other group, at best, managed to get by, at worst used up savings and/or took on debt. Some of the latter needed the help of the COVID19-support measures. These are now coming to an end […]
Get Ready For Repayment Hikes
Currently, interest rates are only a whisker above zero. This means that variable-interest-rate debts such as credit cards should be at close to maximum affordability. Barclaycard, however, has decided to increase its minimum repayments. Here’s a quick guide to what this means. The old rules versus the new rules Up until 25th January, borrowers paid […]
Saving your finances and your mental health
The Coronavirus hasn’t just caused a lot of problems, it’s highlighted existing ones and possibly made them worse. For example, it’s common knowledge that years of austerity have left many people on the financial edge, if not actively struggling. It’s also common knowledge that many people in the UK experience mental health issues to some […]
Debt Management Tips
Arguably the best debt-management tip of all is to avoid all debt unless it is used for the purchase of an asset, be that a tangible one, such as a house, or an intangible one, such as an education. If, however, you already have debt, then you can save yourself money (and potentially stress) by […]