Skip to main content
Apply Now

Seven Financial Facts About Yourself You Should Know | Debt Consolidation LoansDo you know all the facts about your finances? Could you reel off numbers if prompted? In personal finance ignorance is expensive as the wrong calculations can leave you paying far too much for insurance, utilities and expenses.

Here are the top seven financial facts you should know about yourself:

1. Your Credit Rating

Over 50% of Britons have no idea what their credit rating is or what is affecting it. In some cases a red mark could be easily wiped off with a small payment. Do you feel comfortable knowing your lenders know more about your credit history than you do?

2. Your Security

You may know that you have locks on doors and windows at home or in the workplace but do you know what specific type they are? Detailing the wrong locks in a policy could make any claim void which is an expensive mistake to make.

3. Your Value

If you took out insurance for your contents, your jewellery, your art or your buildings over a year ago it is time to look at it again. Inflation pushes the price of your valuables up meaning they’ll costs more to replace while the demand on services prompts builders to charge more for repairs. It’s also unlikely that you’ve brought nothing new into your home over the last twelve months and so insurance needs to adapt to cover it all.

4. Your Credit Card APR

You could save a lot of money right now by seeing what your APR is and finding a better deal.

5. Your Car Insurance Details

Have you told your insurer the correct mileage? Underestimating leads to void claims as the lower the miles the lower the premiums. Did you also know that if you add a named driver the cost of insurance decreases?

6. The Cost of Being Aboard

Credit cards cost more to use abroad than at home. You can also be charged for cash withdrawals as you bank converts the UK currency to wherever you are. Even if you don’t use your mobile phone abroad you can still find yourself with a hefty bill as some companies charge you, not the caller, when they call you on holiday.

7. The Cost of a Rebuild

As natural disasters in the UK increase, with high winds and floods you now need to know how much it would cost to build your home from scratch. Don’t confuse this with its market value, as the cost is usually less. As your buildings insurer works on this figure, the less it is the lower premiums you pay.

If you need any more help with consolidating your debts, even if you have bad credit, please don’t hesitate to contact us.

We offer Debt Consolidation Loans for homeowners.

Our team is on hand to help with number of questions you may have.

If you are struggling with debt, please visit Money Advice Service for help and advice.

We are a broker, not a lender.

Visitors also read:

Man understand the debt to equity ratio for his businessBusiness
September 10, 2020

Thinking of Starting a New Business But Have Debt?

Thinking of starting a business I have debt - Debt consolidation loans team can help and advise on any of those who need to consolidate debts. If you want to…
Digital Trappings to Avoid When Struggling with DebtDebtGuides
March 7, 2021

Digital Trappings to Avoid When Struggling with Debt

Ten or twenty years ago, debt would be a very private affair while temptation to spend would be easy to avoid. Now, with the internet, there are many trappings that…
Double Dip Recession PossibleBusiness Finance
February 2, 2021

Double Dip Recession Possible

Double Dip Recession Possible. The UK is in lockdown once again. However, while it’s hoped that this shutdown will impact the startling infection figures and high mortality rate, economists are…
Mature financial agent showing new investment to young couple. Happy financial advisor discussing with a couple their mortgage loan. Happy couple consulting their bank agent about savings plan.Debt Consolidation
September 3, 2020

Why should you apply for a debt consolidation loan online

Why should you apply for a debt consolidation loan online Debt consolidation loans are a great way of helping you to get out of a difficult financial situation. If you're…
Furlough RightsDebt SolutionsGuides
February 4, 2021

Furlough Rights

Furlough Rights The UK Government introduced the Furlough Scheme to support Furlough Rights as a response to their instruction to work from home at the start of Covid-19 restrictions in…
3 ways debt consolidation can benefit new parents | Debt Consolidation LoansDebt Consolidation
June 17, 2020

3 ways debt consolidation can benefit new parents

3 ways debt consolidation can benefit new parents If you are expecting a baby for the first time, congratulations! This will no doubt be a very exciting time for you.…

Leave a Reply

four × 5 =

Close Menu