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:

5 Signs You Need to Stop or Slow Down in Using Your Credit Card | Debt Consolidation LoansCredit cardsGuides5 Signs You Need to Stop or Slow Down in Using Your Credit Card
February 6, 2019

5 Signs You Need to Stop or Slow Down in Using Your Credit Card

Slow Down in Using Your Credit Card There’s nothing wrong with having a credit card. For most of us, it represents a way to shop smartly - providing the balance…
Brexit: Lords quiz Gove on deal or no deal contingency plansPoliticsBrexit: Lords quiz Gove on deal or no deal contingency plans
December 17, 2020

Brexit: Lords quiz Gove on deal or no deal contingency plans

This afternoon, the House of Lords EU Committee will hear from Michael Gove on contingency plans for the end of the transition period with the EU, as negotiations enter the…
Prime Minister Power NapsPoliticsPrime Minister Power Naps
February 1, 2021

Prime Minister Power Naps

Prime Minister Power Naps Boris Johnson is well-known for admiring and even wanting to emulate Winston Churchill, but Downing Street has drawn a line at the suggestion that the British…
Barclays Bank are FinedPersonal FinanceBarclays Bank are Fined £26million Over Treatment of Customers Dealing with Debt
December 16, 2020

Barclays Bank are Fined £26million Over Treatment of Customers Dealing with Debt

News just out that Barclays Bank have received incredible consequences over their treatment of customers is delighting many people that have and still are struggling with debt. In a first…
Buy Now Pay Later Schemes Under ReviewPoliticsBuy Now Pay Later Schemes Under Review
January 31, 2021

Buy Now Pay Later Schemes Under Review

Buy Now Pay Later Schemes Under Review The (BNPL) schemes are encouraging young people to buy more than they can afford and Labour MP, Stella Creasy, is calling for a…
couple figuring out how to get out of debt quicklyDebtHow To Get Out Of Debt Quickly
May 24, 2021

How To Get Out Of Debt Quickly

Have you ever needed to know how to get out of debt? Tumbling into a large amount of debt can be an extremely troubling experience that is felt across every…

Leave a Reply

one × five =

Close Menu