If you are wondering how you will afford all those things you want in the future – be it new cars, home improvements or holidays – it is hard to see how that will happen when every penny you earn is already accounted for. A debt management plan is usually used for people who are suffering severe debt problems but there is no reason why you cannot complete your own type of debt management plan by seeing advice from other people, and seeing where you can take positive action to avoid the worst case scenario of bankruptcy.
A debt management plan is the last course of action before an individual is forced to accept bankruptcy. By saving now, and saving regularly you can avoid that threat of bankruptcy by doing a little financial planning. This is your own debt management plan. A debt management plan scrutinises your income and essential expenditure and looks at what is left available to pay off debts. There is huge merit in looking at your finances in this way.
When you are struggling to pay for everyday expenses, saving for the future may seem way down on the list of priorities. However, if you can put a little aside each month, it will mean you can pay for those unexpected expenses down the road without having to borrow money. Once you begin the cycle of borrowing money from banks, loan companies or hire purchase agreements, it is extremely hard to break the cycle.
Where to put your savings is a big decision. To make the most of you savings it is advisable to compare accounts from all the major banks and building societies. It is vital that you consider what is right for you. If you are facing bankruptcy, having money tied up in an account you can’t access will not help you. The monies will be considered an asset in a bankruptcy process.
Saving money is a very personal issue. Only you know what you need to put money aside for, when you need to access it and how many accounts you need to keep you organized. Do your research carefully, consider what you are saving for, and and don’t be afraid to ask for some professional saving or debt advice to make the most out of your money.
With the economic climate forcing everyone to tighten their purse strings, it can be hard to find the extra cash at the end of the month for the little luxuries that make it all worthwhile.
But there are ways, even on the tightest of budgets, to free up a little extra so that you can treat yourself to an occasional luxury, be it a little shopping spree, a weekend away, or a meal out at your favourite restaurant.
Over the last 10 to 15 years, more and more retailers have promoted their services online and one way of grabbing the attention of a mass audience is to give them an exclusive offer. Vouchers, discount codes and exclusive web offers have become more and more common, giving consumers the opportunity to enjoy great shopping, dining and travelling experiences without breaking the bank.
If you never seem to be able to get enough money together to take a little trip away, an Orbitz promotional code could be just the thing for you. Orbitz coupons are limited-time offers that can save you a fixed amount of money on booking a holiday, give you a percentage saving on flights and hotels or allow you to purchase a package deal at a discount price.
If holidays are not what you are missing but you really wish you could do little bit of extra shopping each month, Amazon coupons could be right up your street. Amazon sells books, DVDs and games but has expanded its range to include furniture, clothes electronic goods and even groceries.
Sometimes it is life’s luxurious pleasures that get sacrificed when financial times are hard. That is where voucher codes can come in handy, making that little bit of spare cash stretch a bit further and giving you access to products from high end companies like Pioneer Linens. Pioneer Linens coupons give you money off bed linen, bath robes, towels, home décor and amazing gifts to brighten up your home.
Note: This is a guest post by Robert Sommers. Robert is a freelance mortgage and real estate writer and an amateur investor based out Baltimore. He has worked for over 25 years as a licensed real estate agent in all areas of commercial and residential real estate.
For all you hopeful homeowners out there, a reminder that the home buyer tax credit has recently been extended by Congress. The popular program is now being offered to all eligible home sales occurring between January 1, 2009 and April 30, 2010. Its basically offering the same thing as the last version- a $8,000 refundable tax credit available to qualified first-time home buyers. In addition, the extension includes a new provision that offers a $6,500 credit to move-up homeowners.
To qualify for either credit, individual taxpayers cannot make in excess of $125,000 and joint filers cannot make more than $225,000. Other qualifications are that you cannot have owned a home as a primary residence within the last three years. You are also required to stay in the home that you are applying the credit towards for three years. Receiving the credit is really straightforward- simply claim the amount on your upcoming tax return or file an amended return for last year. No other forms or paperwork are necessary.
So if you have been waiting to take advantage of the ridiculously low housing prices and mortgage rates currently available, now is definitely a good time. For more information on the eligibility requirements look HERE.