In our previous article, we took a look at some sensible financial tips that could help you make your money go further. But there were many more tips we did not have the time or space to cover. So with that in mind, here is the next part of the series – financial advice Part 2.
If you really want to buy an item you cannot easily afford, then wait, sleep on it, and show patience. If the impulses do not subside over time, then perhaps you will really get the most out of this item and it is worth the expense. But do not buy something without giving it thought. Many a purchase has spent its life gathering dust in a cupboard.
And once you get past bills and food etc, thoughts turn to insurance. Do not think insurance as dead money. You do not need it for everything, admittedly. But going without it can cost you far more in the long term. And having it gives peace of mind should something go wrong, be it a boiler breaking, your car breaking down, or getting ill on holiday. For me, essential insurance purchases are travel, home and contents, and car insurance. For some pets, insurance is definitely a great idea.
If you buy something online, ensure you’re getting it at the cheapest price. Do a price comparison with other sites. Ensure the site is trustworthy. Check delivery details, including any possible charges. Also search for any possible promo codes for the site.
If struggling with debt, the worst thing you can do is ignore it. No, confront it head on, and consider how to deal with it. It is not going to go away. Do not take on extra debt to keep the wolves from the door. Contact the relevant financial institutions and try and work out a solution. Balance transfers can be beneficial, but check out the fees and terms before proceeding.
Do not always buy the cheapest option – it may well be a false economy. Better to buy a pair of shoes for £50 that last 10 years, than a £10 pair that last a year. Value for money is key, not price.
We should all have financial goals, unless we are so rich money has no meaning! And i’m guessing that does not apply to a single person reading this. So set some achievable goals. Do not beat yourself up if you miss some, it is not the end of the world. The goals are simply a guide, to try and help you stay on the right path and to avoid making decisions you will later regret.
If something is reduced in price and undoubtedly represents good value for money, that does not mean it is automatically a good purchase. It is only a good purchase if you need it and will make good use of it.
That’s my opinion anyway. Everything they offer, from cheap insurance to exchange rates, can almost certainly be bettered elsewhere with a quick search of the internet.