Archive for the ‘Poor Credit’ Category

Tube station platform Getting to and from work can be surprisingly expensive, especially if you’re attempting to stretch the pounds. If   you’re having a particularly tight month, you may want to temporarily rethink your transport arrangements, or  perhaps even make more permanent changes in order to save money in the long term. With less money availble from wage increases and ever-increasing transport costs, more people than ever are seeing their monhtly wages eroded by the simple act of getting in to work to earn a living! Even well-off households can pay over four thousands punds a year on an Annual Season Ticket from a commuter-belt area to get into London, as for people with bad credit issues, it’s even more difficult. So what sort of things can you do to try and make sure your saving money on your daily commute to and from work?

  • Car Pool

The cost of owning, insuring and running a car can get pretty high, especially with today’s fuel prices being what they are. In order to attempt to bypass this problem, many people share cars to and from work, pitching in with fuel costs and thus saving money overall. However, care should be taken to use different drivers and cars so that one person doesn’t get stuck as the designated driver all the time.

  • Get a Travel Pass

A bus or rail pass can really help you save money if you use one of these methods of transport to get to work every day. Offering great savings, you can also often get additional discounts if you fall into one of a number of specific categories. Remember to always fill in a query/cliam form if there are delays – a recent survey fund that rail companies were making huge savings by not having to compensate travellers for delayed journeys!

  • Walk

Provided where you work isn’t too far out of the way, you could try walking. Walking is great exercise (although admittedly less fun in bad weather), and is probably one of the cheapest methods of transport available since it’s absolutely free. Additionally, if you can’t bear walking both ways then you can always just try walking one way.

Cycling to work

  • Cycle

While cycling does require you to make an initial investment in the form of a bike, they aren’t that expensive (and certainly not compared to cars or a lifetime of train tickets). Much like walking, bikes are great exercise, and can get you further than you might get on foot without getting worn out. Bikes do require the occasional bit of maintenance, but again this pales in comparison to that of other road-faring vehicles.

  • Sleepover!

Why not sleep over in your office? You may laugh, but a surprising number of workplaces have taken to offering quiet, comfortable areas and even proper beds for their employees to sleep in should they decide to have a particularly late one. Whether it’s a power nap half way through the day or a full night’s kip, napping at work has actually been shown to be rather beneficial (and, of course, by not having to travel anywhere at all you save money).

Pet cat

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Earlier this month, the UK headlines revealed that the country’s GDP has dropped for two consecutive quarters, meaning the UK is once again in official recession status. This means the majority of people have no choice but to tighten their belts and spend less on the things that aren’t essential.

Many people take great comfort in pets but it would seem that these furry friends might soon become a commodity that only the rich can afford to keep; at least that’s what the latest press release from Cats Protection – a feline charity based in East Sussex – suggests.

Cats Protection logo

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“The recession has been disastrous for the UK’s pets and, following the latest news of the UK entering a double dip recession, sadly the situation for cats shows no signs of improving”,  said the charity’s Chief Executive Peter Hepburn. These three points taken from the Cats Protection press release support Hepburn’s concern:

  • The number of people looking to adopt a cat fell by 31% (5,016 (2009) to 3,471 (2011));
  • People wanting to give up a cat for adoption meanwhile increased by 14% (8,308 (2009) to 9,459 (2011)) and
  • There was a 7% increase in the number of people reporting stray cats  (6,924 (2009) to 7,426 (2011)).

These statistics were determined from the calls made to the charity’s main 03000 12 12 12 helpline number only, meaning the cat-astrophe could be even greater than these figures suggests, since each of the organisation’s 260 individual cat adoption centres receives hundreds of direct calls each year also.

It is hardly surprising that people are struggling to meet the costs of cats during these economically difficult times. A person struggling to meet their monthly electricity bill is hardly going to welcome the expenses of pet food and veterinary bills!

Would you go without in order to feed your pet? Would you be more inclined to adopt a cat if the economy was in a better state? Tell us in the comments below. 

You can read Cats Protection’s full press release here.

An increasing number of people are falling into the bad credit bracket as the costs of living continue to grow. It is all too easy to panic when you’re classified as being ‘in the red’ but there a number of steps that can be taken to alleviate some of the stress that comes with an adverse credit score.

This infographic – sourced from – offers five great tips for those with a poor credit rating:

The Bad Credit Survival Guide

Feeling the economic crunchFor anyone who is struggling with increasing personal debt, it may seem like there’s no light at the end of the tunnel. Making ends meet is difficult even in good times, but when there are worldwide economic difficulties as well it can seem almost impossible. It’s important to remember, however, that there are things that can be done, and there are people and organisations that can help, so there’s no need to feel complete despair at the situation.
Perhaps the most important decision you need to take is to talk to someone. Whether it’s a friend or family member, or perhaps a professional debt counselor, sharing the problem is a good way of reducing its impact. Once you have spoken to somebody and got things off your chest, you can then start to give more attention to the avenues that are open to you, and to start the recovery process.
Amid all the trauma and upset caused by mounting debt, it’s easy to forget the most important issue of all: getting column A to be larger than column B. Simply put, the issues are caused by income being a lower figure than expenditure, and until you can reverse that ratio the debt problems are likely to continue. And in order to achieve this, you need to take a long, hard look at your balance sheets.
Gaining strength from adversity
Reducing spending is never an easy option, but in difficult times it can be an empowering and cathartic experience. Not only is it important for the figures on the paper, it can also be somewhat cleansing for the individual. In many cases, it gives people the energy to fight the battle with renewed vigour, so although it may seem an unpleasant prospect, you should be aware of the positive side of it as well.
Your creditors will need to know if you are experiencing hardship, and for many people this is the most difficult aspect of all. Writing letters or making phone calls to explain the situation is seen by some people as an admission of defeat, but this isn’t the case at all. Many people make the contact with a heavy heart only to discover they could be given a little leeway by the creditor, bringing them some much-needed breathing space at a time when they least expected it. It is also far better to appaer to creditors that you are taking proactive steps to seetle your debt situation, rather than letting it spiral out of control.
An unfortunate by-product of debt problems is that the individual may have a poor credit rating, and this can take some time to recover from. All is not lost, however, because a credit card with a low spending limit can be used to improve the situation. There are agencies which offer instant information about credit ratings, so as your financial situation improves you can keep a check on how well you are doing. See here for a guide to poor credit and waht you can do about it . . . there is also a list of resources on the DirectGov site that offer help and advice for paying off debts and tackling credit problems.