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Futureproofing Your Finances: A Graduate's Guide (Page 1 of 2)
With every passing year, employers place more and more importance on the ‘right’ degree, even for entry-level positions, so it is little wonder that more school leavers than ever before are choosing to continue with Higher Education.
Since the UK government abolished means-tested maintenance grants in 1998 and introduced tuition fees soon afterwards, the cost of getting a degree has increased exponentially, with an alarming proportion of new graduates leaving university tens of thousands of pounds in debt. The future looks bleak for the current generation of graduates. The ‘job for life’ has become the stuff of legend, and state pensions are at risk of being phased out.
It’s easy to put off getting your finances properly on track, especially if you’re working full-time and managing to keep your head above water, but those loans and overdrafts that were so easy to get when you were a fresh-faced eighteen-year-old need to be dealt with now if you want to enjoy a decent lifestyle by the time you are middle-aged.
We’ve identified some of the key things you can do to get on the road to financial freedom as soon as possible.
Make a plan
List your short-term and long term life goals. Do you want to be able to afford a new car or invest in property? Start a business? Get married or have children? Having a rough idea of the direction you want your future to take will provide the framework on which to base many important decisions.
Kill your debts
This one is vital! As long as you owe people money, you will feel like they own you. If you have outstanding student loans, bad credit cards, unpaid bills or similar debts, ignoring them will only make them grow bigger, and if all you can afford to pay is the minimum charge every month, all you will be doing is paying off interest without ever repaying the original loan. It’s important to break out of the cycle of debt, but it can also be a very daunting prospect, especially if you are being harassed by many creditors. If you can’t find enough hours in the day to organise repaying your debts properly, or simply feel you don’t know where to start, it’s worth finding a personal debt management firm to help you get back into the black. As long as you are in debt you will not be able to save any money, which brings us to:
Start Saving Now
We’re not saying that you shouldn’t spend money on consoles, new stereos and so on but at least make sure you put aside 10% of your salary in a savings account for use in future emergencies. We don’t want to sound fatalistic, but there will always be future emergencies!
Cut Day to Day Expenditure
The internet offers hundreds of ways to save on all manner of products and services. There are price comparison websites, sites that collect discount voucher codes that you can use when ordering all manner of things online, from new PCs to take-away pizza. If you find a voucher online that saves you some money, put that money into your savings fund as well. Sites like MoneySavingExpert are dedicated to helping consumers claw back as much money as possible from the corporations.
Cash loans to get rid of cash crunches
Cash loan or payday loans, which are also known as cash advances, are being designed with the purpose to help the person who needs re-finding their account before the payday. They are short length loans but prove quite beneficial at the time of emergency.
The process of availing loan form any institution is quite easy and simple and an applicant does not have to put much effort to get the amount in his or her account. However, no institution will pay the loan directly to the applicant. What they actually do is they try to find potential lenders on behalf of the clients, who can provide you with the amount according to your need and demand. That is why it is very important to case the file appropriately so that the lender can judge the importance of your appeal and soon agree to provide you with the money. You want to avail the loan physically or you want to get payday loans online, it is necessary to provide relevant information properly to stand at per with the requirement of the institution.
Online payday loans:
If you are in need of money right now and find the nearest payday loans office closed, what will be your next option? Of course, you are left with the best and easy option to avail cash advance online. It will take you hardly a few minute to fill the application form online with necessary information. As soon as you post the form online, your lending institution will start searching a potential lender on behalf of you.
Bad Credit- Problem:
The most important fact regarding online loans is that you can avail it even after having a bad credit history. Few sites will introduce you to reputed lenders who can easily provide you with the money as early as possible. They will keep your credit history safe and secure and you do not have to fax anything or stand in front of the store to get the loan. You simply sit in front of the machine and click the mouse to complete your deal and soon after the completion, you get the cash in your account.