Being rejected when you apply for a loan or other form of credit can be dispiriting experience. You may be asking yourself what you did wrong, what is suggesting that you are a credit risk or if there has been a mistake.
It’s worth remembering if you are in this situation that you are not automatically entitled to credit. Banks and other lenders only lend to people that they think represent a low risk on what is an investment on their part and are unlikely to accept applications for people they think are unlikely to repay the money they want to borrow. It’s a balancing act – they want to protect their money while, at the same time, increasing the profits they make from the interest charged on the loans that they do make.
As the notorious April 15th tax filing deadline looms closer, you might want to take the opportunity to figure out how you will choose to maximize your tax refund. You certainly have a wealth of options – including a nice splurge – but there are some options that you might want to take that will repay you for years to come.
To become a millionaire by your 30s is possible, and you do not need to invent a new generation of Facebook or Snapchat, or win the lottery’s grand prize. Many ordinary people did that just with their strength of will and hard working!
To help you reach that incredible seven figure number today we are going to give you five tips, actually tried of by people who became millionaires at a young age. However, we can’t guarantee that you will indeed become rich if you follow these tips, but they certainly won’t reduce odds of that happening either.
Have you ever felt that sinking feeling when you find out you need to spend money on a home or car repair that you weren’t prepared for?
You knew it was coming; hindsight is always 20/20, and you end up beating yourself up for not planning it out sooner.
If you don’t have an emergency fund in place, that sinking feeling is all too familiar.
Financial experts say you need an emergency fund worth 3-8 months of living expenses (to cover you during a layoff or career change).
Other experts say having at least $1000 on hand for real emergencies is the minimum you should have on hand for life’s surprises.
There is a way to prevent that sinking feeling next time you get hit with life’s unexpected/expected expense events (say that 5 times fast).
If you have never considered buying a holiday home before, now could be the perfect time. Spain has some incredible destinations including the famous Marbella on the Costa del Sol where you can purchase luxury villas at excellent prices. These can serve as incredible holiday homes for you to visit any time of year.
But the reason a Spanish property can be such a smart investment is that there are so many options with what to do with your villa moving forward. Here is why you should choose a holiday home in Spain as the place to put your money.
So you’ve gotten your killer idea, you’re putting your business plan into action, you’ve bought a domain name, you’ve ticked all the initial boxes when starting a new business, what next? Consider hiring a professional accountant to help you manage your new business. While it may seem like a needless task to start off with, if you are really keen on getting your business up and running and in good time, you need someone with management experience and knowledge of the industry. Accountants have that essential knowledge and will be able to provide professional advice based on your specific business needs.
If you are financially secure and have assets you wish to pass on to your family when you die, planning for inheritance tax (IHT) is key. As it stands, by law you can leave an estate worth £325,000 tax free. Anything above that amount will be liable to a flat 40% IHT rate.
This might mean that your family may have to sell the family home or, in any case, be unable to benefit from a large portion of the wealth you have accumulated over a lifetime.
If you are worried that this could be a likely scenario for your family, an Asset Protection Trust is definitely worth looking into. Why not discuss this flexible estate planning tool with your solicitor to see if it could be right for your situation?
When you apply for a guarantor loan, it isn’t your credit rating that the lender is most interested in: it is that of the person who has agreed to provide the security that the loan will be repaid.