Financial Advice for UK Students

The time that you spend in the college and all that you learn is worth borrowing money. But as you step out of your college you have to arrange for the loan repayment installments. Here are some tips which you can use to arrange for the tuition fees and for some finances in case your debt situation goes out of control.

Search out for the scholarships
There are different types of scholarship programs at the district and state level. Find out about such programs. The best thing about such scholarships is that they don't expect you to be a topper but they ask you to have a particular grade which proves that you are a good student.

Search for the colleges charging less tuition fees
Shop around. Search for the college that respects your grade. Find out the college that treats you as a special student. Such colleges offer a discount in the tuition fees for their special students. Choose a college where you find yourself in the top ten students. With such rank you can bargain for your tuition fees.

Take admission in a local college
Choose a local college, stay with your parents and save on the expenses. But think before you make this move. Because then you will be missing the student life and social activities in the school campus.

What about a part time job
List down your interest and hobby and take it up as your part time carrier. If you are good at computers then go ahead and find out what you can do with all the knowledge you have. You can also take up tuitions, mow the garden, work as a mechanic in a garage or take up baby sitting.

A part time job not only earns you some extra pocket money but it also improves your skills. Just analyze what you can do. What skills you have. Find out your strength and weaknesses and search the job accordingly. Who know your part time job may end up as a full time carrier in future.

Think before you apply for the loan
Loan in such times of recession and turmoil should not be the obvious choice. But if you are still determined then apply for the government loans designed for the students.

If you do not qualify for such loans then shop around and compare the quotes of different private lenders before you make a choice. Understand the terms and conditions and clear all your doubts.

Apply for tax return
If you are in a part time job then don't forget to apply for the returns. Take some leave and visit the officials for the details. If possible take the advice from an expert in the field. Start with the process about two to three month before the date of filing the return application.

Avoid using credit cards and pay your debt amount on time so that you keep up with your credit scores.

Wedding Plan on a Budget

Last month I attended the wedding anniversary of my friend William and his wife Cynthia. On being asked how he felt, William replied," I never realized the true meaning of happiness, until I got married to Cynthia; but it was too late by then."

Jokes apart; a marriage is perhaps the most important decision in a person's life; and this might be one of the reasons why people often get carried away and end up exceeding their budget.

Now, if are the chairperson of Microsoft Inc. then overspending may not actually affect you, but if you are a regular guy with an average income, then you must always take care to see to it that you are not overspending.

Marriage plan on a budget is definitely a tightrope walk for those who wish to have a wedding, simply because your fiancée wants a lavish wedding whereas you are focusing on the financial aspect. This may have serious consequences in future. Now, just when you have thought that you have lost all hopes; there is good news for you. Yes, you can have a fairly lavish wedding at a shoe string budget. All you need to do is to keep the following points in your mind.

Starting with the wedding ring; you need to look out for a wedding ring that appears elegant, yet is on the lower side of the price. You will find a lot many options in the market. What you need to do is see to it that, you keep your eyes open for such products.

Next, we have the wedding dress. A very common way of cutting down on costs is to settle for a second hand tuxedo or wedding gown. You may feel it odd, but ultimately you have to realize that in all probability, you will not wear it again. And, once the wedding is over, you can re-sell it. Of course, you should remember not to invite the person who sold you the weeding dress; for obvious reasons of course. You can also go for a wedding dress on rent counter.

You can also cut down on the wedding expenses, by avoiding a professional photographer. You can always find a kid in your locality, which would do the job for you in half the cost.

You can also cut down on the wedding card expenses. Settle for Microsoft publisher instead, which would give you the same results in virtually no cost.

You can also get wedding planner software installed at your home P.C. This would also help you in reducing your wedding costs by a considerable margin.

If you take care of the above mentioned rules, then I am sure, you would be able to achieve your goal.

Wedding Loans

With wedding loans you can arrange for the funds if your wedding expenses are getting out of your budget. Weddings are an expensive affair. You need money for the dress, reception, catering and decorations. There are other miscellaneous expenses which just suck out the money from the account and you soon feel that you are running out of money. Here you can take the help of wedding loans.

Wedding loans are available as secured wedding loan and unsecured wedding loans. In secured form of loan you place a property as collateral. The property can be any which has a market value. You can place your car, home or important documents as collateral.

If you don't have your own home or you don't want to engage your property in loans then you can apply for unsecured wedding loans. The interest rates for the two forms vary.

The secured loans come with slightly lower interest rates than the unsecured forms. Factors such as your credit history, the amount that you borrow, your employment status, credit score and rates prevailing in the market affect the interest rates.

Both the form of wedding loans comes with either fixed interest rate or variable interest rates. With fixed interest rates you pay a fixed interest amount for the whole term. but if you apply for the loan with variable interest rates than you pay the interest which may vary from time to time during the loan term. The flexible interest rates vary with the fluctuations in the market. They may rise or fall. Therefore choose the type of interest rate carefully.

Bad credit loans are also available for the individuals with bad credit score. All the conditions related to the bad credit scored are taken care of so that you can arrange for the funds that you require for making your wedding memorable.

To find a wedding loan which suits your conditions and financial needs you have to shop around. Wide range of information is available on internet. Search for the information on internet. The companies provide free quotes for the loan. Download the quotes and compare them on the interest rates, fees, terms and conditions.

If you have a bad credit history then first apply for the credit report and credit score. Scan your report for any mistakes. If there are any then report them to the agency and ask them to correct the mistakes. These loans are available from £ 1000 to up to £ 20, 000. You can borrow the amount that you need and use it to make your wedding a memorable event.

Secured home improvement loans

Home improvement loans provide you with the necessary amount so that you can give your home a new look. These loans are designed so that you can pay for the renovation, maintenance or extension of your house. You can also use the money to improve your kitchen, add a room, improver furnishing, repair the floor and correct the leaking ceilings.
With secured home improvement loan you use the equity in your home. You place your home as collateral for the amount that you want for the repairs and construction. With the money you can conveniently modify the living space to give it a new look.

These loans are available to the self employed, professionals, individuals with bad credit history, CCJs and individuals with history of bankruptcy. These loans come with low interest rates as the home that you place as collateral lowers the risk of the lender. But the interest rates for the individuals with bankruptcy or bad credit history the rates are slightly higher than the standard interest rates.

Characteristics of secured home improvement loans

• You have to place your home as collateral.
• The interest rates on loan are generally fixed but some lenders give you the option of variable interest rate.
• You can borrow $1000 to $2, 50,000 depending upon your needs.
• These loans come with the repayment period of twenty four months to twenty five years. You can choose the repayment term according to your financial situation and repaying capacity.
• With the loan amount you can add the swimming pool, improve the kitchen, and use it to renovate your bedroom or to convert your lobby into a small study room.
• The loan is also available to the individuals with bad credit history but for them the amount comes at slightly higher interest rate.
• The interest on such loans is tax deductible.
• If your loan amount is more than $100,000 then the officials may ask for some documents such as the plan for the renovation that you want to take, an information sheet from the contractor and a letter with all the specifications signed by your contractor.

Eligibility conditions for home improvement loan
The home that you wish to place as collateral should have a high market value. Besides this you should be not less than eighteen years of age. You should also have a regular income and you should be employed so that you can repay the loan amount that you borrow.

Good credit history is also a condition for the loan. Although the loan is also available to the individuals with bad credit score but a good credit increase the chances to qualify for the loan.
Secured loans are long term loans which give you money for big construction or renovation. There are companies which sanction the loan online. You just have to visit the site, get the quotes and apply for the loan.

Know the Risks of Forex Trading

The Forex market is a non centralized market. Different types of risks are associated with the Forex market. These are the exchange rate risk, interest rate risk, country risk, leverage risks, scams and credit risk. Lets discuss them one by one.

Exchange rate risk
The exchange rate is the rate at which different currencies are quotes in the market. It is the rate at which one currency is quoted in relation to another currency in the market. Stop loss orders and limit orders are used to minimize the fluctuations in the currency prices over a trading period. The stop orders help you to close the currency if the prices of the currency fall beyond a certain level.

The limit order on the other hand is used to close the open position of the currency when it reaches a predetermined rate which earns profit. The stop orders when used along with the limit orders reduce the exchange rate risk to minimum.

Credit risk
Credit risk defines the risk of default by either of the party involved in the currency transaction. Bank or financial institutions becoming insolvent result in the loss of credits. To reduce the chances of credit risk it is advisable to trade in the regulated markets.

Interest rate risk
The currencies are exchanged at particular interest rate. The economic conditions in a country affect the exchange rate and the interest rate of the currency in that country. It is the difference between the interest rate of the two currencies. This differential is the carry cost that you pay to hedge a forward or future contract.

Country risk
This risk arises when the government of the country introduces some policy or takes some measures which affect the exchange rate of the currency.

Scams
Approach a certified broker to save yourself from the scams. Check if the broker is registered with the Commodities Futures Trading Commission. You can also trust a broker if he is a member of National Futures Association.

Leverage risk
Leverage increase the return but higher the amount higher will be the risk. In case the market moves the other way round against your expectations then you loose all or a large part of what you earn. Optimum level of leverage is thus what you should use when you trade in foreign exchange market.

You can minimize these risks with a proper trading strategy. Plan well when you will enter and exit the market. Use stop loss and limit order to manage the risk associated with exchange rate fluctuations. Study the market carefully before you enter the market with your savings.

The Secret Tips to Make Auto Accident Insurance Claims Easier

Auto accident insurance gives you the necessary financial cover for the accidents. The insurance compensates the medical bill and for other associated expenses that you meet due to accident.

Try to be as honest as you can in your claim. This is important because there are number of cases that get disqualified each year as fraudulent cases. Here are some tips which you can use to claim for auto accident insurance.

Contact your financial advisor
This is the first thing that you should do. Contact your advisor who suggested you the plan. Ask him about the claim procedure. Ask him all that you require for the claim; the documents that you need and the proof that you need.

Discuss with him your policy details and find out what and how much you are entitled to this is especially important if your policy is in the initial stage. You can also approach the company directly and ask the officials about the claim procedure. Find out from the officials what they want you to do; what they want you to submit along with your claim statement.

Find out about the cover that you have
Take you policy documents and calculate the coverage that your policy gives you. Read your policy documents carefully and find out how much you can claim. If you have more than two insurance policies that give you auto insurance cover then go through them and find out how much you are entitled to.

Prepare an auto insurance claim statement
Prepare a statement about the accident. Collect all the necessary documents and bills that you can present as a proof. Place the medical bills in order. If possible ask your physician to prepare a detailed report of the injuries.

Attach them on to your statement. List the medical reports of the injuries. Find out the details of the witnesses. Find out about their address and contact number. Mention them in your statement.

Stay in contact with the claim department of insurance company
The insurance company will send an official to your place that will examine and find out the authenticity of the documents that you place with your claim statement. The company will also send an adjuster who will look into the process. They may ask you to fill some forms before they finalize your claim.

Keep all the evidence ready with you. Fill all the forms as quickly as you can so that there are no delays from your side. Keep track of the procedure. If possible write down all that you go through, all that you discuss with your officials and all that you place as evidence.

Some Useful Credit Options for Starting a Business

There are different financing options for your business. Funds are available if you have a sound business idea and have a will to transform the idea into a reality. You can apply for business line of credit, loans or business credit cards. The credit unions are also useful when it comes to easy credit options for the start up business.

Let's discuss different credit options.

Credit union
You can get easy credit for your start up business from such unions. The credit is available at low interest and easy repayment options. The loan fee from such unions is also very low which make the credit from such unions a lucrative option.

Business credit cards
You can also apply for the business credit card. You can have the card with the name of your business on it so that you can utilize it to the fullest just for your business.

Business line of credit
You can apply for business line of credit to raise fund both for the short term and long term needs of your business. It is available as unsecured line of credit and secured line of credit. The unsecured line of credit is the best option to raise funds for the short time and current needs of the business. You can use the fund to finance the inventory needs, or pay to your employees or your creditors.

The unsecured line of credit does not require any guarantee from your side and it is given solely on the basis of your creditworthiness.

If you require more funds for your business then you can apply for the secured line of credit. For this you have to place collateral to raise the funds for your business. Higher amount of capital can be raised from secured line of credit as compare to the unsecured line of credit.

Besides these options you can also consider the home equity loans for your business. These loans are low interest loans. The interest on such loans is tax deductable. You can secure your home to avail the benefits of this loan.

Before you apply for any of the business credit options register your business. The financial institutions look into such information and verify that your business is a legal entity with phone number and address in the directory, before they consider your loan application.

Before you choose any of the credit option for your business, study it carefully. Find out everything about the option. Research well. Prepare your business plan and then choose one which best suit your business needs.

Know How You Lose Your Money

There are different ways by which we continue to loose money. You loose it when you spend the money on small things, spend lavishly. Bad investments can also make you loose your money.

Unwise investments make you loose your money. Any unwise and hasty decision may reduce the returns and thus may make you loose your money. So weigh all the investments plans before you put your money in them. Find out everything about such plans. Consult an expert in the field.

Find out different options available. Find out where you can invest your money. Make a list of all such plans. You can find the information on different websites. With the list ready, next you can do is find out the risk with the investment plans.

High return securities carry with them high risk. Stocks earn you high return but they carry high risk. Government securities give less return but give less return. Find out how much risk you can take with your investments. Then plan how you will invest your savings so that you can reduce your risk. Plan a portfolio. Make a list of different type of securities. This will help you to diversify the risk and help you to earn higher returns.

Find out everything about the securities and stocks that you choose. Search the information on different websites. Ensure that the stocks in which you plan to invest are there in the stock exchange list. This will prevent you from falling into the scams; other common way makes you loose your money.

Don't trust anyone and any advertisement blindly. Use your senses and knowledge. Find out each and everything related to the investment plan and the company that you approach. Ask them about their authenticity. You have the right to do so. Evaluate each and everything before you invest your hard earned money in some security.

Think before you spend your money. Squandering is the most common and most popular way which makes you loose all that you have saved for quite some time. Think before you plan for a vacation. Sit down and take a deep breath. Find out other more viable options to spend your money.

Calculate the taxes that this extra money will make you pay. Find out the ways by which you can save the tax. Find out about the investment options which help you to multiply your money besides giving you the advantage of tax deduction or exemption.

Don't loose your money. Invest it wisely and let it multiply.

Get the Best Secret Tips to Avoid Paying Income Tax

Tax avoidance is the legal means by which you can reduce the amount of tax that you pay. The best way is to take the advantage of the deductions and exemptions designed by the government so that you can reduce your tax liability. Taxes are the source of revenue for the government.

The money from taxes is used by the government to carry out various development activities. The government also designs different deduction and exemption schemes so that the citizens are motivated to invest their earnings in different saving schemes.

You can take the advantage of deductions offered by different saving schemes. There are different types of investment plans in which you can invest and save tax.

Invest for your retirement
The retirement plan offers you the tax deduction if you invest $14000 in 401(k) and 403(b). You can also invest upto $4000 of your pre tax income and apply for the tax deduction.

Make charity donations
Make charity, take the slip of the donation that you make and use the slip to file tax return.

Gift your heir
Gift your heir up to $11000 and save taxes. If both of you that is you and your spouse gifts your heirs an amount of $11000 then you can file a return of $22000 and save the amount that you pay to the government as tax.

Invest for your child education
This is one of the best ways to save the taxes besides investing for your child future. The amount is deductable till you use the amount for the education of your child.

Consult an expert in the field
Consult the lawyer and find out the ways by which you can avoid taxes. Most of us are unaware of different tax laws and the exemption schemes designed by the government. The layers and advisors can guide you and inform you about different schemes and plans which you can use to claim deduction and exemptions to reduce your tax liability.

Some of us do not disclose our whole income or property. This way most of us try to reduce the amount of tax that we pay. But the best way out of the situation is to consult an expert in the field who can suggest you some legitimate ways to avoid taxes.

Completely avoiding taxes is difficult. This is also not the right way to avoid taxes. This is because if the tax department finds out that you are not paying any tax then they can fine you for this. So the best way out is find out the tax liability that you have and find out the different deductions available so that you can file your returns and reduce your tax liability.

How to Finance Ambulance

Ambulance forms an important part of the healthcare industry. The hospitals need well equipped ambulance so that they can provide the best care to the patients. Financial companies now offer low interest and low fees loans to the hospitals so that they can arrange the ambulance for the patients within their operational budget.

The level 1 ambulance is the most important type of ambulance which every hospital should possess. These ambulances meet the OSHA and EPA standards. This type are highly priced which exceed the operational budget of the hospitals. Also not all institutions finance such level 1 ambulance. Therefore to raise finance for level 1 ambulance, reach the reputed financial institutions.

Level 2 ambulances are the mobile vehicles which come with different facilities for different emergency needs. Similarly are the level 3 and level 4 ambulances. These are the mobile vehicles which come with different medical facilities so that the patients can be given the utmost care.

These types of ambulances are especially useful for the hospitals in the critical emergency situations and in the situations of the infectious disease outbreak. These ambulances are highly sophisticated vehicles must for every hospital. As they come with different configurations they exceed the budget of the hospitals.

Besides this the patient transport ambulance is a necessity for every hospital to provide immediate care to the patients while they are transported to the hospital.
There are recognized financial institutions which extend the financial help for ambulance requirement in the form of loans. The hospitals considering raising funds from the outside sources should find out about such financial institutions.

The small financial companies generally do not provide loans for ambulance. The therefore it is essential for the hospital authorities to search for the reputable financial companies which have experience in this field.

The finance for the ambulance and rescue vehicles is available in the form of loans and lease. Leasing has its advantage over other type of financing. With leasing equipment and vehicles with latest technology can be purchased. The payments can be spread over the years which make the ambulance much more affordable. This also allows reserving the capital for other hospital requirements.

With loan as an option it is advisable to look for the recognized and reputable financial company that has some years of experience in the field of lending loans for the ambulance financing. The information about such institutions is there on the internet.

Best approach is to compare different financial companies on the basis of the interest rates and fees for processing the loan application. Select the company that approves the loan immediately.

Useful Tips for Holiday Shopping on a Budget

With the holidays nearby, shopping is on the card. Here are some tips which you can use to buy gift for your loved ones within the budget you plan.

Make a list
Smart shoppers always prepare a list before they go out for shopping. Prepare a list. Plan well in advance what you will buy once you are in store. This will save you from impulse purchase.

Plan your expenses
Decide well in advance how much you will spend on the gifts. Prepare a list and write the name of each member for whom you want to purchase the gift. Write the maximum amount that you wish to spend on the gift next to the name of the person. Then write down the different type of gift that you can purchase within this limit.

Search online stores
Shopping online is convenient. Visit the online stores and see what they have for you. Find out the discount schemes offered for the different items of your interest.

Compare the prices in different stores
Compare the price of the items of interest in different stores. There are different sites online which offer this service. By comparing the prices you can manage to get some of the best gifts at very affordable prices.

Start early
Start well in advance around a month or so to avoid the last minute panic related to shipping of the gifts.

Inform yourself of the shopping policy
Find out the details of the shopping policy of the store from where you plan to buy the gifts. Get the details of how the gifts are shipped and how long it takes for the gift to be delivered to the specified destination. Also inquire about the return or exchange policy of the store.

Sign up for emails
Visit the online stores and sign for the email alerts about the new items being introduced in the store, the discounts and concessions offers and early bird sales offers. Also ask your friends to inform you about such offers. Share the information with your friends and family members so that you don't miss the attractive offers and schemes.

Look for the discount schemes
Find out about the discount schemes and concessions, group discounts and rebates at the stores. Search for the free shipping offers or discounts on shipping of the purchase items. Consider the bargain offers. Look out for buy one get one free offers. Find out about the coupons.

Send postcards
Postcards and e-greetings are more economical than the regular cards. You can express your greetings the same way with these cards and still stay within your budget.

Advice to Teach Yourself Finance

Finance is a broad term. With the development and expansion of the market and the way the business is conducted, finance is not just confined to accountancy. It also includes working capital management, financial management, management accounting, economics, portfolio management and risk management.

If you want to teach yourself finance then find about such sub streams in the field. With the knowledge of finance you can be a financial planner or you can take up a carrier in risk management or portfolio management. To teach yourself finance you can follow the tips mentioned below:

1. First make yourself aware of the basics. Find out what finance is all about. Get informed about the basics of accountancy and economics. This will lay the foundation of the subject and make you understand the more complicated portion of the subject in much better manner.
2. Visit the local libraries and find out the books which explain the text in easy manner along with the examples. Consult the revised edition of the books which have the recent information. The methods of finance keep on changing. What was applied few years ago stands irrelevant today. Therefore check for the books with latest information and accountancy approach.
3. With all the basics clear narrow down on the specific field in which you want to specialize.
4. Approach the university or college in your area and find out the courses that they offer in finance. It is better to join a part time or regular course in a nearby university. Browse the internet and find out the different colleges offering short term courses in finance.
5. Visit the local college and ask for the text books that are available for the non college students. These text books will give you a more direct approach towards the subject.
6. Visit the market and search the books for the beginners. Also search for the books on personal finance. These books will give you an insight into the subject and teach you the fundamentals. Read and understand the debit and credit transactions. Make yourself aware about the balance sheet entries and financial statements.
7. Take the subscription of the financial magazines and newspapers. These magazines will give you an insight of how the knowledge of finance is actually applied.

Lots of information is available online. There are different online dictionaries available on the subject. Visit the sites such as investopedia for the definition of the financial terms. You can also visit the sites such as Finance Professor for the latest financial news and articles. Join the online communities for to share and clear your doubts on the subject.

Important ways to Track Business Transactions

It is important to track all the transactions. Cash inflows and outflows are important and if not recorded properly they can lead the business into serious financial troubles. Here are some of the ways which can prove helpful to track business transactions.

1. Record all the transactions: this is the most important step to keep a track. You can record the transactions in individual ledger account or enter the information in the computer spreadsheet. Enter all the cash outflows and inflows.
2. Allot the job to a specific person: appoint a person who looks into the transactions taking place. Design the job of the person such that the person records all the transaction in the books under different headings, manage all the cash inflows and out flows such that at the end of the day you have all the records of the money that is withdrawn and deposited in the business account.
3. Deposit your cheques everyday: the verification of the cheques takes time. To take the benefit of the actual date of payment and receipt try to deposit cheques on time.
4. Ask your clients to pay you on time: longer the repayment duration, longer your books remain unbalanced. Timely payments help you to record the transactions on time and this saves you from the hassle of balancing your accounts in last moments.
5. Clear your outstanding dues on time: make sure you pay all your creditors on time. Long standing dues not only add up to the interest but also keep your books unbalanced for a long time. Avoid postponing the payments until it is extremely necessary.
6. Record your transactions under different headings: start with a broad heading of cash inflow and cash out flow. Under these broad headings enter all the transactions under specific headings. This will give you the clear picture of all the cash that has flown in and out of the business in certain time period.
7. Use one cheque book instead of two: this is important if you wish to enter all the transactions accurately. Using one cheque book will help you to keep a track of the entire amount that you pay to different lenders and creditors. This also helps you to record all the payments in orderly manner. The entry in the cheque stub can be used for verification if there is any error in balancing the accounts.

Keep a track on all the business transactions if you want your business to grow. To track your finance you don't have to be an accounting expert. Just follow the above mentioned points and manage your business finances.