Mothers and Personal Loans- Money Management Tips

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Managing your finances effectively is a critical skill regardless of whether you are married or a single mother. Developing such skills will enable you to take control of your money and avoid the financial challenges that arise from bad management. Being disciplined and responsible when handling different aspects of your financial obligations as a mother will keep you on track.

Budget for the Family

If you are responsible for paying bills and you are married, it is advisable to keep your spouse involved as much as possible. It is important to discuss income and expenses with your partner and create a budget for your family that the two of you are comfortable with. This ensures that the choices that you make regarding your finances are respected and adhered to.

The objective is for mothers to have budgetary boundaries that guide their expenditure. It is essential for mothers to manage their finances by establishing a budget that will enable their families to achieve financial goals. A budget helps you control your spending and avoid reckless decisions that can disrupt your financial capabilities. Everything should be included in your budget ranging from utilities to loans.

Divide Income

All the money you have should be assigned to a specific purpose. Any money that is not assigned is likely to be wasted instead of using it in a way that can be beneficial for you and your family. Setting goals according to the finances you have will make it easier for you to control every cent. Divide your income into different funds according to the amounts that are required for each financial responsibility.

Allowances

Aside from setting aside allowances for your children, consider assigning yourself an allowance as well to facilitate personal purchases. Make sure that your budget can accommodate a certain amount that you can spend on things you want on a weekly or monthly basis. Mothers deserve a treat that they can look forward to as long as they plan ahead and can afford it. Find personal loans here.

Getting a Personal Loan

When mothers want to determine the kind of credit that is most ideal for their needs, factors such as the amount of money they need, urgency, terms and lenders available will form the basis of their decision.

  • Online personal loans can make it much easier for mothers to fulfill a variety of financial responsibilities. Aside from being able to shop for a loan from the comfort of your bedroom, a personal loan also enables you to save time and money.
  • A major advantage for mothers who opt for a personal loan is that you will be able to gain access to various lenders. This saves a lot of time and gives you the chance to use advance your search to ensure that you get the type of loan you want according to terms and rates.
  • Applying for an online personal loan is a great option for busy mothers who want a quick and easy way to access reliable funding for various needs that range from renovations to car repairs.

Bio

Joan Simmer is a freelance writer who enjoys covering a wide variety of lifestyle topics. She says it is always fulfilling to be able to share helpful information with her diverse group of readers. To find out more about where you can apply for personal loans, visit the site.

Are More Families Having To Choose Between Heating And Eating?

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We’re in the throes of winter and coming home to a warm house has become the best part of the day. However, for some, switching on the heating can be a huge decision.

iCount recently conducted a survey to find out why more and more households are leaving it till the very last minute to switch on the heating. Even if it’s icy outside, families are refusing to turn on the heating. Ever increasing energy bills are forcing people to make a big decision, food of warmth?

The survey revealed why many families are choosing to spend their monthly income on food rather than heating their homes and the extremes that people are being forced to go to pay ridiculous energy bills.

Loans and credit cards are becoming the main source of payment for bills

When we get that dreaded bill through the post or in our email inboxes, the first thing we think about is how we’re going to pay it. Maybe you pay yours via direct debit or leave it till the last minute.

For 300,000 people in the UK, credit cards are becoming the go to form of payment. Credit cards are giving people borrowed time to deal with their bills, but high interest rates mean many people are racking up even bigger debts.

Other than credit cards, 20% of Brits are taking out personal loans to pay their energy bills. Again, this is racking up more debt than if a direct debit or debit card was used. These increases in loans, credit card payments and overdrafts shows how average households are struggling to pay for simple living costs.

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When does heating become a priority?

More and more people are waiting for the weather to become unbearably cold before they will consider putting the heating on. The most popular months being October and November, when the days are particularly cold and rainy and almost ¾ of those will avoid putting the heating on, even if they do feel cold at home.

With rapidly growing energy prices, heating bills are taking up more of the populations monthly income, leaving less and less for other living costs like food or rent.

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Why are families having to choose?

It’s not just energy bills that are forcing people to ignore the brown envelopes that are popped through their letterboxes, council tax bills are one of the most difficult bills to pay. Almost 1 in 10 Brits owe more than £300 in council tax arrears and another 1 in 10 have been in arrears with their bills for almost a year.
There are a few things you can do to make sure that you don’t have to choose between heating and eating this winter. Investing in proper insulation for your home can prevent heat escaping through cracks and gaps. You should also look into using online comparison sites to find the best deals on your energy bills and find the cheapest provider. It’s best to check this yearly to make sure you’re not paying too much and keep energy bills at a manageable rate.

 

Vaping – The Parental Concerns

As I have mentioned in previous posts, I am a fan of Vaping. I’m a non-smoker, but I am married to an ex-smoker who had smoked heavily (30 a day) for almost 30 years before he was able to quit fully three years ago. He was able to do this through initially using vaping to cut out regular cigarettes, and then to give the vaping up too. Three years on, he has not returned to cigarettes and I am every day astounded at the change it has made to our lives, his health and our finances. For me, Vaping is a positive thing that can change lives.

But, according to some research from the E Cig review site this year, some parents have clear concerns when it comes to electronic cigarettes and Vaping. Because although two thirds of those questioned see the clear benefits of vaping in helping to quit the deadly weed, believing it to be an effective method of quitting, it seems that many have concerns on the influence vaping can have on young children and teenagers.

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The results show that not only do 66% of parents feel that an adult smoking an e-cig would not discourage a child from smoking tobacco, almost the same percentage think that an adult smoking an e-cig could actually encourage a child to start the habit. E-Cigs smell much sweeter than normal cigarettes, and with the pretty light at the end, some parents are concerned that they look and smell good which can be tempting for susceptible, easily influenced children.

 

So do e-cigs tempt children? Are they something that can draw youth towards cigarettes rather than keeping them away? Research from the NHS says not, and that almost all e-cig users are former smokers who are trying to quit, or at least cut down on traditional cigarettes. It seems that parents misgivings are thankfully unfounded, but it maybe pushes the message that more education about e-cigs and vaping are definitely needed because anything that can help people to quit smoking must be a good thing.