It can be difficult and time-consuming to learn how to make the most of your money, so whether you simply want to manage day-to-day finances more efficiently or are planning for investment or retirement, it can be well worth seeking some sound money advice. If you live in the UK and are aged over 18 you can access financial advice on topics such as first-time credit cards and personal loans, savings accounts, mortgages, insurance and pensions. You can get assistance with mis sold PPI claims, flight delay compensation claims or personal injury claims, and there is also help available for choosing energy and phone, television and broadband packages – vital for keeping those regular expenses down.
A great step towards financial security is to compare savings accounts in order to get the best returns possible on your hard-earned cash. With many products available offering different terms, durations and flexibility, it makes life easier to compare savings accounts deals from all the major banks, building societies and other providers so you can pick the account best suited to your requirements.
Sometimes unexpected bills or changes in circumstances can result in money problems like exceeded overdrafts, bounced payments and bank charges, and it can be tricky to get back ‘in the black’. If this happens, it is important to seek debt help as soon as possible to ensure repayments are manageable and balances are being rectified. Debt help includes advice relating to reviewing and prioritising what you owe so that you can arrange affordable repayments and rebuild your credit score.
There are many occasions when reviewing your credit score can be beneficial, for example when considering a loan or mortgage, so you could require money advice for seeking out free credit reports. Free credit reports provide information on your credit history and credit score, enabling you to see what potential lenders base their decision on when considering you for lending.
Credit history comprises information on borrowing, such as credit or store cards, and details activity including applications and defaults. Your credit score summarises the overall health of your borrowing, with a high score indicating someone who takes credit and makes regular repayments with no defaults and a low score representing a history with multiple declined credit applications or recent missed repayments. Obtaining free credit reports is also useful in checking accuracy so any erroneous records or unauthorised credit checks can be addressed, and in preventing identity theft.
Planning for the future is essential to ensure financial stability for yourself and any dependents you may have. Many people consider things like property, retirement and making a will, but it can be easy to overlook the immediate financial difficulties that can arise upon a person’s demise. Considering prepaid funeral plans is a sensible idea at any time of life, but can work out cheaper the younger you sign up because of the constantly rising prices caused by inflation.
Following a death, even with a will in place, legal formalities can take several months to complete, leaving family or friends footing the bills for funeral arrangements in advance of any inheritance being received. Those closest to you would also be likely to have to tie up loose ends in relation to any property or other affairs, and these tasks are all the more difficult during times of bereavement. Therefore it is worth comparing prepaid funeral plans so you can try and budget for one to ensure peace of mind that your nearest and dearest will not have to worry about arranging and funding the particulars of a funeral in the event of your death.
Many UK citizens were affected by the mis selling of Payment Protection Insurance (PPI) over the past decade when taking out loans, mortgages or credit cards. Numerous people were not correctly informed about the insurance or were not even made aware they were agreeing to a policy, and hence legislation was introduced to enable those who can prove they were a PPI policy-holder and were mis sold the insurance to claim back all costs associated with it. With so many policies having been mis sold, a multitude of specialist organisations emerged to assist the public in making mis sold PPI claims, but with so many to choose from and with the average claim being worth around £3,000, it is recommended to seek advice.
Other examples of when you might need financial advice are when considering making flight delay compensation claims or personal injury claims. When a flight is delayed, cancelled or overbooked, it can be troublesome and expensive for passengers to make alternative transport arrangements at such short notice, so claims can be made to recoup some of the extra costs incurred.
Injury claims can be necessary in cases including accidents at work and work-related diseases or disabilities but they are also made in instances of psychological illnesses caused by the workplace or child abuse and for physical or psychological injuries sustained as a result of a crime. As with mis sold PPI claims, it can be difficult to know where to start, so for flight delay compensation claims and personal injury claims, seek some financial advice.
Whether you need debt help or are looking to compare savings accounts, prepaid funeral plans or other financial products, seeking money advice will save you time and help you find the best deals.