New Years Resolutions
If your resolution this year involves spending
money it is worth being careful, knowing what you are
doing and shopping around.
Debt
Christmas is an expensive time of year and we may all
have spent a little (or a lot) more than we should!
If your resolution is to manage your debts better here
are a few things to bear in mind:
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Consolidating
all your debts may be a good idea, but shop around
to make sure you get the best deal. Although comparing
APR’s is a good place to start, you also
need to look at the length of the loan and how
much you will end up paying back |
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Transferring your credit card balance to another
provider can save you money, you may get an interest
free period or you may get a reduced APR for a
fixed time. But check the small print, as you
may not be able to reduce the transferred balance
until you have paid for new purchases or after
the introductory period the APR may be higher
than your old card |
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Be careful and do not feel
pressured into borrowing more that you can afford
to pay back. It is in the interest of the company
selling the loan to make you borrow as much as
possible, as the more you borrow the more you
pay back |
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Debt management companies may offer to reduce
your debt or “clean up” your credit
history if you pay them a fee. In many cases these
companies do nothing for you that you cannot do
yourself, or that your local Citizens Advice Bureau
or Welfare Rights Service can do for free |
Losing Weight
At this time of year you may have resolved to lose
that little bit of weight put on over the Christmas
period. There are of course a number of ways to get
started, as willpower may not work for all of us. If
you think joining a gym or using slimming aids is the
answer there are a number of things to look out for:
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Look carefully
at the gym’s terms and conditions especially
on cancellation. Some insist on a year’s
contract, so you may end up paying for a full
year even if you give up in February |
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If you can cancel look at what notice you are
expected to give, how long and does it have to
be in writing. If in writing it is advisable to
send by recorded delivery |
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Slimming pills or patches
can look like an easy way to lose weight, but
can you trust their miracle claims. Any advert
or product which claims fantastic weight loss
in a matter of weeks may be making a misleading
claim and should be reported to the Advertising
Standards Authority or Trading Standards |
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If it looks too good to be true it probably
is. Recognised expert opinion suggests that the
only way to successfully lose weight is to eat
sensibly and exercise |
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