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Universal Credit: All you need to know
If you’re struggling with debt, Universal Credit (UC) can be a vital lifeline. Offering financial support and a pathway to regain control of your finances, UC was introduced as a way to simplify the UK’s state welfare system. Since its introduction in 2013, UC replaced what used to be a series of individual benefits with…
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How much to spend on Christmas gifts
With Halloween and Bonfire Night out of the way, it’s almost time to get the Christmas decorations out once again. For the majority of us, the festive period is a season of joy, love, and togetherness – but for many others, it also brings financial stress. And regardless of whether you’re financially comfortable or struggling…
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Key announcements from the Autumn Budget 2024
The Chancellor Rachel Reeves delivered Labour’s first Budget in over 14 years on October 30th, 2024. Before the announcement, we had a look at what was predicted to be discussed. Were the predictions correct? In this article, we’ll summarise the key points the Chancellor delivered, comparing them against the predictions and discussing everything from the…
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Beware of Debt Management Scams: How To Protect Yourself
When you’re in a Debt Management Plan (DMP), the last thing you want is to be targeted by scam companies promising quick fixes. Unfortunately, scammers know that people in financial difficulty may be more vulnerable and some will try to exploit this by offering “hardship payments” or enticing loans to encourage you to switch debt…
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Black Friday and Cyber Monday 2024: How To Resist Temptation
Black Friday and Cyber Monday have become major events in the shopping calendar, tempting millions to splash out on everything from the latest tech gadgets to fashion items and homeware. However, while these days are marketed as the perfect opportunity to save big, they can easily lead to overspending, buyer’s remorse and unnecessary debt. With…
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Good Debt vs Bad Debt: What You Need To Know
Debt is a reality for most people, whether it’s a mortgage, a student loan, or credit card balances. But not all debt is created equal. Some forms of debt can be considered “good” because they help improve your financial situation over time, while others are “bad” due to their high interest rates and lack of…
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The Success of Debt Management Plans
Struggling to keep up with multiple unsecured debts? If so, you’re not alone. In a recent ONS survey conducted in May 2024, 54% of respondents believed their living cost had increased compared to just one month ago. The same survey found that a third of individuals in the UK don’t think they’ll be able to…
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Dealing with Debt: 5 Things You Should Know
Struggling with debt can feel very overwhelming, especially when it spirals into a full-blown debt crisis. For many living with debt, sleepless nights, a constant feeling of stress, and even an ongoing sense of helplessness and dread are common. However, it’s essential to remember that, no matter how bad your financial situation might seem, there…
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How Much Should I Pay Into My Pension?
Saving for retirement can often seem complicated. With so many factors to consider including your age, income, lifestyle and even your debts, it’s easy to feel overwhelmed. However, planning for your future is critical and knowing how much to pay into your pension is a crucial part of that planning. This guide will break down…
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How To Talk To Your Partner About Debt
Debt can be a challenging topic to bring up with your partner, especially if it has been hidden or left undiscussed for some time. However, financial transparency is essential for building trust and fostering a healthy relationship. Talking about debt openly allows couples to work together towards solutions and prevent financial issues from becoming larger…
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What Does Debt To Income Ratio Mean?
Used by lenders to assess your financial situation, a debt to income (DTI) ratio is used to work out the balance between your income and debt payments. If you have debt and you’re applying for a mortgage or loan, working out your DTI ratio will give you an indication of how much of a risk…
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What Happens If You Don’t Have a Will?
When a loved one passes away, it can be a stressful time. The emotion that comes with death, combined with the essential administration that needs to be completed can make a really difficult time of your life even more challenging. However, at least part of this load can be alleviated if the individual who has…