Bill Ranson

The Commons Trade and Industry committee has stated that the recent rises in UK gas prices has lead to increased suffering by many of the most exposed groups such as the elderly and, “non-elderly vulnerable groups, particularly disabled people, whose difficulties in relation to fuel poverty have been known for a long time”.

A lack of gas supplies from Europe, and dwindling North Sea production has been blamed for the price increases by most of the major energy suppliers leading to average bills being put up by as much as 15% recently, with fears that costs are likely to rise even higher if the UK experiences a cold winter.

The Committee report also added that: “If fuel prices continue to rise it will be essential to provide further assistance to the elderly.”

The news also appears to be bleak for many non-elderly or disabled groups, following research commissioned by Egg.

The results of research by the online bank Egg has shown that the average household monthly income is just 1,953 in the UK while the average monthly spend on bills is 888. After all bills and regular monthly costs have been included, Egg calculated that the average Briton spends about 23 days a year, effectively without any money, and living on overdrafts and credit cards. A survey by YouGov earlier in the year found that 4 out of 5 people were not saving enough for a comfortable retirement, and personal debt was seen as a major factor for many in preventing future saving.

Egg suggests that a reliance on credit cards and poor budgeting are proving to be expensive for many consumers, who are currently borrowing to cover the short-fall at an average authorized current account overdraft rate of 12.6% and at an unauthorized rate of 24.3%. To add insult to injury, almost a third of consumers have been penalised by their current account provider during the last 12 months, at an average cost of 27.

The financial comparison site Moneynet ( http://www.moneynet.co.uk/ ) has also recently warned that when finances are stretched to breaking point then store cards and unsolicited cheques sent by the credit card companies can be very seductive, just to get through to next pay day. Moneynet chief executive Richard Brown says, We have always advised consumers to avoid credit card cheques like the plague. Many people have no idea that these cheques carry extra charges and do not work like the credit card in their wallet. Its unethical and irresponsible.

Mr Brown also feels that, Store card charging structures also need to be radically reformed. The worst offenders are invariably some of the most prominent names on the High Street, and government watchdogs need to properly show their teeth and crack down.

Following the festive period overspend a lack of financial knowledge and inadequate budgeting skills can lead to a very poor new year. The growth in the number of financial products and advice can lead to an information overload and a fear of taking any action, however the organisations such as the BBC provide some useful sources of information and several financial help sites like http://Moneynet.co.uk and Fool ( http://www.fool.co.uk/ ) have sprung up in recent years to enable consumers to get over their financial phobia and easily compare the rates of credit cards, loans, bank accounts, gas and electric suppliers as well as other financial services.

Until statutory legislation is put in place to control rates charged for credit, and other financial services, consumers need to take control of their own personal finances. While little can be done by most to significantly increase their income, most people can reduce the amount of unnecessary spending that occurs on a continual basis through the use of over priced financial services.

Disclaimer:
All information contained in this article, is for general information purposes only and should not be construed as advice under the Financial Services Act 1986.

You are strongly advised to take appropriate professional and legal advice before entering into any binding contracts.

Are you a Freight Broker? Learn How to Grow by Financing your Freight Bills through Factoring

Running a freight brokerage can be very profitable. Although being a freight broker can be very rewarding, financially speaking, it can also be very challenging. Especially since drivers depend on you to pay them quickly. And many times, your clients make you wait 30 to 60 days before they pay you.

So you have a challenge. Your drivers want to get paid quickly but your clients want to pay slowly. The math doesnt work. Unless you have a nice cash cushion in the bank, paying your drivers will be a problem. And trying to get bank financing will get you nowhere. Banks always provide financing based on your past history. What if you are a new or expanding freight broker?

A better solution is to finance your freight bills through freight broker factoring. Freight factoring provides you with immediate money for your freight bills, giving you the necessary funds to pay your business expenses and most importantly your drivers. And, as opposed to business loans, freight factoring is easy to obtain. While banks usually look at your past history to make their credit decisions, factoring companies look at your future potential. The main qualification requirement is that you do business with credit worthy clients that pay on time.

If you are a freight broker, factoring your freight bills may be a little bit different from traditional factoring. Most factors will team up with you to find a solution to pay your drivers on time, since this is essential. Others may even pay your drivers on your behalf, helping you handle back office tasks.

Freight broker factoring works as follows:

1. Once the freight has been delivered, you send copies of the documents to the factor

2. The factor advances you up to 100% (less fee) of the freight bill

3. You get immediate use of funds, while the factor waits to get paid

4. Once the client has paid, the transaction is settled

One of the big advantages of factoring is that it is easier to get than a business loan. And, as opposed to business loans, factoring financing grows with your business. The more you invoice, the more financing you qualify for.

Are You Screaming “Help Me Pay My Bills”? If So, Find Out How You Can Pay Your Bills

We all know how the system works. If you can’t pay bills, you will be eventually left with no power and heating in your home. If you cannot make the adequate credit card and loan repayments, you automatically have a bad credit. So, you are left struggling with limited financial borrowing options for the rest of your life and even if you somehow manage to get a loan, the interest rates are sky high. That is why the best solution is to rely on your own ability, knowledge and skills to increase your income. I this way you will not need help paying bills.

Starting your own business might be a startling idea at first especially if you are asking: “can someone help me pay my bills?”. Most people generally assume that the entrepreneurship is something that requires too much effort and money investment and the profits are way too volatile. From there comes the notion that it is not worth taking up such a serious task just to make enough not to be saying “help me pay my bills”. However, with the new technology and fast communications, there are numerous options for a successful business.

Internet affiliate marketing is definitely one of them. Firstly, it does not require any specific set up or initial sunk costs. The variable monthly expenses are also very small and numerous money-saving options are available. Moreover, this type of business venture does not require any particular expertise – as long as you make some minimal effort to make your website visited and employ some basic marketing techniques. Affiliate marketing is not a time consuming business either. So, you can comfortably change your help I can’t pay my bills motto.

This type of business is generally profitable especially given the low costs you will incur. The size of the profit, of course, depends on how much you have invested in terms of effort and creativity. Overall, it is a beneficial way to make some extra cash and you can forget about crying out “help me pay my bills”.

You should also visit http://helppayingbills.us to learn more tips

There are a lot of people who have become accustomed to borrowing money from one place to pay back with the owe with another place. Another thing people are doing is using their own personal cash to pay the minimum payments but then they use credit cards to pay for the rest of their living expenses. This method usually only makes your situation worse than what it already is.

If you do not want to fall into this trap or if you have fallen in this trap and need a way out then the first thing that you need to do is stop spending money in which ever areas of your life that you can. Only spend what you have too and only use money that you have. Do not purchase everything on your visa, discover, or any other card that you may have.

The next thing you should do is record every bill and payment do each month for your home. After you write down what you owe on a monthly basis, you need to write down other expenses such as food and gas for your car and any thing else that you know you will need on a monthly basis.

Thirdly, you need to figure out which company you want to deal with first – which ones are the most important. You should deal with what you need first. If you are not sure, then I would recommend mortgage, car, food, and gas. You need a roof and food but you do not necessarily need cable or lights – use candles if you have too. Do not be ashamed. You have to do what ever it takes in order to get your life back in order. As far as the credit card bill, you can start with the one with the highest interest rate, the highest amount or you can start with the smallest one and start paying them down one by one.

If you want more information about getting assistance, Please visit the Consolidation Assistance Guide.

Here you will learn what steps to take in order to get proper Debt Assistance.