‘Demand’ For Generic Financial Advice

There is a great need for a generic financial advisory service to be rolled out across Britain.

So claims Citizens Advice, following analysis of a pilot project it carried out with a number of independent financial advisers (IFAs) and the Personal Finance Society. Funded by Barclays and Aegon, the Moneyplan scheme saw some 30 IFAs offer face-to-face monetary advice at Citizens Advice branches throughout the country for free.

Following on from such guidance, it is possible that consumers will be able to secure access to cheap loans and other competitively-priced financial products, so helping them to get back on to their fiscal feet.

Overall, pensions, mortgages and investments were among the main areas consumers were looking for advice on. Insurance and understanding documents from money providers, which may include loan lenders, were also sources of requests for help with money.

With owner-occupiers, aged 50 years or above and who are on a relatively low income, making up the majority of clients using the Moneyplan service, the company advised that “the trigger” for causing people to seek out help with their finances often follows on from retirement, illness, bereavement or becoming redundant.

For those people concerned about handling their finances should they be affected by any of the above life-changing circumstances, a low-rate personal loan could be a means of financial assistance.

Findings from the initiative also revealed that more than half (55 per cent) of those seeking guidance were on a low income, earning less than 1,000 pounds per month. Meanwhile, 71 per cent of such people were shown to be over the age of 50, with 46 per cent reported to be living alone or in a couple who do not have any dependent children. In addition, just less than half (48 per cent) have a mortgage, with 31 per cent of those who go to Citizens Advice for help own their home outright.

Currently, the provision of generic fiscal advisory service is the subject of an independent review, headed by Otto Thoresen. Citizens Advice went on to report that there is “significant demand” for such assistance. However, the guidance institution suggested that many people often do not think about getting help from an IFA or believe that they may be unable to afford such advice.

Jackie Nowell, head of partnership development for Citizens Advice, said: “The results so far of partnering Citizens Advice Bureaux with IFAs in the Moneyplan project indicate both that there is a need for a national generic financial advice service and that this is an effective model for delivering it. The range of issues presented to the IFAs is broad, but it appears that there is particular demand from those who may own their own homes, but have low incomes. This evidence emphasises that there is a gap in provision which needs to be addressed.”

From receiving comprehensive financial guidance, it is possible that people might be able to seek out competitively-priced personal loans, savings accounts, credit cards and other financial products with greater ease. Following on from advice on loans and other areas, people may find that they are able to get to grips with money more effectively. However it may be advisable to stick to the professionals when seeking help. A recent study by Birmingham Midshires indicated that 16 per cent of consumers have been given poor monetary advice from either a friend or family member, which has seen eight out of ten people suffer financially.

Take Heed of Sound Financial Advice For A Gratifying Retirement

We are aware that the economy worldwide is struggling to maintain its stability. People around the globe are having a hard time coping and surviving to maintain its own personal economic finances. Choosing your destiny is not an option, but deciding your future is the best opportunity that you can offer to yourself and your family. We fully understand that everything we do involves monetary value. That is why we should prepare ourselves to have extra funds for emergency purposes and for future reasons. We can acquire this through saving our money, economising our resources, and protecting our assets. Employing a person or a company to handle and manage your finances and giving you financial advice on how to economise and save money is the ideal thing to do.

One of the soundest advices a professional planner can tell you is to invest in health and life insurance while you are young and fit. The reason behind this financial advice is that with youth comes vigour and wellness. A person has a very low risk of dying at a young age. Although it is not impossible, the probability of it happening is very minute. Health wise, a middle aged person’s physical condition gradually starts to deteriorate while a twenty something individual is more or less at the prime of his life. In the insurance company’s point of view, older individuals are more likely to make a claim than younger individuals. Therefore, it would be a wise move to start working through your contributions at a young age while the premiums are still cheap.

Another good thing about this scenario is that you will be able to pay off your premiums earlier thus allowing you to reap whatever benefits it has in store for you. This means that you won’t have to wait until you are too old to be able to enjoy the rewards of your investment. If you play your cards right, you might be able to live a comfortable life in your late fifties even before your retirement age. Imagine the things you could do by then. You could travel the world, explore the cultures of other countries, go on a cruise, or purchase things you’ve only dreamed about before. Apart from that, you will be able to secure your family’s future.

Some people may not agree, but there are parents who worry about the inheritance they want to leave to their children. As a parent, there is that part of you that wants to make sure your children, no matter how old, will not be left empty-handed. Others would want to make sure that everything is in place, from their retirement to their funeral arrangements so that they would not be a burden to the loved ones they would leave behind. With that said, it is indeed a wise effort to perform wealth management, be it by yourself or with professional help.

Compare Cheap Car Insurance – Tips on How to Get the Lowest Car Insurance Quotes

When it comes to comparing the free car insurance quotes obtained online, most car owners just compare prices. Yes, it is important that you walk away with an affordable price, but cost is not the only factor you should consider when seeking cheap car insurance.

Once you have all of your cheap auto insurance quotes in an easy-to-compare format, which most comparison websites automatically compile them into; it is time to examine the coverage.

Get Enough Coverage: Sometimes, opting for your state’s minimum requirements for auto insurance is not enough. A newer car, one that you owe more money on, needs additional protection. Cheap car insurance is nothing but a waste of money in the end if you do not get the coverage you need.

Check the History of the Company: In today’s economy, many businesses are quickly folding like a deck of cards. You do not want to pay for a year’s worth of car insurance only to have the company close in 2 months. For that reason, check their financial rating. Next, place a call to insurance company and ask any questions you can think of. Your goal is to test the customer service provided; it better be good! You can also read reviews online to see what current or former clients have to say.

In short, it is more than possible to find cheap, quality auto insurance. However, you cannot base your decision solely on price because this can be a costly mistake. Request free insurance quotes online and compare quality of service, coverage, and price. By doing so, you not only get affordable car insurance, but the best value for your money.

Get Sound Financial Advice For Women

Many women are in a position where they are responsible for everything and it is because of this that they are going to want to look for quality financial advice for women. With this responsibility, for anyone really, is a lot of pressure. This pressure can be eased if you simply know what it is that you need to do in order to improve your current situation and to protect your future.

So many people will say that women have a lot of trouble saving because they simply like to shop. While that may be true in some cases, the majority of the time the problem is because they are responsible for purchasing and paying for everything. And when the income is a reflection of only one person working, it can be very difficult to save a thing, especially if there are children in the house.

The great thing is though that there is a lot of money advice out there. You will find that there are some people and some places that are able to give financial advice for women, that is geared towards their personal struggles. You can’t get advice like this just anywhere. Since you are dealing with your financial future, you will want to make sure that you are carefully selecting who you take advice from or at least what action you take on the money advice you receive.

One of the most important things to learn is that of budgeting. Budgets will go a long way if you know how to properly use them. With the right budget, on just about any size of income, you can do a lot of good. You might actually be able to finally start saving money for the first time in a long time. And the more you save, the easier things will be for you later down the road.

After you have the budget down, make sure that you are looking over it closely. Is there anything left behind that you could remove or alter in order to create a better financial situation for yourself? Also, even though it might seem counter productive, you are going to want to see what you can do about allowing yourself a little “fun money”. Maybe this would be to go to the movies or out to dinner once a month.

You do not want to completely restrict yourself of any extras because you will eventually break the budget when you’ve “had enough” and then you will be worse off. You will want to make sure that you are allowing yourself a little fun and that you keep it within reason. Just about any legit financial advice for women would tell you that.

So, in order to start living a better life, paying all of your bills and saving for your future, you are going to want to see who out there can give you the best possible money advice. Look for the people or companies that have been successful at giving financial advice for women in the past.