Try not to worry about money. Instead, stay positive and work towards a solution.

Experiencing financial difficulties can be an extremely stressful situation to deal with. No matter how careful we are, there may be times when the money does not last as long as the month does! On these occasions, some people turn to a Payday loan to help them through until they next receive their regular monthly wage.

It’s always good to save a little money every month, just in case you need it, and often having a little emergency nest-egg is a life saver when unexpected bills crop up. However, this is not always possible, and for many of us, saving every month is a difficult thing to do.

Payday loans are a form of short term credit that you can access if you need a small amount of cash until you are paid. You can borrow as little as £100 to help you out, and then on the repayment date, usually the same date as your pay day, you can repay the loan in full.

If you are considering applying for a payday loan, take some time to calculate the ‘Total Cost of Credit’. This is an important figure. The TCOC is the full amount the loan will cost you. It will include the interest on your loan and any fees. Before applying for your loan, make sure you know this figure and calculate whether you can afford to repay it.

By making sure you understand your rights and responsibilities, and by calculating the total cost of the loan, you will have a much more positive experience and be able to repay it comfortably.

If you are struggling to cope with long standing debts, a payday loan may not be the best option for you. If you are unsure, get some advice from a credit counselor or debt advisor. The most important thing to remember is to try not to worry, stay focused and do what’s best for you and your family.

Payday loans are a great way to access funds if you need them, and if you understand how they work, and can afford to repay your loan, there is no reason why you can’t use a short term loan to help you.

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Dowell managed Payday loans help to improve credit ratings?

We are asked this question on a regular basis, so we thought it was time to share our thoughts on the subject and give you an answer.

Payday loans are short term cash advances which are repaid in full when a borrower received their next wage. They usually do not last any longer than a week or two, and for the majority of borrowers, the loans are repaid when they are next paid.

Although your credit score is not necessarily taken into consideration by short term lenders, there is no doubt that if you pay off your loans, manage your credit efficiently and do not let anything go into arrears, that it will have a positive effect on your credit rating.

If you have credit of any kind, like a payday loan, a credit card, a long term loan or a mortgage, as long as you make the payments as required, and you are able to keep them up without defaulting or falling behind, then your credit record will remain strong, and your credit score will be good.
 
A bad rating is a result of defaults, failures to pay, or CCJs. If you have any of these issues, then you will need to work toward clearing old debts and re-building your credit score. If you are unsure about how you can do this, we suggest you speak to an expert who can help and advise you about managing debt and improving your financial situation. Organisations like CAB will be able to help you and advise you on the best course of action or who you should speak to.

If you have taken out a payday loan, and have repaid it as agreed, then this positive information will be stored on your credit record and will be used as favourable information when you apply for a payday loan again.

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Setting a budget is one way you can make your wages last a little longer.

No matter how hard we work, or what we are earning, there are occasions when the month lasts much longer than the money does! It is a situation that we have all experienced, and it can happen to anyone, no matter how careful they are. While some people may opt to borrow the money on a short term basis, there are also options to consider which will help to prevent this situation in the future.

Budgeting more carefully, so that there is a little money left to save at the end of each month, can be one way to handle those unexpected times when money is tight. Sticking to a budget for all your regular weekly and monthly expenses and bills, is one way to stay in control. By doing this you will have a much clearer idea about how far your money is stretching and were you may be able to make savings.

We are hearing that many families are reducing their electricity and gas bills by looking for cheaper tariffs, and we have also heard that huge savings are being made by shopping around for cheaper telephone, mobile phone and broadband services. Even ten or twenty pounds saved per week can add up to a significant amount of money over a year.

For example:

Reducing your mobile phone bill by £10 per week for a year can add up to £520 in a year.

Reducing your heating bill by £15 per month will add up to £180 in a year.

Cutting back on buying expensive coffee while you are at work can save you a significant £25 per week! Over a whole year this adds up to £1300!

So, by doing three simple things to cut back on expenditure and finding cheaper options, you could, after one year, save a total of £2000! Now wouldn’t that be a nice nest egg to have stashed away in time for Christmas? If you start now, you will be able to do it in time for Christmas 2014. Good luck!

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Is your paperwork piling up again? Here are some tips to help you stay in control of your personal files.

Sometimes, when we are struggling financially, even the most regular tasks can feel stressful. We’ve all experienced that feeling of frustration, staring at a pile of letters, bills and papers that need to be sorted and filed away. It can feel like agiant task, and often seems easier to stuff it all in a drawer and forget about it!

However, stashing your bills and papers away will just help them to turn into an even bigger pile, which will take longer to deal with in the long run. One of the most difficult aspects of struggling through financial difficulties is the feeling of not being in control of our own situation.

One way to take control and feel in charge is to get your paperwork in order. This simple task may be daunting to start with, but once you’re done you will feel great. You’ll know exactly what the situation is and understand every aspect of your situation.

By staying in control of our paperwork, we will find it much easier to stay in control of our finances. File away your bank statements on a regular basis. Keep a separate file for all the bills that still need to be paid, and file them in order of date so you have the most urgent bills at the top.Make sure you look at the file regularly, then as soon as you have paid a bill, take it out and file it.

This is a way of informing yourself, getting to grips with what is outstanding, what needs dealt with immediately, and what you can do to address each item. If you do this regularly, you will find it much easier to deal with bills on a regular basis, and you are less likely to be shocked by an unexpected demand for immediate payment. You will also be able to stay clear of falling behind with payments or defaulting on credit agreements which can seriously affect your credit record.

Often, after a long day at work, the last thing we want to do is spend time dealing with paperwork. However, if you get into the habit of spending an hour every week dealing with your mail and filing important letters and bills, you will never have to worry about unexpected bills or default payments ever again.

Stay informed, stay in control and stay a step ahead. Then, when you need to make decisions, apply for a short term loan or deal with a bill, you will know exactly what needs to be done and how to deal with it. And you will know where all your important papers are!

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Financial stress can be harmful to your health!

As the colder weather approaches, many people are already picking up colds and flu. During this time of year, we are more susceptible to stress. The nights are getting darker, it is colder, and everyone is back at work, and the kids are at school.
 
This is a time of year when it can feel as if things are starting to get more expensive again too. The heating and lighting bills go up. The weekly shopping bill might go up a little as we stock up on winter foods, and with the family back at work and school, daily expenses like fuel, lunch money, and transport costs can all add up.

With every season comes change in the weather, and for many families it also brings change in finances. Don’t let the end of summer get you down. Stress and worry can make you even more susceptible to colds and bugs that may be going around.

We are all naturally less active during the autumn and winter months, so do what you can to rest as much as possible when you are not working. Eat plenty of healthy, wholesome foods to keep up your energy reserves, and make sure you are getting a little exercise every day.

This may sound like odd advice to help you through difficult financial times, but in fact, taking excellent care of yourself will help you keep stress and illness at bay, which will in turn, keep you stronger and more able to deal with any issue that crops up.

Being short of cash, and worrying about how to make ends meet can feel even worse when you are struggling with a cold, hungry and exhausted! Be good to yourself. Give yourself a chance to stay in control and always do what’s best for you. If you need extra cash to help you through an emergency, you can consider all the options available to you and make a much clearer and more informed decision if you are rested, calm and in control.

Have a great autumn, stay cozy and above all, remember to look after yourself!

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There is no need to feel stressed. There are options for you if you need emergency cash.

Sudden financial emergencies can occur at any time and they can cause a great deal of stress. If you have been short of cash lately, you will know how upsetting it is. Being unable to access funds can make everything seem much worse, too. Help is at hand however.

For all of us, there are times when the money we earn does not last long enough and we need a little helping hand until the next pay day. Payday loans are an option which can address these situations and help you access the emergency funds you need.

Although payday loans are not the best option for everyone, they do offer a quick and easy way to access funds for thousands of people. If you are struggling with debt, or having difficulties coping with a low income, then this form of credit may not be the best solution for you.

However, if you understand how these loans work, and have calculated that you can afford the repayment on your next pay day. There is no reason why you can’t use it to borrow the emergency funds you need, and deal with the important things in life, rather than stressing about money.

Applications for payday loans are simple to complete and can be submitted online. If you are in employment, over eighteen, and can provide confirmation of your identity, address and employment, you will meet the requirements for borrowing.

Before submitting an application, make sure you understand the terms and conditions of the loan, and check that you have calculated and realise how much the loan will cost you. This is so that you can be certain you’ll have the full amount to repay on your pay day.

Remember that payday loans are short term forms of credit and they are not recommended as a way of dealing with longer term financial problems, ongoing debts or for day to day living expenses. They are designed to be used purely for emergencies.

Once you have decided what the best course of action is for you and your family, if you feel a payday loan provides the answer, then you will find the whole process easy and stress free, and you will have funds within the hour if your application is successful.

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