Finance

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Study Abroad

There’s a lot to think about when you’re moving abroad to study in a new country; is your accommodation going to be ok? Do you have the right books for your course? Can you fit all of your clothes into that case!? The last thing you want to worry about is the hassle and additional cost of sending money abroad to pay for your tuition fees.

Studying abroad can be pretty expensive with annual tuition fees costing over £80,000 in some cases, therefore making savings where you can is so important. To help you save as much as you can when paying these fees, we have put together 5 things to check before you send money abroad:

1. Check The Exchange Rate and Time Your Transfer Accordingly

Exchange rates fluctuate all the time and it can be hard to know if you are getting a good deal or need to wait and hold out for a better rate. To assist you in this process, tere are many platforms that allow you to set up an alert system for your chosen exchange rate.

2. Check Your Bank Fees on Overseas Transfers

Check with your bank what their overseas transfer cost is for the amount you will need to send, this will vary between banks and commonly is not the most cost effective way to wire your funds. While in the grand scheme of things, the bank fee percentage may not seem too big, when you apply it to a large sum of money such as a tuition fee it soon adds up to a considerable charge

3. Compare Rates on a Money Transfer Service

Consider using an online money transfer service to send your money rather than transferring it straight from your bank account. There are many benefits to using a transfer service that not only make the process easier for you but also offer huge cost savings along the way. Currencies Direct are one of the largest suppliers of this service and offer a 24/7 strict no transfer fee policy, so you can be sure that you wont be met with any additional costs.

4. Understand Your Payment Window

If you fail to make a payment on time you can incur late fees. And whilst you need to hit the timing right on the exchange rate, it is vital that you know when your tuition fees are due each semester and ensure payment is made in time. This information should be available before the start your course and your education provider will also be able to inform you of this on request.

Many online money transfer services offer the ability to schedule your regular overseas payments to ensure that your money is transferred on time, this means you can set them all up at the start of the year. Be sure to give yourself a window of time before the payment date to factor in the money transfer time also, check this out with your provider!

If you’ve studied abroad before, do you have any other tips for this years students to consider?

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eBay deals

This weekend eBay.co.uk has announced a HUGE bank holiday sale, slashing prices on a wide range of new, branded household goods.

At Budget Breakaway, we love a good bargain and as much as we like to save, some of our smaller appliances inevitably need replacing as time goes on. The bank holiday period is the perfect time to hunt for a discount on these items. Especially if you’re looking for clothes, technology or kitchenware.

This time around, eBay is the place to feast your eyes. As in response to a recent survey they have landed some impressive discounts with major brands for the bank holiday period.

If you head over to eBay.co.uk/deals between 24th to the 28th August you’ll be able to find some serious bargains such as:

  • Up to 25% off KitchenAid with kitchenaid_outlet
  • Save £50 when you spend £200+ at dyson_outlet
  • Save up to £150 on top tech with currys_pcworld
  • Save up to 20% of Halfords with halfords_1
  • Up to 25% off Boohoo dresses, jumpsuits & playsuit at Boohoo_outlet

The biggest challenge whilst bargain hunting during national holidays is getting your stock. After browsing the Currys eBay deals this morning it’s clear things are flying off the shelves – act quick.

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Is your poor credit rating looming over your every financial decision? You are not alone! In the current financial climate it is becoming increasingly more common for new and existing home owners and renters alike to be turned away by home and contents insurance providers as a result of their poor credit rating. But this isn’t the end of the line for you, there are still options available…

Why has my credit score affected my insurance premium?

Insurance companies follow the same strategy as all other money lenders in that they want to be sure that you can afford the monthly repayments for your insurance premium. Unfortunately your poor credit score doesn’t paint the best picture for your future ability to keep up with regular payments.

What can I do if my insurance is turned down?

It’s never too late to improve your credit score; from jumping on the electoral register to applying for a credit card – there are plenty of things you can do to rebuild your rating. However, your score is not going to go from red to green over night so you are going to need to find some cover in the meantime.

In this instance, the most important thing to look for in a home insurance provider is that your premiums are not heavily biased by your low credit score.

Doing your research into companies that will accept you based on your rating is going to take some time – so we’ve done the leg work for you!

CoverBuilder are a specialist home insurance provider who specialise in protecting individuals who are struggling to get insured due to their individual financial circumstances. In fact, they are able to offer payment options to 95% of cases with poor credit.

Will I have to jump through hoops to find out if they will accept me?

If you have been turned down by a different provider, you might think that a company who is willing to take you onboard based on your history will expect a lot from you and will leave you lingering while they calculate the risks.

We’ve found that CoverBuilder only require the basics to be able to offer you a quote, so once you’ve completed your online application form they are able to provide you with an instant decision. They also provide a friendly online instant chat service for support, so you don’t need to worry about discussing your financial woes over the phone with an unsympathetic call centre robot.

Don’t forget, it’s really important that you’re upfront and honest with your insurance provider and declare any previous financial difficulties with them. If you later need to claim and they find you’ve been dishonest you’ll be at risk of not being eligible for a payout when you might need it the most.

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The global forex market is witnessing a daily trade of over $4000 trillion, and is emerging as the largest financial market across the globe. Owing to the immense popularity of forex, traders of all levels ranging from amateurs to professionals are enticed by it.

Forex is easy to trade, there are round-the-clock sessions and you don’t need to put a high amount at stake to try it out. However, whether you are a well-seasoned professional or are just learning about the financial markets, it’s vital that you be wary of common pitfalls and don’t lose money.

Here are some essential tips that can help you avoid losing money in forex trading:

1. Start With A Practice Account

Nearly all trading platforms allow the traders to use the practice accounts, which are often referred as “Demo Account” or “Simulated Account”. One can place hypothetical trades with these accounts without requiring to put actual funds on stake. Using such an account, you can learn the different trading techniques and also become adept at the order entry techniques as small mistakes here can result in easy loss of money.

The most important part of a trading account is you can develop your own trading strategies and evaluate their effectiveness before getting stuck into real-time trade.

2. Learn Before You Trade

Forex is one of the easiest trading markets to understand and get involved in. However, just because it’s easy to get started it does not mean that you should enter unprepared. It’s vital to develop a thorough understanding of the various aspects of forex trading, and how the process of trading actually works.

You should also consider investing in some good Forex trading books to research the best trading strategies and top pitfalls which cause people to lose money in the markets.

3. Don’t Get Tempted By the Tools

Once you begin trading in the real world and open your forex trading account you will be provided with access to a plethora of technical analysis tools. Take these with a pinch of salt as some of them are a little biased and many do not show you the whole picture.

The most important consideration when using investment analysis tools is to look at how your stocks/shares have performed in the very long term and then consider any external factors which may have an impact on their performance.

4. Learn Money Management Techniques

Using the right money management techniques is very important to avoid losses during forex trading. Many seasoned traders agree that it’s not difficult to secure a trade at any price, but it is difficult to get out of the trade at the right time.

You should be aware of the techniques for money management and money saving strategies – especially the “Protective Stop Loss” to keep losses under control, if they occur.

5. Start With Small Stakes

After you have done your homework, spent time in your practice account and developed your trading strategies, it’s the right time to go live. You can now start investing and trading in real cash – start small, be patient with your trades and give them time to grow. As your confidence increases you can begin to increase your investments and operate at higher stakes.

Be wary of success, if you hit the right trade at the right time it can feel exhilarating but always be concious that trades can drop just as fast as they rise. To stabilise your level of risk, be sure to split your investment across multiple trades.

If you are new to Forex and are looking a reliable forex trading platform, take a look at ETX capital who offer an astounding array of trading and spread betting opportunities.

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cottage uk

There’s been a lot going on in the last few months, and 2016 wasn’t exactly a walk in the park either. So where has this left things for property?

Well, some experts are saying that the house prices are going to be flat for a couple of years. However, when you look into what flat means it’s just not rising quite so astronomically as they have been but still on the incline.

The other negative news to have but a dampener on things is the changes to stamp duty taxes that have had a huge impact on the number of transactions in the housing market. From April 1st 2016, Stamp Duty increased by an additional 3% on properties going up the scale, increasing the top band to 15%. The rates only affect people who are buying an additional property, such as buy-to-let properties and landlords.

However, amid the negativity, property developers and investors are still in a prosperous position. No matter what happens with Brexit or how cautious buyers are being, the fact remains the same: Britain needs more homes and where there is a demand, there is a market.

The area that has been most heavily impacted with a drop in prices and far less transactions is London. Since Brexit, it is reported that the capital has been the hardest hit with some places showing negative growth overall and being dragged lower by the most expensive boroughs.

Although London isn’t looking like the best opportunity at the moment, there are other areas in the UK that are thriving. The houses that are vanishing off the market the fastest can be found in Northampton, Milton Keynes, Edinburgh, Glasgow, Bristol and Southampton, to name a few.

According to Prime Location, Northampton is attracting people who have been forced out of London’s price hike and in 2014, Northampton was voted the best place in the UK to start and run a business by credit reference agency Experian. Prime Location also suggests that development is thriving in Northampton with plenty of opportunities for investment in rental properties as well as buying off plan plots.

If you’re looking for property investment solutions outside of London, it may be best to organise your thoughts and speak to a professional. Daniel Goldberg, First Urban’s director and shareholder, would be able to provide plentiful advice on the current housing market, where works best for you as an investment and how you can still make a profitable business out of property investment.

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Study Abroad

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There's a lot to think about when you're moving abroad to study in a new country; is your accommodation going to be ok? Do...