pounds christmasChristmas is the time of year for spending. People can get carried away with the good festive feeling and spend way above their means. Many of us will build up a considerable amount of debt during this festive period in order to give loved ones the prefect gift. The pleasure of giving and enjoying Christmas often overcomes concerns about getting into Christmas debt. After the bells have rang out for New Year and the Christmas tree comes down, bills hit the doormat, and suddenly there’s an impending feeling of doom in the form of big debts that need paying off.

Thankfully, there are ways of getting around the financial turmoil that many of us suffer from every January. Here are some top tips for reducing your spending next Christmas.
Shop Ahead of the Rush

Prices can be at an all-time high at Christmas, so look to buy presents earlier in the year and take advantage of sales, discounts and online specials. Shopping earlier in the year also allows you to avoid the dreaded crowds of other shoppers that fill our high streets every Christmas.

Become a Coupon King (Or Queen)

A little dedication will allow shoppers to collect certain coupons that give excellent value for their money. This will help the shopper to buy that expensive present that someone’s always wanted – for a lot less. Online companies like Wowcher and ItIsOn offer great deals all year round, but are definitely worth looking at as Christmas approaches.

Use Gift Cards as Presents

If the total Christmas budget is worked out based on what’s actually affordable, cash limits can be set for each person to stay within their budget. With a little self-discipline, the budget won’t be broken this way. Buying gift vouchers from  iTunes, Amazon and Spotify will allow you to effectively budget and can give the recipient a choice to get something they actually want.

Have a Small Contingency Fund

Christmas is a time for fun and sometimes that means doing impromptu things like going out on a whim or shopping on impulse. Saving a little each month during the year towards a contingency fund means that these little luxuries can be afforded without tipping a reveler into the red.

Shop at Discount Stores, Bric-A-Brac, Thrift and Charity Shops

Don’t be snobbish about these establishments as it’s possible to pick up some real bargains. The items sold can be high quality, diverse and interesting, just set aside enough time and patience for the task. High street charity shop chains such as Oxfam, Cancer Research UK and the British Heart Foundation are frequently inundated with donations from people clearing out in the lead up to Christmas. This means that there will be more bargains in stock now than at any other time of year, with the added feeling of satisfaction that the money you pay will go towards a good cause.

Get a Low Interest Credit Card

There are many great deals to be had on today’s credit card market. They’re a great way to save during the Christmas season with offers such as store discounts, cash back, air miles and more, all to save cash. Store cash back credit cards have some fabulous offers attached to them that can save you up to 10% off your total purchase. When you combine these discount offers with store sales, you can double and triple your savings!

It’s important to make sure, though, that what goes on a credit card can be paid off in full, quickly. Lower interest cards don’t penalize spenders quite so heavily for carrying forward their balance. Other options available from banks include overdrafts and small loans with a low rate of interest.  These can be ideal for securing finance over the festive period. However, always be sure to undertake some research first before taking out any sort of loan.

So, don’t feel blue now that Christmas is over and the financial pit of 2016 looms large. It’s possible for everyone to manage their Christmas spending for a stress-free year to come just by following one or more of the tips mentioned above to turn a situation of debt around and stop overspending in its tracks.

The important thing is to remember that saving, spending and shopping habits must change for the financial cloud to lift, revealing blue skies once again.


The Facts About a 770 Account

by Ryan Yates on December 10, 2015

770-AccountsType ‘770 Account’ into Google and you will immediately be confronted by a range of articles on whether it’s even real. Many people still don’t believe the 770 Account even exists.

In this article, we are going to go through some of the facts you need to know about the 770 Account.

A Life Insurance Policy 

The 770 Account isn’t some sort of secret IRS perk for people that it happens to get along with. It’s actually a type of life insurance policy you can buy from practically any mutual life insurance company. It’s a life insurance policy that, when structured in the right way, minimizes any death benefits paid while also boosting the cash value to its greatest possible heights.

The Tax-Free Argument 

The reason why many people don’t believe the 770 Account actually exists is because you can withdraw the cash value any time you like . . . tax-free. This is exceptional among life insurance policies. Most of the time you’re taxed heavily when you withdraw, and that doesn’t even take into account the penalty fees you face for early withdraw.

With the 770 Account, this isn’t the case. You pay nothing.

Are they Legal? 

The simple principles of these accounts say that something must be wrong and you are going to be doing something illegal. Since practically all licensed insurance agents can sell them, this should prove that they are perfectly valid. They are a fantastic fit for certain people and are completely legitimate. Yes, it’s a form of tax avoidance, but remember that tax avoidance is still playing within the rules set by the IRS.

The Main Benefits of this Permanent Life Insurance Policy 

Assuming your permanent life insurance policy is structured in the right way, it can bring many benefits. Take note that I frequently bring up this term ‘when structured in the right way’. It requires a touch of a professional to gain the most from a policy like this.

The main benefits are:

  • Tax-deferred growth.
  • Annual dividends.
  • The ability to withdraw the cash value whenever you like tax-free.
  • Protection from creditors.

These policies offer a spectacular rate of return, compared to other life insurance policies. In fact, they can even serve as collateral.

Disability Benefits

 As an add-on, you can take advantage of disability benefits. These will keep the policy valid until you are 65, or you are too disabled for it to continue. What we love about the 770 Account is that it transfers to your heirs 100% tax-free. You won’t find a better deal anywhere in town.

A Simple Conclusion

There’s a reason why the rich tend to use this account more than anyone else. You don’t get much of a return unless you’re borrowing the money from the policy. The principle is that the interest paid is paid to yourself not the bank. That’s what makes it so profitable. However, if you are talking about small percentages and small amounts of money, you’re not really making that much at all.

Therefore, with that in mind, it’s not an account that can do much for everybody. Like with anything, you have to approach an investment expert to see if it’s worthwhile for you. You have to make the decision for yourself because you are not always going to get a positive outcome.


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How to Adjust Tax Withholdings

August 27, 2015

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Automation Domination: Streamline Personal Finance

July 11, 2015

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Apps to Help Improve Credit Scores

March 20, 2015

Many believe that improving their credit score takes years of work and lots of money. But, the truth is, it is a balance of not overspending and managing your finances wisely. The following four apps can help you improve your credit score by monitoring it or monitoring your finances. Credit Karma Credit Karma is a […]

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