For those who are planning to sell their cars, know that there are several ways and places you can do so. However, you should also note that each place could have an effect on the price of your vehicle. That said, here’s a list of where you can sell your car for quick cash.

sell buy smallConsider Selling It Privately

Truth be told, if you want to get the most for your car, it’s ideal to sell it privately. However, you should also be aware that it’s going to be a time-consuming process.

Those who are considering this option, they have to advertise their cars to potential buyers, and this can be done by leaving a “For Sale” sign on the windows of the vehicle, classified ads, or even on ad sites that allow this. Aside from that, it’s also possible to be able to find a buyer through social media. Who knows, the friends of friends may be interested in getting your car.

However, if that seems impossible for you, the next best option would be to consider the help of a dealer, where you can easily and quickly get cash for cars in Sydney.

A car that’s being sold privately would give the owner the privilege of enjoying 10-15% more from his car that he would for a dealer. However, you also ought to note that selling privately is not the best option for those who need money fast, because it can take a while before you can even sell your vehicle. So, seeking the help of a dealer is the most convenient choice.

Online Car Buying Sites

There are plenty of online car buying sites that would take the work of selling a used vehicle. It’s important that you put in your car’s details and you’ll receive a quote that could either be a little lower or similar to the original value of the vehicle.

ImportantDealership

Another way is to consider trading it when you decide to purchase a new one or even a used one from your local dealer. Even though there’s always the disadvantage of getting less than what you can from a private sale, the benefit of this is that you’ll be freeing yourself from any hassle and expense involved in car selling. You don’t have to deal with test drives, viewings, and inquiries with this option.

Aside from that, you’ll also be getting a little more of your car’s part-exchange value that it’s trade price if you manage to sell it directly to your dealer. Though, there are still cases where the dealer won’t be interested in negotiating over the part-exchange price either.

Another option would be selling outright to a dealer that specializes in buying used vehicle. The process is usually quick and simple. As for the price, it’s often based on the car’s trade value and condition.

Auctions

Last, but definitely not least would be the auctions– this is a quick and hassle free way to sell your vehicle. However, there’s no guarantee that your car would be able to attain its reserve price. There’s also the possibility that you’d end up getting less for it.

Final Words

These are just some of the common places where you can sell your car for quick cash. Each has its own advantage and disadvantage that you should consider to determine which one fits well with your needs.

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How to Save for a Deposit for a Car

by Adam on September 23, 2016

Whether you’re saving for your very first car, or you’re looking to update your current one, saving up for a deposit can be difficult. Luckily, you’re reading this, which puts you one step ahead of everyone else. Take a look at our top tips for saving for your new motor.

CarThe Bigger the Deposit the Better

There are a number of ways that you can buy a car, but whichever you choose, having a deposit could mean that you save some money in the long term. Most people either arrange finance at the dealership when they buy the car or they arrange a loan elsewhere. Whichever method you choose, the advice remains the same: the bigger your deposit, the less you’ll have to pay back. You may be eligible for a better interest rate too.

Decide How Much You Need to Save

Having a goal to work towards helps you focus on saving. Of course, the actual number will depend on the car that you want to buy. Even a small increase in deposit size can make a difference to your repayments.

Don’t aim too high. This might result in you cutting out too much stuff that you like, not wanting to save and then ultimately failing to get the deposit that you want.

Be patient too. It’s unlikely that you’ll be able to meet your goal within a couple of weeks.

Making Your Money Work

Head to a couple of price comparison sites and search for the best savings account. Look for a good interest rate that’ll help accelerate your savings. You could sacrifice access to your money for a year or two in return for a really good interest rate – if you can wait that long for a new car.

Saving regularly can be something you don’t even have to think about. Set up a standing order to your new savings account and you’ll be saving automatically.

Spending and saving moneyWays to Save

There are lots and lots of ways that you can save money. Put simply, you can reduce your outgoings or increase your income.

To reduce your outgoings, simply have a look at what you’re spending your money on, and figure out a way to pay less. For instance, you could make morning coffees and lunches at home instead of buying it every day. You could buy own-brand food. You could shop around to see if you could get a better deal on your utility bills.

On the other side of the coin, increasing your income can be tricky. For instance, you could sell your embroidery designs or your handmade clothes. Put all the profit that you make from these endeavours into your savings account to boost your deposit.

 Once You’ve Got Your Deposit

Now you’ve reached your deposit goal, you can go out and spend it on a new car!

Written by Darcie at motor finance 4u, a car finance company that works with you to make sure that you get a car that you love.

 

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CarWe all know that having a car is expensive. But until you use one for a few years, you might not realise just how much it costs you. The cost of buying is only the beginning. There are also insurance costs, fuel prices, and maintenance work. And that’s not even all of the expenses.

As you can see, there’s a range of yearly expenses for running a car. A survey found that the average UK driver will pay £3,500 a year, the most out of anywhere in the world! But don’t worry, there are adjustments you can make to save money. Here’s a breakdown of how you can tackle each of the costs of running a car.

My first ever car

Me and my first ever car

Car Purchase

Before you even get to the running costs, you get the most expensive part of all- the purchase. While dealerships will always want to sell you the flashiest and most expensive, keep your finances in mind.

Many dealerships offer second-hand cars at surprisingly low prices. There are many precautions you need to take for buying a used car. But if you’re okay with not having a brand new vehicle, this will save you a lot of money.

Most dealerships also offer a range of financing options. In most cases, people making expensive car purchases will pay them off monthly. This allows them a bit of breathing room with their finances. You may also want to lease a car.

Insurance

The price of insurance depends on a lot of different factors. Young drivers might want to wait until they’re 25 to get their own car. Insurance costs are much more expensive before this, but you can cut costs by using a family member’s car. Things such as your mileage, your credit history, and your driving record can also have an effect.

Looking into the factors that affect the price of insurance can help you figure out how to make coverage cheaper. Before taking out any cover, you should also compare through various websites to make sure you’re getting the fairest deal.

Maintenance And Repairs

Various car componentYou need to make sure you've covered with breakdown coverages can malfunction. A full-scale breakdown in the middle of nowhere can be extra costly. It’s best to keep your car well-maintained to try and avoid any problems developing.

Many dealerships will service your vehicle before you drive away. You may also want to regularly visit a servicing centre to make sure everything’s kept in check. It’s also worth having breakdown cover so you can easily get help if your car malfunctions and you need a hand towing it.

It also helps to do some of the maintenance work yourself. Most drivers will experience a flat tyre at some point in their life. It’s worth buying spare car tyres and keeping one in your boot in case of a puncture. Look online for car maintenance tips, as learning how to handle some yourself can help cut costs.

There are cases you’ll need the help of a professional mechanic. Make sure you find a reliable and trustworthy one, so you don’t get ripped off.

rising costsFuel Prices

Fuel prices will depend on the kind of engine you have and how much you need. Getting a car with good fuel economy from the get-go can save you a lot in the long run.

Of course, the simplest way to save on fuel is to drive less. Walking or cycling more can cut back on fuel costs. You might even want to consider alternative commuting methods. You could also use PetrolPrices.com to find the cheapest petrol in your area.

Driving Fines

Unlucky drivers might sometimes get slapped with a fine. Make sure to avoid breaking any driving offences– serious ones can even land you in prison.

Even careful drivers might occasionally get a fine for going slightly over the limit. They might also accidentally park somewhere they weren’t meant to. You can usually fight these tickets in court. However, if you were at fault, it’s usually best to pay and be done with it instead of pressing the issue.

Other Costs

There are a few other costs associated with driving. Some of these you may not even have to deal with, or at least not for a long time.

Some people like to customise the inside and outside of their car. You should also regularly keep your vehicle clean. Look for tips to fix up your car interior on the cheap to save a few extra pennies.

Neglecting to keep your car clean and well-serviced can reduce its value come sale time. It’s best to take care of it, so you don’t lose out on any money.

Be safe and cautious on the road. Car crashes can be costly, especially if you experience an injury. Insurance covers many of these costs. If you have an injury that puts you out of work, you may want to seek legal advice for getting compensation.

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Is 60 the new 50?

by Adam on September 20, 2016

30 year old pound coinHow old do you feel?

I’ve been confronting that question recently as I celebrated hitting the big milestone of 30. I kept being asked if I felt ‘older’ now I’m beginning my 4th decade, and truthfully, I do. However, I don’t have the same milestones ticked off as previous generations might have done, when reaching 30 meant a decade or so of marriage under their belts, a mortgage, and an established career. I have none of those things in my life so far, but the ticking over of the calendar cannot help but evoke a sense of change, of old chapters closing and new ones beginning.

It’s not just my generation that have seen changes to what is expected of them given their age. Many over 50s feel much younger than their actual age according to a new survey from the British Seniors Insurance Agency. As many as 71% of over 50s surveyed feel younger than their actual age, and younger by a considerable margin – on average over 50s feel 10 years younger. (Source: British Seniors Insurance Agency 15th – 21st July 2016)

Society has changed considerably in recent years, with healthier lifestyles, fewer workers in manual jobs, and many other factors all contributing and influencing longevity and what age people feel.  This current generation of over 50s is more active than ever before  with nearly half (47%) taking up hiking, and almost a fifth (17%) of 56-60 year olds joining a gym since turning 50! Perhaps the development of hip and knee replacement technology is having a material impact on how active retirees can be in their golden years.

retirementDave Sutherland, Managing Director of British Seniors Insurance Agency commented: “As the population keeps growing, there are more older people in the UK and the average lifestyle of someone over 50 is very different to what it used to be. It’s clear that being over 50 no longer means being ‘over the hill’, and as our research reveals, the over 50s certainly do feel young at heart.

The research also highlighted the spending habits of the over 50s, who are not just spending money on themselves. Research findings show the pennies are flowing towards the respondent’s children and grandchildren – with an estimated £380 million spent a month on treating their children and £262 million treating their grandchildren.

On average the over 50s spend nearly £40 a month treating their children and almost £30 on grandchildren. When not spoiling the younger generations, over 50s also contribute an average of £104.90 a month helping family with their day-to- day finances, which totals an estimated £675 million for every month.

With older people seeing a need to support their families financially, many are taking out, or continuing to have some form of life insurance in place to provide peace of mind that when they pass on, they can continue to help their loved ones financially.

Cinvesting for the futureertainly life insurance isn’t essential if you have built up considerable assets, but for those without a large nest-egg, insurance can provide peace of mind cheaply and easily to leave a legacy and help with fund funeral arrangements.

 Time’s relentless march continues on, but with a bit of planning and consideration for the future, the next chapter will be brighter than the last.

For more information about British Seniors Insurance Agency’s flexible Over 50s life cover with a new Lifetime Payback Guarantee™ visit  https://www.britishseniors.co.uk/over-50-insurance/

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Unused Gift Cards

by Adam on September 19, 2016

shopping tips for supermarketsWhen it comes to gifting, few things beat the versatility and appeal of gift cards.  Gift cards can fill the awkward gifting gap that lies somewhere between impersonal but easily accessible cash and item specific presents that are difficult to return or replace if they end up not fitting the recipient’s needs.  A monetary paper note doesn’t exactly scream “I’m thinking of you” and those pink bunny slippers will most likely end up in the back of the cupboard until Aunt Agnes is over for the next holiday.

E-Gift Cards for Added Convenience

Enter the gift card.  For years, friends and family have been able to personalize their gifts through cards with value redeemable at the receiver’s favorite store, restaurant or service.  And with the advent of the digital age, physical cards are no longer a necessity, or even the preferable form of gift card giving.  E-gift cards have taken the flexibility of gift cards and added mobility by allowing the user to store the gift card number on their phone, in a retailer’s app, or even in the form of a QR code in an email.

E-gift cards also eliminate the need for the buyer to head into a physical store to make a gift card purchase.  With the click of a mouse, your e-gift card can be on its way.  Mobile phone and messaging apps are increasingly getting in on the e-gift market with sites like Facebook offering built in “send e-gift card now” type features.  In Apples newest release of its IOS 10 operating system last week, iPhone users can also send e-gifts through text messaging to other Apple product users.

Unused E-Gift Cards and You

While e-gift cards have been a boon in our increasingly on the go everyday lives, the lack of a physical item to remind you of a balance or even the existence of the card creates the potential for spoilage.  Spoilage, or unused gift card balances, count for 6-10% of the gift card market.  Here are a few other stats we’ve compiled on unused gift cards:

  • 40% of people do not use their entire gift card balance
  • 61% of gift card recipients spend more at the retailer than the balance of their gift card
  • Some estimates say there is as much of $44 billion in unredeemed gift cards since 2008
  • Per household, U.S. consumers have an average of $300 in unused gift card balances
  • E-gift cards tend to have 10-15% higher starting purchased balances than physical gift cards
  • The unused amount of a gift card is on average 6% of the original value

Cash-In, Trade, Buy or Sell Unused Gift Cards

An up and coming solution to the unused gift card dilemma, used gift card sites have proven to be convenient ways for consumers to buy, sell or swap out the unused portion of their gift cards.  These sites work by offering to buy unused or unwanted gift cards at a discount, then pooling the value or selling the cards outright to other people looking for a discount on merchandise from that particular retailer.  On average, users looking to sell or trade-in their unused gift cards can get up to 90% of their value and buyers can pick up gift cards at an up to 35% discount, depending on the popularity of the particular card.

Gift cards have continued to rise in popularity, and their use certainly shows no signs of slowing down.  While unused e-gift card balances can certainly put a damper in their spend-ability, gift card exchanges have stepped in to provide a modern solution.  As the autumn days count down towards the Christmas season, try out an e-gift card for your favorite someone spend less time shopping and more time relaxing and socialising with everyone on your gift list.

 

 

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9 Ways Cycling Can Save You Money

by Adam on September 8, 2016

Saving moneyGetting more exercise and leading a greener lifestyle are two of the most common reasons why people ditch the car and hop on a bike, but did you know that cycling can be a serious money-saver too?

I certainly attribute a lot of my early success at saving money in the early years of my career after university to not running a car, and instead, cycling a lot!

Here’s just nine ways that pedalling can put more cash in your pocket:

1.      Purchase Costs

The beauty of bikes is that there’s something to suit every kind of budget. Whether you fancy a cheap as chips pre-loved racer for scooting round town or a top-spec Cannondale road bike for the daily commute, you can always find something within your means.

2.      The Daily Commute

There’s something particularly galling about having to pay to get to work. On average, every person in the UK spends £146 per month commuting to work and over a working lifetime, that amounts to £135,871. If you live in London, those costs almost double – ouch!

3.      Cycle to Work

If you switch your regular car or bus commute for a cycling one, you could financially benefit from the national Cycle to Work Scheme which offsets your tax against the cost of a new bike and accessories to save you up to 42% on the purchase price!

4.      Fuel

The cost of fuel varies depending on what you drive, how you drive and what day of the week it is but according to the AA, the average fuel cost per mile is around 14p. A bike costs nothing.

5.      Parking and Fines

If you drive a car it’s inevitable that you’ll have to pay for parking and at some point, may overstay your welcome and incur a fine. According to the RAC, English councils raked in a whopping £700 million in 2014/15 and that’s not including speeding fines!

6.      Maintenance

Much like cars, bicycles need maintenance but the cost of any replacement parts for wear or tear are negligible in comparison.

There’s no annual servicing or roadworthiness tests required and if something does go wrong, you can learn how to repair or replace things yourself so there’s no expensive mechanic fees either.

7.      Insurance

One of the biggest costs of running a car or motorbike after the initial purchase is the compulsory insurance which, depending on your age, experience and postcode could cost more than the value of your vehicle every year.

Bicycle insurance is optional and varies but it’s a fraction of the amount you’d pay for any other type of road transport.

Whatever you ride, always, always invest in a quality lock and if you do have a desirable top-spec bicycle like the Lapierre road bike, get the insurance too. It’s much cheaper to protect your bike than it is to replace it.

8.      Gym Membership

Thousands of people across the UK make regular trips to the gym to use stationary bikes or take part in spinning classes but when you ride an actual bike, you don’t need the gym!

Cycling is a fantastic form of low-impact cardio exercise that’s ideal for people of any age so save your membership money and hit the road.

9.      You’ll Buy Less

Cars, buses and taxis all make it really easy to load up on shopping but when you’re on your bike, you have to think more carefully about what you can carry so you’re far more likely to buy just those items that you really need.

Altogether, these savings run into thousands of pounds. Thousands of your hard-earned pounds, every single year. What are you going to spend them on?! A family holiday? A deposit for a house? Monthly tickets to the theatre or that new Lapierre road bike you’ve had your eye on?

When you cycle, the savings are yours to spend as you like.

For advice on saving money while finding a bike that’s right for you, visit the friendly and knowledgeable team at Formby Cycles.

 

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number plateI remember watching the local TV news when I was very young.

The story was about excited people waiting around at a new car dealer in the middle of the night. They were there to purchase a brand new car. But why couldn’t they wait until the morning?

The cameramen were shining bright lights in their faces as the new car owners started the engines of their shiny new cars. The drivers then started honking the car horns before excitedly driving away, out into the night.

CarThe excitement and media attention around these new car purchases was because, at the stroke of midnight, new vehicle registration numbers were released, and for a few precious hours, days, and months, the drivers knew they were one of only a select few driving a new car, the proof of which was clearly shown by the number-plate letter that began with the letter M.

New Car Fever

Buying a car with the latest number-plate, the status symbol of choice for thousands of new car buyers often led to record sales figures for one month each year.

To even out the sales a bit, vehicle number plate changes were made bi-annual in 1999, but even to this day there’s a surge of buyers when the number plates change. Earlier this year, in March 2016, when the latest registration plates were released, sales of new cars spiked by 5.3%, the biggest increase since the bi-annual plate change began in 1999, according to the Society of Motor Manufacturers and Traders (SMMT).

A majority of new cars are purchased with a finance deal. This is an expensive way to buy a car, but new car buyers could be paying an additional £520 for their new car by not shopping around for finance according to new research.

rising costsThis added cost works out to be about 500 litres of petrol that would last about six months for most people.

Research from Swedish savings and loans provider Ikano Bank reveals that motorists are losing out by not shopping around for the best deal before choosing how to finance their new car:

  • Just over a fifth (22%) chose the cheapest finance option available
  • More than a quarter (27%) choose the easiest option instead
  • A third (32%) research how to pay for a new car in less than 15 minutes
  • This compares to a third (31%) who spent between a week and a month researching which car to buy and a fifth (19%) who spent between one and six months
  • Younger people are much more likely to spend more time researching how to finance their new car, with 83% of those aged 18-34 spending more than 15 minutes, compared to 52% of those aged over 65

This means motorists are adding on average £520 to the cost of their car, by not shopping around for the best finance deal.

People often opt to take finance directly from their car dealer and don’t realise that very often, this isn’t the best option available. Securing finance for a car can be completely separate from the purchase of the car itself.

Ikano Bank’s own internal data shows that customers take out a loan to buy a car more than any other purpose and the products offered by the bank provide a headline rate of 3.2% APR Representative (on loans from £7,500 – £15,000).

Research methodology
The results of the nationally representative survey were extrapolated relative to the UK population aged 18 or over. In March 2016 PCP research conducted an online survey among a nationally representative panel of 906 British adults who had bought a new or used car in the last three years. Fun Fact: I used to work for PCP Research a few years ago!

If you’re serious about growing your magical pennies you would NOT buy a new car, and especially not with a finance deal, but if you are determined to buy a new car on finance, do make sure you get the best deal by spending some time researching your options.

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Investing should normally be boring.

Boring is good, because often-times, the most important part of long-term investing is TIME in the market.

You have to ignore the every-day ups and downs and not allow yourself to be distracted. There’s a risk if you’re always watching the markets that you’ll want to tinker and change your investments all the time. And depending on the investment, each change can cost you money in trading costs as well as the risk of losing money or losing potential future growth.

So when I received an update from my The House Crowd investment it felt unusual because I had a big smile spread across my face. My investment in The House Crowd feels very different to my usual investment. Because it doesn’t feel as abstract as other investments.

It’s not an abstractly-named share of a company I’ve never heard of. Instead, this investment is in a property development happening only a few miles away. Currently the site is just a mound of dirt with some diggers but it’s fun and interesting to see it developing!

Where’s there’s muck there’s brass

progress

Eventually it will look like this:

alderley edge 2

The development is currently in the excavation stage with 1,500 Tons excavated out of approximately 6,500 Tons of Sandstone to come off the site!

Once that is done a specialised tanking system will be installed to form a damp roof barrier against the outer walls of the building, so there’s plenty going on. You can follow further developments here.

There is currently a second investment round in this project too:

housecrowd part 2

 

If you’re interested in getting involved in investing in something more tangible than stock market investments, then there’s plenty of opportunities to put your money to work in property with The House Crowd.

 

 

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Home Insurance is not a legal requirement, unlike car insurance but it’s an incredibly important piece of financial protection that provides cover for your Home’s valuable contents and structure.

home insurance in the UK

Why should you definitely take out a home insurance policy

It’s fairly unlikely that your home will be damaged, but no one is immune to bad luck and in the event of a home being seriously damaged most people couldn’t afford to replace valuable items and fully repair structural damage.

Getting home and contents insurance quotes for the coverage you need is important so you have insurance in the event of a disaster or a break-in and can potentially save you thousands.

It’s common for banks and mortgage companies to demand that you agree to take out a valid home insurance policy before they lend you money to buy a home.

 

What does home insurance cover you for?

Home Insurance is split into two types of cover; buildings insurance and contents insurance. Usually insurance providers will offer the option of taking each type individually as well as offering a deal which includes both.

If you are renting, it is likely you will only need to take out contents insurance as your landlord should have a buildings contents in place.

Most insurers will tell you in detail about what their policies cover you for on their websites. It’s always important to know you’re insurer and if you have any questions about items that you’re not sure will be covered, be sure to ask them before you take out the policy.

A new service from CompareTheMarket called Simples is also great for giving you a summary of what is and isn’t covered on your policy.

Here’s what you need to do:

Read my review of the service here.

In general both buildings and contents insurance will cover you for loss or damage caused by fire, lightning, explosions, earthquakes, smoke, riots, theft, subsidence, storms and floods.

 

Buildings insurance

Buildings insurance will generally cover structural areas like walls, ceilings, floors, roofs windows, doors, drainage, garages and any outbuildings, as well as permanent fixtures such as work-tops and bathroom suites.

Contents insurance will generally cover you for items categorised as ‘items you’d take with you if you were to move’ for example sofas, fridges, bikes, T.V’s, computers, beds, curtains. Depending on the provider some will also include or offer additional cover on items like: large amounts cash kept in the home, jewellery, external locks and freezer contents etc.

You can understand why most people opt for the package deals that cover both buildings and contents (if you’re a home-owner). Again it’s vital that you check with your provider what your policy covers you for, make a list of everything and go through over the phone if necessary before making any sort of payment.

So how you do you get a cheaper deal?

There are two main ways you can get a cheaper deal on your home-insurance. One way is to use the internet to simply shop around for a cheap policy. There are hundreds of providers out there and most choose to be featured on big comparison sites whereby you enter details into online forms to unveil various options and prices. This is a quick and easy way to go about it and could save you a lot more money that you initially thought.

Secondly, a great way to get a cheaper insurance policy is to reduce the risk of damage, whether it be from a fire, theft flooding etc. Below are some effective means of securing your home and details of how much they could decrease your home insurance premium.

  • Having an approved security alarm system or a CCTV system could see your premium decrease up to 7.5%. Alarm systems and cameras may be expensive, but they can deter burglars and save you money on your insurance.
  • Having locks on all external doors and windows that are effectively locked when out can potentially decrease your premium by around 5%.
  • Living in an area that has a neighbourhood watch scheme in place could decrease your premium by around 1%.
  • Like car insurance, building up no claims bonuses year on year can save you up to 20% on your premium, by far the most effective way to cut the cost over time.

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planeIt’s the summer time, and in the final few weeks, before we all get back to normal, we’ll be jetting off to various different countries. Of course, we’re all about saving money here, but holidays don’t follow the trend. It’s certain that we’ll be spending a lot of money on travel, accommodation and spending costs.

However, it’s that latter topic that I want to focus on today. When we get to our intended destinations, it’s far too easy to find ourselves in a position of vulnerability. We often simply agree to pay whatever we have to pay as we’re in a foreign location that we don’t understand. With the right amount of preparation, however, we can find ways to save those all-important finances with ease.

Let’s take a look at some financial tips to help you on your holidays this year.

Install GPS Maps Before You Go

We kick things off with a topic that centres entirely around the use of your phone. If you’ve ever been abroad and forgotten to turn your phone’s internet off, you’ll have felt the financial pain. It racks up a huge data bill that might take a very long time to pay off. Now, here’s the thing: we need mobile internet for lots of uses. One of those uses is GPS, where we can find destinations, or even play Pokemon Go in a new country! The best thing to do in this scenario is to download the maps ahead of time. Then, when you get to the new country, you don’t have to use up your internet connection downloading massive map files.

Saving moneyAlways Pay Local Currency Rates

You’ll find that most people will tell you to never use your credit card abroad. We’ll focus on a few additional methods of taking out money later on, but let’s say you have no choice. Now, you have to use your credit card, and you need a way of doing it without incurring too many additional costs. When you decide to take that money out, you’ll normally be given an option of your home currency, or the local one. Always go with the local one. By choosing your home currency, you’ll find that conversion rates also include extra costs for the privilege. It’s much, much easier to stick with the local currency.

Check Your European Health Card

You know that beautiful little health card that practically protects your wellbeing while you’re away? Did you know that it might well be invalid? In many cases, the reason for this is simply because it’s out of date. Unfortunately, we use them so rarely that we simply don’t take the time to check this detail. And, as it stands, it’s a totally free service for those who want to use it in the UK. You will probably come across people who choose to charge for them – don’t give in! You should never have to pay for a European Health Card under any circumstances.

Deal With Injuries Accordingly

Following on from that European Health Card advice, let’s talk about injuries. If you get ill or injured while you’re abroad, there are a few things you can do. Ultimately, the first port of call for something like an illness is to make use of that card. However, if you get injured in a personal injury scenario, you might actually be able to claim compensation back in your home country. Some companies will treat your injury as a normal personal injury claim under the right circumstances. And, if you’re wondering “how much injury compensation could I claim?”, the answer is – it depends. These things are worked out on a case-by-case basis.

Mobile Phone spendingBuy A Local Sim Card

We’re back to the topic of your phone again! Nowadays, we’re totally reliant on our phones to provide methods of communication. The idea of going for an entire week without as much as a text to concerned family members is unthinkable. However, using your phone abroad is very costly, as we mentioned earlier. Amazingly, we decide to pay the extortionate costs as a desperate measure in many cases. You know what’s easier? Buying a local sim card! Find a local phone shop, and buy a prepaid sim. As long as your phone is unlocked, that card should be able to fit your phone with no issues. The costs to both call and text will be significantly reduced from this moment on.

Uncover Vouchers & Deals For Local Attractions

Here’s a really easy tip that will come in handy whether you’re on holiday or not. The whole idea of a holiday is to explore what the destination has to offer, right?! Inevitably, this leads us to historic monuments and amazing entertainment attractions. And, because they’re the best of the best, we end up spending far too much money on them. In many cases, you’ll find that the internet is your portal to a vast array of discounts. By searching for the name of the attraction, followed by the term “voucher,” you might just come across what you’re looking for. 2-for-1 deals are very common, as are 10% and 20% vouchers. Even if you can’t find any offers, you normally get a discount for simply booking online ahead of time.

Pay Attention To Rental Car Policies

Renting a car is by far and wide the best way to explore a destination where you’re on holiday. After all, you’re only going to be there for a short amount of time. If you’re forced to comply with bus and train times, you’re going to be missing out on valuable exploration time. But, rental car companies know this. They know that you’re willing to pay over the odds, and they’ll be even happier if they can get a bit more out of you, too. While rental prices can be saved by shopping ahead of time, it’s the policies I want to focus on today. Whatever you do; read the policies carefully. There might be clauses stating that you can’t go past a certain location, or that mileage must be restricted to a certain amount. If you don’t follow those rules, you’ll be paying for it.

Using credit cardsInform Your Bank That You’re Going Abroad

So, when you’re doing all the final preparations before you head off on your travels, I want you to think of this. Make the call to your mobile phone company in the first instance, and tell them you’re going abroad. This should save additional costs. Then, I want you to do exactly the same thing with your bank. The reason for this is simple. When you go abroad and start spending money in a foreign location, your bank gets suspicious. After all, you spent £50 in Derby, UK last week, and now you’re spending $50 in Carolina, USA this week! How are they are supposed to know that your card’s details weren’t stolen or hacked? This can lead to your account becoming unexpectedly frozen. A quick call is all that’s necessary to prevent this.

Go Prepaid

We very briefly mentioned earlier how using your cards abroad can be an expensive thing. It often comes bundled with additional costs for the privilege of being able to do it, wasting money in the process. Why not go prepaid instead? By loading a prepaid card with funds, you can eliminate the possibility of going overboard with your spending, for one thing. Also, it means that there are no nasty charges that appear on your bank statement when you get back. When looking for prepaid cards, take your time. There are lots of deals out there, and some come with more downsides than others. Prepare this ahead of your trip.

moneyBring Lots Of Cash – But Not Too Much…

We haven’t even mentioned your all-important travel insurance policy today, but we’ll briefly touch upon it now. As is the case with a rental car policy, your travel policy has a lot of clauses in it. You need to make sure you’re studying these before you go abroad. One of the clauses that sometimes makes an appearance is that you’re only covered for certain amounts of cash. If you decide to carry more than that, and you get robbed, you won’t be able to recover those funds. So, in the first instance, exchange your money ahead of time. Find out how much you can afford to bring, and don’t go over the top. If you really need more money, think about the prepaid option we mentioned above.

Remaining in control of your personal finances is all about preparation. As long as you take the time to prepare for your holiday in the right way, you shouldn’t have to face any nasty consequences. Once you get abroad, things are going to be more difficult to manage if you haven’t organised yourself. So, use this guide as somewhat of a checklist. Go through our points once more and make sure you’ve ticked off what you need. Then, add your own flavour to the mix, and you’ll be all set for an amazing holiday.

 

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