Page 60 • The HERALD • 25th August 2022 v THE HERALD - SUPPORTING LOCAL BUSINESSES v Looking for a Bookkeeper? Sole Trader - Limited Company Self Assessment, Accounts, Payroll Please call Johanna on 023 8089 9365 ASK A PROFESSIONAL Finance Expert Reveals the Top Five Tips to Help with the Cost-of-living Crisis by Laura Howard, money expert at Forbes Advisor ese show up on your credit report, and can put o subsequent lenders compounding the problem. 3. Consider a smart meter ere’s no such thing as cheap energy at the moment. But a smart meter, which your energy supplier will install at no cost to you, at least makes it easier to monitor what energy you are using. It also sends data directly to the supplier so that you only pay for what you use. 4. Take advantage of rewards If you’re a frequent shopper at a particular store or supermarket, nd out what loyalty cards or apps, if any, it issues. It’s a hassle-free way to rack up rewards which you can then use for discounts on future spending – what’s to lose? 5. Download a budgeting app Budgeting apps, such as Snoop, allow you to keep closer tabs on your spending by grouping all of your nancial accounts together in one place. ey allow you to set budgets, break your spending down into categories to identify any potential waste, and ‘round up’ spending to the nearest pound, automatically saving the di erence. Many of the apps o er at least a basic version which is free to use. More information can be found at: www.forbes.com/ uk/advisor/credit-cards cards to meet the cost of everyday essentials which you are unable to clear every month, it’s de nitely time to reconsider your options. A er all, adding credit card interest payments into the mix will only make the situation worse. Contact an independent debt charity for advice. 2. Protect your credit score Your credit report is nothing less than gold when it comes to accessing credit agreements, ranging from a mobile phone contract to a mortgage. It even counts when it comes to being accepted as a tenant on a rental property or opting to pay for your car insurance in monthly instalments. Now more than ever then it will pay dividends to take good care of your credit report. If you haven’t checked your report in a while, you can sign up to a free trial with credit reference agencies such as Experian or Equifax. If you are applying for credit, ensure it’s through an eligibility checker, too. is runs an invisible ‘so search’ against your credit report which reveals the likelihood (expressed as a percentage) of being accepted for the loan or credit card, say, before you make a formal application. is avoids the prospect of having to make further credit applications if the rst one is turned down. WHY DO I NEED TO WRITE A WILL? by Heritage Will Writing Writing a Will is not compulsory. Neither is visiting the dentist or having your car serviced. But in the long run, it pays dividends. If you haven’t already written one, now is a good time to start considering your planning needs and requirements. A Will gives you control over what happens to your money and possessions a er you die. It certainly makes life easier for whomever sorts out your a airs. It’s a way of leaving instructions that must be carried out a er your death. Not writing a Will can create problems for your loved ones that are le behind. e rules of intestacy then apply. Only spouses, civil partners and blood relatives can inherit. If none of these exist, your estate goes to the Crown. at means a partner who was not married or in a civil partnership gets nothing, and that’s probably not what you intended. Contact Heritage Will Writing to take control and make life easier for you and your family a er your death. Call Heritage Will Writing on 023 8087 9243 or email: info@heritagewillwriting.co.uk. With the cost of living rising and debt being on the minds of many, working out what’s best for your nances can feel overwhelming. Forbes Advisor, o ers 5 tangible tips to help keep your head above water. 1. Ensure that a credit card is your servant, not your master Used to their best advantage, credit cards can be a useful support for your nances. Depending on the card you choose, it can help spread the cost of a oneo major purchase, or clear existing card debt – both interest-free. It can pay you back in rewards or cash, or present a cost-e ective way to spend overseas. If you start to pay interest on your credit card however, the cost will soon outweigh any of these bene ts. And if you nd you are leaning on credit
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