Food Prices Expected to Rise

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Significant increases in food prices are expected to take place in the near future, particularly the price of produce grown in Britain. The cost of food is expected to increase as a result of unusual weather conditions, which have caused problems for UK farmers growing common crops such as carrots, potatoes and cauliflowers.

Unusual weather patterns have been particularly significant over the past couple of month, and there were two aspects of December’s weather, in particular, that have caused problems for farmers. The final month of 2015 saw temperatures that were unseasonably warm, causing other crops to mature much earlier than intended. This could leave these groups of crops in short supply later, as the planting of successive waves of crops are usually timed to ensure a consistent supply. When the crops affected by December’s warm temperatures should have been ready for harvesting and distribution, many will have instead already matured ahead of time and and proceeded to spoil.

At the same time, December was exceptionally wet, and this led to further problems as crops were damaged or destroyed by heavy rainfall. Particularly hard-hit were crops such as carrots and parsnips. These crops remain fresh while kept in the ground, so are often grown in large quantities and then harvested for distribution in stages over time. Fields containing crops that were waiting to be harvested in this way have been damaged across much of the UK as a result of high rainfall. Wet conditions also made it difficult for people, tractors, and equipment to traverse the worst-hit fields, severely hampering efforts to salvage crops from damaged land before they became unusable.

All of this points towards a shortage of key food items in coming months, and a resulting rise in prices. Many items of produce that have survived or been salvaged are of reduced quality, and some may be deemed unacceptable for sale by retailers, worsening both shortages and the increase that this leads to in the cost of food.

Similar problems have hit farms in many countries across Europe, and have also led in some cases to additional problems. For example, unusually warm winter temperatures in Spain have not just led to similar concerns about early ripening but also resulted in an outbreak of pests and fungi, affecting key crops such as tomatoes, peppers and cucumbers. This could lead to further price rises in the UK, as at this time of year such crops are often imported due to difficulty involved in producing them domestically during the UK’s cold winter months.

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Where to put Your Money Besides a Savings Account

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Savings accounts continue to offer low rates of interest, leaving many people wondering whether they are even worth bothering with. Ever since the current low-interest environment bit, savers have been looking at alternative ways to get more from their money. Things may be on the way up, but even headline-making best-buy accounts are only offering a couple of percent.

While savings accounts are pretty much unbeatable when it comes to keeping your money secure, there are some alternatives you might want to consider, whether you have a lot or a little to put aside.

Extra Mortgage or Loan Repayments

This might not seem like the most attractive choice at first, because it means giving up all access to the money you put aside. However, it will usually leave you better off overall than putting your money into savings. Think of your finances like a balance sheet. On one side you have money and assets in your possession, on the other side you have debts. Subtract debts from what you have to get your net worth. Both debts and savings grow over time due to interest rates, and your debts probably grow faster because interest rates are almost certainly higher. By removing a chunk of debt instead of adding a chunk of savings, you are having the same initial effect on your overall “worth,” and having a bigger impact over time because it will reduce the growth of those debts and lead them to be paid off sooner. Even paying a little extra can make a big difference if done regularly over time. Of course, you should still only consider this if you are sure you won’t need that money in the future.

Peer-to-Peer (P2P) Lending

Those with a lot of money are investing in properties to get more out of their money, and those who are clued up on the stock market or have access to professional advice (these also tend to be those with a lot to save) might turn to stocks. Peer-to-peer (P2P) lending, which sees you provide money for a person or business who wants to take out a loan, is another investment option, but this time it is equally open and equally useful for those with small savings and those with large amounts. While all investments carry risks and this is what rightly puts off those who could afford to invest but can’t afford to lose, P2P is very much one of the safer options. It has been rated as not much more risky than a bank, and many of the online platforms offering this service have been designed to make the experience as close as possible to managing a traditional savings account. Various fixed terms are available from a few months to a few years, and the interest rates far exceed anything the banks are offering.

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A Concise look at Unsecured Personal Loans

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Financial emergencies don’t come with prior warnings. Sometimes you may find yourself in a situation where you need a sizeable amount of cash and fast. It happens so, when people are caught off guard like this they often don’t have the means to meet the demand personally. At such a time it can be an idea to apply for a short term loan and it is common knowledge that most banks demand collateral against any kind of financing. But what if you do not have collateral to offer? In such times it is best to apply for an UNSECURED PERSONAL LOAN.

In this article you’ll find a brief look at the types, merits and demerits of this kind of financing.

What is an Unsecured Personal Loan?

This kind of credit puts the lender at risk rather than the borrower. Here credit is issued to you without the guarantee of collateral, so even if you miss the timely repayment of it you do not risk losing any material property. Also the application of this kind of credit is not restricted by any rule; the credit obtained here can be invested in a variety of purposes. Nonetheless the amount available under this kind of a scheme is limited and the interest a little steep, though not as high as in the case of credit cards. This happens due to the concern of the lending institutions about their own financial security, as they put themselves at risk by issuing credits without any collateral guaranteeing returns. Thus, the issuance of it depends upon the credit worthiness of the applier. Even though you might not be required to always present a complete and detailed credit history still it will be favorable for you if you have a fairly high credit score.

Kinds of Unsecured Personal Loan- Apart from those offered by credit unions and banks under this name another type of such financing is considered to be cash advance loans. Both serve the same purpose of providing cash on a short notice for your present financial problem. Nonetheless obtaining approval for the latter is easier than obtaining clearance for the former as this type of a plan does not require a detailed previous credit history and also allows the borrower to acquire the credit needed without a co-signer. Companies like UnitedFinances.com offer such loans.

Merits of the scheme

From the above mentioned points it becomes clear that such a type of a credit comes with certain important advantages. These are as follows:

  • The absence of the need to provide collateral brings out the chief advantage of this scheme. This clause ensures that even if you miss out on the repayment, you don’t risk a chance of getting your property confiscated.
  • The rate of interest charged here is considerably lower than that of credit cards. For this reason often individuals pick up unsecured personal financing to pay off other higher debts or credits.

Demerits of the scheme

Despite the benefits it offers there are also certain issues pertaining to the matter of applying for this kind of financing which needs to be deliberated beforehand. Following are some of the features of this kind of a plan which puts the borrower in a disadvantaged position:

  • As there is no collateral to guarantee financial recovery for the lenders in case you miss the repayment, they will definitely ask you to provide documents assuring them that you will be able to pay them back, thus your credit worthiness will be checked too. So if you are in between jobs and have no stable source of income you will not be granted such a credit facility.
  • Despite having lower interest rates than credit cards, this kind of a plan does charge a higher rate than other traditional forms of credit because it is a high risk plan and as mentioned above, there is no security or collateral.

Keeping all of these in mind you’ll have to decide whether this loan serves your interest best or not.

Author’s Bio – Sam Payn is a loan industry writer. He regularly writes for popular online loan communities like UnitedFinances.com and others.

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Talking to Your Lenders About “Goodwill” Adjustments

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You might have heard of “goodwill” adjustments from financing companies and borrowers of such companies. Goodwill adjustments are missed repayments in which the creditor will not list on the credit conduct of customers and instead “adjusts” the missed repayment amount to the following month. Goodwill adjustments are great ways to avoid problems with your credit conduct. However, gauging the right timing to talk about such to your lenders is important.

If you have missed one or two repayment terms, you’ll want to talk to your lenders about these adjustments. However, look into your finances carefully and see if you could perform well in the next six months to a year. As you look into these details, you can gauge if you could properly negotiate a goodwill adjustment with your lender.

Lenders usually allow customers with high credit values and those having highly-priced or rated financing to have goodwill adjustments as long as they do not or seldom commit the error again. However, if you have adequate to above-average credit scores, you’ll need a good repayment performance before you could ensure that the lender will give you a goodwill adjustment.

The best way to ensure you could get goodwill adjustments is to avoid missing repayments in the first few months. Building confidence with your lender or creditor is important. Once they have confidence in your repayment capabilities for at least a few months to a year, you can guarantee yourself a goodwill adjustment easily.

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Debt Relief: Declaring Personal Bankruptcy

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Personal bankruptcy is unavoidable especially if you have tried your best to manage your assets. While there’s no use to regret your financial decisions, declaring personal bankruptcy is the only way you can get out of your ordeal. Declaring your personal bankruptcy can save you through debt relief and consolidation as you work on a plan to finally repaying your debts in the future.

However, before you declare bankruptcy, you’ll need to know a few things. In declaring personal bankruptcy, you allow authorities to help you discharge some of your debts through financial aid. However, not all debts can be secured. Second, you’ll need to consider which debts you can handle as they are already “secured” or they have collateral that you could use to pay for the entire debt.

Third, consider the cost of the entire process. Declaring bankruptcy doesn’t often work as you expect it to be. It doesn’t clear all the financial aspects of your case that leaves you in a clean financial state afterward. Personal properties will be used to pay for your debts. You’ll also need to work with consolidation to address at least part of the debt as agreed.

The reason for filing bankruptcy is also a big importance to consider. If you suffered debt because of overspending using credit, don’t declare bankruptcy all at once. You can only file bankruptcy after six years from the last time you used authorized aid. If you find yourself in the same position having suffered business failure and job termination, you’ll find yourself having no relief at this point.

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Advice for Novices Investing in the Stock Market

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Many say that the business world is also where one could find financial stability aside from life and other types of insurance plans. Investing in a business is a crucial choice to consider especially if you have the capability to purchase stocks today. If you’re interested in investing in the stock market, take into consideration the following details.

1. How Much You’re Willing to Lose

Most stock brokers would ask you about “how much do you want to make?” than ask you about how much you make a month. This is actually a wrong question to ask yourself. To desire to make something without the acceptance of loss limits your learning experience in investing. Clearly, there is no limit to how much money you can make, however, there is a limit to how much money you’re willing to lose. Assess your finances carefully and see how much you’re willing to put on the table, win or lose.

2. Start With Small Risks

A key point in investing is to know the risk value of the stocks you are willing to purchase. Try to invest in mutual funds first. Investing in individual stocks may increase your reward value, but also doubles the risk involved in losing your money. Because you are only getting started, it is highly advised that you don’t go with stocks that involve high risks.

3. Patience

Investing is a waiting game, and an area that an impatient person will not fit. To invest in equities means to let your money grow and not to use it as a money-making vehicle that you pull out money ever so often. It is advised that you let your money in equities grow for more than five years, unless it is a financial emergency

4. Don’t Play With A Full Deck

If you find that you’re making so much money in investing, don’t invest all that you have into it. Remember, invest a little that you believe you can lose. Investing little while waiting for them to grow or falter is a learning experience. It allows you to study the trends of the market, familiarize yourself with certain situations that can happen in the future and increase your knowledge about risks, investment choices and other things you can learn through investing experience.

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PPI Claims Advice To Maximize Your Payout

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In the recent years, there are lots of complaints in the market regarding the mis selling of the insurance policies. But the PPI claim policy has been planned with the aim to help people at the time of financial crisis. The policy helps the people when they fall ill or meet with an accident.

The banks sometimes force the customers to buy the policies but you must know that making a policy is not a compulsory thing. You must use a PPI Claims Company if you were unclear on all the details when going for the policies. If the bank does not explain to you clearly about the details of the policy, that alone would be counted as a certain kind of mis selling of the policy. So be very careful about the different terms and the conditions of the policy.

You can also get hold of a financial advisor who will give the entire professional advice regarding your PPI claim, if you have been mis sold the policy. There are many things that you need to follow while claiming for the policy. You must have all the documents ready as that is one of the most necessary and urgent things while assigning for the policies.

You must also check out the authenticity of the company so that you are not affected later on by any misleading information in the future. Read all the terms and the conditions before signing any of the form regarding the policy. Clear all the doubts from your financial advisor about the claims.

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Why You Shouldn’t Rely on Credit

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Ever felt that whenever you use your credit cards you somehow end up feeling guilty? This is not common for most people, but if you do, your subconscious might be telling you that you’ve are spending money that is not yours. Although it is not bad to have credit transactions, if you cannot repay your monthly dues using the card, you might end up in a big mess of debts that can be quite difficult to escape.

Credit cards are usually granted to applicants who have the financial capability to ensure that they can handle the repayments of their cards. Obtaining and using a credit card benefits the credit rating of the card holder given that he or she performs well in using the card responsibly. However, if you cannot make use of your card wisely, you can end up in bad credit.

Relying on your credit also disables your ability to have patience to save money or invest. While credit does give advantages in saving time, the ability to have patience is also compromised. Everything is easily accessible through the use of a credit card. However, people also forget that the best way to purchase anything is to have the money for it. Managing your finances to ensure that you have some left in the end is very important.

Again, there is nothing wrong with relying on credit cards and credit. But it is important to emphasize that credit should only be used for things that you need. For example, appliances and other home improvement materials you need. Credit cards can also get the items you need for a lower price depending on the card’s partnership with the establishment.

A credit card is a great privilege. However, if not used carefully, it can be the downfall of an owner’s finances.

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Basic Troubles With Personal Finance

Filed in Personal Finance Leave a comment

There are many specific tips and topics about finance in this website. However, if you really want to know how to resolve a problem, you will need to know what the problem is first. Personal finance, while a simple phrase, is a very difficult task of ensuring that you have financial stability for yourself. Knowing the basic troubles of personal finance is the first step to making use of the solutions provided here, or formulating your own kind of solutions.

1. Family

Personal finance is often a sub-category of family financing. You have financing set for yourself, however, you also have financing set for your family. The basic problem why your personal finance plans do not work with that of the plans of the family is because of the costs involved in the family financing. Make sure that you work out the family financing scheme first. Based on the family plan, you can work on a suitable personal financial plan for yourself.

2. Responsibility

One calls it personal finance because one owns it. It is up to you to plan and execute your personal financial plan. However, why many financial plans fail is because people depend on financial advisers to work on their financial plan. Many people have fallen prey to abusive financial advisers, especially those who work on a commission basis. It is important that you have your own head in the water in dealing with finances. It is your responsibility to find out what’s going on with your money and how you can execute your financial plan accordingly.

3. Paperwork

Personal financing can be motivating, especially if you see the theoretical sum you can get once you have executed your plans very well. However, one demotivating aspect of personal finance is the required paperwork. You will need to line up for certain places, read detailed descriptions, and terms and conditions of certain insurance and financial products properly and see to it that all these products fall into place properly with your plan. The only way out of this is through. Making your financial plan successful can be achieved through patience and diligence.

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Investment Strategies: Knowing Your Game Plan

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The word ‘investment’ is a really gigantic word. When one tells you that you’re about to make an investment, it means that a significant part of your life can change because of the particular event. Investment is originally a financial term but the significance of its definition is also the same. Knowing how to make an important investment strategy is important to ensure that you are making the right decision in going for an investment.

1. Life Goals

Every action is driven by an earlier decision. Having a clear-cut life goal in your head can make all the difference in your decisions. If you wish to make your business grow, then that should be the driving factor of the decisions you are to make in terms of investments. Remember, you cannot make a good decision if you are not able to determine the life goal you have in mind.

2. Understanding Basic Economics

In making an economic decision, you don’t really have to know about the chances of success and the mathematics behind the probabilities. You only need to understand basic economics. When you place your money on the hand of the pitching company or individual, make sure to be updated to where the money goes. Understand basic economics; it can save you from making a bad decision. Most pitchers often discuss how the money flow goes in and out of the company or organization, which can help you gauge your decision.

3. Less Expenses Than Your Revenue

Investments and income are like products that you sell at a business. You sell them a few percentages higher per product based on the average expense it required to make the product. Spending less on your expenses and lesser than the amount of income or profit you get from your investment can help you gain more in the future, especially if the business you invested in thrives in the long run.

4. Emergency Funds

For every income or profit you get, make sure to make a savings account that will serve as your emergency funds. Sometimes, even if you know you’ve made a right decision about your investment and surely you did, yet something wrong happened in the long run, you need something that can help you get back up on your feet.

If your investment is in terms or financing a house or taking out a loan, you might like to read more about how to gauge your financial advisers. You might also like to know how to manage your bank accounts properly and how to invest in insurances properly.

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