7 Reasons

Tag: Baines & Ernst

  • Guest Post: 7 Reasons Why It’s Good To Celebrate

    Guest Post: 7 Reasons Why It’s Good To Celebrate

    We love a good old knees up in the UK – and we do it all year round. From Christmas parties and birthdays to special celebrations and family gatherings, having fun is something we’re good at.

    According to the recently published Infographic The Cost Of Celebrations, from Baines & Ernst, there are four special dates that stick out on the calendar as some of the most popular occasions we love to celebrate – Valentine’s Day, Mother’s Day, Easter and Father’s Day.

    Here are our 7 Reasons why it’s good to celebrate these special occasions…

    1.  Everyone loves getting a card. Whether you’re giving or receiving, cards are pretty great. With just a few words, you can deliver the sentiment with maximum effect. Make someone laugh or shed a happy tear, a card can help you say so much without making a hugely expensive gesture.

    In the UK we send 25 million Valentine’s cards, 30 million Mother’s Day cards and 7 million Father’s Day cards – which just goes to show how popular this tradition is.

    2.  Treats, treats and more treats… Apart from birthdays and Christmas, there are few occasions where you get spoilt rotten… unless you’re hopelessly in love or are a parent; then of course you get showered with gifts! And if you don’t have someone to treat you on Valentine’s or a child to give you a gift, at least you know you’ll be able to gorge on Chocolate at Easter.

    3.  Feel the love! Feeling amorous and totally loved up? Then Valentine’s Day offers the perfect opportunity to show the value of your love. On average, men in the UK spend £97.12 on their other halves, while women spend £91.89. And if you don’t have that ‘special someone’, then you could lavish your pet instead… you wouldn’t be alone, apparently 3% of pet owners give their pets a gift on February 14th.

    4.  Celebrate how fantastic your folks are. Parents are awesome, and what a great way to show how much you appreciate them, then on Mother’s and Father’s Day. Take them out, give them a gift or make them dinner – it’s a nice occasion that you can all share as a family.

    5.  Break the rules when it comes to gifts. Would it surprise you to hear that flowers and neck ties top the poles in the most popular gifts for mums and dads? Break the rules and get creative with your gifts to make them a memorable keepsake they’ll cherish forever.

    6.  Easter – one of the only times it’s acceptable to eat chocolate for breakfast. Over 90 million chocolate eggs are sold in the UK every year – with Easter accounting for 10% of chocolate spending for the whole year! Easter is your licence to eat as much chocolate as you like, but it’s not always a good idea, especially when you consider 1 in 5 kids have made themselves ill by stuffing their little faces… oooops!!

    7.  Celebrations keep our economy ticking. Just like Christmas, all of these occasions help keep our economy ticking over nicely. Valentine’s is worth the most, with £2.4 billion spent on gifts. Mother’s Day is worth £1.5 billion and while Father’s Day doesn’t quite generate as much spending, it’s still worth a cool £1 billion.

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  • Guest Post: 7 Reasons To Keep Track Of What You Owe

    Guest Post: 7 Reasons To Keep Track Of What You Owe

    Everyone knows that borrowing money is not a good idea but sometimes it is a necessary evil to get you through a major mishap, such as the boiler going bust or the car breaking down. However, a recent study revealed that many people have no idea how much they owe, preferring instead to bury their heads in the sand, proverbially, not literally. Although it might be more comfortable to kid yourself about how much debt you have, here are seven reasons why it isn’t a good idea….

    7 Reasons To Keep Track Of What You Owe

    1.  Not knowing how much you owe will stop you getting back on track. You can’t budget effectively. Even if you only opt to pay the minimum on your credit card each month (which is never a good idea unless you are absolutely skint) you still need to know how much will be debited from your account. Having no clue about the repayments mean you are not budgeting and are simply crossing your fingers and hoping you have enough cash.

    2.  You will damage your credit rating. You might not have sufficient funds in your account to cover the repayment. This means not only a black mark on your credit file for a late payment but if you are on a special deal, you may have to kiss it bye-bye. Failing to pay on time allows the credit card company to revoke the terms and apply not just charges, but a higher level of interest.

    3.  Being unprepared for an unexpected bill could mean you fall behind in other financial areas. Even if you do have the money in your account, it could have been earmarked for another expense, such as your mortgage or rent. Getting caught unawares of another bill could leave you with not enough money to pay for your essentials.

    4.  Misleading information could spell bad trouble. If you need to declare your financial circumstances, perhaps on a mortgage application or maybe you are opening a new current account; you could be accused of fraud if you provide misleading information about what you owe. Claiming ignorance is not considered an acceptance defence. You could find yourself not only rejected but blacklisted making it almost impossible to get accepted by any mainstream provider.

    5.  You could end up in a spiral of debt that you find hard to get out of. It could drive you into taking extreme measures such as relying on high-interest payday loans, or even worse, going to a loan shark, for money to get you through the month. For most, this is a downward spiral from which it is difficult to escape.

    6.  You could find it hard to get additional credit in the future. If you are relying on credit every month, you may well end up going over your limit. In many cases your lender may not reject the transaction but will slap you with charges and any future creditor will view you with extreme caution. You may also find your credit limit suddenly slashed; most lenders reserve the right to do this if they feel you are not managing your account properly.

    7.  Ignoring debts will only make your situation harder. You might not want to know how much you owe, but if you don’t take a deep breath and face the facts, how will you tell when your debts have become unmanageable? If your financial circumstances are less than comfortable, totting up how much you owe to all your creditors can make you feel anxious. However, there are a lot of ways to get help but unless you take the first step and acknowledge that you can no longer manage your debts, you will be forced to struggle on alone.

    Baines & Ernst specialising in helping people get out of debt with affordable debt solutions including Debt Management Plans and IVAs. All them for expert debt help and advice today.