Cash Genie: letting you save money and get back on your feet

David Loans

Inflation has been running at high levels recently, with numerous things pushing up the cost of living disproportionately. These ‘one off factors’, as they have been called by politicians and economists, don’t seem to be going anywhere fast. The rate of inflation – currently around 5 percent, depending on how you calculate it – has been predicted to fall for months now, but unexpected factors have kept it high. Cash Genie offers some ideas for how to bring down your own personal inflation level.

Inflation is really a measure of how much your money is worth. If £100 buys you 100 loaves of bread in January 2010 but you need £105 to buy the same number in January 2011, then inflation is 5 percent. Five percent doesn’t look like much, but if you multiply that total across all your spending for the year, it could end up equalling £1,000 or more for the average taxpayer. But it’s worth noticing that the inflation figures are one-size-fits-all numbers that don’t look at much of what goes on under the surface. There’s some difference between RPI and CPI indexes – one takes into account mortgage payments, the other doesn’t – but besides that they are pretty blunt instruments. Cash Genie argues that inflation is more complex and personal than this. After all, no two shopping lists for the month are the same, which means that a month-to-month comparison of how much more you are spending than the same time last year will be different for everyone.

So, think about your personal inflation figure and how you can bring that down. What are the areas of spending for you that have added disproportionate expense? Fuel is one clear one for many people, since oil prices have been driven up by problems in the Middle East. However, other categories like household equipment, cleaning products and furniture reduced the average. In other words, Cash Genie argues that to make the best impact on your spending, find the categories that have pushed it up the most. You will be able to save far more by economising on fuel/travel, alcohol and tobacco than on other areas. If you want to get the largest bang for your buck without cutting back on every single area (which isn’t much fun) then it’s worth being a little more smart about which things you try to economise on.

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How to handle your money with or without cash genie

David Advice, Loans

As the news each week seems to bring more details of spending cuts and forthcoming job cuts, it makes sense for people around the country to think of ways to save money.  Not everyone has a Cash Genie on hand at all times, and making individual spending cutbacks is surely a good way to start.

If one thinks carefully, it is possible to find free or cheap ways of doing things.  For example by signing up to watch preview showings of films, or rehearsals of plays, one can often pay little or nothing for an evening’s entertainment.  Going out to eat need not be very pricey, when most major chain restaurants offer vouchers for two meals for the price of one; a bit of searching on the internet can usually provide you will great deals on eating out wherever you are.  Children, too, need not cost the earth.  Although advertising seems to put a constant pressure on parents to shell out to entertain their children, the creativity of the young means that if you spend time with them at home they will probably think of all sorts of ways of entertaining themselves.

Times of frugality serve as oportunities to make the most of the rewarding opportunities that are offered by establishments around the nation.  Despite widespread government cuts to arts and cultural activities, almost all museums offer free admission, meaning that the nation’s, and even the world’s, finest art and cultural artefacts can be seen for free.  Universities in most cities will tend to offer free public lectures, and checking out one of these can make for a stimulating and educational outing.

With Christmas coming up, buying gifts for friends and family can be a painful strain on one’s budget.  Being imaginative with your presents can save hundreds of pounds, and provide your loved ones with more meaningful presents than they would otherwise have been given.  Food items, candles and soaps, for example, can all be fashioned at home. Photograph albums and collages also show the effort that was put into them, while not costing a great deal to create.  The festive season also for many people means party season, but if you can move your social life closer to home, you can make major savings.  Meeting friends at the pub or a restaurant almost certainly means you will spend twice as much as you would have done at home – if you invite them over, you may provide all the food, but if they reciprocate in the future you will drastically reduce your expenses.  That way, you can make your friends your own Cash Genie!

Please visit http://www.cashgenie.co.uk/ for further information about this topic.

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A cash advance might help tide you over

Paul Loans, Personal Finance

We’ve all been there: it’s the end of the month and you haven’t got the wherewithal to pay the final bills. You’ll have enough cash next week, but that isn’t good enough. A cash advance would be nice, even if you have to pay for it, but without it you risk problems from your creditors. Instant loan approval from Cash Genie might be the solution; a short term loan is available almost instantly and easily.

This is only ever meant to be a short-term solution to your problem. The point of services like this is only to help you through a few cash-strapped days – not to do something entirely different like consolidate big debts or find money for a major project. If you’re looking for something on a longer basis, you should go elsewhere. If you want a loan for up to four weeks, this could be an option.

This purpose is reflected in the rates. A short-term loan will cost 30 percent in interest over one month. So apply for £100, and you’ll repay £130 in total. The APR – the annualised rate – totals 2,339 percent. But you’re not borrowing for twelve months, you’re borrowing for a maximum of one month. Essentially – if you’re using the service correctly – the 30 percent is a one-off fee for borrowing the money. In the same way, renting a car for a day might be economical; renting at the same rates for a year would be terribly expensive. It’s all about the time scale and tailoring the cost to your requirements.

You’ll need to meet a few basic questions to make sure you can pay back your loan, since responsible lending is beneficial for both the lender and the borrower. (Even if you have bad credit, this is not necessarily a bar.) Assuming you pass them, you will be able to receive anything from £75 to £750 – relatively small amounts of credit, but then, that’s all the service is intended to provide: a solution to cash flow problems, not a long-term loan.

Instant loan approval is just that: a decision for your cash advance will take around 30 seconds once you send the online form and maybe two minutes in total. The short term loan is paid straight into your bank account, subject to the necessary credit checks. And that’s it. No paperwork, no documents. It’s all about getting the money when you need it.

Please click http://www.cashgenieloans.co.uk/ for further information about this topic.

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