Guest Contributor on Money Questions and Answers Blog

Why Are Younger Workers More Interested In Saving For Retirement?

pension The current financial climate has brought plenty of uncertainty with it for workers young and old.

As incomes are being squeezed by high inflation rates and reluctance on the part of some bosses to raise wages in line with inflation, saving for retirement and the future might not seem like an option for many workers; especially those who are still saddled with student debts.

However, as a survey conducted by the National Association for Pension Funds revealed, younger workers who might be a long way from paying off debts accumulated while at university are more willing than their older peers. Surprisingly, a healthy 53% of 25 to 34-year-old workers said they planned to put some money in their pension fund over the course of 2013.

Youth trumps experience saving for retirement

While more than half of young workers said they planned on saving for retirement and the future, the same can’t be said of older workers. A disappointing 26% of workers between the ages of 35 and 44 said that they were willing to save for their pension at some point this year. The average figure for all workers stood at 38%, which equates to a disappointing less than four out of 10 people in employment.

Need vs Want – How to Shop Sensibly and Stop Impulse Spending

by Guest Contributor

Are you an impulse shopper?Is it a need vs want? If you buy things you didn’t set out to buy, and do so on a fairly regular basis, it’s likely that you are.

Everyone has the odd impulse purchase every now and again, but if you’re doing it all the time and using your credit cards to make purchases, then you could have a bit of a problem. It’s time to cut down, and the way to do this is to distinguish between needing something and simply wanting it.

There’s no getting away from the fact that we live in a consumer culture. People like to buy things, and shopping can give many of us a bit of a high, which is why shopping is often called ‘retail therapy’.

However, most things that we buy aren’t things that we actually need, in the true sense of really needing something, because the things we crucially need to survive are things like food, medicine, a roof over our heads etc.

To cut down your spending, you don’t need to do away with everything but the basic things you need to survive. You just need to know the difference between purchases that are useful (i.e. a warm coat in winter if you don’t have one) and purchases that are simply frivolous (i.e. a new purse when you already have a closet full of perfectly serviceable purses).

Need vs Want – How to Shop Sensibly

Switching Business Gas Tariffs: It’s Easier than It Looks

by Guest Contributor

Whether you’re a domestic or commercial customer, keeping an eye on your energy gas tariffs is imperative if you want to pay the least you can for your energy use. Comparing suppliers is often much easier than you may expect, whether you’re comparing for home or business gas. In fact, while many people may think that switching business gas would be an arduous task that requires a lot of hoops to be jumped through, it’s actually much easier than that.

If you have been doing your research and you have found that the supplier you currently receive your energy from isn’t the best deal for you circumstances, taking the first step and purchasing a new deal online is all you need to do. You will have a 9-day cooling-off period anyway, should you change your mind, but if you decide to continue, the switching process couldn’t be simpler.

How To Use Prepaid Debit Cards To Budget For Big Purchases

by Guest Contributor

This is a guest post by David Silverstone who writes about personal finance, credit cards, and debit cards on the website, Credit Card Insider, which is a credit resource, providing plain-language guidance from industry leaders.

Credit card debt is huge in the U.S. Last year, the average American household’s credit card debt was equal to $15,799. American consumers know that they need to eliminate this debt, but they also know that they will have large purchases to make in the future.

These larger purchases may be necessities, such as refrigerators, new cars and houses, but it can also be a pleasurable expense, such as a fabulous dream vacation. The new trend is to save for these purchases so that consumers do not have to use their credit cards, and some people are choosing to embark on this adventure by engaging in reverse budgeting using prepaid debit cards.

What Is Reverse Budgeting?

Reverse budgeting is way in which people save for their purchases without having to resort to burdening themselves with more debt. First, consumers decide how they would like to use the money they are going to save. Then, they will calculate how much money they will need to pay for their dreams. The next step is to determine how much money they can set aside per month to save for their goals.

Reverse budgeting has been growing in popularity, and the reason may be because so many Americans already owe so much money to their creditors. One way that people have begun to save for future purchases is to obtain prepaid debit cards.

How Do Prepaid Debit Cards Work?

Prepaid debit cards are an extremely convenient way to make purchases, and they prevent people from spending more money than they have. Furthermore, it’s really easy for consumers to add funds to their prepaid debit cards and even adding money to the best prepaid credit cards and increase their prepaid spending limits every month.

After they have succeeded in saving the amount of money they needed for their goals, they can use their cards to pay for the item online or inside the store. They can also use them to pay several different bills online.

Advantages of Prepaid Debit Cards

Prepaid debit cards do have their advantages and disadvantages. Consumers like credit cards because they eliminate the need to carry a large sum of cash. Those who would like to keep from adding to their credit card debts cannot resort to using credit cards, but if they have a prepaid debit card, they can travel all over the country or even outside of U.S. borders and have a safe method of payment that is widely accepted.

The amount of money that is on the prepaid card is all that consumers can spend. If they were to try to purchase something outside of their budgets, the card would be denied.

5 Reasons Why Your Homeowner’s Insurance Claim Could Be Denied

by Guest Contributor

Understanding the full coverage and limitation of your homeowner’s insurance policy is key in avoiding the possible denial of a claim you might file later. If you’re getting ready to file a claim and don’t want it returned with a big red “DENIED” stamped on the front, then it’s important to go through your contract with a fine tooth comb and ensure that your claim isn’t going to fall into the following denial cases. 1. Your Claim Could Be Marked “Negligent” Let’s say that your home has had a bit of a termite problem that you’ve been meaning to take care of, but unfortunately, the latest monster hurricane decided to take out your roof before you got the chance. When … Read more

How To Get The Correct Insurance For Your Business

by Guest Contributor

Insurance is crucial for property, one’s life and business. It is prudent to ensure that your business is protected against any unprecedented loss of any degree. Getting your groove back after a loss is easier when you are insured by a reputable insurance company.

Businesses face various types of risks on a daily basis. The risk usually depends on the type of business involved. For example, a public service vehicle might be involved in an accident while a bank gets robbed. As much as these risks diverge in degree, they all have policies that can cover you in case of a loss.

Most business owners have their businesses insured. Unfortunately for some, this has been very expensive causing a lot of consumer discontentment. It is surprising the number of people who pay for wrong insurance policies.

It is common to find people saying that they are not enjoying the full benefits of their insurance policy and the premiums are not worth the financial strain at all. Poor research is the root cause of all these complaints, though coupled with other issues like mis-sold insurance. Being mis-sold insurance for your business is forgivable because some companies have specialized in conning people.

However, ignorance is absolutely unforgivable. You ought to do ample research before paying for an insurance policy. Most people are misguided by the fallacy that a cheap insurance policy is the best. You must ask yourself if what you are paying for is the correct insurance for your business.