Tag: Money

How Can I Pay for a New Bed?

If you decide that you need a new bed, perhaps because yours has broken or is getting uncomfortable, then you may wonder how you will be able to afford it. There are different ways that you can pay for it and there will be advantages and disadvantages to all of them, so it is good to have a careful think about them all so that you will be able to choose the option that will suit you the best.

Use Savings

If you have some money saved up then you could use this to pay for the bed. If the money is in an instant access savings account, you will be able to get hold of it right away. It might be that your money is tied up though and it might mean that you will need to wait a bit longer to get it. Some accounts will take a few days, but others the money could need a months notice or so or you may need to wait a while. If you have a bond you may have to wait until it matures before you can cash out. Therefore, you will have to find out how so you can get the money and whether you are willing to wait until you can get it.

Save Up

If you do not have the money in your savings account at the moment, you may find that you will be able to save up some money. This will mean that you will not have to borrow the money, but you will have to wait a while until you have accumulated what you need. This could be something that you are able to do, but it depends on how urgent your need is to buy the bed. If it has broken and cannot be repaired then you may have to get one. However, if it is uncomfortable, then you might be able to cope with it for a little while, so that you can save up.


You could try borrowing the money…

Borrow the Money

Borrowing the money if you desperately need money now will mean that you will be able to get the bed quickly. You will be able to normally arrange a loan pretty fast or if you use a credit card you will be able to buy it right away. It could take a little longer in some cases than using your savings though, depending on the type of loan that you use and where you get it from. Of course, if you have a poor credit record, then you may not easily be able to borrow money and so borrowing might not be an option for you. There will also be a cost associated with a loan. All lenders will charge you for borrowing money and you will need to think about whether you think that it is worth paying this money so that you can buy the bed more quickly. You are paying for the privilege and you need to decide whether you think that it is worth doing this or not.

So, there are three main options and you will need to consider which will be the best for you. It is good to think about how urgent your need is first as that will be a big factor. You also need to consider whether you have enough money saved and how easy it will be to get a loan. The cost of the loan is also a big thing to consider. Take some time to weigh it all up as the decision is important and will make a difference to how long it is until you get the bed and the total cost of it, so it is an important one to make.

Should I Play the Lottery?

There are many of us that play the lottery and it is considered to be quite a normal thing for people to do. Many would not even consider why they should not play it. However, there are things that we should think about with regards to the lottery to make sure that we are really benefitting from playing it.

Cost

It is good to start by considering how much you pay on the lottery. Some people will just buy the odd ticket every month or so and there are others that will pay out for tickets every day, including scratch cards. Think about how much you spend each day, week, month and year and then you will be able to start to decide whether you feel that you are getting good value for money. Consider what else you might be able to spend that money on and whether you think that you would rather spend the money on something else. Keep the amount in mind as you think about the other factors in this article.

Wins

It is worth considering how much you have won on the lottery. You may have had some small wins, but it is unlikely that you will have had a big win. Although there is always the hope of a big win, it is a good idea to look at the odds of winning. These should be published on the back of a scratch card or the website of the lottery organiser. It is so tempting to think that because someone has to win that one day it will be you. However, if you look and calculate how many tickets you would need to buy to ensure that you won, then you will begin to see why it might be a good idea to stop imagining that you might win, as it is so unlikely that you will. Of course, there will be a chance you will win a small prize, but if it is the jackpot that you are after then this will be very unlikely.

Pleasure

It is worth thinking about how much pleasure you get from the lottery. Consider whether you have fun when you do it and enjoy playing and finding out if you have won or whether you get frustrated with it when you do not win. Sometimes we play due to a habit or because we are desperate for money and see it as a solution. However, we have to think about whether this is a good reason for playing. If it is making us stressed and frustrated and we are spending money and not getting much back then we are not getting much from it then it might be wise to not do the lottery any more. However, if you find it lots of fun, it is a good idea to think about whether you feel that it is worth the money that you pay for it. Think about whether you feel that the fun you have is worth the money that you are paying.

Alternatives

It is a good idea to think about whether there are any alternative ways that you can still have a chance of winning money without paying out like this. You may think there are not, but there are a couple of possibilities. For example, you could buy some premium bonds, where you will be entered in a monthly draw, but you can get your money back whenever you need it. You can also do free lotteries online. These may sound like a con, but they are not as the websites earn money through advertising revenue which they then spend on the prizes that they give away.

What are the Advantages of Banking Online?

These days there are many people that bank online, but there are also people that feel that they do not want to. It is good to understand what the advantages are of banking online and then you will be able to decide whether it is something that will work for you.

Can Check Balance Instantly

It can be extremely useful being able to check your bank balance instantly. You will be able to take a look at what you have and then know what you can afford to buy. This is something which can be extremely useful when you are trying to stick to a budget. You will be able to work out whether you have enough money to afford what you want or whether you need to wait until you get paid next, before you can buy the things. It is really great to be able to have quick access like this, rather than having to wait until you go to a cash machine or a branch of your bank. It is particularly useful if you tend to buy items online when you are at home and therefore are not near these places to be able to check the balance o your account and can also be good when you are planning spending.

Easy to Transfer Money

If you want to transfer some money, perhaps to your savings account or from it or to someone else, then this can be really easy to do this online. You could use it to pay workmen etc as well by moving money into their bank account. It is quicker and easier than using a cheque and means that you can get money moved fast if you need to.

Easy to Pay Bills

If you want to pay a bill, then you can do it through your online banking. It is much easier to make a bill payment through their system than it is to pay the bill at the post office, send them a cheque or use another way to pay. It can mean that you can get it paid quickly and easily and you will also be able to check first that you have the money available to pay it and if not transfer some money into your current account first. It makes things very simple.

No Need to Queue

It can be much easier to bank online because you do not have to go to a branch and queue. With some things you can deal through the post office and others you will need a branch and it is very common to have to queue up in a branch and wait to see someone. You may even not have a branch that close to where you live and so have to travel some distance to get there. If this is the case, then banking online can be very much more convenient.

Some people do worry about the security of online banking. However, if you have good passwords and are very careful when entering your bank details, then you should be fine. If fraud does happen, then you bank should be able to deal with it and make sure that you get back any money that was taken from you. If you have a telephone banking account, then there is risk there as well, but if you feel comfortable with the security of that, you should feel the same with regards to online banking as well. Just make sure that you log in in a secure place where no one can see you entering your details and you should be fine.