Sunday 18th of April 2010
We all know that saving and budgeting is extremely important when it comes to our financial future, which is why individual voluntary arrangement (IVA) answers could be beneficial for many of us.
Growing numbers of UK adults are setting aside increasing amounts of cash nowadays, recent figures from Birmingham Midshires (BM) suggests.
And John Bianco, senior manager at BM Savings, says: "Good saving habits are important to ensure you can plan ahead financially."
But how are we supposed to boost our coffers for the future when we’re constantly having to pay off debts on credit cards and personal loans?
Well, IVAs could have you debt-free and in a good financial position in five years’ time if you have more than £15,000 worth of unsecured debts.
What’s more, IVAs can help you out if you have to pay back a variety of different creditors - by merging all your repayments into one manageable monthly outlay.
Because saving for the future is extremely important, be it to cover unexpected costs that crop up or to give yourself a much deserved treat.
- House price rise 'may not indicate recovery'
- Equity release 'needs to be increased'
- Need for IVA help could increase as expert predicts reduction in lending
- Government announces 'breathing space' for those needing IVA help
- Lack of subprime lending creating need for IVA help, expert suggests
- An IVA may correct your store card mistake
