Financial Tips and Tricks for the Summer holidays

5 Steps to Increase Your Credit Score Within 30 Days

Increasing your credit score drastically won’t happen swiftly; however, there are things you can do to recover your credit rating by a few steps at a time. The credit-reporting agency Experian points out that it’s tricky to foresee how a single action will impact your credit rating. The good news is that several strategies pay off quicker than others.

Step 1:

Decrease the total of debt you owe. Paying down balances increases your available credit limits, which can add a few extra points to your credit score in a hurry.
The larger the balances, the more points you can score. Credit scores are updated about every 30 days; consequently, your score will take into account any payments you make that decrease your balances.

Step 2:

Pay your bills before they’re due every month. Building a record of continuous, on-time payments is one way to raise your credit score. Even if you can only make the minimum payment due, you don’t want late payments listed on your credit report. Just one late payment can drop your FICO score by 60 to110 points.
If you have difficulty staying current with your bills, contact your creditors and ask whether they can reduce your monthly payments or modify the due dates to one that suits you both. Automating payments is another way to make sure that your bills get paid on time.

Step 3:

Credit bureaus don’t take the time to authenticate the information they collect from creditors, so it’s up to you to stay on top of your credit history. Mistakes or inaccurate information on your credit report can negatively impact your credit score.

Step 4:

Argue any errors you discover on your credit report. Having negative items removed can quickly raise your score. Contact the credit bureau in writing, providing details and documents supporting why certain information is mistaken. The credit bureau will have 30 days to investigate and correct any mistakes. Correcting errors on your credit report is a speedy way to increase your credit score.

Step 5:

Wait a full billing cycle after paying off a credit-card bill before you charge any new purchases. That way you can time when the credit-card company reports your balance to the credit bureaus. By waiting, your account will show a low balance, which keeps your debt-to-income ratio lower.

You want your report to show that much of your available credit limit is unused as this will help raise your credit score.

Money Saving Ideas and Debt Reduction Tips

 Money is tight for many families at the moment. If you are in debt, Churchwood Finance could help to solve your problems and relieve your stress. 

 The kids are bored and the sun is shining, so it is time to get out and do something memorable with them. 

Not all summer entertainment needs to break the bank, so whether you are flush with cash or you are struggling with debt there is no reason not to enjoy some of these money saving ideas including music festivals, sports events and days out.

Remember if you are struggling with your debts then it is always a good idea to seek professional help or advice before its too late. 

There are many debt help and advice companies such as Churchwood Finance who can help you in times of financial difficulty.

 Free music festivals - Summer is festival season in the UK and there is no reason why your teenage kids should miss out. A ticket to Glastonbury may cost a fortune, but there are free alternatives all over the country from the legendary Notting Hill Carnival to Youth Beatz in Dumfries. 

The iTunes Festival in London is also free, although there are only a limited number of tickets to available to see the likes of Justin Timberlake, Jessie J and Primal Scream. Many of these festivals are designed to appeal to families, which means you can give the babysitter the night off if you fancy a dance. https://www.itunesfestival.com/

The National Trust - The National Trust run some of the finest attractions in Britain and many of them are free to enjoy. There is guaranteed to be one of their beautiful historic houses or majestic green spaces near you, no matter where you live. The places of historic interest preserved and maintained by The National Trust includes hundreds of houses, but they are not all stately homes; you can even walk around John Lennon's childhood home! There are offers for free entry for children during the holidays at various National Trust venues and many more are free to explore all year round. http://www.nationaltrust.org.uk/

Enjoy Britain's beaches - In the UK you are never more than 70 miles away from the sea, so there is always a beach within easy reach. From Brighton to Blackpool and on to Balnakeil, you can find seaside fun and beauty in all corners of the British Isles. Aside from the simple pleasures of a bucket and spade, there are often free events that are designed to get people down to the beach such as the Clacton on Sea Airshow or the Southport Fireworks World Championships. http://www.visitbritain.com/en/Top-10-British-beaches/

Play tennis for free - Tennis For Free is the non-profit organisation that allows you to follow in the footsteps of Andy Murray and play tennis without having to pay sports club fees. The website aims to bring this thrilling sport to the masses by helping you to find your nearest tennis facilities without you having to shell out your hard earned cash. These courts welcome any age and all abilities, so there is nothing stopping you giving tennis a try. http://www.tennisforfree.com/

Free entry for kids at motor races - That is right, children under 13 can watch national motorsport live for absolutely nothing. As long as they are accompanied by one adult, your kids and their friends can see Touring Cars, Superbikes, Formula 3 or other thrilling series for free. The action is usually on all day from early in the morning until the evening and if you bring your own picnic it can work out as a surprisingly cheap day out. http://www.gomotorsport.net/Go-Find/Events

Debt Help Solutions

Although our tips and advice are a great way of saving money for the whole family the most important rule for any family should be to not live beyond your means.  This can mean only taking holidays or buying new luxury items such as cars and Jewelry when you can really afford it.  Paying for such items using loans or credit cards is never a good idea.

 

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