A recent FCA (Financial Conduct Authority) release warned consumers about the dangers of so-called ‘cloned companies’. Here is what this means and how to protect yourself against becoming a victim of such fraudsters. What are ‘Cloned Companies’? All companies selling, promoting or advising on share sales and other investments within the UK must be authorised by the FCA to do so.
According to Money Advice Service, borrowing money can be classified as either good or bad debt. The following examples should assist in determining the difference: Good Debt In essence, good debt is defined as any borrowing that enables the borrower to improve his or her prospects or increase their income in the long run. Here are a few examples of good debt.
As the state of the economy continues to take its toll on working families, more and more householders are finding it impossible to put any kind of money aside for ‘rainy days’. This, of course, leaves them unable to provide for unexpected expenses like a car or important household appliances breaking down or an unexpected need to travel, for example.
Continually rising bills and general economic uncertainty make it necessary to seriously consider whether you really should or need to take out a loan. The main questions to ask yourself are: Do I need to make the purchase I need these funds for? Can I finance the purchase some other way? If I do take out a loan, can I afford to repay it?
From the age of 18, anyone in the UK can apply for credit or take out a loan, and at some point or another, most people will do so. The reasons people borrow money vary. Some require student loans, others want to purchase a new home, car or household appliances. Others still borrow to help them out of a sticky financial situation or to take a dream holiday.