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February 12, 2018

3 common questions about credit history

(by JJ McLeod) Credit history tracks the reliability and the ability of you as the borrower to keep it up with the financial obligations, your payment patterns and how many other financial commitments you currently have. This has proven invaluable for financial institutions like banks and credit unions to assess the loan applications of the borrower’s ability to repay the loan. Two credit agencies you may have heard of are Experian and Equifax. They have similar systems in place to
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December 28, 2017

Three simple steps for a financially healthier 2018

(By JJ McLeod) With Christmas in the rear view mirror, our attention turns to the end of 2017 and beginning of a New Year with new possibilities. With the bank holidays coming up, it would be beneficial to take time out to organise your finances for the coming year. Making up a budget is vital, as more and more of our transactions are conducted through cyberspace, and more monthly bills are automated. It is now more difficult to keep track
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December 5, 2017

Practical ways to lessen impulse spending!

(by JJ McLeod) Impulse buying describes the phenomenon that causes you to make that extra purchase because the need for it becomes suddenly very necessary. It can be as small as buying a packet of chewing gum while you are waiting at the checkout, or as big as an expensive car during a sale. You may be well aware of the marketing methods that influence your shopping habits, but these time-tested techniques are still used to great effect, and we
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November 20, 2017

Top 3 differences between Credit Unions and banks

(By JJ McLeod) The financial services industry dominates advertising and news coverage, which is to be expected as finances are an everyday concern for people. There are thousands of different companies competing to help manage people’s finances, and it is not always easy to make comparisons in order to see what best suits their needs at any time. The BBC has spotlighted Credit Unions in their recent comprehensive,  documentary ‘A matter of Life, and Debt’. The key differences between local Credit Unions
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October 9, 2017

Don’t get caught out by £1 Deadline!

(By JJ McLeod) In the UK, we love to keep things interesting. By the end of 2020 we will see the biggest period of currency transition in decades – from paper to plastic notes and from round to twelve sided £1 coins. New Money The new pound coin was deemed legal tender on the 28th March 2017. Now that the circulation of the new coins is greater than the old coins, the Royal Mint (the manufacturer of cash in the
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