Life insurance can be a daunting thing to organise.  Most people avoid it through their teens and twenties, but there comes a point when your priorities change and concerns as to what will happen to those that you care about after you’ve gone creep into mind.  By taking out a policy you are essentially paying for peace of mind that in the event of your death the people you care about will be financially looked after.  The amount paid out is dependent on the type of cover that you choose but, generally, the more you pay on a monthly basis directly corresponds to the eventual payout.

Factors that affect the price of a monthly premium include your age, state of health (if you have any pre-existing medical conditions), your occupation and whether you are a smoker.  The most common type of cover pays out a cash lump sum in the event of your death but there is also the option to have the benefit paid on a monthly basis, thus providing a stable income for the remaining family for years to come.  There are other options available including a mortgage option, where the insurer pays off all or part of your mortgage if you die or get a critical illness while you are covered.  There is also the option for joint cover with a partner, often at a reduced rate.

One of the most important decisions you’ll face is whether to go for term or investment life insurance.  The key difference between these options is that the first only pays out if you die within the time specified in the policy (for example thirty years cover) while an investment option, such as an endowment policy, will also pay out a sum if you survive to the end of an agreed policy.  The deciding factor of which to take is likely to be down to the price.  Policies that cover for the eventual death of the insured tend to be more expensive, but because they guarantee a payout you could think of it as more of a savings scheme than a gamble.  In a traditional policy if you survive to the end of a fixed term policy your monthly premium has brought you nothing but peace of mind, whereas an endowment policy guarantees you a cash sum when your policy expires.

In recent years companies have tried to entice people to take out cover by offering some rather appealing incentives.  To change its image as a rather morbid subject some providers have introduced offers such as discounts on gym membership to customers who take out a policy.  If you’re not taken in by these promotions and are just looking for good, cheap life insurance then there are plenty of providers offering just that on the web.   For example, cover from ASDA Finance’s life insurance starts from just £7.05 per month, and for the peace of mind that can bring it could be worth it.  

Have you ever wondered what it would be like to live in the Hollywood Hills? LA’s exclusive celebrity district is probably out of your budget, but the next best thing (sweating profusely on a bus next to thirty other star-hunters while you gawp at mansions whizzing by) is only £25!

That is, if you can get yourself to California in the first place. Cheap flights – from as little as £250 return from Cheap Flights.co.uk – to LA are available, and once there, you can embark on your stargazing tour. The Sightseeing World star homes tour is a three-hour, fully narrated trip around 40 magnificent homes. Moving through Bel-Air and Beverly Hills, you will see the fabulous residences of stars such as Madonna, Nicolas Cage, Ronald Reagan and Sean Connery. Vintage stars of yesteryear are also represented, with visits to the former mansions of Humphrey Bogart, Elvis Presley, Marilyn Monroe and Lucille Ball.

After ascending the heights of the Hollywood hills, to take in a sprawling vista of villas and huge swimming pools, you will take a trip down the legendary Sunset Strip, as well as visiting many famous locales such as the Beverly Hills Hotel, House of Blues, The Whiskey A Go-Go and The Chateau Marmont. The Strip’s Rainbow Bar & Grill is where Marilyn Monroe met Joe Dimaggio, and it’s a good place to hang-out and spot celebrities.

The last stop on the tour will be the upmarket Rodeo Drive, where you can shop where the stars shop, at famous stores such as Gucci and Bijan. Make sure you keep your camera ready at all times; you never know who you might see! The homes of the stars tour costs $43.

American holidays are also available from Travelzoo. If you are looking to buy a house and think Bel-Air is a little out of your budget, Fish4.co.uk have a range of more affordable UK property in their database.

You’ve seen it published on almost every financial website and advice guide going: drawing up a budget is a great way to manage your finances. But while it might seem like a brilliant plan to see your monthly outgoings and assess what you can actually afford, it’s common knowledge that a lot of budgets simply don’t work – why is this?

The problem for most people when drawing up a budget is that they only consider the very short term. Looking at the previous month’s finances and seeing it as a ‘typical month’ is many people’s most common way of working out their outgoings, but when do you have a typical month during the year? The answer is that there is seldom a time when more than two months during a year match each other in terms of outgoings. Have you considered your summer holiday, Christmas, children’s birthday? All of these things will probably hit your wallet in different months during the year.

A lot of people also get their budget wrong by not being specific enough in their outgoings and not doing their sums correctly. For instance, a lot of people consider their costs of the car in their budget. In some cases, some people just consider petrol, car insurance and annual servicing in a budget, but there’s far more to it than that. What about breakdown recovery, car tax, maintenance and parking? Furthermore, what about the times that you didn’t actually use your car to get somewhere, by using a taxi, train or bus – are these considered?

The key to any budget is to look through as many bank statements as possible to see where you have spent money. It might seem overly time consuming, but looking over six months of statements is probably the best way to do this.  There you can see how much you’ve spending on a particular area for six months, then break it down into singular months and even weeks as well. For an excellent spreadsheet to get everything you need into your budget, it’s well worth taking a look at Moneysavingexpert’s budget planner.

One of the key tips for you while thinking about your budget is to overestimate your outgoings, if you need to do any estimation at all. Fooling yourself by underestimation completely negates the whole exercise, and you’ll subsequently find that you’re short of cash.

If the outcome is worse than you thought, don’t panic. There are plenty of ways that you can adjust your spending habits rather than just cutting down on your leisure expenditure. How about consolidating your existing debts with a low cost loan? Some of the top rates for loans in the UK are from Alliance and Leicester, and these low rates can often be an effective way of getting out of credit card debt. Furthermore, switching providers on other aspects of your personal finances is also likely to help. How about reviewing your car insurance provider? ASDA Finance supply car insurance from a panel of insurers in a similar manner to a comparison website and independent research shows that more than half of their customers save.

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With the exception of a bank or savings accounts, car insurance is the financial product most commonly held by consumers in the UK.

This is hardly surprising really as motor insurance is compulsory if you drive a vehicle. The road traffic act requires all motorists to be insured against their liability for injury to others (including passengers) and for damage to other people’s property. It is an offence to drive your car or allow others to drive it without insurance.

What some might find as a surprise is that car insurance premiums, which rose steadily through the late nineties and early 2000’s are now generally levelling out and in some cases actually falling. This is partly to do with the proliferation of online insurance brokers coming into the market.

Compare Prices

The fact that there is now so much more choice, not just in for car insurance but in the whole auto industry with new and used cars now easier to buy everywhere from specialist online car finders such as Fish4 to Ebay, offers even greater incentives to shop around and find a bargain.

The best technique for getting cheaper car insurance is to compare car insurance quotes. It’s a lot easier than it used to be too with many car insurance companies/brokers/agents offering comparison tools which allow customers to search for and compare quotes from dozens of top insurers and brokers in the UK. Just simply type 'car insurance' into Google and see what comes up, you're sure to find an assortment of insurance comparison websites.

Renewals

Too many of us stay with the same insurer for too long and often end up paying hundreds of pounds a year more than we need to. We tend to only look into new policies when premiums become very noticeably too dear.

Think closely about accepting a car insurance renewal quote from your existing insurer without checking around. Have a good look at the market before every renewal, as your loyalty (or perhaps that should read ‘lethargy’) is unlikely to be rewarded by your existing insurer offering discounted rates.

Modifications

Statistically many insurers have found that a driver of a modified vehicle is more likely to be involved in an accident, or a more costly accident.

Unless you want to pay a fortune on your car insurance avoid modified cars. Modifications don’t just include fitting larger engines or other performance-enhancing changes; they can also be defined also including fitting noisy exhausts and even simply painting Go Faster Stripes.

Almost half of all insurers won't quote for a 'mod' and most of the rest will charge you extra as the reduced competition amongst insurers inflates prices.

Many insurers tend to be more willing and more flexible over the phone if your vehicle has a modification. People like dealing with people. It’s often worth getting a “non mods” quote online with a reputable car insurance UK provider such as Co-operative Insurance, for example, and then call the insurance companies to discuss your particular requirements in person. Do this with the best three or four online quotes you receive using the best price you get as a benchmark and see whether it’s possible to get the prices down.

Occupation

Insurance rates can be dramatically influenced depending upon your profession. If you’re a journalist, in the licensed trade, HM Forces, a professional entertainer, sportsmen journalist, musician, in the media or are in what is considered a high-risk occupation it’s likely that you’ll be regarded as a relatively poor risk and your insurance will work out more expensive than say a teacher or a nurse. Steady respectable jobs attract better premiums.

There are few things more exciting than being handed the keys to your new home. Buying a home and getting onto the property ladder can an important step toward eventually owning your own home and financial security. In fact, research for the BBC Two series, The Truth About Property, found 53% of respondents believed owning property is safer than cash as an investment.

It’s likely to have been quite a journey from spotting the perfect new house on a property website like Fish4 all the way to moving in. What were the most important steps along the way?

From house hunting, making offers, making home decisions, acquiring a quality contract, negotiations and home closings, it’s likely that the most critical consideration in making a success of buying a new home is the choice of mortgage.

With the right help, home buying is easier than you think.

There are numerous online resources with plenty of sage commentary for homebuyers such as the FSA website or BBC.co.uk business the world of mortgages is a veritable minefield. Perhaps the best advice though is to take the advice of an industry professional.

A visit to a professional broker or mortgages lender such as Natwest for example could save you paying thousand of extra pounds unnecessarily and avoid putting yourself at increased risk of falling behind with repayments, which could ultimately end in repossession and the loss of your home. A professional will also clearly explain financial industry terminology and references that so often confuses those not familiar with it.

Some of the most important considerations will address the differences between interest only and repayment mortgages. The most common type of mortgage is the repayment mortgage (capital and interest) whilst an interest only mortgage is a mortgage on which the monthly repayments go solely towards paying the interest on the loan. At the end of the mortgage term your full loan amount minus the interest is still outstanding so additional provision must be put in place to pay back the initial capital sum – a with-profits bond or other investment.

There are a variety of both fixed and variable rate products that you can choose from. Most options are variable rate such as standard variable rate mortgages (which is where interest rates can go up or down in line with the base rate set by the Bank of England), discounted variable rate mortgages, and base tracker mortgages. When interest rates fall your repayments will also fall. However, if interest rates rise, your repayments will also rise.

A fixed rate mortgage on the other hand is a mortgage on which the interest rate is fixed for a specified period depending on the lender and the particular product, normally for two, three, or five year fixed rate deals, after which the interest rate reverts to the lender’s standard variable. Longer deals are available though one should be cautious of becoming locked into an arrangement that stops being beneficial.

Clearly there are no concrete rules with regards to which mortgage to go for, as individual circumstances and needs vary. For example, interest only mortgages can be risky but for some might be the only realistically affordable option.

Fixed rate deals can offer increased financial stability, but will lock you in to rate for a certain period. If you wish to get out of the contract expect to pay financial penalties. Weigh up your options carefully and be sure to take the best and most experienced advice you can find.