Tuesday, 23 October 2007

Savings And Loan Sorted, Now To Find A Car

Thought I’d best post an update as I’ve finally found a suitable new savings accounts and also been accepted for a personal loan to buy that much needed new car.

I’ll start with the savings accounts. I found there was lots of choice. With interests rates going up a lot in the last year it seems savings rates are starting to catch up. I’ve opted for the Birmingham Midshires Online Saver at 6.41%. There were a few accounts offering similar rates but after reader the finer details that one suited me best, I’d certainly recommend it to anyone looking for a new savings account

On to my quest for a personal loan then and I have to say this was a lot more difficult. I checked my credit rating with experian last year so was pretty confident of being accepted. The tricky part was choosing the right loan, there’s so many out there.

Firstly I had to do some research as I’d never taken out a loan before and to be honest felt quite out of my depth. Guides on sites such as loan-guides and webcomparison helped me feel more confident and after using a couple of price comparison sites I applied for a £3,000 loan with Abbey at 7.9%.

The application went through really quickly and I should get the money in the next week or so. The next step then is to find a decent car, think I’ll hit Auto Trader first.

I’ll let you know how I get on…

Wednesday, 19 September 2007

Why I'm Not Panicking About Northern Rock

Like many people I have a savings account with Northern Rock. And like many people I am worried about the recent troubles they have been having.

What I wanted to know is was my money safe with Northern Rock. With lots of people lining up to withdraw their cash and the papers talking about the company going bust their was plenty to be worried about.

When I looked into this in more depth I found out that my money was in fact guaranteed and I was in no danger of losing everying. So unlike a lot of people I won't be rushing round to my nearest branch to withdraw every last penny.

One thing it did show me though is I need to find a better savings account for my savings. Not because of Northern Rock's difficulties but because I think I can find a better interest rate.

I've also got to look into finding a decent personal loan also as I desperately need a more reliable car.

So it's off to investigate and I'll report back what I find.

Welcome To My Personal Finance Blog


Welcome to my blog where I will be talking about my experiences with my personal finances including all the great deals I find along the way and all the problems I encouter along the way.

The aim of the blog to help me keep track of my finances better to help me save as cash as possible with my finances.