Ashley Park Financial Solutions on new Paym Software

Ashley Park Financial Solutions were intrigued by a recent article describing new mobile software that will allow users to transfer money quickly and easily using nothing more than a telephone number. The service, known as Paym (pronounced “pay ‘em”) will be made available to 30 million people when it goes live on the 29^th of April.

People who bank with TSB, Bank of Scotland, Barclays and Halifax amongst others, will be able to register their mobile numbers from today in anticipation of the full service at the end of the month. They can then transfer cash payments to their contacts without needing to know their bank details.

Users wishing to receive payments must actively register their number alongside the current account that they wish to use. Users only wishing to send money do not have to register for Pym, but their bank must be taking part in the scheme. You will be asked to confirm the name of the recipient and the amount you want to transfer before going ahead.

The software has been developed following research carried out by the Payments Council, who found that on average, people rack up around £256 in informal loans and IOUs amongst their family, friends and acquaintances. Annually this adds up to a whopping £12.6 billion!

This research is based on the idea that adults in the UK are lending just under £5 every week to someone they know. This could be for a sandwich, bus fare or a can of pop. These amounts tend to add up over time and we never see the returns. With Paym, recipients will immediately be able to pay back their lenders.

While it is mostly intended to aid small payments, users will be able to transfer at least £250 a day if they want to. It is up to the banks themselves whether they want to place a higher cap on day to day payments.

People can find out more about registering for Paym by visiting paym.co.uk or ask their bank or building society. Here at Ashley Park Financial Solutions we think this is a great idea and the perfect means of getting your money back without nagging friends or feeling awkward.

If you’re worried about money, check out our website for our full range of services. You can also follow us on Twitter for regular updates. 

Ashley Park Financial Solutions on IVAs

IVA: Getting rid of interest, bank charges and annoying creditor phone calls.

At Ashley ParkFinancial Solutions, we know that debt is common-place in the modern world. From student loans, to bills, to payday loans, credit cards and mortgage payments, debt is something we might all face at some point. Knowing the extent and gravity of your debt situation and how to manage it is the first step towards clearing it.

With the growing number of student loan debts and the increase in short-term “pay day loans”, serious debt issues are rising quickly. Many people don’t know how to deal with the situation and simply ignore the consequences and the constant stream of creditor phone calls. But it’s important to be aware that there are a number of debt solutions and help available – the weight of mounting debt needn’t be a life-changing occurrence.

One of the many ways to manage debt – where repayments cannot be met -  is through an Individual Voluntary Arrangement (IVA), which, in essence, gives you some space and time to make reduced payments towards your debt without the added pressures of increasing interest, account charges and contact with pushy creditors.

More Information on IVAs

·         - Setting up an IVA is beneficial both to you and your creditors as it is relatively inexpensive compared to a bankruptcy petition. 

·         - They spread a reduced debt over a certain amount of time (normally 5 years).

·         - They cover unsecured debts from personal loans, credit cards, store cards, overdrafts, bank charges, medical bills, VAT and those from Inland Revenue.

·         - You only make a single payment each month including any fees payable.

·        - Your credit rating will be affected in the short term and may be affected in the medium and long term.

·         - Up to 70% of your debt can be written off and all interest and charges  frozen subject to your Creditors approval.

·         - Homeowners may be required to release equity in their property in the final year of the IVA.

 - Although an IVA offers a much needed respite and way out of debt, there are still certain criteria that users must meet, including debts over £7000 or more, proof of employment or regular income, and debts that are unsecured (listed above).

For more advice, information, and details about debt management, and in particular, about Individual Voluntary Arrangements (IVA) and other debt solutions, Ashley ParkFinancial Solutions are always happy to help.

Call 0800 043 3535 or visit www.ashleypark.co.uk now. 

Ashley Park Financial Solutions: Ways to Save on Travel

In the modern age of commuter travel and migration from home towns, transport is an important part of our lives. It can however be an extremely expensive commodity. Ashley Park Financial Solutions have compiled a few top tips to help you get a great deal on your chosen mode of transport.

Train travel

You can save literally hundreds of pounds on train travel by booking in advance. If you know you have a trip coming up, aim to book exactly 12 weeks in advance. This is when the tickets go on sale for your date of travel. You should also split your journey and pay the cost of 2 singles, rather than one full return.

There are tons of companies online offering cheap rail travel when you book in advance. In particular, thetrainline.com offers great online discounts. Be aware though that there are many other canny travellers who will be looking for these discounts, so speed and planning are key!

You may also want to try split-ticketing. If, for example, you’re travelling from London to Newcastle, you could break your journey at Grantham and Leeds and get separate tickets for each part of the journey. You can potentially save hundreds of pounds with this method and it’s perfectly legal – just make sure the train actually stops at the stations you’re breaking the ticket at!

Car Travel

If you’re in the market for a new motor, you should strongly consider purchasing a nearly-new car, rather than a brand new one. Look at car’s that are around a year old, then head to the showroom and tell them you’re looking for a nearly-new car with most of the original warranty still intact. Be prepared to haggle on the price they give you. You can save thousands of pounds buying this way.

You can also save money by reviewing your driving habits. A few easy changes can make your fuel consumption much more efficient. Driving smoothly and changing gear when you reach 2500 revs per minute in a petrol car and 2000 in diesel. If you cut your motorway speed from 85mph to 70mph you can save almost a litre of petrol every 20 miles. Add that up over a year and it’s a saving of almost £100!

Bike Travel

Thanks to the Government’s Cycle to Work Scheme, you can now purchase a bicycle sans tax. Speak to the HR department at work to find out if your company has opted in. You can easily save around £100 on the price of a £250 bike. A more expensive bike can offer considerable savings. You also need to make sure that you purchase your bike from a store that is participating in the scheme. Click here for more information on that.

Hopefully you’ve got some great ideas for ways to save now and can start cutting your bills right away! You can follow us on Twitter for regular tips and updates.

If you’re struggling to cope with money worries, visit the Ashley Park Financial Solutions website for the full range of our services. 

Ashley Park Financial Solutions on Swap Parties

In the current climate, keeping fashion fresh can be costly. But never fear! These days it’s perfectly acceptable to hold what’s known as a Swap Party. Swap Parties are a great way to mix and mingle with friends and loved ones, and acquire a few new numbers for your wardrobe. Ashley Park Financial Solutions are here with the lowdown on how to host your own!

Decide on a date

Make sure you start planning well in advance. If you don’t let people know in good time, you might end up on your lonesome, surrounded by bags of your own clothes! It’s a good idea to create a Facebook event, especially if you’re going to invite a lot of people. They will be automatically reminded of it as the time draws nearer, and you can keep all the details in one place. This is an especially good idea if you’re inviting lots of people from different friendship groups – they have the opportunity to converse with one another on the group page and maybe even swap fashion tips!

Who to Invite

Get a good mix of people with fairly similar fashion tastes so no one is going to go home empty handed. And bear in mind that people come in all different shapes and sizes! If you invite a shorter person to a party made up entirely of taller people, they probably won’t feel great and vice versa.

Make value tickets

While the main purpose of the event is to swap clothing, you may not want to part with something that was once very expensive, in exchange for a cheaper item. Make value stickers with rough estimates of how much the item is worth and suggest that your guests do the same thing.

Designate value spots

There should be three types: inexpensive; mid-price and expensive. You can sort your garments into these categories and ask your guests to do the same before they arrive.

Arrange the room

Obviously you don’t have to turn your living room into a stylish boutique, but it’s fun to create an atmosphere. If you can get your hands on some clothing racks that would really help to organise the clothes. You can also utilise coffee tables as folding spaces for trousers and bulky sweaters.

Bags

Remind your guests to bring along some carrier or tote bags for taking their items home – this will save you from having to rush around finding a bag for everyone at the end of the party!

Food

You might want to prepare for snacks for everyone to enjoy, but obviously the aim of the game is to save money, so don’t go too overboard. You can advise people to eat before they come. Snacks to start are a great way to mix and mingle though, so if you’re inviting lots of people who don’t know one another it’s usually a good plan to offer something.

Make Suggestions

As host, you can pick out items and suggest them to your guests. This will help to get things started if people are a little shy to get going!

At the end

When everyone is swapped out and has headed home, you’re left with your pick of the spoils. You may already have acquired a ton of great new clothes, but there’s nothing to stop you from picking out something else – this could be the perfect time to try a new style! After that you can head the leftover items to a local charity shop and be satisfied that you’ve done a good deed. 

So there you have it! Remember, if you throw a great swap party, you're bound to be invited to others - make it an annual event and you could make some huge yearly savings on your clothing budget! 

If you're struggling with money worries, visit the Ashley Park Financial Solutions website, where you'll find our full range of services. 

Money Saving Tips when Buying a Car

Here at Ashley Park Financial Solutions we know how difficult it can be to get around without your own car. But we also realise how expensive it can be to purchase and run a car, especially when money is tight. That’s why we’ve decided to bring you some money saving tips to help you save when you spend on a run-around.

Research

Before you head out to make a purchase, be sure to do a bit of digging so you know what you’re dealing with. Look for cars that hold their value. For example, the Fiat 500 is one of the best new petrol cars for retaining value. A 69bhp 1.2l model in Sport trim is worth £6,275 after 3 years, which is an incredible 66.7% of its original £9,410 price tag. Lasting value is important in case you ever need to sell the car on yourself.

Most for your Money

You should also be aware of cars with good safety records and mileage per gallon. There’s not a lot of point in buying a car that will fall to bits or cost you twice as much in petrol. It’s a good idea to shop with a model in mind and a price that you’re willing to pay.

Stand Your Ground

When you’re actually at the garage, don’t feel badgered by the salesperson. If you know what you want you can stick to your guns without being dissuaded. And don’t be made to feel like a cheapskate! Some dealers will try to intimidate you into spending more, but don’t fall for it.

Deals and Trade-ins

Try to time your purchase to coincide with a showroom deal. Dealers often offer discounts on a quarterly basis to meet their targets. Aim towards late March or late December and you might just bag a bargain! If you’re hoping to trade in your current car, talk to several dealers then compare their offers. The best thing to do is consider the amount of money you’ll pay after the trade. This is the true cost of the deal.

Internet Brokers

For those of you that are clear about the make and model you want, internet purchasing can be an option. Internet car brokers bulk-buy popular models then pass part of the savings on to their customers. There are a number of online brokers including Honest John and Drive the Deal.

The main thing to bear in mind is that this is a big purchase and you should take a lot of time about making the right decision. If you have any other tips or advice, we’d love to hear from you! Comment below, or follow Ashley Park Financial Solutions on Twitter.