cleaning away soap suds

Spring clean your finances

From your home to your wallet, it's time to get organised.

Spring is a great time to clean up your house after a long wet and cold winter. It’s also the perfect time to tidy up and review exactly what’s going in and what’s going out of your bank account.

 

Here we’ve put together a guide to help you declutter and organise your finances.

the year 2023 ticking over to 2024

Review your financial goals
Start by revisiting your short-term and long-term financial goals. Are they still relevant? Adjust them as needed based on your current circumstances.

 

Budget
Review your current budget. Are you sticking to it? We know it’s tough out there at the moment with everyday items and services costing more. However, there may be areas where you can cut back and reallocate funds. Making small adjustments now could be a great help to you in the future.

 

Organise financial documents
A boring task but a necessary one! Sort through your paperwork and digital files. Shred or delete unnecessary documents, and organise important ones such as bank statements and insurance policies into appropriate folders.

 

Take a closer look at your debt
Start by listing all your debts, including credit cards,
car loans, mortgages and any buy now, pay later plans you may have. Prioritise paying off high-interest debts first or consider a debt consolidation loan to simplify repayments.

man stacking blocks with insurance images

Insurance policies

Review your insurance coverage, including health, life, car, and house/contents insurance. Contact your insurance provider and make adjustments if your needs have changed.

 

Savings and investments

Review your savings and investment accounts. How is your KiwiSaver performing? Most providers now give you the option to make adjustments. And, don’t forget, you’ll automatically receive an annual government contribution of $521.43 when you contribute at least $1,042.86 to your KiwiSaver account each year. Don’t have a KiwiSaver account? Find out more here.

man with remote selecting a movie

Subscriptions and memberships
These sort of things can add up really quickly. Cancel any you no longer use or need. Remember, you can always re-subscribe to your favourite streaming channel when a second season of that series you’re watching starts up again.

 

Automate your finances
It’s easy to set up automatic transfers to your savings and bill payments. The last thing you want is missed bill payment because you forgot to pay it.

blank paper for setting financial goals

Set new financial goals
Firstly, congratulations for any financial goals you have achieved this year so far. Now’s the time to think about new ones and create a plan to achieve them. It may seem daunting at first, so break a big goals down into a series of smaller ones. You’ll find it easier and will be more motivated to reach them.

 

Regular check-ins
Schedule calendar notes in your phone at regular intervals throughout the year to review your financial progress and make necessary adjustments.

Remember, financial spring cleaning is an ongoing process. However the good news is, that if you keep on top of things with regular reviews, you’ll be better prepared to achieve your goals.

 

If you have a loan with Oxford Finance, did you know you can access your account online? Check out our Existing Customers page on our website to find out more. Alternatively, if are experiencing an unforeseen change in your financial situation, don’t leave it too late to contact us or call us on 0800 88 44 66.


filling up car with fuel

10 ways to improve your car's fuel economy

10 ways to improve your car's fuel economy

Last month the cost of fuel went up by around 29 cents per litre, and you’ve probably begun to notice the sting in your pocket when you fill up at the pump. While you can’t change the price of fuel, you can make small changes to the way you drive and how you look after your car. Here’s a list of our top ten:

 

Regular car maintenance

Keep your car in good working condition. Book an annual service that includes oil changes, air filter replacements, and spark plug inspections. A well maintained car is more efficient and consumes less fuel.

 

Check your tyre pressure

Underinflated tyres create more rolling resistance, which reduces fuel efficiency.

 

Clear out the extra clutter

Remove unnecessary items from your boot or in the back seat. The extra weight places a greater burden on your engine and increases fuel consumption.

 

Avoid excessive idling

Easier said than done in Auckland traffic, we know! However, if you think you’ll be stationary for more than a minute, it’s better to turn off the engine rather than letting it idle.

 

Use cruise control

If your car has this functionality, use cruise control on the open roads or motorways so it maintains a consistent speed. This helps to avoid unnecessary speed fluctuations, which can result in increased fuel consumption.

car on open road

Drive smoothly and avoid aggressive acceleration and braking

Rapid acceleration and hard braking consume more fuel. Instead, accelerate gradually and maintain a steady speed whenever you can. Look ahead so that you can anticipate traffic conditions to avoid sudden stops and starts.

 

Reduce drag

Keeping your windows closed at high speeds will minimise drag. And, take down that roof box. It was perfect for your last road trip but driving it empty around town will increase wind resistance and reduce your cars fuel efficiency.

 

Plan your trips efficiently

Where possible, combine multiple errands into one trip to minimise the distance you travel and reduce fuel consumption. Check Google Maps to help you plan the fastest routes with the least traffic congestion. It will help you avoid excessive idling and stop-go driving.

traffic on motorway

Driving an SUV?

Think about switching from aggressive off-road tyres to on-road highway tyres to improve fuel efficiency on city roads.

 

Consider carpooling

Sharing rides with others, and even using public transport whenever possible can help reduce your car’s fuel consumption.

man driving car with friends

By implementing these fuel-saving practices, you can improve your car’s fuel economy, and at the same time save some money on fuel costs along the way. Every little thing helps!

 

If you have a loan with Oxford Finance and are experiencing an unforeseen change in your financial situation, don’t leave it too late to contact us or call 0800 88 44 66.


taking a closer look at a car with a magnifying glass

Buying a car privately?

Buying a car privately? Do your due diligence first!

So, you’ve found the perfect car, it looks great in the photos and price is right – what’s next? When buying a second-hand car privately it’s important to conduct thorough due diligence checks to ensure you’re making an informed purchase. You may not realise that the automatic rights you have under the Consumer Guarantees Act when buying through a car dealer do not apply to private transactions. We’ve outlined some key steps and checks you should consider:

Vehicle history report

Obtain a comprehensive vehicle history report, such as a CarJam report, which provides important details about the car’s ownership, previous accidents, outstanding finance, stolen status, and other relevant information. This report can help you identify any potential issues with the vehicle.

VIN check

Conduct a VIN check to ensure the car hasn’t been reported stolen or written off. You can use the Waka Kotahi (NZTA) website or the CarJam report to verify the vehicle’s status.

car history report illustration

Ownership and finance check

Verify that the seller legally owns the vehicle and has the right to sell it. You can do this by comparing the seller’s identification with the registration papers. Additionally, confirm that the car is not subject to any outstanding finance or security interests. The Personal Property Securities Register (PPSR) can help you check if there are any security interests registered against the vehicle. If there is finance owing, don’t buy it until you have confirmation the seller has paid the finance company and the outstanding balance has been settled in full.

model car made of NZ 100 dollar bills

Personal inspection

Physically inspect the car or have a trusted mechanic do it for you. Look for signs of damage, rust, or poor repairs. Check the mileage, overall condition, and functionality of key components like the engine, brakes, suspension, and tyres.

Mechanical inspection

Consider getting an independent, professional mechanical inspection such as the AA’s Pre-Purchase Inspection service. A qualified mechanic can thoroughly assess the vehicle’s mechanical condition and identify any hidden issues.

Service history

Ask for the car’s service records to assess its maintenance history. Regular servicing indicates proper care and can give you an idea of potential future maintenance requirements.

Test drive

Take the car for a test drive to assess its performance, handling, and overall driving experience. Pay attention to any unusual noises, vibrations, or warning lights.

handing over car keys

Warrant of Fitness (WoF) and Registration

Ensure the car has a current WoF, which confirms it meets the required safety standards. Check the registration details, including expiry dates, to ensure they align with what the seller is telling you.

 

Purchase agreement and documentation

If you decide to proceed with the purchase, make sure to draft a written purchase agreement that outlines the terms and conditions of the sale. Collect all necessary documentation, such as the vehicle’s registration papers, service records, and any warranties provided by the seller. You’ll need to let NZTA know and transfer the car registration into your name.

happy lady driving car

Remember, it’s essential to exercise due diligence and conduct these checks to minimise the risk of buying a faulty or stolen vehicle when you buy privately. If you’re unsure about any aspect of the purchase, it’s advisable to seek legal advice. Alternatively, head into your local car dealership and if something catches your eye, you’ll know they’ve already done all the hard work and checks for you. It’s less risky and may ultimately save you money and unwanted stress.

If you’re thinking about financing a new car or have any questions around applying for a car loan, please get in touch with our friendly team, we’re here to help. Alternatively, if you have a loan with Oxford Finance and are experiencing an unforeseen change in your financial situation, don’t leave it too late to contact us or call 0800 88 44 66.


calendar image

Seven Day Banking

Seven Day Banking

Did you know that on the 26th May New Zealand’s major banks changed the way they process payments from five days a week to seven days a week, 365 days of the year? It’s a significant change that hasn’t been widely publicised. So, what does it mean, and how does it affect you?

sign with days of the week

What’s happened?

Prior to the 26th May 2023 our banks only processed payments Monday to Friday, excluding public holidays. This followed along the lines of ‘normal business days’ whereby banks and other businesses traditionally opened five days a week. For a while now, many companies and banks are now open for business seven days a week, so it makes sense payments can be processed everyday too.

 

What does this mean?

Automatic payments, bill payments, credit card, debit card and direct debit or direct credit transactions can now be made every day, including weekends and public holidays. For example, someone buys an item you’ve listed on TradeMe on Friday, you give them your bank account details and the money is in your account on Saturday, instead of having to wait until Monday or Tuesday, if Monday happens to be a public holiday.

man and lady throwing money illustration

Things to be aware of

  • Banks have stopped allowing customers going into unarranged overdraft when direct debits are due.
  • In the past, direct debits would still be processed if there weren’t sufficient funds in your account and your account would go into unarranged overdraft. Now, direct debits will only be processed if you have enough money in your account on the day the direct debit is due.
  • Also, if you have an automatic payment or direct debit payment scheduled on the 20th of each month for example, this payment will be taken no matter what calendar day the 20th falls on, even if it’s a weekend or a public holiday.
  • Most major banks have adopted seven-day banking. A full list of participating banks can be found at Payments NZ.

calendar pages

Plan ahead

  • Make a list of all your outgoing automatic payments and direct debits and set up calendar reminders in your phone a day or two before they are due. Check your account balance and make sure there is enough money so you’re not caught out.
  • If you need to, make any necessary changes to your automatic payment or direct debit payment dates so that they align with your salary payment cycle.
  • Ensure there is enough money in your bank account on the day a direct debit is due, or talk to your bank to see if you can organise a pre-arranged overdraft limit.

lady at computer looking at online banking

As with any change, now is a good time to review your budget and finances to ensure you’re on the right track and to make any adjustments if you need to.

If you have a loan with Oxford Finance and would like to change the date of your direct debit to align with your pay cycle, get in touch with our friendly team, we’re here to help. Alternatively, if you are experiencing an unforeseen change in your financial situation, don’t leave it too late to contact us or call 0800 88 44 66.


driving on wet country road at night

Get your car winter ready

Get your car winter ready

With winter just around the corner, now is a good time check your car is ready to tackle the cold, wet and possibly snowy conditions safely. We’ve put together a list of car care tips and things to check to keep you moving this winter.

Check your tyres

If your tyres are underinflated you’ll lower the fuel economy of your car and shorten the lifespan of your tyres, not to mention your car steering, handling and grip can be significantly compromised. Overinflating will also shorten your tyres lifespan, so it’s important to get it right. Look in your car’s handbook for the correct tyre pressure or on the sticker inside the driver’s door.

man checking car tyre

Ensuring the correct amount of tread on your tyres will make a difference to how your car handles in wet conditions and how quickly you can stop. A simple test to measure tread depth is by placing a New Zealand 20 cent coin upright into the centre grooves of your tyre. If you can see the number 20 it’s likely you’ll need to look at purchasing new tyres.

Make sure all your lights are working

With shorter daylight hours and more driving to and from work in the dark, it’s important to check your exterior lights are working and are kept clean for optimum visibility.

car headlight

Take care of your car battery

The lower winter temperature makes is harder for your car’s engine to turn over so, when you start the ignition, wait a few moments before switching on the headlights and cranking up the heat.  EV drivers are not exempt here either, the cold weather can have a negative impact on battery power output so it pays to keep your EV fully charged.

Look after your windscreen

Keep the inside of your windscreen clean with glass cleaner and avoid using your hands on the glass to get rid of a fogged-up screen. Also, if you notice streaking when your windscreen wipers are on and it’s affecting visibility, it probably time to get new wiper blades.

man cleaning car windscreen

Make use of a garage, if you have one

Now might be a good time to clean out the garage or carport and keep your car there overnight during the winter months. Your battery will thank you for it and you’ll improve on fuel consumption if your engine is warmer before starting up.

Get your car serviced

To extend the life of your car and keep it running smoothly, aim to get it serviced every 10,000 kilometers or once every 12 months (every autumn is a good way to remember). Shop around for a car service, there are a range of packages available to suit all budgets.

Man working under car

And last but not least, drive to the conditions

Rain, fog, shorter daylight hours and black ice can all lead to accidents on our roads. Adjust your driving to suit the conditions and avoid sudden breaking. Reduce your speed, increase your following distance and get to your destination safely.

car on wet road

If you’re thinking about financing a new car or have any questions around applying for a car loan, please get in touch with our friendly team, we’re here to help. Alternatively, if you have a loan with Oxford Finance and are experiencing an unforeseen change in your financial situation, don’t leave it too late to contact us or call 0800 88 44 66.


pink piggy banks

Top money saving tips

Top money saving tips

Last month we ran a Facebook competition asking people to tell us their top money saving tips to be in to win one of three $500 cash prizes. We received an amazing response with over 700 entries and so many great money saving ideas.

As the cost of living continues to make daily headlines we’ve decided to share with you the top 20 tips that caught our eye. And, hope you’ll be inspired with some real life tips from everyday Kiwis.

buying groceries online

Top 20 money saving tips

  • Take a percentage of your salary after tax (let’s say 5%) put it in a separate account at a different bank and leave it alone. Treat that money as inaccessible and try to forget about it.
  • Sign up for loyalty cards that offer deals or discounts.
  • I pay my utilities, rates, insurance, mortgage bills fortnightly. Then set aside a certain amount for groceries.
  • We grow a lot of vegies at home for our meals.
  • I gave up smoking and banked that money each time I would’ve bought a packet of tobacco.
  • To stop myself from buying takeaways when driving I put my purse in the boot of the car. Too annoying to get out and get it before going through the drive thru.
  • Stop buying your lunch every day. It’s so much cheaper to bring lunch from home.
  • Make a plan for groceries. Shop around for specials and make enough kai to have leftovers for lunch or freeze for another time.
  • Put all $5 notes in a jar. By the end of the year you’ll be surprised how much you have.
  • I buy petrol on a Wednesday. NPD have 15c off.

fuel pumps in a row

  • Pack a picnic when taking the kids out.
  • ‘Black out nights’ – play board games by candlelight and save power.
  • Any money left over the night before pay day goes into the savings account.
  • Use the Gasby app to find the cheapest petrol. Find out more here https://www.gaspy.nz.
  • Take three minute showers! Play a favourite song as your timer.
  • Clothes swapping or sharing with whanau.
  • Turn your hot water off if you are away from home for more than two days.
  • We do our supermarket shopping online so we can take the time to look at pricing and easily take items off to fit our budget.
  • Check your power plan with Powerswitch.
  • Withdraw cash on pay day. This is my ‘allowance’ until next pay day. It’s amazing how much I am reluctant to part with cash!

pay day circled on calendar

Feeling financial pressure?

If you have a loan with Oxford Finance and are experiencing an unforeseen change in your financial situation, don’t leave it too late to contact us or call 0800 88 44 66.

Get confidential financial mentoring or budgeting advice from Money Talks, an organization that offers advice at no cost to you. Call them on 0800 345 123 or visit their website here.


man selecting shopping car on screen

Buy now, pay later?

Buy now, pay later?

See it, want it, buy it…then pay for it later, what could be easier?  Buy now, pay later (BNPL) is an increasingly popular in-store or online payment option in New Zealand, but is it right for you? We take a look at what BNPL is, how it works, along with the advantages and drawbacks of this short-term loan option.

What is BNPL?

Buy now, pay later (BNPL) is a service that allows you to get the product or service you want straight away, then pay for it in installments over a period of time. Popular BNPL providers include Afterpay, Laybuy or ZIP.

money illustration

How does BNPL work?

BNPL providers are fully integrated on the checkout page of an online store. You just opt to pay via the BNPL provider instead of using your credit card. Once you’ve created an account, approvals are processed shortly after your details have been submitted. You don’t have to use this service exclusively online either, BNPL is available in-store at many retailers throughout New Zealand.

Some BNPL providers will run a credit check and you may not be approved if you have a poor credit rating.

You may be requested to make an initial payment upfront, then the rest of your payments will automatically come out of your nominated bank account, debit card or credit card. Repayments are usually spread over five or six weekly or fortnightly payments.

lady in mall with shopping bags

Advantages of BNPL

  • It’s convenient
  • Fast and easy set up and approval process
  • Interest free terms
  • No fees if you make your payments on time

 

Drawbacks of BNPL

  • It can encourage impulse spending
  • Easy to overspend and blow your budget
  • High late payment fees if you miss a payment or don’t have enough money in your bank account
  • It can affect your ability to get a loan
  • You can run into trouble if you are juggling too many payment plans at once

man thinking with question marks over his head

So, is BNPL the right fit for you?

Deciding whether to use a BNPL service is a personal choice based on your financial situation. Before you jump right in it’s a good idea to ask yourself – Do I need it, or just want it? Can I comfortably afford the weekly or fortnightly repayments? If the answer is yes, then using BNPL can be a good way to make purchases and spread the payments over a short period of time. However, if you know you don’t have the best spending habits and think you’ll have difficulty making repayments, BNPL could make your situation go from bad to worse. Choose wisely!

You may be aware the New Zealand government is introducing new protections for consumers using BNPL, find out more here.

Feeling financial pressure?

If you have a loan with Oxford Finance and are experiencing an unforeseen change in your financial situation, don’t leave it too late to contact us or call 0800 88 44 66.

Get confidential financial mentoring or budgeting advice from Money Talks, an organization that offers advice at no cost to you. Call them on 0800 345 123 or visit their website here.


New Zealand money in pocket

Get your finances back on track

Get your finances back on track

Summer holidays, long lazy days in the sunshine, or if you’re in the North Island, looking out at yet another day of rain, may be starting to feel like a distant memory. Now that everyone is getting back to work and heading back to school, it’s time to ensure your finances are organised for 2023. Check out our top five tips.

1 – Holiday blowout

Firstly, if you’ve splashed a little too much cash around these past two months, don’t beat yourself up too much. You’re human and we all make mistakes. The important thing is to acknowledge you’ve over spent and find ways to fix any problems straight away.

Priority number 1 – If you have accidently missed a bill payment, don’t wait, pay it now. Alternatively, if your think you might not be able to make an upcoming payment, get in touch with the company or service provider to work through a payment plan or suitable solution.

Lady looking into empty purse

2 – Be honest

Take an honest look at your recent spending. Check out your latest credit card or bank statements to find out where you’ve over spent and why. Once you’ve discovered where the money has gone, you can start to think about strategies to fix it and save money instead. For instance, if you can see that you have indulged in takeaways a few too many times a week, start by writing a weekly meal plan. Buy ingredients for easy meals from the supermarket in advance and prep ahead of time. You can still have the odd takeaway, just make it a treat once a week.

bills and piggy bank on seesaw

3 – Review your budget

How often do you take a look at your budget? Is something missing, what needs to change?

Perhaps your budget is too restrictive and unrealistic or, you need to reallocate how much you have budgeted for certain categories? For example, if your internet provider has recently increased their prices, you will need to adjust your budget to cover the additional expense.

It’s also a good idea to set up an emergency fund. Putting aside a little each week adds up quickly and will give you a buffer in case something unexpected happens.

couple reviewing paperwork

4 – Set boundaries for future spending

Now is the time to set realistic boundaries to avoid the temptation to over spend. There are a number of apps available to help you budget, track your spending and set financial goals. MyBudgetPal is a great example of a free budgeting app available to Kiwis.

stack of gold coins

5 – Every little bit counts!

Small changes really do add up and will help you get your finances back on track. Be a savvy shopper and avoiding certain ‘specials’ at the supermarket. Do you really need five tins of peaches for $5 when you only intended to buy one for $1.20. Or maybe you need to ignore and avoid the latest sales at your local shopping mall and enjoy catching up with friends in the park or beach instead.

The beginning of the year is also a great time to review your subscriptions. It you only used your gym membership a handful of times last year, get rid of it!

Whatever you do, the key to successfully getting your finances back on track is to stay motivated. Break down your goals into smaller steps so they are more realistically achievable, and reward yourself when you get there…just not too much!

Feeling financial pressure?

If you have a loan with Oxford Finance and are experiencing an unforeseen change in your financial situation, don’t leave it too late to contact us or call 0800 88 44 66.

Get confidential financial mentoring or budgeting advice from Money Talks, an organization that offers advice at no cost to you. Call them on 0800 345 123 or visit their website here.


Christmas tree

Top tips for a stress free holiday season

Top tips for a stress free holiday season

With the rush and excitement of Christmas and the anticipation of a well-deserved break, we often forget it can also be a time of added pressure and stress about money. So, we’ve put together some practical tips to help get you through the festive season and have a truly happy new year, and not a financial hangover in 2023.

New Zealand money and calculator

Plan your spending

Christmas can be an expensive time of year, but it doesn’t mean that maxing out your credit card over meeting your financial commitments is a good idea. Here are a few things you can do:

  • It sounds boring but it’s really important – start with a budget and stick to it.
  • Make time to compare prices online and take advantage of pre-Christmas sales.
  • Share the load and cut down time spent at the supermarket checkout by organising family members to each bring a plate on Christmas day.

friends sharing Christmas dinner

Don’t over commit

Between friends and family, work and school, you are bound to have events or invitations fall on the same day. The best way to navigate your social calendar is to prioritise what’s most important and what you can attend in person. It’s okay to say no to a few invites, it will help relieve stress and you might save some money too. If you can, save a few of those catch ups for the new year, you’ll likely be more relaxed anyway.

Be realistic about your budget

You may have just bought a car, finished a kitchen renovation, or have a new addition to your family. Whatever stage of life you’re at, remind yourself that everyone’s financial situation is different. Try not to feel pressured into buying expensive gifts just because your best friend or brother always does.

Relaxing on couch with cup of tea

Give yourself a break

Schedule in some ‘me’ time without breaking the bank. It could be a YouTube workout or walk around the block. A phone call with a friend, or even just 20 minutes sitting down with a cup of tea. Remember, you are only one person and you can only do so much. If the pavlova collapses it’s not the end of the world. It will still taste the same, and you can always try for that Instagram worthy pav next year.

Pavlova with berries and mint leaves

So, this festive season, try to focus a little more on spending quality time with family and friends and less on time spent tapping the plastic!

Feeling financial pressure this Christmas?

If you have a loan with Oxford Finance and are experiencing an unforeseen change in your financial situation, don’t leave it too late to contact us on 0800 88 44 66.

Get confidential financial mentoring or budgeting advice from Money Talks, an organization that offers advice at no cost to you. Call them on 0800 345 123 or visit their website here.


Credit score illustration

Your credit score and why it matters

Your credit score and why it matters

Are you in the dark about personal credit scores? How it impacts on how much money you can borrow? And, how you find out what your rating is?

We’re here to shed some light, explain why it’s an important tool for lenders, and a few tips on how you can make sure yours shines! 

What is a credit score?

Put simply, your personal credit score highlights your history of how promptly you pay your bills and pay back you credit obligations, such as a credit card or a loan. It is a number between 1 – 1,000, and the higher you score the better your credit rating is.

If you’ve ever had a credit card or even a phone contract you will have a credit history. Your credit data is supplied by companies that give credit (E.g. Banks, finance companies, power companies, phone companies), to credit agencies who report and record your credit information. This information can include instances where you’ve applied for a loan, paid bills on time, made overpayments, as well as if you’ve missed a payment or even been declared bankrupt.

loan application form and calculator

Why does your credit score affect your ability to get a loan?

Credit scoring and reporting helps lenders like us get an insight into how reliable you are with your finances – how often you’ve paid your bills on time and, how likely you are to pay them on time in the future. It can be used to determine your level of risk before deciding whether or not to lend you money. Your credit score not only impacts your ability to get a loan but can also impact the interest rate you pay. The better your credit score, the more likely you’ll have credit approved and, the cheaper it should be too.

Illustration of man pushing dial of credit score to excellent

So, how do you get a good credit score and what can you do to improve a low one?

Firstly, find out what your credit score is. New Zealand has a small number of credit reporting agencies who hold your credit data, and it’s an easy process to access your own personal credit history and credit score information. To get a free copy of your personal credit report provided by Centrix Credit Bureau, visit their website here.

Once you have your credit report in hand you can start to look at ways to improve your score. Here are some tips:

  • Pay your bill on time, every time! Set up a direct debit and take the hassle out of remembering when something is due to be paid.
  • If you have missed a payment, settle the outstanding amount as soon as possible.
  • Avoid applying for small loans or credit cards too often. Multiple applications at the same time can negatively impact your score.
  • Having a good long positive credit history will help to get you a higher credit score.

As you can see, how reliable you are with your finances directly reflects your credit score and can impact on how successful you’ll be when applying for a loan.

Check out our easy to use loan calculator to see what your loan repayments may be, and, If you have any questions around applying for finance please get in touch with our friendly team today. Alternatively, if you have a loan with us and are experiencing an unforeseen change in your financial situation, don’t leave it too late to contact us, we may be able to help.

Concerned about your finances?

Get confidential financial mentoring or budgeting advice from Money Talks, an organization that offers advice at no cost to you. Call them on 0800 345 123 or visit their website here.