The payday loans industry is worth £228 million in the UK

The payday loans industry is worth an estimated £220 million in the UK, down from around £2 billion quoted in 2013. The industry valuation is based on 760,000 loans funded in 2017 according to the BBC and an average loan value of £300, equalling to £228 million. This same calculation of valuing an industry based on the money lent out is used for other industries including guarantor loans (£400 million), equity release (£3 billion), peer to peer loans (£4 billion), bridging loans (£7 billion) and lending to family and friends (£21 billion) per year. The industry has downsized significantly over the […]

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How does a student loan work?

As we all know, going to university can offer a fantastic opportunity for our futures and for growth as a person. However, such an opportunity does not come without a cost in the UK, unless you are Scottish and attending a Scottish university. So how do you fund such an expensive experience? If you are starting your undergraduate degree in September or October 2018, the fees you will be paying will be up to £9,250 per year (27,750 in total for the three years). This price is just for the fees and you also need to take into account living […]

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How to prepare for retirement

It may be years off or it may be approaching soon for you, either way it is better to be prepared for retirement when it comes to it. Being prepared for retirement means that you will be able to live out your retirement without worry and to its full potential. But how do you prepare for retirement? Around two years before you are planning on retiring, it is a good idea to start thinking about what your options are for retirement and all than choices you will need to make. You can choose when you want to start taking your […]

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Ways to boost your income online

The internet is a wonderful place which connects people all across the world and provides opportunities to people that they would have otherwise never had. The internet can also become a global marketplace right at your fingertips, in which you can make money. This could be through selling your own items, promoting other people’s products or even completing online surveys. In this guide, we are going to be discussing the things, little or large, that you can do in order to boost your income. These are things you can just do in your spare time, so not a lot of […]

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New ways to make money from your home

New ways to make money from your home

In recent years, it has become increasingly common for homes to be viewed not just as an appreciating asset, but also a way to make money whilst still remaining in the property. Whilst sometimes all you need is the property to look stunning, or simply being in the right location, in other cases you may need additional guest rooms or outhouses in order to maximise income potential. Nevertheless, there are a number of new innovative ways that you can make money from your home, Payday Bad Credit takes a look at some of the most popular ways to make cash. […]

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How smart technology can help you save money on care homes

How smart technology can help you save money on care homes

We are all living longer than ever before, (reflected in the rise of the age one receives a state pension in the UK, for example) as a result of a number of factors, including medical advances and overall lifestyle changes, such as better diets and more physical exercise. With people living longer, this means that there is much greater attention on life into the retirement years, and especially when it comes to living independently in our homes into our later years. Many of us would prefer to continue living at home rather than go into a care home or at least […]

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Digital alternatives to high street banks

Digital alternatives to high street banks

More and more people across the UK are turning away from the traditional high street banks (for a number of reasons such as a lack of innovation, poor savings rates and customer service, for example) and decided to look at the alternatives that are available on the market: digital banks. Digital banks have been particularly popular with younger people, who are used to frequently relying on apps and websites to buy products as opposed to relying on high street stores. Furthermore, these digital banks tend to offer a whole host of features that traditional lenders do not, such as offering […]

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How to save money in the home

Everyone is looking for ways to save money here and there. No matter where you find yourself on your financial journey, you should keep it in mind that anyone has the ability to turn their financial situation around. A great place to slice the amount of money you spend is around the house since this will include your daily, weekly and monthly costs rather than individual big expenses. In this guide on Payday Bad Credit, we have compiled a list of simple things that you can do around the house to save yourself money. Wash Clothes at a Lower Temperature […]

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How to save money running your car

It is known all too well that owning and running a car can be a major expense. It would not be incorrect to say that in some people’s lives, running a car is one of the largest personal expenses they have. Whilst the expense of running a car is appreciated, there are obvious benefits to having a car and some people simply could not go about their daily life without one. Luckily, there are ways that you can save money on running a car and the expenses which are part of that. These methods should help improve your relationship with […]

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An overdraft or a payday loan?

If you are looking to obtain finance for whatever purpose, it can be hard to know which road to go down. Many people prefer the idea of an overdraft as it seems less of a commitment, but is this the case?  Well, as of recent, the Financial Conduct Authority (FCA) has vowed to crack down on the high-cost charges placed on overdrafts. These fees have been revealed to be seven times higher than the interest rates you will find with a payday loan. In this guide, we will run through the differences between an overdraft and taking out a payday […]

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