Both Mungo Money and  the Money Saving Blog (Money Talks) have been redesigned and updated to offer a better slection of credit cards, personal loans and saving accounts.

The look and feel of Mungo has been totally re-engineered so that you can find the product you need quicker and easier. We’ve got a brand new star rating system in place so users can review products that they have applied for, letting new customers know the real deal!

So Happy New Year from Mungo Money UK and enjoy the new website!

1) Determine the frequency of the expense: knowing when you are going to be spending something helps you know when you would need the money for it. Most household expenses can be segregated into weekly, monthly and even annual expense. Put in the relevant amounts depending on the frequency.

2) Use the data of your bank statement to create the budget as well as determine frequency of payments required.

3) Don’t include the same item twice in your budget…this does not give the true picture of the cash requirement you are likely to have.

4) Be realistic in your estimates…if you are going to spend $300 in entertainment, don’t hesitate is writing it.

5) Budgets cannot include everything…you need to provide for whatever you remember and keep some room for contingency. Also keep tweaking the budget as you go ahead so that you can keep an eye on your finances.

6) Crosscheck everything that you have put in and don’t just rely on your bank account blindly.

7) Take decisions based on the results of your budget. If you need to cut down some expenses, then do it right now. Plan cut backs in places which you can by identifying things which you can do without. Don’t just thing of cutting expenses but the COST of the expenses as well. Check the rate of interest and other costs of finance and make sure you are not paying too much for it.

There is no gain without the pain…simply put, the pain of cutting back costs is likely to result in better performance of your budget and take you out of debt and also help you save in the process.

9) Create piggybanks and physically separate the money to help you budget better. Ask any prudent housewife and they would have used this trick sometime or the other to make sure that they do not let money set aside for one thing get used up for something else. This also acts as a physical check on the budget and lets you know when you are running low on finances.
At the end of it, it is your own control factor of spending which will help you stick to a budget. The feeling of having spent just the right amount is quite good and you need to experience it firsthand!

Be safe with your paperwork. Don’t throw them without destroying them completely. Use a shredding machine if you have to. File all your important papers and don’t leave personal details in a public location. Internet has become a hunting ground for id thieves and you should be careful on unsecured sites as well as giving out personal details to tele-callers. A regular credit health check also lets you recognize an identity theft in progress. Last but not the least; you can enroll with the Cifas if you want additional protection from identity theft.

Many cards also offer free protection against identity theft and that is something you should definitely sign up for. Other modes of protection against identity theft are to get a card which provides high value identity theft. Capital One and Barclays both have a card in that category. Choosing a card matters in this case as you need to look at all their benefits including debt shift, the volume of spending and the potential to earn back cash rewards.

Keeping too many cards (for various reasons that you would like) leaves you vulnerable in many directions and might make identity theft difficult to track. Each card that you possess should be with an objective and the one with the identity theft coverage should be the one which is well balanced as well. At the end of the day, there are just so many steps which you can take on identity theft protection. Careful usage of credit cards with authorized vendors and not leaving personal data in multiple locations help reduce the chances of identity theft. If you suspect any kind of discrepancy, then you should be quick in taking action before the money starts leaving your bank. Another thing which you need to keep in mind…read the fine print relating to identity fraud coverage to make sure it does not have caveats which might result in generalized coverage only.

The leading 5 Finance Forums on the Web are Kiplinger.com, Fool.com, Seekingalpha.com, Marketwatch.com and Finance.yahoo.com. You will find more details about these forums in the information provided below.

Kiplinger.com helps you put financial events in perspective on a daily basis. It offers stock quotes, mutual fund rankings, financial FAQs, and other interactive resources. It is a trusted source of personal finance advice, business forecasting, investing advice, and financial management tools.

Fool.com is primarily a financial forum for the individual investor. It offers expert advice on picking stocks, investing for retirement, and dealing with life’s major personal finance decisions.

Seekingalpha.com – Seeking Alpha is the leading provider of stock market opinion and analysis from blogs, money managers and investment newsletters, and a provider of free financial content. It is different from other finance sites since it focuses its attention on opinion and analysis rather than the news. The articles are actually written by the investors and a personal touch gives them a new dimension.

Marketwatch.com, a subsidiary of Dow Jones & Company, is another vital Finance Forum on the web. It is a leading provider of Stock Market Quotes, Business News and Financial News. It offers real-time financial news, personal portfolio tracking, stock market quotes, expert commentary, and personal finance features.

Finance.yahoo.com – Yahoo! Finance offers financial information, including stock quotes and stock exchange rates. Here, you can get free stock quotes, up to date news, portfolio management resources, international market data, message boards, and mortgage rates information.

These are the major finance forums on the Internet. To meet the unexpected events of your life, to revamp the old and welcome the new, Top Five Finance forums would be of immense importance to you in helping you out with your financial needs and planning. Visualize life with its immense prosperities with the assistance of the Top Five Finance Forums and see the difference!

You can even use your bank account to transfer your debt and pay it off with your savings and then transfer the balance to the account at 0%. However, the 0% does not last for ever….in fact; it is for five months only. This shuffle is not applicable to the Egg card only. Use it on any other card and you will be surprised at the savings you can get. In fact this is the common modus operandi of tarts and those struggling to get credit can also use this as a somewhat cheaper way of getting money.

This loophole of the Egg card is now commonly known and there is no knowing when it might go off-air. However, as an end user, it is beneficial to have a range of credit cards in your name and pitch one card’s 0% interest offer or low cost balance transfer with the current card in use. the amount of savings may not be all that high if you are spending on credit card is limited and in that case you don’t really have to worry about the credit card debt anyways.

2) Don’t choose the most serious solution to get out of debt first. Try and sort it out via simpler measures such as stopping the outflow, proper evaluation of your current problems and other similar steps.

3) Don’t shut the door on the lender. Non-communication can result in the lender proceeding to various steps which might result in legal action. Keeping communication going helps in negotiating with the lender which is going to be to your advantage.

4) Don’t borrow more to pay old debts. This is nothing except a viscous cycle which will get you more in debt and not out of it. However, moving outstanding dues to a cheaper credit card or a personal loan at low rates might help you out. Check what you will end up paying over a period of time rather than the first few months only and then decide.

5) Become smart…check what the financial agencies are reading about you. You can also keep moving credit card balances or use tips on how to get free cash from credit cards to save yourself some interest. You can also consider re-mortgaging if the terms are right. Make sure the terms you have signed up are applicable and you are not being charged more than the industry standard.

6) Don’t save on one hand and take on additional debt in the other. The cost of security is not worth it. Secured loans are also an excellent way to get cash and they are usually at a lower rate as well.
Money management plays a vital roll in debt control. Be aware of your benefits, create a budget and stick to it. There are many budget checklists which can be used. Be money smart and do not pay additional charges for anything…furthermore, don’t be afraid to ask for refund! Last but not the least, avoid going to debt consultants who promise quick solutions and advertise heavily. Instead head to a national helpline or a government recognized help cell. Keep in mind, you are not alone and there is help available!

Thanks once again for your patience.