Throughout the recession we have continually been warned to be creative with our money. However, it is doubtful that the financial experts issuing such warnings had the following in mind when they recommended creativity! Some people appear to have taken creativity to the extreme by differing origami shapes from bank notes take a look at the 10 best money origami produced so far.
10. Fish
Could these fish possibly be the most expensive around?
9. Toilet
Talk about flushing money down the toilet! All that’s needed now is toilet roll made of money to complete the look.
8. Camera
This camera certainly looks expensive but does this latest gadget have the quality credentials to match?
7. Elephant
This is fantastic; the creator has even managed to give the elephant an eye and tusks!
6. Shirt
Is this going to be the next big fashion trend amongst men in the office?
5. Snail
Who knew that you could make a snail out of bank notes?
4. Hang Glider
This is very inventive and with the level of detail in this particular origami it is likely that a lot of time and effort went into this one.
3. Flower
A flower made of money, which woman wouldn’t be happy to receive a bouquet made up of such flowers this Valentines Day?
2. Queen Elizabeth’s Hat
The Queen adds a new hat to her already really rather extensive collection.
1. Spider
Most people are scared of creepy crawlies but it’s doubtful that people would shy away from this spider.
Which one’s your favourite? Let us know with a comment below!
January 29, 2010
One alternatively to being bankrupt is not to be in debt in the first place. That’s easy for me to say, since I have this knowledge first hand. There’s so many simple rules that you can live by to ensure this never happens and I will try to outline the lessons that I have learned herewith.
Make a budget; you can never underestimate how much this saves you, work out your monthly incomings and outgoings. If you want to be really thorough keep a diary of all your spending over a month. Cut out all the unnecessary things, cut out the things you can live without and shop around for anything at all you can find cheaper. Every penny helps.
Secondly, cut out the vices in your life, drink, fags, gambling, woman or whatever is your passion for spending too much money unnecessarily. Lastly, don’t buy things that you don’t need, it sounds easy but it isn’t, impulse buying was always a weakness for me and its easy to bang it on a bit plastic and worry about it later. Avoid the worrying about it later part.
January 25, 2010
As soon as children can understand a little about money, you can start to teach them the value of saving and the dangers of debt.
When they get pocket money, encourage them to save a little each week. Then tell them about bank accounts; make it fun, tell them “when you put pennies in the bank, then you get more pennies back.”
Explain about savings accounts and where they can find the best rates by checking newspapers or online. Explain how their money will earn interest. And especially tell them about the sense of security if they have some money saved.
You’ve told them the good news about interest on savings, now is the time to explain how interest works the other way ….. when someone is in debt. Tell them how interest is added …… and at a much higher percent than on a savings account ……. and how the debt can spiral out of control.
If you instil in your children the need to save, put some money aside, then they should be off to a brilliant start.
January 12, 2010
It really depends on your situation. If you are still in an early and fledgling relationship then I think that you shouldn’t have to share your debt problems with your partner. It is more about diverting the actual truth rather than lying.
If you’re in a long lasting relationship then couples should share debt problems and should not lie to each other about their problems. This is what I do, and I find that a problem halved is a problem solved. I often share my financial problems with my mother who is also willing to lend a helping hand whenever I need it.
My sister has suffered from debt in the past, and did not share it with her husband for a long time. He was unaware that she had huge debts on her credit card. Eventually it all came out, and they divorced suddenly. She is now financially solvent and has no more debt problems.
December 23, 2009
While we’re all hoping Santa Claus will break into our house and leave us a bounty of presents, there are plenty of other yuletide security-breaches that won’t leave such a warm glow. And despite credit cards getting savvier than ever, they will never be impenetrable. In fact, Wired has shown just how easy it is to fake a credit card, which will prove harrowing season at a time when people will need to rely on plastic far more than usual. CPP predict that 315,000 shoppers are likely to experience card fraud this winter, with the average sum lost hovering around the £600 mark.
Richard Hurley, communications manager of the UK’s Credit Industry Fraud Avoidance System, offers a timely warning: “the festive season traditionally reminds us of the high street threats of thieves and pickpockets stealing our wallets. We must, however, protect ourselves equally from their latter-day counterparts who target our identities.” CIFAS noted at the start of December that 68,000 people suffered from online identity theft in the first ten months 2009 – a 37% increase from the year before!
But just as serious a problem as actual fraud is the perception of fraud; if consumers have no faith in online security, they won’t be willing to take advantage of the many great online offers and settle for more expensive, but seemingly safer, real world purchases. A survey from Verisign claims 22% of British consumers are “held back” from shopping online this Christmas due to fears of having their identity stolen and 14% automatically distrust ecommerce sites on principle.
While is is always more comforting to have rely on picking up tangible goods from a trusted brick-and-mortar store, it isn’t as though real-world credit card purchases are truly much safer. Last month, the BBC reported on the largest credit card recall in history. In Germany, over 100,000 German credit cards were replaced due to the threat of personal data theft. The breach supposedly took place by a Spanish company, potentially posing a threat to any visitors to the country over the last few months.
What is important, no matter where you shop, is to spot the tell-tale signs that suggest your credit card is in safe hands. At present, there are numerous safeguards shoppers can look out for ensure they are as protected as possible. Most importantly, make sure the URL in the address bar either begins with https:// or has a padlock sign, to see that any data you enter will be encrypted. To check the security of the encryption, it is worth checking to see if the the payment service has been verified with an ISIS (Internet Shopping is Safe) or Shopsafe logo.
Jack Dorsey’s ‘Square’, a portable phone-based card-reader, stores no transaction data, making it far safer than any contemporary practice – so perhaps we are headed to a more secure future. But as they won’t be ready for Christmas, caution and common-sense are two of the best friends you can have over the holiday season.
This is a Guest Post from the team at Financial Facts, a great UK personal finance blog. If you’d like to write a guest post for MoneyStand, get in touch!
December 21, 2009
The first step is to notice that you have a problem so well down you have completed the first step and hopefully the only way is up! It will take a lot or determination and maybe even some sacrifices however it will be worth it in the end. The second step would be to stop spending. Of course there are always the essentials you need to buy but could you cut down on luxury products and nights out etc. Also it does help to cut the cards up; it means the temptation has been removed.
There are many things that you can do to get you started.
- How about looking at the interest rates on credit cards. Is it possible to switch these over to something that is 0% and stop you wasting money on just paying off the interest which can take years to clear off the balance?
- Earning more money is also a good way to chuck some extra money at the debts to get them paid off quicker. How about extra shifts, a second job or even selling unwanted items on the internet. It can be hard work but remember your aim – to be debt free. It can help setting yourself a goal and give yourself something to work towards.
- Something that is definitely worthwhile doing is drawing up a list of all your incomes and out goings. This way you can pin point areas which may need a bit of work and help to save any money which you can throw at the debt. A budget for food etc can stop any wastage. Also it is a good idea to work out which debts need the most attention, these are usually the ones with the high interest.
December 16, 2009
Bankruptcy should only ever be seen as a last resort. The consequences are serious, affecting the person’s ability to retain their home or earn a living through their own business, for up to 15 years. The increased pressure from being in such a dire long-term situation puts pressure on the person emotionally, effecting personal well-being and relationships. Possible alternate avenues to clear debt include:
Option 1
Review current finances and consolidate debt; take into consideration incoming and outgoing finances and prioritise payments. There are payments that you must not miss at any cost and these include your mortgage and household utilities. Cut out non-essential outgoings and lower loan or credit card payments by consolidating debt into lower monthly payments.
Option 2
Use a debt management company to devise a debt management plan and act as a middleman between yourself and your creditors. Debt management companies will review what you must pay, for instance household builds, and split the remaining money between the creditors. Beware: not all creditors will be willing to go down this route and County Court Judgements (CCJs) may ensue.
Option 3
Many of us will have already seen the glossy television ads promising to wipe away 75% of our debt. Individual Voluntary Arrangements or IVAs is a formal arrangement between the debtor and creditor, arranged by an Insolvency Practitioner (IP). Unlike bankruptcy the IVA should protect your home during the term of the arrangement. However, IVAs are complicated solutions and should be investigated in detail before being pursued.
December 12, 2009
Something I frequently read is that an IVA is more flexible than bankruptcy.
An IVA will certainly give you a degree of control over what happens in the event of serious financial difficulty.
When compared to Bankruptcy, there isn’t anywhere near the same level of intrusion into your life and financial history. You provide your practitioner with the information requested, including a breakdown of income and expenditure, so affordability can be determined. Bankruptcy results in a full and compulsory analysis of your accounts and can lead to a Bankruptcy Restriction Order (BRO). This would mean that you can be held accountable for up to 15 years in the event of unnecessary risk or fraudulent activity.
Another appealing factor for many is that you can protect your professional status of employment (lawyer, accountant, police etc) and family home within an IVA. You will still be expected to re mortgage at the end of year 4, but only if this is affordable and sufficient equity exists.
Your IVA will not be advertised in the local press so nobody will be made aware, although it will be recorded on the insolvency register. There are also new debt solutions such as the Debt Relief Order (DRO) released in April 2009 which could be an option for you. But of course, it will largely depend on your financial situation as to what debt solution is best for you.
December 3, 2009
Two weeks ago I got an email from someone in financial problems asking for specific advice in regards to their relationship. She explained to me that she has been keeping her debt from her partner as they have separate credit cards and asked my advice.
I’m very flattered for the email, but would like to recommend anyone with debt problems to seek professional advice. I’d like to offer you this response, however, which is my personal view.
I would never lie to my partner about debt, as sooner or later he would find out anyway. We share the post, share the bills and share the cost – so lying wouldn’t solve anything. However, it is more of an issue when we lie to our families about how we feel about the debt. Many of us cover the situation up by claiming the debt is manageable or you have it ”all worked out”. In reality, we’re hurting deep down and anxious to find a way of gaining money we haven’t got. Covering such problems up really doesn’t help, as those who care for you cannot help you if they aren’t aware of your troubles. There is a potential for strained family relationships when your debts force you to borrow money from those around you, even though you’re not sure when or if you can pay them back on time. Therefore, debt can harm family relationships if the problem is covered up or hidden.
I hope my perspective has been helpful, and if you do have debt problems, I can’t stress enough, seeking debt advice and communnicating about your debt is the best way forward. I’ve found these debt FAQs really helpful for answering some of my common questions about debt solutions.
November 23, 2009
Credit cards are a tricky subject. I don’t want to encourage anyone to spend dangerously on their credit cards or to spend above their means, but I also think it’s good to discuss how to use a credit card in a smart way to actually help control your finances.
First of all avoid the worst way to use your credit card – long term borrowing. If you need a loan it will almost always be cheaper to get it from a bank, especially if you are a home owner. Another method you could consider is your overdraft facility. A friend of mine has a particularly good deal with his bank that works out for him cheaper than a credit card for those small purchases. He finds the charges smaller for his spending needs.
But, assuming you won’t borrow any money for longer than a month or so, there are a lot of benefits to having a credit card. Indeed some goods and services, such as hire cars, are very hard to get without one.
This is because of the extra insurance and guarantees that your card provider gives you. Using your credit card for an expensive purchase can be worth it – I know someone who got £100 back after he broke a new camera. Even though he admitted he was at fault he was still partially covered. It is worth finding out what you are entitled to from your card.
Many credit cards also offer cashback or bonus schemes. So long as you use them for spending you would be doing anyway this can be a great saving – sometimes as much as 3% or 4%!
Basically credit cards can be great products if used right. Credit cards should never be used for credit! Use credit cards the smart way.
November 19, 2009
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