Why?
Because that’s what lenders will be using to determine the risk (and how much interest they’ll charge if they do offer a loan).
One of the most common misconceptions about credit ratings
Also, make sure that you’re on the electoral roll. It’s another one of the key indicators that banks use when deciding whether to give you credit.
How can I check my credit rating?
You can check your credit rating and get a full personal report on a free trial from Credit Expert. Simply sign up here, receive your pack and then cancel your subscription within 14 days.
Settle All Bills
Before you move out of your student accommodation, make sure that you’ve finalised any bills and let the utility companies know that you’re moving out.
Even a simple oversight could affect your credit rating in the future, so especially if the bills are in your name, get them sorted out!
It’s also a good idea to provide a forwarding address to your previous landlord to ensure you receive and further bills or letters in your name.
Get the best deal in your new place
for graduates is that since you haven’t had any non-student debt in the past, you won’t have any trouble getting finance or credit in the future.
But in reality, the opposite of this can be true. You need to build your credit rating because your risk factor is essentially an unknown. Start by taking out a credit card and using it occasionally for purchases, but making sure you pay it off in full every month. By proving that you are a responsible borrower and are more than capable of repaying back your debts on time will quickly increase your credit rating.
If you’re moving into a new property, take time to shop around for the best deals on utilities such as electricity and gas before committing yourself. With such a big expenditure, there are big savings to be had!
Thinking About Where to Live
Hopefully, you have secured yourself a great graduate job and you’ll be looking forward to living somewhere a little bit nicer than where you stayed during your uni days!
Never forget though that there are so many additional expenses when it comes to having your own place, especially when you’re sharing with less people, so signing up with a
housemate or two could be a wise decision.
It’s also worth remembering that rental prices and general costs of living can vary widely across the country and even within local areas. Pick a place you’d be happy to live in but can afford.
Going back to the nest.
If you’re really keen on saving some cash, don’t forget that there’s no shame in moving back home with your parents for a while! It could be a really savvy move and allow you to save up for a deposit for a property of your very own.
Paying Tax!
If you enter the world of work on an annual wage beyond the current personal income tax allowance, you’ll be eligible to start paying tax. This is taken straight from your pay cheque before you receive it.
Do be careful that you haven’t been put on an emergency tax code and that you aren’t paying more than you should be. Check with the HR department in the first instance, and if you’re still in doubt, contact HMRC directly.
Tax refunds
If you’ve been paying income tax during university, then double check that you haven’t overpaid tax. You can do this by adding up your income for the tax year, measuring it against the tax-free allowance and working out what tax you were liable for above this amount. Lots of students benefit from a welcome tax refund every year, but it’s often up to you to request it!
Discounts beyond student life
You’ll have to wave goodbye to your student discount, but that’s not to say you can no longer get money off
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60