I work as an independent contractor… technically, I’m considered to be self-employed. I’ve heard that it’s very difficult to get a loan as a self-employed person. Is that true? What does the self-employed loan process consist of?

Self-employed entrepreneurs can sometimes find it difficult to get certified for a loan. Those considered to be self-employed are those who work as independent contractors such as yourself, own their own business, operate a sole proprietorship, or work in partnership with someone else. Although an estimated one in seven workers qualifies as self-employed, employees of a company usually have weekly or bi-weekly pay stubs and more of a guarantee (in lenders’ eyes, anyway) of maintaining steady work and being able to later make payments on the loan in question.

Help! My water pipes burst last week and I was forced to spend my daughter’s university fund to fix it. What should I do if a situation like that happens again? Should I just try to set aside money every month in a savings account for both my daughter in addition to the next disaster that may happen?

Many people rely on credit cards for small, unexpected expenses that pop up from month to month, however the interest rate for those burst pipes could be amazingly high. For larger expenses, an unsecured loan can offer surprisingly generous rates, a secured loan can offer even better rates, and you will not have to worry about the credit card hiking your interest rates whenever they choose, because your interest rates will be guaranteed over time. A common trait with those unexpected, emergency expenses is that they often come with a large price tag attached, which you are most likely unprepared to pay.

What are the different types of life insurance? Why would I need it? Is it worth getting life insurance cover? Is there anything else I need to know?

It’s difficult to think about what can happen in the worst case scenario, which is why many people choose not to buy life cover. It brings up some difficult, but important, questions to consider: Who will provide for your family if you die? Who will take care of them?  What kind of protection can you expect if you do purchase life insurance? Although many people may not buy life cover thinking that it is expensive, it actually is surprisingly affordable for any size bank account and can give you peace of mind knowing that your dependents will be financially stable even if something were to happen to you.

I will be graduating from university this year, and I don’t know what I’ll do! I’ll have student loans to pay and a flat to let. How will I manage it all?

Graduation, getting a new job, and entering the adult world can come with a steep price tag. You can no longer get a student loan to cover living expenses, and it’s more difficult to get by without financial help from your parents. It doesn’t help that according to a A friend of mine was just robbed, but her house insurance refuses to pay for the missing belongings, although everything should have been covered in full. How do I know this won't happen to me, even though I pay my insurance premiums in full and on time every month?

First, you’ll have to read the small print of your contracts with your insurance company and see exactly what is covered. You may think certain aspects of your belongings are covered, but they may actually be excluded or covered under a separate type of insurance policy. This is especially important in the coming months, because most home break-ins in the UK take place during the cold of winter. By following these five steps, you can prevent the same happening to you.

Property price growth in London's prime central districts has slowed to it's lowest rate in two years, according to a survey by estate agent firm I'm getting worried about my children going to university. Is there any way I can keep from having to pay off their school expenses for the rest of my life?

It may just be one of the proudest moments of your life as you drop off your "fresher" at the university doorstep for their first time. But if you're busy working longer hours to pay for their fees for university that you can't even visit them or see them off, it will certainly ruin what should be a special time. You don't want to spend the best years of your child's life wondering how you'll pay for it all.

What is the difference between fixed rate and adjustable mortgages? How do I know which one is better for me?

Since almost everyone owns a house at some point in their lives, this is one of the most common financial questions out there. Fixed Rate Mortgages are referred to as FRMs, and adjustable rate mortgages are usually called ARMs.

I’ve been saving up for a holiday for years, but I never seem to have enough to pay for it straight away. Is it a good idea to take a loan for a holiday?

While traditionally Britons have saved up for the holiday they’ve been wishing to take, sometimes a once-in-a-lifetime trip simply can’t be passed up. That’s where a secured holiday loan comes in. It definitely can be a good idea to look at holiday loans, and more than 18% of Britons do just that to pay for their holidays— the summer holiday season is one of the biggest spending seasons besides Christmas.

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