Trl Bank Blood Suckers

8/2/2019 Trl Bank Blood Suckers

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A Rich Life Letter Survival Guide

HOW TO BEAT

THE BANK

BLOODSUCKERS

How to protect your wealth over the coming

years and stop your bank leeching

thousands from your account!

by Lewis Geary


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ForewordMy name is Lewis Geary. Im the author of The Rich Life Letter,

and Minimum Wage Millionaire.

This report covers some of the ways you can stop your money from

ending up in the pockets of the big banks and other greedy

financial institutions. If youd like to get more free

information on ways to make money, save money, build wealth and

live a happier life then please check out The Rich Life Letter.

Twice every week I email my inner circle of readers with a free

newsletter packed with advice and tips. If you like the ideas in

this report, Im sure youll love my no-nonsense approach topersonal finance.

Enter this web address into your browser now and sign up on my

website:

www.richlifeletter.co.uk


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Introduction

Dear Friend,

You never see them...

You never hear them...

But in the dead of night, while youre sleeping safely in your

bed, they sink their teeth into your bank balance and drain away

your cash, little by little.

Sounds like an intro to a horror film doesnt it?

But this is worse than a horror film. Much, much worse.

In fact, if I showed you how much the banks have probably taken

from you over the years in unfair charges, bloated mortgage

payments and rip-off loans, youd probably scream more than if I

made you sit through back to back screenings of The Exorcist and

The Texas Chainsaw Massacre.

Seriously, this is a MUCH bigger threat to your wealth than the

recent banking crisis.

Okay, it riles us when incompetent, greedy bankers... the verysame bankers who almost caused a global catastrophe and sent us

spiralling into recession... pay themselves huge bonuses with

OUR money.

And it REALLY riles me when the government does nothing about it

except wring their hands and say we really think you should

behave yourselves.

But the banking threats I want to tackle today pose a far bigger

threat to your wealth than any banking crisis... because if you

sit back and do nothing, the banks (and credit card companies)will slowly drain your wealth away.

Pound by pound.

Thats why I decided to put this guide together for you...


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To help you beat the banks, to help you cut out unnecessary

spending, and help you keep more of your hard earned cash to

spend on yourself.

So without further ado, lets get going...


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BEFORE YOU DO ANYTHING ELSE...

Tackle the taboo that could

be losing you thousands!Ooh youll never guess what Mrs Miggins at number 42 has been

up to? Ooh, well I never! I wondered why shes had so much

plumbing work done recently... ooooh! etc...

While we love to blabber and speculate about what goes on behind

closed doors, theres one subject we HATE to talk about.

Money.

For some reason, where cash is concerned, we clam up instantly like its some great taboo subject that cannot be discussed:

thou shalt not talk about your finances... your salary...

bills... or spending habits with anyone, under pain of... of...

Severe embarrassment!

We Brits are odd creatures, arent we?

Get this: research from the Your Money Matters roadshow claims

that 25 per cent of us have NO IDEA how much money we spend in a

week!

Madness!

The thing is, by ignoring your finances you could be walking

blindly into a whole heap of trouble especially at the moment.

The biggest money mistake you can make

The credit crisis has caused financial mayhem in the UK.

Everything from savings to mortgages and shares have beenaffected. And if you take the pretend its all not happening

approach, Im sorry to say this, but youll only have yourself

to blame if things go pear-shaped.

Id like to help you avoid that painful eventuality if I can.

AND help you stay on course to achieve your financial goals in

the next 12 months.


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Thats why I say: you LITERALLY cant afford for money to be

taboo subject in your house.

So get control. Do a FULL audit of your income and expenditure,

savings, investment, loans and mortgages. Leave nothing out. Do

it this weekend or if not, as soon as possible.

Interrogate... probe... and discuss. See where youre leaking

valuable pounds AND pennies... see if theres a way to bring

down the cost of your borrowing... see where you can make

cutbacks in your spending.

Get the family involved. See if you can do all of this without

compromising your lifestyle too much.

Yes, its a pain in the backside... yes, it might be

embarrassing. Yes, it may take you a few hours when youd rather

be watching The X-Factor or whatever else is on.

But its absolutely vital to your financial future.

So make sure YOURE in control of your money. Then follow these

simple tips to make sure the banks and credit card companies

cant get their hands on it...


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Credit Addiction

how to beat it for good

I heard a particularly sad tale at the weekend.

A friend of mine told me that the situation at his work place is

really grim... overtime has dried up due to the economic

downturn and blokes who had gotten used to doing the extra

factory shifts were breaking down in tears at being told there

was no more after-hours work to do.

I feel desperately for these guys.

Its a sticky situation for the employer, too they are a

business, after all. They dont HAVE to provide overtime for

workers.

They would undoubtedly prefer to get the job done on time in

every instance. Overtime is a costly (but previously affordable)

failsafe theyd had to rely on all too often.

Unfortunately, workers had come to rely on it too. According to

my pal some had even factored the money made from extra shifts

into their mortgage borrowing which is incredibly dangerous...

But I rather suspect they were egged-on by over zealous lenders

back when we had a buoyant credit market (it seems so long agonow!)

This is precisely what sparked the credit crunch in the US:

greedy banks loaning too much money to lower-income people who

couldnt afford to pay it back.

Its only now that the effect of this greed is really starting

to bite worldwide. And who suffers the most? Ordinary, hard-

working people like my friends colleagues.

His firms customers are cutting back their orders... whichmeans theres less work to do and as their overtime bill was

one of their biggest expenses, the company are happy to reign in

these costs. So the people who have come to rely on this extra

work are completely scuppered.


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What to do about the growing cost of living

Were all looking over our shoulder a bit at the minute. My

shopping bill has gone up by about 20 a week and thats even

AFTER Ive employed my sneaky supermarket survival tricks...

But even if Alistair Darling is right, and we ARE facing the

biggest downturn of the last 60 years you dont have to go under

as long as you ACTIVATE your finances!

If you sit there watching as the situation worsens, fretting

about how youre going to meet your rising bills, youre not

thinking like a rich lifer.

I know its easy to say but its at times like this when you

need to be at your most dispassionate.

You need to stop looking at your debts as huge weights around

your neck and see them instead as mechanisms that can be

tweaked and controlled to your advantage.

Im not talking here about your utility bills, council tax, food

bills, or any other such monthly costs although there are

positive things you can do to bring these down i.e. switching

energy providers, request a re-evaluation of your homes tax

band... better budgeting... etc...

The debt mechanisms Im interested in are your mortgage,personal loans, car finance, credit or store cards... your

borrowing, as opposed to your bills.

Tweaking these can have a huge positive impact on your overall

debt burden. And you have more control over them than you

probably realise...

Right now you should be exercising that control. Instead of

having 5 or 6 different debt-streams leaving your bank account

each month at varying interest rates... you should aim for ONE

consolidated debt that trickles out of your account at thelowest rate you can get.

Sounds difficult, doesnt it? Well it isnt, as long as youre

prepared to put a bit of effort in...


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Why theres no such thing as a set-in-stone loan

Lets look at your borrowing.

In a moment well take a look at your mortgage and how to use it

PROPERLY. Because if you have one, its THE best and most

flexible debt mechanism at your disposal...

Then well go through any personal loans, store cards or car

finance that you might be paying anywhere between 9-35% interest

on...

Because theres A LOT you can do to get yourself better deals

and save yourself a ton of money.

For example, when you borrow money from any approved lender, you

agree to pay it back over a certain period of time at a pre-

agreed fixed or variable interest rate correct?

Many people think that this agreement is set in stone. But it

isnt, necessarily.

You can always ask any lender for a settlement figure i.e.

the cost of paying that debt off in full then clear it with a

credit card...

For example, if you had a personal loan of 2,500 paying 9%

interest and outstanding car finance of 3,000 paying 12%interest why not explore the idea of paying both off with one

credit card... and then transferring that balance to a low-rate

life-of-balance credit card?

That would knock a hefty chunk off your monthly outgoings!

So, rest assured, there are plenty of ways to make sure the

banks and credit card companies take LESS of your money, not

more.

Lets start with the biggest loan of them all...


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MORTGAGE TRICKS THAT

WILL LEAVE YOUR BANK FUMING!

Lets face it...

Unless youre Richard Branson, buying your house will be the

biggest expenditure of your life.

And for most of us, that means taking out a massive loan in theshape of a mortgage. Even my parents who were dead against

buying anything unless you could pay for it in cash had a

mortgage.

Its just something most of us will need at some point in our

lives.

But how you handle your mortgage once youve got it could make a

huge difference to your wealth over the years.

Seriously, if you get your mortgage right and make it work forYOU rather than the banks, you could end up 20,000...

50,000... 100,000 richer by the time you retire.

In fact, making sure you get the best deal over the lifetime of

your mortgage could save you around 4,996 a year!

Its that important.

Here are some simple ways to make sure you end up a lot

wealthier by the time your mortgage is paid off...

How to pay off your mortgage much quicker

As long as youre clued up on your mortgage... and youre aware

of the different types of products that are out there, you can

still pay it down - and even off - well ahead of time...


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No matter WHAT happens to interest rates!

Did you know that the word mortgage is derived from two Latin

words meaning, literally death pledge?

Im not trying to scare the Bejesus out of you - it just amazes

me the way people gloss over their mortgage debt sometimes...

But contrary to what you might think, living the rich life is

about facing up to, and even embracing your debt; not ignoring

it. If you know what youre up against, and how it works, you

can beat it.

Remember: were talking about 25 years of your life here... most

MARRIAGES dont last that long these days!

I remember a couple of years ago watching agog as lenders like

HSBC and Alliance & Leicester offered homebuyers 40-year terms

on their mortgages...

As I recall, Tesco went the highest of all with a whopping 52-

YEAR deal!

The joke always used to be: you get less than that for

manslaughter... but I think you actually get less than 52 years

for MURDER!

Talk about a death pledge...

The golden rule of personal debt

I believe that your mortgage is THE most important bit of

financial business youll ever do in your life, so you always

need to be on top of it.

Remember, even though its a huge commitment, your mortgage

doesnt have to be set in stone - you can change products many

times over the course of your loan.

And you should: interest rates can vary wildly over the courseof a mortgage. You can just sit there and let them do their

worst - or you can use this to your advantage... its up to you.

You should always make sure your mortgage is working FOR rather

than against you.


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This means ALWAYS making sure every penny of your personal debt

is being paid at your lowest rate, which is most likely your

mortgage... and looking for products that tie your home-loan

into your bank account, called offset mortgages.

(Though these arent for everyone, so make sure you get proper

advice from a professional mortgage advisor)

There are TONS of things you can do to bring forward that

beautiful day when youre completely debt free... in spite of

the prevailing financial conditions.

Never pay more than 2% mortgage interest

If youve never looked into switching your mortgage because it

seemed too complicated or time consuming, I hope youll forgive

my frankness but youre missing a huge trick.

I guess its because youre uncertain... you probably have tons

of questions about what to do... whats right for you... and how

its all going to affect your finances.

Im guessing some of these questions sound familiar:

Will I make any money from switching in the current market?

What kind of mortgage is right for me in the current

climate?

When is it right to switch?

What will it cost me to switch?

What kinds of fixed-rate deals are right in the current

financial climate?

When and how do I remortgage?

Is it worth remortgaging if interest rates are only going

to carry on going up?

Where do you look for the best deals?

Is it still a good idea to buy-to-let?

Will I ACTUALLY end up paying less if I switch?

Will I ACTUALLY pay my mortgage off any quicker if Iswitch?

Now, in case you hadnt already figured it out, your bank would

LOVE you to stay with them for the full term of your mortgage.

But you dont have to. There are plenty of ways to activate

your mortgage out there - as long as you know where to look...


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For example, did you know:

How to find mortgage deals that offer 2% - even if rates go

up to 8%

How you can buy a 1 Million property without putting a

single penny down

And this is probably my favourite activation trick of all at

the moment - I think this is GENIUS:

How to wipe 2,500 off your mortgage in a week

Heres a brilliant idea: multi-currency mortgages.

Sounds strange, doesnt it - and a little complicated but itisnt. You see; were only stuck with UK interest rates while

our mortgage debt is in STERLING.

But say you were to move your debt into another currency... and

then to another... and another... you could, in theory, always

ensure you were paying the LOWEST possible interest rate around!

And these kinds of mortgages DO exist.

The advantage of this, of course, is that your repayments are

lower. But the other advantage of a multi-currency mortgage isthat you can use it to pay off your debt quicker.

Heres an example...

Say you had 100,000 worth of debt and moved it into US Dollars

at $1.95 to the pound... then say within a week, the rate is

$2.00 to the pound, you move your mortgage back into Sterling

and youve knocked 2,500 off it in a week!

Now I know that currency markets are volatile and risky... Ive

used this to my advantage a couple of times when spread betting

but yes, I know it could work against you if youre not sure

what youre doing.

The beauty of these mortgages is that they are managed for you

by forex market pros!

Again, Im not suggesting a multi-currency mortgage is right for

you, but did you even know they existed?


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Everyone likes to talk about how they own their own home but

its a myth. Until youve paid that last penny off - and youve

got the deeds in your hand to prove it its the property of

the bank.

My view is that you should ALWAYS be looking to pay it down...

and lessen the impact your mortgage has on your monthly

finances.

This is a Rich Life Letter maxim... and one of the cleverest and

most prudent things you can do to secure your financial future

more quickly.

How to insure yourself against rate rises

Now if youre looking for peace of mind at the moment, knowing

how much your mortgage is going to cost you every month no

matter what happens to interest rates is one way to get it.

Switching to a fixed deal is one way to insulate yourself

against a raft of rate changes.

Of course, if rates stay low or even drop further you could

lose out if youre on a fixed deal in which case you can look

to switch again (always read the small print!)

But if they go up and I reckon they have to at some stage

youll find yourself well insulated.

Like I say: if you keep on top of your finances you can ALWAYS

make sure circumstances are working with you and not against.

Have a look for yourself go to www.moneysupermarket.com and

search for fixed rate mortgages.

Remember, if youre in any doubt over the right kind of product

for you, you should consult a professional mortgage advisor.


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HOW TO AVOID BECOMING A DEBT SLAVE!

When I was a lad (back in the days when Penny Farthings were all

the rage), I was taught to save, save, save.

Spending was seen as a bad thing, saving a good thing. And,usually, it makes sense.

BUT...

Over the last ten years or so, something has truly poisonous has

reared its ugly head and has threatened every household in the

country.

Im talking about debt.

Of course, we ALL have debt at some point or other, usually in

the form of a mortgage. But although it doesnt seem like it at

times, the government make some effort to keep mortgage rates

low (low for a loan anyway).

And in the last chapter I ran through ways to pay off your

mortgage and keep the costs as low as possible.

But over the last few years, OTHER debt has become a real

problem, mainly in the form of credit cards.

And debt is one of THE main reasons why most people struggle to

build a real wealth.

So, here are a few ideas to help you get out of debt and keep

control of your finances.

First off...


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Saving when you have debt is a false economy!

Why would you keep a sum in the bank and earn 3% on it when you

have a monthly credit card bill that charges you 18%?

It doesnt add up.

Saving is great we should all do it. But not while we have

credit card and personal loan debt - get these cleared first

then you can feed the piggy bank.

Use your mortgage wisely

Can you borrow from other debt that charges you a lower interest

rate to pay off your credit card?

Im talking here specifically about borrowing against your

mortgage.

5% on your mortgage has to be preferable to 18% on your credit

card!

Let me put it another way:

Would you rather have a spread of debt like this:

100,000 mortgage at 5% interest

10,000 personal loan at 7.5% interest

5,000 car finance at 12% interest

5,000 credit card balance at 15%

1,000 store card balance at 30% interest

Or a 121,000 mortgage debt at 5% interest?

Well, lets look at the benefits: Youve only one monthly

payment to worry about not five...

If you put all of your personal debt onto your mortgage (i.e.

remortgage and pay it off) you can cut HUNDREDS off your totalmonthly payments.

Also you can continue to pay the same amount per month if you

wish and clear down your debts much more QUICKLY...

For example...


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Say you owe 5,000 on your credit card, and the interest rate on

that card is 15%. You can afford to pay 75 a month which

means itll take you 142 months to clear.

Now lets say you move this debt onto your mortgage the

interest rate here (for the sake of argument) is 5%... You can

pay the SAME 75 a month and the debt will be cleared in 78

months roughly HALF the time!

Like I say: dont sit there wallowing: ACTIVATE your finances!

Approach your mortgage lender to see if theyre prepared to lend

you an extra amount on top of your home loan to pay off your

debts.

If youve had your current mortgage deal for over a year phone

your lender and tell them youre after a more competitive rate

AND that you want to borrow more money on top! (Dont ask

dont get... though Im not sure this applies if youre on a

fixed-rate deal!)

If they want to keep your business they may well offer you a

better deal there and then. Most lenders employ sales teams who

are bonused on customer retention. I.E. It is THEIR JOB to offer

you whatever it takes to persuade you to stay...

If you tell your lender that youre considering switching to a

different mortgage provider, you might be pleasantly surprised

by what happens!

As with all of these kinds of negotiations, it helps to have

ammunition to hand when you start the process off. So take a

couple of hours one evening this week and start researching

different mortgage deals online. It really is a good investment

of your time.

Mortgage comparison websites are a good place to start gathering

intelligence. Here are a few:

http://www.fsa.gov.uk/tables/http://www.moneyfacts.co.uk/mortgages/default.aspx

http://www.charcol.co.uk/

http://www.moneynet.co.uk/mortgages/index.shtml

http://www.moneyextra.com/compare/mortgages

http://www.moneysupermarket.com/mortgages/


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Final word: I promise you, consolidating all of your piddly-

fiddly debts into your mortgage WILL have a dramatic effect on

your monthly outgoings.

Its the intelligent thing to do: if you can renegotiate terms

with your existing lender (a better product or interest-only) or

get an improved deal somewhere else, you may be able to

neutralize the effect of your other borrowing completely!

How your credit card can get you out of debt

I know I know... Ive already moaned about the blight of credit

cards. But if you know how to play them, they can throw up some

advantages that are worth exploring...

Right now (subject to approval) you can get rates as low as 4.9%

on some life of balance cards (meaning the rate stays that low

until youve paid back the debt however long it takes!)

And if youre happy to have a pay-back deadline, you can still

get a 0% interest rate on some credit cards - for as long as 17

MONTHS!

Check some of these deals at www.moneysupermarket.com.

My advice: apply for the credit card, pay off any outstanding

finance with it then cut it up! FOR HEAVENS SAKE DONT SPEND

ON IT!!!

Credit cards get a bad rap in the personal finance media but

believe it or not, that little piece of plastic is the SECOND

most flexible debt mechanism available to you (assuming you

cant get a long-term interest free loan from a friend or family

member).

Used sensibly, your plastic can help you consolidate and clear

down your debts FAST...

You can dilute debt by moving balances around, and theres no

fee for paying your debt off early, in full.

Check your life insurance policy

Certain variable policies allow you to borrow money against

the policy maturity amount. Its a way to get your hands on cash

at lower than market interest rates.


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With both of these options, do your research and make sure

theyre right for you before taking the plunge. If in doubt,

always seek professional advice.

This might end up being the best way to reduceyour debt payments...

This wont be for everyone but why not ask friends or family

for a loan? Chances are youll get a very favourable interest

rate... maybe even nil!

This can be a tricky one so if you do it, make sure you agree

with them IN WRITING a repayment schedule that way youll

avoid misunderstandings and hard feelings. And it goes without

saying that you should stick to this!

How your neighbour can give you a cheap loan

Theres another way to borrow money cheaply without resorting to

banks, building societies, loan sharks or Channel Five daytime

TV ads...

Im talking about credit unions and there may be one in your

area...

Credit unions are financial co-operatives owned and controlledby their members. They offer good value loans, plus other

banking services like current and savings accounts, ISAs and

Trust Funds.

To join a credit union, you must have a common bond with

existing members.

But dont worry this isnt the freemasons. The common bond

may be as simple as living or working in the same area...

working for the same employer... or belonging to the same

association, such as a church or trade union.

Most credit unions loans will cost you no more than 1% a month

on the REDUCING balance of the loan (an APR of 12.7%). So if you

borrowed 1000 over one year, you would repay no more than 1067

in total.

Not bad, eh?


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Many credit unions charge less, some may charge more but by law

this cannot be more than 2% a month on the reducing balance (an

APR of 26.8%).

Better still, credit union loans have no hidden charges and no

penalties for repaying the loan early.

And even better STILL - life insurance is built in, at no cost -

so if you died before youd repaid the loan, the insurance would

pay it off for you.

There are more than 500 credit unions in the UK. To find out if

theres one near you, click on this link and use the search

facility.

http://www.abcul.coop/page/index.cfm

There are, of course, plenty more things you can do to save

money and head-off financial uncertainty in rocky periods.

Ill keep packing my Rich Life Letter email with them.

But please for your own sake dont ignore your finances: the

last thing you need at the moment is for your own money to be

working against you!


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MORE TIPS TO KEEP DEBT AT BAY!

How to avoid the minimum payments trap

If youve got a large credit card bill and theres no way you

can pay it back in full, you need to draw up a budget.

First, work out what you owe, in full.

Then figure out the ABSOLUTE most you can afford to pay off your

credit card each month.

Remember: If you stick to the minimum payments (PRECISELY what

your bank wants you to do) youll hardly touch the balance and

just prolong your debt agony.

So think hard... you dont want to be paying your credit card

company simply to service your debt. So how can you make your

monthly repayments bigger?

First sounds stupid but STOP using this card and any other

store or credit cards while this debt still exists. The last

thing you want to do is add to your overall burden

particularly with compounding working against you.

Then lets try to bring the interest on the debt down: that

means looking for a balance transfer for this credit card. There

are some good deals around at the moment go to

www.moneysupermarket.com and see if you can find one that suits

you.

But make sure you dont spend on this new card as purchases are

often charged at a higher rate!

Also, check very closely how long the new card will give you at

the preferential rate. Some are 6 months (bad)... others are the

lifetime of the balance (good!)


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The b word that can reduce your interest

The other thing to do is to organise your bills and make sure

youre paying as much by direct debit as you can.

This will give some much-needed structure to your finances and

will show you exactly how much money you have spare to pay off

your debts at the end of each month.

Remember the more you can pay off, the better!

Another thing you can try is to call your creditors and explain

the situation youre in, calmly and politely they may be able

to help.

This is a classic dont-ask-dont-get strategy...

Tell them you borrowed the money in good faith, you absolutely

intend to pay it back but that repayments are starting to get

on top of you and you fear you MAY have to go bankrupt.

The key here is not to ACTUALLY go bankrupt! That can leave a

stain on your credit rating for YEARS...

But if you MENTION the b word to your lender, youll be amazed

at how they suddenly start bending over backwards to help.

Remember they want their money back. If you go bankrupt they

may not even see a penny of it.

So what you may find is they reduce your interest rate by a few

percent or kill the interest completely.

Banks and credit card companies actually LIKE communication it

shows willing on your part. So dont be afraid or embarrassed to

pick up the phone and ask them what they can do for you.

And finally if you REALLY want to clear down this debt: be

disciplined and single minded about it! I always find getting

really indignant helps... particularly about paying interest!

I get so affronted that I should pay EVEN ONE PENNY more than I

borrowed. That keeps me nice and disciplined until the debt has

gone!


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How to stop banks ripping

you off when you go abroad

The way things are at the moment, when you kick back on holiday

and spend your hard-earned cash in local bars, restaurants and

gift shops, youre not the only one having a good time...

Your bank is too.

The loathsome practice of loading is where your bank charges

you an additional percentage ON TOP of the exchange rate for

spending abroad on your credit or debit card.

They do this because they can.

This is usually about 2.75% - but it wont show up as a separate

charge on your statement, the underhanded so-and-sos!

They also whack a 2% levy on any money drawn from foreign cash

machines on your credit OR debit card.

Some banks even charge you an ADDITIONAL fee for every

transaction you make overseas on your debit card... around 1.75

a go.

Beware this if you bank with Halifax, Lloyds TSB, RBS or

NatWest.

Little tinkers, arent they, with their hidden rip-off

charges... But heres the thing: There are two credit card

companies that dont charge A PENNY when you use them to make

purchases abroad...

(Although I should point out that they do charge a 2% fee for

withdrawing cash so dont!)


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Apply for one of these now, in plenty of time

for your holiday...

Our first holiday-friendly credit card is provided by The Post

Office. For more details click on this link:

http://snipurl.com/1j8p1

The second one is my favourite: the Nationwide Classic card.

Click on this for more information or to apply:

http://snipurl.com/1j8pk

My advice first: get one of these no-commission cards. Second:

dont change up ANY cash before you fly.

Take sterling with you and change some while youre out there

(but in a licensed bureau - NOT in a pricey hotel) to cover

drinks and ice-creams.

Use your holiday-friendly plastic as much as you can (the

examples above are both Visa so theyll be accepted practically

everywhere).

But DONT draw cash with it unless you absolutely have to.

Then, make sure you pay the balance off these cards IN FULL when

you get home. That way you wont pay any interest on your

holiday spending. Job done.

Final point on this: in shops, always make sure you pay in the

local currency. Especially as your holiday-friendly credit card

wont charge you a penny for the transaction.

I know its easier to think in terms of sterling when youre

abroad but dont. Leave it to a retailer to decide on the

exchange rate and you could end up being royally ripped off!

Theyll count on your ignorance to load the deal in favour of

themselves!

And we dont want that, now do we? After all, its YOUR holiday;

youre the one whos worked hard all year... why should anyone

else profit?


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And while Im here...

Right, thats the banks and credit card companies out for the

count. If you put a bit of time into it and CHECK whats coming

out of your bank account, Im utterly convinced you can cut down

on bills and charges and save thousands over the years.

Really THOUSANDS.

Imagine that for a moment...

Imagine having 10,000 MORE in ten years time, just for doing a

little housekeeping now and not just accepting what the banks

and credit card companies initially offer us.

Wouldnt it be great to have an extra 10,000 sitting in your

account in the future? I mean why let the banks have it when you

or your children could be enjoying it instead?

So dont put it off pick through the payments youre making

and see how much less you could be paying.

And while were here...

As were talking about saving you a ton of money, I just

couldnt resist throwing in a little advice on battling another

necessary evil the taxman.

Of course, taxes are necessary for the country to survive. And I

have no problem in some of my hard earned cash going towards

helping people who havent been as lucky as me in life.

Im sure you feel the same.

But do you want to pay MORE tax than you have to?

No, thought not. Me neither.


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But chances are, you ARE paying too much tax.

You see, most of us believe that theres nothing we can do about

the tax we pay... that the biggest chunk of it gets whisked away

before we even see it.

But theres plenty you can do... as youre about to find out...

And then theres the moral issue of paying our way which I

do believe in. But I do get cross when I see vast sums of MY

money being wasted by the Government on ill thought-out projects

and hair-brained schemes. Maybe you do too.

Not that disagreeing with the way my pounds are spent is any

defence for avoiding tax, you understand...

Of course, The Rich Life Letter is not a political vehicle...

Im sure things would be the same no matter who was running the

show. And thats why my first loyalty is to my family.

So if there are ways, loopholes, strategies and tricks I can

employ to keep more of my own money legally then Im sure as

hell going to look into them...

And then pass the detail onto you, naturally ;)

What if you could keep more of YOUR money?

The main problem with the taxation system in this country is

that its so damn complicated deliberately so. And because of

this we rarely hold it up to scrutiny... because where would we

start?

Im no tax lawyer dont ask me!

Every year tens of thousands of tax returns arrive late at the

Inland Revenue. I honestly think this has less to do with

avoidance and more to do with people putting it off because the

whole process is such a pain in the backside.

The revenues main tax return form is TEN pages long for crying

out loud!


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But it works: you see the cloudier and more complicated the

system is, the more well simply pay HM Revenue & Customs what

were told to like a bunch of compliant little lemmings. But I

remind you: this is YOUR money... YOU earned it... so YOU should

get more of a say in how its spent right?

Right?

Can you honestly say, hand on heart, that every bit of your

income wages, earnings from shares or property, interest

earned on savings, inheritance is being taxed at the correct

amount?

You might be shocked: according to independent financial

advisers yellowbrickroad.com, approximately THREE-QUARTERS of

all taxpayers are paying more tax than they need to!

Dont you think you should check your situation out as a matter

of priority?

Im not talking about, or advocating, tax evasion because thats

illegal. But theres absolutely NO reason whatsoever why we

cant ALL be more tax EFFICIENT... There are some great and easy

ways to LEGALLY pay less tax without having to jump through

too many hoops! Here are a few ideas:

6 ways to pay less tax

*** Get an ISA... Individual Savings Accounts (ISAs) allow you

to invest up to 7,200 a year in a tax-efficient wrapper. You

can make investments either in cash or stocks and shares. Any

interest earned on your savings, and any gains made on your

shares are tax free. For more on ISAs click here:

http://www.moneysupermarket.com/isa/

*** Get pensioned up... A pension is a brilliant way of ring-

fencing your money. For every 78 you save you'll get 22 taxback, boosting your investment to 100! When you retire, you can

take 25% of your savings as a tax-free lump sum but the rest

of your pensionable income is taxable.

Ask your employer if they have a final salary scheme it

might be your best option tax-wise. This calculates your pension


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based on the number of years you've worked and your salary when

you leave.

*** Claim tax back... non-taxpayers can claim back tax charged

on the interest on your balance in bank and building society

accounts. To get back your tax you need to complete Inland

Revenue form R85 form, which you can download at this website:

www.hmrc.gov.uk/forms/r85.pdf

Heres an idea: if youre a taxpayer and your spouse isnt, you

might want to consider transferring any savings accounts into

your spouses name... but if you do this, the account must be

solely held in your non-taxpaying partners name not joint

names!

*** Save As You Earn... Check whether your company has a Save

As You Earn (SAYE) scheme. This is a savings-related share

option scheme, set up by your employer, that allows you to

purchase shares in the company you work for at a discount... and

you pay for them out of your PRE-TAX salary... for more, click

here: http://snipurl.com/2w95x

*** Check your tax code... We Brits overpay MILLIONS of pounds

in tax each year and much of this is because we are given the

wrong tax code!

First thing to do is march on over to your payroll or HR

department and ask how your tax code has been generated. Askthem to explain the coding to you so that youre in the know.

Then telephone your tax office and ask them whether or not you

have been put in the right category.

You could find yourself getting a nice fat tax-back cheque

plus your wage packet will be more substantial going forward.

This website will show you how to contact your tax office:

http://www.hmrc.gov.uk/individuals/iwtcontact-my-tax-

office.shtml

*** Offset your mortgage: Ive banged on before about the many

benefits of offset mortgages... and heres another one: by

offsetting your savings against your mortgage, you dont pay tax

on the interest that your deposits would otherwise have earned.

Okay, you dont earn interest on your savings, but you will pay

less on your mortgage and that means youll cut its term. An


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example: If your mortgage rate is 5.95% and you offset 10,000

against a 100,000 mortgage, this is equivalent to earning 7.44%

on that money if you're a basic-rate taxpayer or 9.92% if you

are a higher-rate taxpayer.

For more info, click here:

http://www.offsetmortgagecentre.co.uk/

Uh-oh... rant alert...

Look none of this is sneaky or illegal. Its perfectly above

board to make your finances more tax efficient. Why would you

give away a PENNY more of YOUR MONEY than you legally have to?

Like I say, Im not averse to paying my way I like to think

Im a member of a fair society where everyone contributes theirshare to the running of things.

But I do REALLY do take exception to the totally unfair and

seemingly arbitrary array of taxes imposed on us in this

country.

Its a good job I havent got enough room in this report to get

stuck into Inheritance Tax (IHT)... thatll have to wait for

another day.

It makes me puce with rage just thinking about it... you work

hard all of your life, trying to make a crust for yourself and

your kids... You pay into the system in all kinds of ways:

through income tax, road tax, national insurance, duty on

petrol, wine, cigarettes, import duty, council tax... You know

as well as I do: the list is endless.

And then, at the end of your days, if you havent got your

affairs sorted out, the government can lay claim to a whopping

40% if your estate through Inheritance Tax!

Decency laws wont allow me to print what Im thinking so I

think its best for everyone if I just step slowly away from thekeyboard, go and crack open a cold can of Budweiser and see if

theres any cricket on the telly!


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ROUND-UP...

I hope youve found this survival guide useful.

If just ONE tip helps you save money, then my job is done

because I HATE to see good, honest, hard-working people lose

money unnecessarily.

Especially when there are ways you can fight back and keep the

banks, the credit card companies and even the taxman away from

your money.

But none of this is any good unless you do one thing...

You USE this information!

I know it may be a drag to make a few phone calls or do a little

research on the Internet.

And itll be an even BIGGER drag to go through your loans with

your bank manager.

But unless you pin these things down and DO THEM, youll never

be as wealthy as you could be.

And thats what this is all about making sure you grow wealthy

by keeping hold of money thats rightfully yours.

So go through this guide again, and get to work!

Ciao for now,

Lewis Geary

The Rich Life Letter


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Afterword

Let me show you how to enjoy a standard of living way

above what you earn... make good money on the side... andsave a packet without having to make painful sacrifices!

If you enjoyed this free report, youll love my twice-weekly

email service, The Rich Life Letter. If you havent signed up

for it yet, you can so so at www.richlifeletter.co.uk

Ive spent most of my adult life discovering hidden ways to

lead a wealthier, happier, more-fulfilling and stress-free life

without any major upheaval... now I can help you do the

same...

Twice a week, Ill send you lots of tips, ideas and little known

ways to live and feel like a millionaire, WHATEVER your wage

packet says you earn. Youll learn how to get control over your

finances fast and make money work FOR you instead of

against... how to make extra cash easily... and how to pay less

for the things they buy... without making major cutbacks.

Here are some of the tips Ive shared with my readers in the

past...

The TV trick that could get you a better quality 42" plasma

set for 900 less than the "top-of-the-range" model.

How a "debt diet" could save you A GRAND in a month great

if you need to pay off your credit card quickly... or save

for a holiday

New Tyres you never know if youre being ripped-off. But

visit this website and you can leave your car on the drive

and let the cheapest tyres in your area come to YOU

Is your bank penalising you for being a loyal customer? Put

a stop to it NOW and get their top rate by making one phone

call

Mobile phone contract up? This trick will get your

providers BEST handset and CHEAPEST tariff.


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How to get tons of free stuff from coffee... to

perfume... to cat food. Why spend s on your weekly

grocery shop when you can get it for NOTHING?

Revealed: the "hidden" side of investing that gives you all

of your profits TAX-FREE - legally!

Ive tried many of the tips, tricks and techniques Ill share

with you every week, and Im considerably better off for it. I

dont think I could go back to living the old way ever

again... Maybe youll feel the same in a few months time...

Ill also help you navigate a safe route through this difficult,

incredibly bonkers and often dangerous financial world we

inhabit. I can dig out some of the hidden tree stumps, sweep

away the banana skins and fill in the potholes to help smooth

your passage.

And the best bit about living the rich life? You dont have to

slave away like a navvy... suck-up at work... or kill yourself

chasing down that elusive million-pound-payday...

All it takes is a few, small, simple (and weirdly obvious)

changes to the way you think about your job, wealth and family

life. Your friends will definitely notice the difference in you,

but theyll never guess how youre doing it!

The Rich Life Letteris 100% FREE. Youll never be asked for a

penny to read it no hidden charges and no strings attached!

Whatever we think about money, the truth is that it is

incredibly important in all of our lives. Financial problems can

rip families apart. They can damage your health and destroy your

peace of mind and quality of life. But having more money in your

pocket every month can be a huge stress-buster: you can live

well, enjoy yourself and afford the things that youd normally

have to do without.

Imagine having the extra discretionary cash to pay down your

mortgage, loan or car finance... and reduce your overall debtburden... Imagine not being under quite so much pressure at work

OR at home. How would your relationships and emotional state

improve not to mention your quality of life?

For hundreds of moneymaking, money-saving and wealth building

tips, ideas and strategies, go to www.richlifeletter.co.uk now

and sign up!


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Heres what other readers have said about The Rich Life

Letter...

I enjoy reading your weekly letters and feel I have found a

kindred spirit. Keep it up.

Alwyn Smith

Let me say how much I enjoy reading your practical down-to-

earth tips on how to organise life so that it works how I want

it to. And also to tell you how much I enjoy applying those

tips. That's when the fun really starts!

Andie

Just writing to say how much I enjoy your twice-weekly e-

letter. I am a mum working part-time, realising that leveraging

my time so I can spend time with my family is the way to go now.

Gradually putting things in place to achieve this (though it's a

bit tight in the jar just now!) It really makes a difference

hearing from people who are of the same mindset, and scanning

through the ideas to see what fits for me. Keep up the good

work!

Anne Smith

I've subscribed to your Newsletter for a little while now and

always really enjoy reading them.. Your article about customerservice/how not to run a business should be required reading for

Chairmen/CEOs/MDs of companies of all sizes - not just potential

entrepreneurs. What you said is so obvious - and simple - that

one would expect everyone with any remote sense of business

acumen to apply these principles.

Inga Collison

I heartily endorse the contents of your Rich Life Letter. It

should be printed and framed and a copy hung in every workplace!

Well done and thank you.

Pamela Bower

I enjoy reading your insights into the financial world, your

emails always give me food for thought. Many thanks for your

amusing insight in an otherwise dull subject.


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Claire Martin

Just a quick note to tell you I enjoy reading your emails and

usually ponder your latest tips. Real food for thought. Keep

'em coming. Thanks.

Colin S

Great stuff Lewis! I don't praise lightly. There is so much BS

and hype about all the time. I enjoy your open, honest style as

"one of us" - the longsuffering masses. Keep up the good work.

David

Wow! I always look forward to receiving your Rich Life letter

but wow, wow and triple wow! I am going to print your email and

pin it to the notice board by my desk to remind me of what we

are doing right and more importantly what we have let slip.

Denise

Remember, The Rich Life Letter is 100% free of charge, and you

can unsubscribe at any time. So if youre not onboard already,

why not give it a go?

Just pop here for a second and sign up now:

www.richlifeletter.co.uk

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