Money

When you first arrive in the UK, it’s not easy to access credit. This is because most lenders focus on your UK credit history when deciding whether to approve your application. If you have just arrived, you won’t have a credit history, which makes accessing loans harder than you would have hoped. In this post, we look at how credit works in the UK and give you some tips on how to build your credit score from scratch.

What credit score are you given when you arrive in the UK?

Experian clearly states that “credit scores can’t cross borders.” So, if you’re a new resident in the UK, you have to build your score from scratch. This means you will have a blank slate to work from. Traditionally, lenders want to know if you have a track record of repaying debt in the UK before approving your application. If you’re new to the country, you’re an unknown entity to lenders, which means they see you as a risk. However, you can retrieve a copy of your credit history from your home country, and you can share it with a UK lender. Although it won’t guarantee approval, it can help with your application. You should also be mindful of the fact that each credit agency scores in different ways, for instance:

Experian

• Very poor – 0-660
• Poor – 561 – 720
• Fair – 721 – 880
• Good – 881 – 960
• Excellent – 961 – 999

Equifax

• Very poor – 300-579
• Poor – 580 – 669
• Fair – 670 – 739
• Good – 740 – 799
• Excellent – 800 – 850

TransUnion

• Very poor – 0 – 550
• Poor – 561 – 565
• Fair – 566 – 603
• Good – 604 – 627
• Excellent – 628 – 710

How can new arrivals increase their credit scores?

New arrivals in the UK often ask – how to build a credit score? – but it’s not the easiest question to answer. In fact, borrowing without a credit score is a bit of a catch-22. However, there are some things you can do:

Open a bank account

The easiest way to show UK credit agencies that you can manage your money is by setting up a UK bank account. Just make sure you stay below the overdraft limit.

Use a credit card

If you show discipline with your spending and keep within your limits, using a credit card is another good way of showing credit agencies that you can be trusted with credit. Credit card companies are more accessible to new arrivals than personal lenders, so it’s a good first step to take if you’ve recently arrived in the UK.

Register to vote

When you settle in the UK, head to the government’s website and register to vote, as it’s one of the first things that credit agencies look for.

Apply for a mobile phone contract

Signing up for a mobile phone contract is a form of credit, and you can use it to your benefit. Providing you make regular payments, the details will be logged favourably on your credit report.

Make regular payments count

In most instances, everyday payments and rent bills don’t count towards your credit score, but you can change that. Using a service like Credit Ladder shares details of your everyday payments with the credit unions, which can help you build your credit score from scratch.

How long will it take to build a credit score from scratch?

Unfortunately, there’s not a simple answer to this question. This is because agencies don’t disclose how long it takes to build a credit score and how exactly scores are given. However, taking the above steps should help to improve your score, and you should see results within a few months. However, achieving a good credit score will likely take several years, as lenders want to make sure you can be trusted before giving you a chance.

Can you plan in advance?

There isn’t a great deal you can do before travelling to the UK to build your credit score. Most UK banks offer International accounts, but they typically have fees and minimum balances that equate to around £25,000, meaning they won’t be suitable for everyone. One of your first ports of call when arriving in the UK should be setting up a bank account, which you can do once you have proof of address.

Can you get a loan without a credit score?

In the UK, you can get a loan without a credit score. In fact, it’s an issue that Koyo Loans is acutely aware of, given their founder moved to the UK in 2016 and found credit difficult to come by. As a result, Koyo Loans uses Open Banking technology to securely view bank account data, which enables the company to verify affordability. This levels the playing field and allows new UK residents to access credit where they might previously have been denied.

What happens if you move to the UK for work?

If you’re moving to work in the UK, you will still have to start your credit score from scratch. Some employers offer their staff one-off payments to get started in the UK, but this doesn’t always materialise. If you need credit, applying for a conventional loan is likely to be difficult. But again, opting for an Open Banking lender like Koyo Loans is a good option, as they will see your income arriving in your bank account.

Recap: How to build credit score in the UK

While it’s certainly not easy to build credit score in the UK from scratch, it’s certainly not impossible. Following the tips introduced above and applying to an Open Banking lender like Koyo Loans will help you access credit when you’re new to the country and will help you build your credit history from a blank slate.

 

The cryptocurrency market is exceedingly growing due to available sophisticated trading bots. Today, we review one of the most popular crypto trading bots on the market, Quantum AI. It’s highly profitable to trade with this bot due to its impressive Bitcoin trading features.

Check out our Quantum AI review for more information.

What is Quantum AI? 

Quantum Ai is an automatic trading bot specifically designed to offer you the best trading experience through quantum computing. Verily, Quantum AI is a highly reliable trading bot with a powerful computing strength.

Is Quantum AI A Scam? 

Undoubtedly, we assure you that Quantum Ai is a transparent trading system. Our verdict is based on these facts:

• It’s highly reputable. We discovered that at least 85% of its reviewers are satisfied with it.
• The bot operates on blockchain technology for full transparency. You can track all your transactions and solve any disputes through Smart Contracts.
• We didn’t find any hidden charges. Be sure to learn more about its charges on the trading resources dashboard.
• This bot doesn’t partner with unregulated brokers. Our Quantum AI review can ascertain that the 15 partnering brokers are well regulated.
• Quantum AI observes the best safety practices, which include data encryption and adherence to data privacy regulations.
• You can easily make withdrawals by simply submitting the provided form. The underlying broker promptly processes the withdrawals. You have at least 10 free withdrawals per month.

Quantum AI: Key Overview 

• Type : AI trading bot
• Profit Close Rate : 855+
• Registration: Free with about 10 min verification process
• Initial Deposit : $250
• Regulatory Body : CySEC (Liquidity)
• Withdrawal Time : 24 Hours
• Automated Trading : Yes
• Order Execution Time : Less than 1 ms
• User Data Encryption : Yes (AES 256-bit)

Quantum AI Key Bitcoin Features:

Quantum AI has unique features that enhance your trading experience and help with your overall profitability. Some of its key features include:

• Ease of Use 

Quantum AI has quite an easy to use user interface. Plus, it is simple to register your account as it takes less than 20 minutes.

• No Licensing Fees 

Quantum AI bot is free of charge, and there is no need to worry about your license expiring. You only need to ensure your account is set up correctly.

• Quick Trading Execution 

Quantum AI can close and open trades in under 1 ms. The bot is highly efficient and fast. It is helpful to have this bot, particularly in a rapidly changing cryptocurrency market.

• Leverage Trading 

With Quantum AI, you can make leverage trading at 5000:1.  It will help if you understand how to leverage trade.

• Reasonable Commission Fees 

It charges a 0.01% commission on your profits. The commission is a motivation for your broker to ensure your account runs as seamlessly as possible.

• Trade Popular and Exotic Crypto 

Quantum AI allows you to trade DASH, Bitcoin, Ethereum, or other toxic pairs. This includes AUD/MXN, GBP/ZAR, and JPY/NOK.

• Access Anytime, From Anywhere In The World 

You can get access to your Quantum AI account anytime, anywhere. You need uninterrupted internet access, an active browser, and your login details.

• Reliable Customer Care Department 

They have the most reliable customer care department. The department is available all days of the week (24/7) via phone call or email.

• Different Payment Methods 

Quantum AI allows you to make payments through bank wire, credit and debit cards.

Signing Up for Quantum AI:

You can easily own an account with Quantum AI by following these steps:

• Register 

Firstly, get registered by filling out the provided form and submitting the details accordingly. After that, you will get directed to a trustable account manager. The account manager assists you with verification and getting started.

• Deposit Your Trading Capital 

Secondly, make your deposit. This allows you to access the trading system and take the steps necessary to start the trading. With Quantum trading, you’re only required to make a minimum deposit of $250 as initial investment capital.

• Begin Trading 

Finally, you can start trading and make a profit after making a deposit! Just choose a reputable trader and let the bot’s computing power assist you in achieving your desired outcomes.

The bot will scan the entire market to search for new opportunities. With these opportunities, you can now start trading. Set your trading limits to help control how much you will trade using the Quantum AI bot.

Take Away:

Sincerely, Quantum AI is a trustable trading bot. It is easy to register, make low deposits, and has impressive Bitcoin trading features. Plus, it uses blockchain technology to secure and safeguard your data and investments. Indeed, our Quantum AI review recommends this bot for you!

Opposed divorces are tiresome and expensive. If you are going through one, you can expect to be contesting numerous significant concerns with your previous spouse, as well as the costs can be considerable. In Alabama, the ordinary cost of an opposed divorce can be between $5000 to $10,000, with harder separations running anywhere from $10,000 to $30,000. This is money and time that lots of people would prefer to prevent.

On the other hand, uncontested divorces are quicker, inexpensive, and also less difficult. If you are able to involve a contract with your partner on many, if not all, of the major problems normally related to a divorce, you can move forward with an easy uncontested divorce, conserving a number of hundreds of dollars at the same time.

What is an Uncontested Divorce

Essentially, an uncontested divorce is where spouses have actually come to an agreement that they are incompatible with one another or that there are differences of opinions which necessitates a divorce. Under these circumstances, they will be required to agree on all of the significant problems that will certainly think of an official splitting up. Problems like Alabama spousal support, child wardship, and also the department of assets will certainly need to be figured out, and also if the couple are on good terms this can be completed rather quickly, with or without the assistance of an attorney(s).

If you can not agree on all of these problems you might not always have to have a contested divorce. To avoid that you can look for the support of a regional divorce lawyer in Montgomery (or any place you live) to help you smooth out the information where you as well as your partner are not quite in agreement. If you are not able to resolve the concern then you will have to go prior to a judge and they will make the decision for you. This will, naturally, include the time and expense you will certainly sustain.

Prices for an Uncontested Divorce

Lawyer costs for an uncontested divorce typically are a flat fee that is less than a thousand dollars or so for an easy divorce in Montgomery County, Alabama. Different counties in Alabama have different going rates for handling this type of legal paperwork and each county has a different filing fee for starting the case with the Court, which a divorce attorney can help you figure out.

If there are extra residential or commercial property worries, tax obligation considerations, business passions, dna paternity concerns, retired life problems, or various other extra complicated problems that would certainly require the job of a lawyer after that you must anticipate to pay greater than simply the costs listed above. These additional charges will certainly look different relying on your conditions and also the intricacy of the concern, yet the prices will climb no place near to the expenses of a disputed divorce.

You might have seen that lawyer expenses are significantly lower than what you might anticipate with a divorce. The distinction remains in the labor that is called for on their part. With cheap divorces in Jefferson County a lot of the lawyer’s work boils down to preparing in your place, a few of which can be completed online, seeing that it is notarized as well as submitted properly, and obtaining the divorce mandate authorized by a judge.

Be conscious– an affordable divorce can only be accomplished if it is very easy. It has to be managed easily as well as gracefully in all stages, which not all pairs can do. However if you intend to save the cash on your divorce, it deserves getting together with your spouse to finish your initial settlements on those major issues that will make your splitting up possible.

 

If you have a credit card, there are a few tips you should keep in mind to maximize credit card points. Pay attention to expiration dates and rewards categories. Many credit cards offer a flat percentage on purchases, but rotating categories can help you earn higher percentages. Pay attention to which stores you spend a lot at, because you may be able to receive better bonus rewards from gas stations than from department stores. It is also a good idea to time your purchases to coincide with quarterly bonus categories.

Time your purchases to coincide with quarterly bonus categories

To maximize credit card points, time your purchases to coincide with quarterly bonus categories. American express gold benefits offer bonus categories once or twice a year. It’s best to check your credit card’s calendar to see what categories are on offer at a given time. For example, Chase Freedom Flex gives 5% back for purchases at home improvement stores during Q2 2021. If you’re in the market for a new refrigerator or washing machine, wait until Q2 2021 to make that purchase.

Time your purchases to coincide with bonus categories. Quarterly rotating bonus categories will change on a regular basis. Many rewards cards offer 3% cash back on certain purchases. Some rotating categories include gas stations, groceries, and restaurants. Some reward you with points per dollar spent. Points vary in value, depending on the issuer and purchase category. The highest redemption value is usually found in travel. Using a rotating bonus category can help you maximize credit card points.

Identify credit cards that offer the highest percentage of cash back for categories where you spend the most

Cash back credit cards are great for earning additional rewards, but you have to know which categories you spend most in. It’s important to remember that the bonus categories for some cards may not be very useful, but some of them offer lucrative bonus rates for certain purchases. Cash back credit cards with rotating bonus categories should be avoided because the earning rates will not match your most common expenses.

Some issuers will also give you additional cash back for spending in particular categories, such as gas. Some gas stations include an affiliated convenience store, but make sure to check which one is more convenient. Cash back cards with dining in categories may also offer you extra rewards for leading a group meal. Some credit cards offer rotating bonus categories that rotate every quarter. To maximize the rewards rate on your card, sign up for multiple cards.

Plan your spending to take advantage of sign-up bonuses

If you want to maximize the benefits of credit card sign-up bonuses, you must plan your spending to fall in line with the rotating categories of bonus points. Identify the categories that earn the highest points and make your purchases accordingly. Credit card benefits include auto collision damage waivers, extended warranties, purchase protection, and other perks. While maximizing the benefits of credit cards, it is essential to avoid excessive spending.

Don’t overspend to earn rewards

You can earn rewards by using credit cards. While they may seem appealing and valuable, overspending to earn them is likely to result in debt or high-interest charges. Instead, use a credit card to buy things you would normally buy. This way, you can use the points to buy airline tickets, which is an excellent use of rewards as long as you don’t incur high-interest charges. In addition, use the credit card responsibly and within your means.

Don’t make big purchases with your credit card. Credit card purchases may qualify for bonus points, which could add up to free money. But if you aren’t prepared to pay for the purchase in cash, you may as well use your credit card for larger purchases. Another strategy to maximize credit card rewards is to use rewards cards only when you have the funds to pay off the purchases. Pay off the balance each month to avoid interest charges and other fees.

Online casinos are fun and exciting for most players. However, people associate online casinos with various myths due to their growing popularity. Therefore, continue playing and ignore the many beliefs people label online casinos with as they are mostly untrue. If you enjoy playing your favorite games at the s188 mobile slots website, keep gaming and enjoying the online casino experience. Most myths about online casinos are misleading and false. Below are explanations of some of the most popular online casino myths.

• Online casino is illegal

Among the prominent myths about online casinos is that they are illegal. Plus, most people think there are no laws and regulations governing casino operations. Therefore, it is easy for casinos to cheat and get away with it. But, this idea is wrong as most online casinos have strict rules and laws governing them. Moreover, different places have different ways to oversee the casino operations.

• It is impossible to win on online casinos 

Most people feel it is not possible to win in online casinos. But this idea is inaccurate. Online casinos play and ensure fair games as they use a random number generator. The management checks these generators regularly to ensure fairness. Most people believe online casino games are scams. Yet, these casinos are licensed and verified and have fair games to play.

• Gambling sites are not secure 

Many people believe online gambling sites can expose their data or risk losing funds from their online accounts. But, the reality is the top gambling sites are among the most secure websites online. The encryption techniques and security technology they use are advanced, protecting your funds and data. Therefore, stick to reputable sites, and you will have nothing to worry about losses of gambling online.

• Online casinos divert attention from traditional casinos 

Most land-based casinos own online casinos to reduce traffic in their casinos. It is the same company, and the profit increases from the two setups. Therefore, online casinos are a way for traditional casinos to expand. Thus, it is a myth they take profit and attention from the land-based casinos as they increase their market share.

• Online casinos support underage players

People also believe that online casinos are not keen with age restrictions. This is a mistaken idea as most of them have age restrictions of 21 years. Underage players can find a way to access the casino, but experienced gamblers know there are age restrictions in reputable sites. Plus, if an online casino allows underage gambling, they can lose their license. For this reason, most online casinos have special tools to make sure no underage users can get an opportunity to gamble on their platform.

• You will get addicted to playing in an online casino

There is no proof that playing online casino games is certain to get addicted. Experience shows most gamblers play online games and do not form any addiction. Therefore, the addiction to gambling in online casinos is false. Although people get gambling addiction, there are several tools to help them set reasonable limits and remain focused.

• The game will freeze when you win too much 

The game freezing after winning is an online gambling myth not to believe. Most legitimate online casinos have systems and games with appropriate design. For this reason, when you win, there is no reason for the system to freeze. Whether the win is small or big, players can withdraw the winning on online casinos. Many online casinos have paid players in full who hit the jackpot on their site. Also, players who deserve an additional reward receive them with no malfunction.

In conclusion, the above are some of the myths about online casinos. Unfortunately, angry gamblers who have not been fortunate are spreading the lies. Thus, they seek every opportunity to discourage beginners mostly from playing in online casinos. Therefore, online casinos are secure and safe. Plus, they do not cheat customers and provide fair games. So, enjoy the online casino gambling experience and avoid basing your decisions on myths or negative reviews. In addition, other casinos offer other options to help gamblers balance their activities in online casinos.

 

There are several fun things you have done with your bike. Granted, going through the hassle of filing a motorcycle insurance claim will be nowhere on that list. However, as challenging as it may seem, it is possible to have a seamless time when you know the correct steps to follow. Here are some key steps to follow when filing a motorcycle insurance claim:

First things first, ensure that you are safe

In case of an accident, the first thing that should be on your mind is your safety. If you are still on the road, you need to get off to avoid oncoming traffic. However, be sure to take photos of the scene where the accident happened before you take your bike off the highway. Safety should be a priority any time you find yourself in the middle of an accident.

Do not admit liability

When you have a motorcycle accident, try not to accept liability for the other person’s damage. That could affect your insurance payout. The best thing to do is to keep quiet whether or not you think it was your fault. Try to keep your cool even if the other party is upset and angry. Just relax and wait for your insurance company to sort you.

Call the police

It is necessary to call the police when you are in an accident, whether or not there was someone else involved. The police will help with the third-party report that your insurance agents may need to fasten the claims process. The police will note down everything they saw and decide who was at fault. The police should also record the extent of the damage. Having a police record corroborating your claims makes it easier to get a good amount. The insurance company is more likely to trust the police record than your word.

Have all the vital information

After an accident, you want to have as much detail about everything. Jot down the names, addresses, and phone numbers of all the parties involved. Collect information about their policy numbers and insurance companies and have a description of all the vehicles and their license plate numbers. Gather the names and contact details of any witnesses present at the location. Try to ask the witnesses to wait for the police so that they can give a formal statement about what happened. Be sure that the other person gives you their correct names and addresses. You can ask for their driver’s license to confirm that they are not issuing fake details.

Take photographs

A picture is worth a thousand words. It is the same case when there is an accident. Pictures are excellent documentation when making claims. Take photos of the scene before moving any of the cars or motorcycles. It helps to confirm who was at fault, depending on the vehicle placement. Also, take pictures detailing the damage on your bike and any other property. Have pictures of the location, including street names and the homes and businesses nearby.

Contact a motorcycle accident attorney

The insurance company is not your best friend. In most cases, the insurance company will be looking out for their bottom line, even if it means resolving your claim for the minimum amount. Having an attorney will help level the playing field with the insurance company. Well, call a motorcycle accident attorney to help you negotiate for a better settlement. An attorney has your best interest in mind and will use their knowledge and experience to help you get the best offer. Even if the negotiations for a better settlement fail, they can ensure that your case goes to trial and you get the best outcome from the lawsuit.

Call your insurance agent

Call your motorcycle insurer to report the incidence. Do that as soon as possible- at least within a 24-hour window following the incident. You do not need to have all the necessary paperwork before filing the claim. The insurer should help you understand the vital information to get the ball rolling. They will also send an assessor to appraise the damage on your motorcycle. The assessment will determine the amount they will pay you. If your bike is damaged beyond repair, they may write it off and pay you on the limits of a total loss, depending on your motorcycle insurance policy.

Conclusion

Do your due diligence in research before filing a claim. You do not want to go through the process blindly. Be aware of the fine print in your motorcycle insurance policy to know the limits of your coverage options.

 

Keeping your loved ones protected for as long as you live and afterward is on everyone’s to-do list. To make it easier for you to achieve that, banks offer life term insurance plans. These plans allow you to assure a considerable amount for your family by paying a certain amount of premium in regular intervals.

Since these plans are crucial and require proper consideration, you need to focus on several things before buying a term insurance plan. You would want to go for the best term insurance plan for you. Therefore, we have some tips that can help with that.

Keep in mind your life stage and dependents

The first step that you need to take is assessing your life. When you are looking for a term insurance policy, you will need to evaluate your age, financial situation, life coverage, and more. All these aspects affect your policy duration and the amount suitable for you.

Financial responsibilities are distinct for everyone. If you are the sole bread earner, your financial responsibility would be more than someone who has other people who are earning as well. Hence, you need to consider your life as well as your dependents.

Evaluate your current lifestyle

Your current lifestyle also directly affects your term insurance plan as you will have to pay the premium regularly. Your spending habits, your expenses, and your general standard of living will allow you to choose a plan that is feasible for you.

Along with that, a clear idea of your lifestyle will allow you to secure your loved ones more efficiently as well. This is because evaluating your standard of living will also provide you with an estimate of the sum your family will require to maintain the same standards.

Consider your income

Most people struggle to figure out the amount of money they should insure for their family. This is where your income comes in. Analyzing your income is a practical way to know what your family would need in your absence. Evaluating the limitations of your income is also necessary while doing so.

Along with that, calculate the financial requirements of your loved ones and then see if your income is enough to cover these requirements. Doing this will prevent you from overestimating the life cover.

Keep in mind your existing liabilities

Consider your debts and liabilities in mind while choosing term insurance for yourself. Make sure that if you have long-term loans, they are covered by your term insurance. In case these loans/debts are not covered by your insurance, it may fall on your dependents which can be burdening for them.

You would want to avoid any circumstance that overburdens your dependents, so make sure that you keep this in mind.

Do not ignore riders

Riders are additional benefits that are provided by your insurer. These help in providing your family with some extra amount over the sum insured. There are different types of riders available that suit different needs. You can attach these to your base policy right at the time of purchase by paying some extra premium.

Some of the riders available include critical illness riders, disability riders, etc. Riders allow you to expand the scope of your term insurance policy, so make sure you make use of them.

Common mistakes to avoid

Not that you know about some of the things that you should do, let’s look at the mistakes that you should avoid while choosing term insurance plans:

• Follow the tips we have given above to calculate the amount of cover you recover. Avoid miscalculating your requirements. If you end up choosing a low cover amount, your family/depends will take the brunt for it. If you end up going overboard, you might encounter a financial burden because of the premium.
• Instead of short-term policies, go for long-term policies. Short-term policies may seem advantageous at the beginning; however, they are not practical. You would not want to buy another term insurance at 40 or 45, so you should choose a long-term insurance cover.
• The biggest mistake you can make is delaying your term insurance plans. Experts advise you to go for a term insurance plan as early as possible. One of the reasons why this is recommended is because the earlier you buy the plan, the lower your premium will be.
• Yes, your medical information can lead to higher premiums. However, you need to disclose your full and correct medical information to the insurer. This is because it can lead to several disputes in the end, which will fall on your family.

Conclusion

A term insurance policy is crucial as it protects your family financially. Make sure you make an informed decision while buying such policies, as it will eventually affect your dependents and family. All the best!

 

Most people understand just enough about finance and money to get by. But according to finance insiders like Dan Schatt and others in the industry, there are some very basic money concepts that most people don’t fully understand.

There’s a pretty wide range of knowledge and financial literacy out there, so we’ve identified ten critical concepts about money and finance that we think everyone should know before they become adults. If you like to keep your finances simple, or if you’re just starting out in the world of money, understanding these ten concepts is a good place to start.

Saving versus Spending

The classic example of someone who can’t save versus someone who can is a person with $2 and a cup of coffee versus another person with $1. Both people have just enough money for one cup of coffee. But the person with $2 puts some in their pocket and leaves the rest for future spending, while the person with $1 spends it all on their single cup.

This difference between saving and spending applies to every aspect of your financial life:

– You can save or spend any extra income you make at the end of each week/month/year (after paying bills).

– You can save or spend retirement income when you get closer to retirement age (and after you retire if you’re self-employed).

– You can save or spend investment returns, whether that’s in the form of building up cash or increasing your investment accounts.

– You can save or spend social security benefits (and similar types of income).

This concept is simple, but it has huge implications for nearly every aspect of one’s financial life.

Compounding interest

Compound Interest is an exponential growth effect on money due to reinvesting earnings – also known as making your money work harder for you.

Compound Interest is when the interest on deposits in a bank account, savings account, certificate of deposit (CD), etc., are added to the principal sum. As a result, the interest will earn more money based on the amount originally invested plus all previous gains. This allows even small sums to grow into large sums over a period of time.

Investing versus Borrowing

Investing is when you use your money to create a financial asset that will potentially generate income and appreciate in value over the long term, such as shares of stock or real estate.

On the other hand, borrowing is when someone gives you their money to spend on something with the expectation that they will get it back later, usually with interest. Usually, this means taking out a loan through a bank, but credit cards and even payday loans function as “short term” borrowing instruments for those carrying high debt loads.

Risk Tolerance

Risk tolerance describes how much risk one can handle emotionally before being overwhelmed by fear or greed when investing.

An individual’s level of risk tolerance can be correlated with age, time to retirement, children, income levels, and amount of savings.

Boglehead experts suggest that the investment policy statement should guide market volatility during recessions, depressions, inflationary episodes, and deflationary episodes.

 

The cost of installing solar panels on a residential property has fallen by more than 70% in the last 10 years. But exactly how much do solar panels cost for a house? If you are considering buying solar panels, then this is an important question.

In this blog post, we will take a closer look at the cost of solar panels. We will also look at some of the main factors that determine the cost of solar panels. A sizeable percentage of homeowners in the United States say they are strongly considering making the switch to solar energy—if you are one of them, keep reading!

How Much Do Solar Panels Cost for a House?

As we will see below, there are certain factors that will determine the exact cost of solar panels so it is difficult to give an accurate estimate.

Let’s take a look at the state of Indiana and an average-sized solar panel system. A 5 kW solar panel system here costs an average of $9,631, with an average cost per watt of $2.60.

A homeowner in Marian County, for example, would pay an average of between $7,427 to $9,077 for a 5.1kW system. The payback period here would be between 8.6 and 10.6 years. The net profit (the savings less the system cost) would be between $16,565 and $20,246 over 25 years.

What Are the Factors That Determine Solar Panel Cost?

A primary factor here is the size of the solar panel system that you choose to install. This will be largely dependent on the size of your property, the number of people who live there, and your current energy usage.

Your property’s location is another factor, with regards to the amount of sunlight it receives during the year, local market conditions, and state incentives. Currently, homeowners in the US can avail of a 26% federal solar tax credit in addition to any state incentives.

The type of solar panel system that you choose is another factor. There are 3 different types of solar panels—Tier 1, Tier 2, and Tier 3. While more expensive, Tier 1 is the premium option and produces the best output and features the lowest degradation rate.

It is also recommended that you choose a reputable and reliable solar panel company if you are considering installing solar panels. Check out Blue Raven Solar company today.

The Average Cost of Solar Panels

As this article has highlighted, there is a range of factors that determine the exact cost of solar panels. These include your property’s location and the size of the solar system you wish to install. What is clear is that solar panels are a great way to save on your home’s energy bills—savings that can come to tens of thousands of dollars.

Like this blog post on how much do solar panels cost for a house? Be sure to check out our other informative articles on a wide range of interesting topics.