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January 2009

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How to Save Tips for Students

It's always been the case that students generally find it hard to make ends meet during term time. With the current recession, things are even harder now, so here are 10 money-saving tips that recognise that students also need to have some fun along the way. Read more »

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Bonuses on Savings Accounts - Avoid Subsequent Inertia!

Have you recently been attracted by bonus rates offered by your bank or building society for opening up a new savings account?  If so, think about what happens further down the line.

These offers are very much more common now with companies trying to get their accounts into Best Buy tables. With interest rates falling to record lows recently, they could clearly appear very attractive at this point in time. Read more »

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How safe are your Savings?

With UK banks being very much in the headlines recently for all the wrong reasons, there has been a lot of talk  about just how safe your money is in high street banks and building societies. The good news is that the Government backed Financial Services Compensation Scheme covers each saver for up to £50,000 in each separately licensed organisation. This means as long as your savings provider is registered with the Financial Services Authority (FSA), and therefore comes under this scheme, the Government will guarantee your money up to this limit. Read more »

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Dealing with Debt - Should you Consolidate?

Often it's hard to recognise if you have a debt problem. Once you have, it can feel like the end of the world and panic measures set in so it's beneficial to spot the signs early on. For example, can you only afford to make minimum payments on your credit or store card repayments? Do you regularly struggle to pay for your basic living costs (eg rent, mortgage, council tax, utilities)? Does your list of income and expenditure shows that you have more going out than coming in? Read more »

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How to Save Money (and your relationship!) on St Valentine’s Day

It's not long now until St Valentine's Day. This year with the credit crunch it will not only be important to many of you to ensure that it's not missed, but also that it does not over stretch your finances. Here's 6 simple ideas that will not cost the earth and if followed will ensure that the romantic side of you will clearly emerge. Read more »

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Any advice for Barack?

Today sees Barack Obama become the 44th President of the United States. On the eve of his inauguration he warned that the recession in the United States could drag on for years unless the country agreed to pump record amounts of cash into the economy. Read more »

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How to Save in a Recession

Everywhere you look there is talk of us being in a recession or about to go into one. Even the experts cannot agree if we are there or not. But what does this mean and more importantly what should we do about it?

The dictionary definition for this is a period of reduced economic activity or more technically, the economy has to shrink over two successive quarters. Read more »

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Is the Pound going to decide your 2009 holiday destination?

According to ABTA, it is!

Sterling fell by more than 30% against the euro and the US dollar last year. Traditionally, Spain is the most popular destination for British tourists with around 12 million holidays taken there each year. Around seven million holidays are taken in France with more than two million in the US and Italy. It will be interesting to see the figures for 2009, but they are unlikely to increase. If so, where will the potential ‘winners’ be for picking up those of us who don’t stay in the UK? Read more »

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Pay Day Loans - The Beginning of the End?

Recently the shadow housing minister, Grant Shapps commented it was ‘obscene’ that some "pay-day loan" companies charge as much as 10,000% annual interest on their loans due to a lack of competition in the home credit market. He said this allowed companies "to prey on those saddled with debt and struggling with poor credit ratings". Read more »

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Four Rate Cuts in a Row, But How Can it Help Joe (Public)?

This week brought yet another drop in base rates, the fourth in four months and now down to 1.5%, the lowest level ever in the Bank of England’s 315 year history.

All headline making material, but is it likely to help Joe Public?

UK consumers owe around £1,500bn in mortgages and other debts. However, their savings only amount to around £1,000bn, a difference of £500bn. In theory therefore, interest rate cuts should make Joe better off. Read more »