Airlines dragging their feet over ash cloud insurance payout

The Icelandic volcanic ash cloud that swept across UK airspace earlier this year caused havoc for many travellers, leaving many stranded abroad and many others unable to set off on their travels. UK airspace had to be closed towards the end of April this year for around a week, and many people that were stranded abroad had to pay for food, accommodation, and to contact people at home.

Thousands of travellers had to put in claims as a result of the chaos and the money that they had to pay out to stay abroad until UK airspace was opened again. However, it has emerged that eight months later many are still waiting for their claims to be sorted out, with some airlines dragging their feet over payment on claims.

A number of unscrupulous practices are said to be going on amongst some airlines, which includes capping payouts to consumers, only paying a fraction of the amount being claimed by consumers, delaying claims until early next year or beyond in some cases, making consumers contact foreign compensation schemes and pay for translators, failing to respond to emails forcing consumers to contact them via expensive phone numbers.

Industry official have expressed concern that many consumers with travel insurance who were trying to claim for the disaster are being directed to foreign complaints bodies that do not provide translation services.

One official said: ‘This has meant travellers have had to pay for translators to get their complaint put in to the local language. They would not have to do this if the airlines just met their obligations. For example, they cannot limit claims, and we have seen that happening. We are in constant discussions with the airlines about their responsibilities.’

Tags: Financial services, phone numbers, food, translation services, Volcanic ash

Keeping friends and family entertained on the cheap

Christmas is fast approaching and after a particularly difficult year in terms of finances many of us are dreading the extortionate costs that tend to come with the festive season. Read more

Tags: christmas, example, little forward, food, cooking, thing

Reduce the cost of the Christmas food shop

The cost of Christmas can be high enough at the best of times, with households forking out for things like gifts and going out. However, the cost of food also adds to the financial burden over the festive season, and for bigger families in particular the amount being spent on food can quickly spiral out of control. With the cost of food having increased the situation will be even worse this year, and many families can ill afford to spend the amount that they will end up paying for food for Christmas.

There are some ways, however, in which consumers can try and reduce the amount that they spend on Christmas food, and in the current climate every bit helps, so it is worth making the effort now to reduce the cost of food shopping. One thing to remember is that a lot of the food people tend to buy for the festive season is not short life stuff – much of it can be frozen, such as party foods and buffet items, turkeys, ready made roasters, and frozen vegetables.

With this in mind it is a good idea to start looking out for special offers on the food items that you will need for Christmas now rather than leaving it until the last minute. By taking advantage of special deals as you see them, such as half price deals or two for one deals, you could dramatically reduce the amount that you spend on food overall for the festive season. It also means that you won’t have to worry about finding the money all at once to buy your Christmas food because you can buy it gradually between now and Christmas.

Another thing to consider is where you buy your food, as this can make a big difference to the amount that you spend. Many discount supermarkets that have sprung up over the past couple of years offer some good deals on many food items, and although most do not have the same special deals such as two for one deals on items the initial cost of the products is often considerably cheaper. When it comes to veggies for Christmas consider going to a market rather than buying from supermarkets if you want fresh vegetables, as this can often be cheaper as well as fresher.

Finally, resist the temptation to buy too much food for the Christmas period. Many people tend to forget that shops and supermarkets are only shut for one day, and they start stocking up for no reason with food that often ends up going to waste. Just buy what you need for the big day, and you can then determine whether you need to do another shop afterwards depending on what you have left.

Tags: short life stuff, frozen vegetables, The cost, discount supermarkets, food can, food, last minute

Broken rung on the property ladder

A new report has shown that the UK’s property ladder has a serious broken rung, which is namely the first rung that so many first time buyers are anxious to get their foot onto. A new report entitled ‘Broken Ladder’ has been released by the Home Builders’ Federation, and its contents show just how serious a problem it has become for potential first time buyers to realise their dreams of homeownership.

Shockingly the report suggests that in the current climate someone looking to get onto the property ladder would have to spend every penny of their income saving for two years simply to raise the deposit that most lenders were demanding, and in London this figure increased to three years. This would mean having no money for rent, food, clothes, or living expenses.

Over a five year period first time buyers would still have to save 50 percent of their income to put aside towards a deposit in order to raise the amount that lenders wanted, and again this would be even higher in areas such as London. The Home Builders’ Federation has said that the situation has now become critical at a time when the property market is already in turmoil.

A spokesperson for the Home Builders’ Federation said: “These figures reveal the extent of our housing crisis. First-time buyers – the life-blood of the housing market – are almost entirely shut out. The lack of mortgage availability is further strangling a market already choking on a lack of supply. We desperately need an increase in lending and a properly functioning and sustainable mortgage market. At the same time, the Government must ensure that the new planning policy and incentives they are basing the success of their housing plans on are put in place immediately. Without more houses and more mortgages, young families will be unable to have the security of a roof over their heads and the housing crisis will very quickly reach the point of no return.”

 

Tags: food, young families, incentives, Home Builders, Real estate economics, situation, income, realise

Out of date food savings consumers money

With many households still reeling from the financial impact of the credit crunch and the recession in the UK many are still looking for ways to reduce their outgoings. Read more

Tags: demand, food, date items, Grocery store, Food industry, service, supermarket

Cash strapped shoppers turn to out of date goods

According to a recent report many shoppers who are struggling to make ends meet financially are trying to save money by going to websites that offer out of date food on the cheap. Many people are now looking to bag a bargain by buying food that has passed its official sell by date and is available for a fraction of the normal price. Read more

Tags: out of date food, Grocery store, official, Shelf life, food, date food

Pensioners losing most of their income from savings

For many pensioners having their life savings in a higher interest savings account has become an effective way to boost their pensions with additional income over recent years, with many enjoying a substantial boost to their pensions because of the monthly income they earned from the interest on their savings. Read more

Tags: savings, pensioners, current interest rates, recent years, chunk, Pension, base rate, food

High street to suffer as consumers try and save money

Although Christmas is just around the corner many High Street retailers are not getting too excited about the flurry of activity and more importantly the huge profits that will come rolling in, namely because this is something that is unlikely to happen this year. After a particularly gruelling year in terms of finances, with soaring living costs, rocketing bills, and sky high borrowing costs to deal with, many consumers are desperate to try and put some money aside, and to do this many will have to cut back on the cost of Christmas, and reduce the amount of money that they spend on presents, food, going out, clothes, and entertainment. Read more

Tags: name, Christmas spending, base rate, food, run, Electronic commerce, bank of england, year

Drivers breathe sigh of relief over petrol prices

Over the past six months things have become more and more difficult financially for households in the UK, with a range of soaring costs making it harder and harder to make ends meet. Amongst the rising costs that consumers have had to put up with are rising energy bills, soaring food prices, and rocketing petrol prices. However, there is a little bit of good news on the horizon for drivers, and this is that petrol prices are at last starting to come down. Read more

Tags: food, relief, past year, bit, petrol prices

UK facing worst economic crisis in six decades

In a very stark and frank interview with a national newspaper Alistair Darling, the Chancellor of the Exchequer, has stated that the UK is facing its worst economic crisis in six decades. The chancellor insisted that he had to be straight with the public because it was his duty to do so, and he warned that the economic downturn was set to be far more damaging and long lasting than had originally been predicted – mirroring earlier opinions from a number of trade and industry groups. Read more

Tags: food, Chancellor level, earlier opinions, Trotskyists, economy, state, The chancellor, crisis

Holidays still important to Brits

According to a recent report holidays are still important to Brits despite the fact that the global credit crunch has impacted heavily on household finances. In fact, the report suggests that many people would actually rather cut back on every day goods and luxuries than have to give up their yearly holiday, even though many are suffering from really strained household finances. Read more

Tags: way, holidays, conscious travellers, repercussions, arrangement fees, Household, smoking, food

Gas bills set to rocket

According to a recent warning from energyhelpline.com gas bills are set to soar over the coming months for UK families, with annual bills set to rocket from an average of £600 a year to £1000 a year. Gas and electricity prices soared earlier this year after wholesale energy prices went up, so families have already been hit hard by energy bill hikes, in addition to rises in the cost of food, petrol, and other bills such as water and council tax. However, officials warn that things are set to get much worse.
Read more

Tags: Wholesale, gas bills, petrol, electricity, course, food, average electricity bill, energy

Inflation hikes are making life “tougher”

With inflation rising higher this week than analysts predicted it would, an expert has said that the situation is making life “tougher” for many people.

According to Ann Robinson, director of consumer policy at uSwitch.com, some consumers have seen their food, energy and other essential bills increase by 20 per cent over the past year.

Ms Robinson commented that many people are feeling the pinch as living costs continue to rise yet salary increases lag behind.

“We are working harder than ever before but we are not getting any richer.”

Ms Robinson warned: “With inflation misery set to continue this summer, this is a difficult time for consumers.”

Earlier this week inflation went over three per cent and Ms Robinson advised consumers to carefully review their household budgets and try to make savings wherever possible.

She pointed out that people could save an average of £1,500 on essentials by doing so.

Tags: time, consumer, inflation, essential bills increase, food

People using credit to ‘patch holes in their budgets’

With financial conditions worsening under the current credit crunch, people are increasingly turning to credit to make up any shortfalls in their budgets, Fool.co.uk has said.

David Kuo, head of personal finance at Fool.co.uk, also said that credit fraud is likely to increase as people struggle to cover their living expenses.

People are increasingly seeing their personal finances being stretched as they face bigger outgoings due to rising household expenses. At the same time, salaries have not risen fast enough to cover the increased costs, Mr Kuo said.

Capital Economics recently reported that average earnings growth is set to remain at just under four per cent a year while food inflation is expected to stay at six per cent over the coming months.

“Initially it just starts with [people] saving a little less money…the next step is [people] start raiding [their] savings in order to try and cover [their] outgoings. The third step is [people] have to use credit in order to try and patch up any holes in [their] budget,” commented Mr Kuo.

Tags: Simple Dollar, food, Household, budget, business, economics

Consumers need to budget more as the cost of living increases

As the cost of living increases consumers need to be more aware of ways to budget to make their cash go further, one financial expert has advised.

Because of this Norwich and Peterborough Building Society (N&P) has asked its customers to provide their tips on how to budget effectively.

Advice includes budgeting for utility bills, putting aside money for events such as Christmas into a separate account, unplugging all electrical items and ensuring they are turned off, as well as planning a weekly food menu and basing a shopping list around this.

Gary Lacey, group product manager at N&P, said it is refreshing to see that simple tips, such as changing shopping habits or saving electricity can prove the most popular.

“By adhering to just a few of the tips our customers suggested, families can save little and often, which, in the long run, could add up to a decent amount of money,” he said.

Meanwhile, further research from N&P revealed that the majority of financial decisions for a family are made as a group.

Tags: shopping habits, northern rock, Financial Services Authority, majority, Peterborough Building Society, food, utility, expert

Credit card spending hits record levels

British consumer spending on credit and debit cards hit record levels during the last quarter of 2006, reveals new research.

Findings from the Association of Payment Clearing Service (APCS) showed that out of the total £91.5 billion spent during the Christmas period – an increase on the £86.6 billion spent at the same time last year – £32.3 billion was on credit cards.

Up to £2 million of this figure was spent on food and drink during December 2007, a rise of 25 per cent compared with the same period last year.

Chris Tapp, of Credit Action, a debt charity, said that as the financial squeeze on household budgets is tightened many people may start to use their credit cards to pay for shopping.

He said that, despite retailers’ sales figures being down, credit card spending has increased.

Speaking to the London Stock Exchange, he said: “This is not good news. People using their credit cards to meet their monthly bills is the first sign of a spiral of debt trouble.”

Meanwhile, Nationwide has been voted the UK’s most responsible credit card provider.

Tags: service, food, research findings, increase, record, debit, credit, consumer

Holidaymakers – accommodation top gripe

Holidaying Brits are more likely to complain about their accommodation than anything else.

New research by Halifax Travel Insurance shows that 82 per cent of complaints from Brits abroad concern accommodation.

Holiday reps across Europe were asked to disclose what the most common complaints are and following accommodation, noise pollution was the next most popular.

This was followed by problems concerning nearby building work, complaints about the quality of food and gripes with organised excursions.

The research also highlighted that many holidaymakers are unsure of what to do if they are the victim of theft while abroad.

According to the reps, 20 per cent of British tourists do not know that a police report is needed before an insurance claim can be made.

Shockingly, 3.5 million Brits in the last five years have failed to obtain a report following a theft and £1.5 billion worth of items were not properly covered.

“Halifax Travel Insurance would advise all holidaymakers to research their destination thoroughly before travelling, completing the appropriate medical forms and establishing what to do if they become a victim of crime,” said Paul Birkhead, underwriting manager at the insurance firm.

“It is important when holidaymakers take out insurance that they read the terms and conditions carefully, so they know the correct procedure for making a claim.”

Tags: procedure, Holidaying, PRWEB, Types of insurance, insurance policy, GBP, food, finance