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: thing, Gift, example, food, christmas, little forward, cooking
Parents should invest in fund for their children
January 10, 2008 by admin
Filed under News, News-Banking
Parents should consider their child’s future by investing their money into a deposit-based Child Trust Fund (CTF) claim financial experts. 
Fair Investment Company suggested the savings option as an alternative to buying presents and gifts as figures from MoneyExpert predicts that relatives have given children in the UK £2.4 billion this Christmas.
James Caldwell, Fair Investment director, said: “Deposit-based Child Trust Funds could be a good way of investing money that might otherwise be frittered away.”
“Your children are likely to thank you when they hit 18 and find they have a substantial nest-egg waiting for them,” he adds.
According to the body, all children born on or after September 30th, 2002, and in receipt of child benefit are eligible for a CTF and £1,200 can be paid into the account tax-free each year.
The Fair Investment Company has recommended that consumers should ensure their home contents are covered by insurance after figures from MoneyExpert revealed that £384 is the average spend on presents at Christmas.
Christmas credit card shoppers urged ’spend sensibly’
December 4, 2007 by admin
Filed under News, News-Credit-Cards
Shoppers using their credit cards to fund purchases over the festive season are advised to be cautious.
Samantha Owens, head of personal finance at Moneyfacts said that consumers should consider taking out a nought per cent purchase card if they do not have the means to pay of their balance straight away.
Meanwhile, she said, shoppers should avoid withdrawing cash on their credit cards as this will make them subject to hefty rates, adding that buying gift vouchers can sometimes count as a cash withdrawal.
“People should check with their credit card provider, because there aren’t any hard and fast rules about what is considered cash. Foreign currency, gambling and gift vouchers, some [lenders] do consider to be cash.”
She continued, saying that if shopping online and using a card, transactions will always be regarded as purchases.
Earlier this month Moneyfacts revealed that there had be 125 increases on various credit card rates and fees, with 69 cards increasing fees for cash withdrawals.
Shopping around for credit card deals ‘vital’
December 1, 2007 by admin
Filed under News, News-Credit-Cards
Consumers are advised that carefully considering their options is extremely important when it comes to credit card deals.
With pressure being felt on the UK economy after the credit crisis, it is “more important than ever that people should shop around”, according to Cathy Neal, senior researcher for Which?
“Even if you’ve got the best credit card today, keep checking it every two months to make sure that it still is one of the best – and switch if your card has changed significantly since you took it out,” she advised.
Shoppers would be best using their credit cards on higher cost purchases as they will have better protection, although they must also take into consideration how they are going to repay their balance, she continued.
This Christmas, 76 per cent of Brits plan to spend around the same amount or more on their gift purchases than they did last year, with average spending at £397 per person in 2006.
Meanwhile, 29 per cent confess that their financial situation is tighter this year owing to the credit squeeze.
Financial prudence advised over Christmas
November 21, 2007 by admin
Filed under News, News-Banking
Consumers are warned that they must be in control of their finances over Christmas this year.
The Consumer Credit Counselling Service (CSSS) has said that following the global credit crunch, Brits must be more prudent than ever in keeping their under control.
James Ketchell, a spokesperson for the CSSS, explained that Christmas could end up being the “tipping point which pushes people over the edge”.
“People will have to be a lot more careful in their spending than they have been in the past perhaps, and really look at the cost of all the expenses at Christmas…They will have to live within their means,” he continued.
Meanwhile, small loans, which many consumers use to finance the festive season, are set to have increased rates this year, with the average reaching into double figures.
Furthermore, the number of rejections for loan applications has gone up substantially, with moneyexpert.com finding that 1.91 million people had their applications rejected in the six months to the end of September.
