Many expect to be able to survive on welfare

It has been revealed in a recent report that many people in Britain feel that they would be able to survive adequately on government welfare in the event that they lost their jobs. More than a third of Brits were found to believe that the government would provide them with adequate sums of cash if they lost their jobs, even though the amount per week comes to under £70.00. Read more

Tags: jobseeker's allowance, outgoings, unemployment benefit, Scottish, Britain, recent years

Latest energy hike provides ‘green light to switch’

With the last of the big energy suppliers announcing an increase in its premiums consumers now have the “green light to switch” providers, one financial expert has claimed.

Money advisers Which? stated that spenders ensure they have the best deal when it comes to their mobile phone tariff and this should be no different for their energy bills.

Scottish and Southern Energy announced last week that its prices for electricity customers will rise by 14.2 per cent on average.

Siobhan Parker of Which? said that this latest price increase is the “green light to switch”.

“Everyone’s feeling the post-budget pinch and making sure you’re getting the best deal for your home energy is a smart and easy way to take some of the pressure off,” she continued.

Which? said that customers should use their buying power to show they mean business, and switch to a cheaper supplier.

Meanwhile, Scottish and Southern Energy increases mean that prices for gas customers will increase by 15.8 per cent.

Home energy bills have now smashed the £1,000 per year mark for many households.

Tags: energy, Scottish, best deal, business, southern energy, Everyone, pinch

SSE raises energy tariffs for consumers

Scottish & Southern Energy (SSE), the UK’s second biggest supplier, has announced it is to join the likes of British Gas and Npower in increasing its energy and gas tariffs.

The firm has raised its tariffs by 14.2 per cent (£50) for electricity and 15.8 per cent for gas (£85) while its Dual Fuel tariff has risen by 15 per cent to £131.

According to uSwitch.com, this takes the annual fuel bill for an SSE customer to £1,006 from April 1st.

A spokesman for uSwitch.com said that the SSE should be applauded for ensuring its customers were not impacted by price increases over the winter months.

“Unfortunately, it should come as no surprise to their customers that bills are increasing as where others lead, it was sure to follow,” he said.

In January, Npower became the first of the ‘big six’ to hike costs and was soon followed by the likes of EDF and British Gas which both announced rises for utility bills in the same month.

Tags: electricity, biggest supplier, dual fuel, british gas, winter months, Scottish, big six, uswitch

Finances are taboo

Most of us are more comfortable talking about health issues with friends and loved ones than we are discussing finances.

That is according to Scottish Widows which carried out research into the subject and found that banking has become a taboo subject.

Two thirds of us apparently do not tell our family members how much we earn and only one third know how much our partners earn.

One in five admit to being uncomfortable talking about salary, savings and investments with out partners, yet we are most comfortable discussing money with our work colleagues.

Men are said to be twice as likely to reveal their salary to a work colleague as they are to their mates.

Scottish Widows’ customer and brand marketing director Mike Hoban is surprised by the trend but says that it also explains why many people’s finances are in a mess.

“As a nation, we’ve become increasingly liberal – we are happy to talk to our loved ones about sex, relationships and health problems, but despite this modern trend in honesty it seems that money is now the topic we avoid,” he said.

“It’s no surprise that the nation is under-saving and under-preparing for the future when money is clearly such an uncomfortable subject.

“If you really can’t face discussing money with people you know, it might be a good idea to seek professional financial advice,” he added.

Tags: scottish widows, hoban, investments, Scottish, family members, Widows, research, salary

Both parents forced to work

As the cost of running a home continues to grow, new research shows that millions of mothers are being forced to return to work so that they can keep up with bill payments.

Scottish Widows has revealed that 11 million households in the UK are dependent on two salaries to keep up repayments, while the average household with two children is £100,000 in debt.

That figure stands at £20,000 more than a household without children and it is forcing both mother and father to go out and work.

“This reliance on two incomes to buy and run the family home means millions of households are effectively doubling the risk of financial hardship should one of bread winners become unable to work,” said Richard Jones, Scottish Widows’ interim protection market director.

Figures from the research show that many families are struggling due to the levels of consumer debt they have, with a rise in the number of children being linked to the size of the debt.

Almost half (47 per cent) of families have a mortgage, with the debt from this rising from an average of £66,600 for a couple with no children, to £80,200 for a couple with three.

Around 63 per cent have a store or credit card, with the debt for a childless couple standing at £4,300 and growing for those with three children to £6,510.

Parents and prospective parents are advised to set up a savings fund to protect themselves and their children should their circumstances change.

Tags: bread winners, GBP, payments.scottish widows, Scottish, incomes

Burns night warning

Scots have been warned to be careful as they celebrate Burns Night.

Zurich Insurance says that a large number of claims are made following the celebrations, as partygoers become slightly over zealous and cause damage to their homes.

According to the firm, 32 per cent of Scottish parents who celebrate the night suffer domestic damage.

With the annual claim reaching more than £100, Zurich says that it is vital people take out adequate insurance to cover any mishaps.

“If people are planning to celebrate Burns Night with a party at home, it’s worth taking a few minutes to check their insurance policies – possibly even considering extending the protection for their contents to include accidental damage,” said Martin Hall from Zurich.

The firm says that stained carpets and damaged furniture are the most common casualties of such parties and it believes that people should be free to celebrate without the concern of having to pay for any damage.

“By making sure they have the right policy in place, they can let their hair down, and have a worry free Burns Night,” added Mr Hall.

Burns Night is a celebration of the poet Robert Burns, the man who wrote Auld Lang Syne.

Tags: Hall, Scottish, warning, GBP, Scottish literature, party