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From Money Watch - view blog entries - visit this blogMay 15, 2008 at 6:06 pm ET
OK, I’ll admit myself that I hate all of the sensational headlines about house price crashes and recession, but with the economy in a downturn, it’s worth considering what we should do should we go into recession.
From a personal point of view, over the last few months we’ve been taking a lot more care with [...] ... ( more)
From Money Watch - view blog entries - visit this blogMay 14, 2008 at 5:36 pm ET
The tax u-turn made by the Chancellor yesterday caused the expected reaction of both pleasure from those out to receive £120 back from the tax man and outrage from the 150,000 people now expected to slip into the higher rate of tax.
Despite the feel good announcements made by the Prime Minister today, focusing on schools, [...] ... ( more)
From Money Watch - view blog entries - visit this blogMay 14, 2008 at 4:53 pm ET
Food prices are rising, as are petrol, gas and electricity. So is there anything (other than houses) that has fallen in price recently?
The Times lists 10 inflation busters - items which have fallen in price this year, along with examples of the savings that can be made with each:
Mobile Phones: down 51%
Digital Cameras: down 50%
Flat [...] ... ( more)
From Money Watch - view blog entries - visit this blogMay 13, 2008 at 6:23 pm ET
I was talking yesterday about how I’m planning to work out how much driving is costing me. As I mentioned, a big part of that is working out how much I spend on petrol, so I need to work out how much I use.
This morning Lifehacker featured a new tool, FuelFrog, which promises to help [...] ... ( more)
From Money Watch - view blog entries - visit this blogMay 13, 2008 at 5:49 pm ET
Woohoo! Basic rate tax payers are to get £120 back from the tax man.
Following the government’s terrible decision to scrap the 10p tax band, they’ve decided to bribe compensate those of us who pay 22% tax by altering the tax allowance rate. The money will be paid as a £60 payment in your pay packet [...] ... ( more)
From Money Watch - view blog entries - visit this blogMay 12, 2008 at 6:19 pm ET
I’ve recently been thinking about how much I use my car (a 1.1 litre Fiat Punto), and whether it’s something I can cut down on, and in the process, save money.
One of the problems I have is that I don’t really know how much driving my car costs me. I know the fixed costs, but [...] ... ( more)
From Money Watch - view blog entries - visit this blogMay 11, 2008 at 5:50 pm ET
Earlier in the week, I was one of several people who answered Jim’s question: What Would You Do With $1 Million Dollars?
Once I’d done a mental currency conversion ($1million = £500,000 which is actually not too far out, given the current exchange rate), I figured that I would:
Pay off my mortgage (£150k)
Save £150k
Invest £150k
Spend [...] ... ( more)
From Money Watch - view blog entries - visit this blogMay 10, 2008 at 5:00 pm ET
It’s not too long until I’ll be jetting off on holiday for a couple of weeks, so I’ve begun to start thinking about my holiday reading.
I don’t normally get much chance to read, but holidays are an exception, and with two weeks of sitting in the sun to fill (I find it difficult to [...] ... ( more)
From Money Watch - view blog entries - visit this blogMay 7, 2008 at 5:10 pm ET
Moolanomy has posted an interesting little test to tell if you’re frugal or cheap.
I took the test and scored 22 points, which is described as not being frugal, but I appear to be reasonable with my spending habits, which sums me up pretty well I think. In actual fact, I think I often think frugally, [...] ... ( more)
From Money Watch - view blog entries - visit this blogMay 7, 2008 at 4:44 pm ET
If you’re wondering how we ended up with the credit crunch, following the problems with sub-prime mortgage lending in the US, then this funny set of slides might help you understand. Beware, there is some adult language, but it’s worth going through the full 40-odd images for a good chuckle.
The Sub-Prime Primer
Credit for this [...] ... ( more)
From Money Watch - view blog entries - visit this blogMay 5, 2008 at 6:14 pm ET
I recently came across the term snowflaking - a method for repaying your debts - which I’d never come across before, so I thought it, and the related snowballing method, warranted a little investigation.
To explain snowflaking we first need to understand the concept of snowballing your debts, where snowflaking stems from. Snowballing is often quoted [...] ... ( more)
From Money Watch - view blog entries - visit this blogMay 4, 2008 at 6:31 pm ET
According to eBay, the average person has £300 worth of unwanted items lying around their homes which could be sold on the site.
So if you’re feeling a little strapped for cash and you’re at a loose end this Bank Holiday, why not get up the loft, tidy out those wardrobes or sort out the garage, [...] ... ( more)
From Money Watch - view blog entries - visit this blogMay 4, 2008 at 6:13 pm ET
We’re all aware of the increasing prices of food, fuel etc., as well as the difficulty in finding low mortgage rates (despite the Bank of England base rate falling recently, we can blame the credit crunch for the tougher borrowing conditions).
One of the worries is that as these costs increase, more and more people will [...] ... ( more)
From Money Watch - view blog entries - visit this blogApril 29, 2008 at 5:31 pm ET
If you thought that the price of your gas and electricity couldn’t get any higher, then think again.
It is predicted that there will be more energy price rises this Summer and Autumn, heaping more misery on us poor consumers.
So what can you do to limit the effect of these rises?
Well, firstly, it’s worth considering a [...] ... ( more)
From Money Watch - view blog entries - visit this blogApril 26, 2008 at 3:45 am ET
Blueprint for Financial Prosperity recently wrote a post which gave a brief look at 5 different budgeting systems.
Here is a summary of the different methods mentioned, along with my own thoughts on each of them.
Envelope budgeting - not tried this one myself yet, it’s where you put an amount of money in an envelope and [...] ... ( more)
From Money Watch - view blog entries - visit this blogApril 25, 2008 at 5:18 pm ET
Last year, in How Much Tax Will I Pay?, I wrote about SimplePound’s useful Excel spreadsheet which helped calculate how much Income Tax and National Insurance you’ll pay given your monthly salary. When the tax rules changed recently, Kirsten updated the spreadsheet to reflect the abolition of the 10% basic rate of tax, amongst other [...] ... ( more)
From Money Watch - view blog entries - visit this blogApril 24, 2008 at 6:03 pm ET
MoneySavingExpert Martin Lewis has just updated his site with his latest views on the bank charge situation, and despite refund claims still being on hold until 22nd May at the earliest, he believes the time is now right to put in your claim if you haven’t already done so. The reason? The six year rule:
If [...] ... ( more)
From Money Watch - view blog entries - visit this blogApril 24, 2008 at 5:31 pm ET
Plonkee recently replied to a meme on her best financial move in college - I chimed in in her comments, but I thought it was something worth expanding on here.
I was pretty fortunate that I was in one of the last university years who did not have to pay tuition fees, plus I also received [...] ... ( more)
From Money Watch - view blog entries - visit this blogApril 24, 2008 at 4:50 pm ET
If you’ve seen today’s new you’ll likely already know that the 7 banks and 1 building society who were taken to court by the Office of Fair Trading (OFT) have lost their case.
In the long-running saga, this ruling by the courts is really only the start for the OFT - although the judge ruled that [...] ... ( more)
From Money Watch - view blog entries - visit this blogApril 22, 2008 at 5:53 pm ET
You may have noticed that today is Earth Day - “intended to inspire awareness of and appreciation for the Earth’s environment.”
Whilst I do what I can to be green, I don’t particularly go out of my way to save the planet, which is something I’m a little ashamed of.
But going green needn’t be difficult - [...] ... ( more)
From Money Watch - view blog entries - visit this blogApril 22, 2008 at 4:54 pm ET
It looks as if the long-awaited result to the bank charge court case will be annouced this Thursday, 24th April.
If you recall, last year the Office of Fair Trading (OFT) started a court case against 7 different banks and building societies, to decide whether it can claim that their charges are unlawful under unfair contractual [...] ... ( more)
From Money Watch - view blog entries - visit this blogApril 9, 2008 at 5:38 pm ET
HSBC’s offer to match the mortgage rate that their rivals borrowers are on when their deals finish might seem like an exciting offer on the surface, certainly bucking the current trend of increasing mortgage rates and reduced mortgage choice. But their “Rate Matcher” deal doesn’t come without caveats.
The first, and possibly most important, is that [...] ... ( more)
From Money Watch - view blog entries - visit this blogApril 9, 2008 at 4:30 pm ET
If you’re a fan of the “microblogging” tool Twitter, you can now keep in touch with the latest updates to Money Watch there. A link to all new posts will appear there, plus I’ll also be posting some titbits of information, thoughts and views that perhaps don’t warrant a full post here on the site, [...] ... ( more)
From Money Watch - view blog entries - visit this blogApril 6, 2008 at 3:38 pm ET
I hope you’ve had a great New Tax Year’s Day!
What makes today so special? Well, you now have a brand new ISA allowance to play with - and this year the government has generously increased the maximum amount you can pay into your ISA to a whopping £7,200, yes, that’s a massive £200 more than [...] ... ( more)
From Money Watch - view blog entries - visit this blogApril 2, 2008 at 3:04 pm ET
Been a bit quiet on the old blogging front here at Money Watch for the last couple of weeks, so here’s a little subject to get us back in the groove.
Following a design competition started back in 2005, The Royal Mint has today released the designs for the new British coins, which are due to [...] ... ( more)
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