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4 Easy Ways to improve the family finances
By Savings Accounts
With the UK in recession and lots of households in the UK finding it hard to manage the household budget here are 4 relatively easy ways that might help you to gain a few extra pounds each month. 1/ Savings Accounts UK interest rates are only 0.5% and a lot of savings accounts are paying far lower interest rates than this. But it is still easy to find savings rates as high as 3.15% on easy access savings accounts and over 5.00% on fixed term bonds. So if you do have savings account take a look at them and see what interest rates you are getting as banks and building societies rely on customer inertia to get away with poor rates for savers as they realise that when they reduce interest rates most savers will not move their savings account to a new supplier. If you find you are not getting anywhere near the interest rates mentioned above look to move your savings accounts to a new bank or building society and enjoy the extra interest you will achieve. 2/ Energy When was the last time you did a comparison check on your current energy suppliers charges against the competition? the difference between the cheapest and most expensive suppliers in the UK can be as much as £425 for the average UK household so by spending as little as 10 minutes online on one of the comparison sites you could find yourself £100's better off each year. 3/ Credit Cards It is estimated that 78% of households do not pay off their card balances in full each month and with typical interest rate charges of 19.9% on credit cards the interest households are paying out to their card companies is enormous. If you are one of these people think about "stoozing" this is where you transfer your outstanding balance to one of the card companies that will give you an interest free period. Currently it is possible to get as long as 16 month interest free. You will normally get charged a balance transfer fee of approx 2.98% but if you are currently paying for example 19.9% you will be better off even after this of £214 over the period for each £1,000 you transfer. So for those with balances this really is an easy way to save some money.
source http://www.carpetbagging.co.uk/compare_credit_cards.html 4/ Insurance Over recent times the comparison websites have become major players in insurance sales and they do an excellent job for the consumer, but every time you use them to buy insurance they will get paid a fee by the supplier which can be as much as £80 for say home insurance. The trick is to use the comparison websites to identify the best deals and then check on the suppliers website to see what offers they have as often you will see insurance deals that are not available via the price comparison websites. An example is a car insurance policy i recently sorted out for a friend. She got a £40 gift card by going direct and the insurance companies website shows " Offer not available on price comparison websites" So by dealing direct she made an additional £40 saving over the price comparison websites figure. |
Savings Accounts
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