A newly launched UK-based service gives cash-conscious consumers greater control over their finances, by-passing the banks with their often hefty overdraft charges and fees.
The Speed-e-card (a prepaid MasterCard) and e-bank account, gives the consumer many of the benefits of a traditional bank account and debit card – but with no interest charges or late fees – and no credit checks: The card can be used online or in shops, just like a normal credit or debit card, including abroad, meaning no more worries about having to change up Travellers Cheques. Once you have loaded funds into your speed-e-card account, you can then use the card to access this balance from either ATMs, or to make payments Online, via the free e-bank account and even set up standing orders from it, making it a viable alternative to running a traditional bank account. Because consumers can only spend the money they have on their card, they should never go overdrawn, enabling greater control over their money and no nasty overdraft fees! There is also the option to receive an SMS every time the prepaid card is used, so card-holders will know straight away if it is being used fraudulently.
Gary Miller-Cheevers from Speed-e-card says: “The Speed-e-card with its free e-bank account gives consumers greater control over their money, and the re-assurance that they will never pay charges and fees due to being overdrawn.
For savers and spenders alike, the New Year is a great time to give personal finances a workout.
Lloyds TSB has established a range of services offering advice on money management, with a wide range of financial advice, guidance and products – all designed to help make your money work harder:
Create a Budget
The best way to get finances in shape and keep them that way is to take a long hard look at incomings and outgoings and create a budget.
Aaran Brown, (30 years old) who works at a gym in a prison, and Stephanie Hampstead, a 22-year-old nursery nurse, are a prime example:
â€œWe were renting an apartment in Blyth Bridge and didnâ€™t see buying as financially friendly enough to be an option for us,â€ Aaron said.
When you apply for credit with a company, it will (with your consent) check your credit score through a credit reference agency, of which the three main ones are Experian, Equifax and Call Credit.
These companies hold your credit report, which shows how you have repaid credit in the past and lenders take it as an indication, of how you will repay credit in the future.
A poor credit history will limit your choice and usually means youâ€™ll have to borrow at higher rates, but your credit history can be improved over time.
Step aside Hyacinth Bucket. Turning stereotypes on their head, research reveals that 18-24 year olds are turning into a nation of CHAPSâ€¦thatâ€™s Cautious Hosts Against Party Stress.
Twenty-six per cent of the house-proud and overly cautious young hosts, make guests remove their shoes to safeguard their floors, almost double that of those aged 65+ (14%) who may have been expected to be the most mishap-minded.
The survey of 2,014 adults from Greenbee Home Insurance (part of the John Lewis Partnership) finds almost a quarter (23%) of 18-24 year olds, donâ€™t like entertaining at home, for fear of potential party accidents – almost three times more than those aged 65+, with just 8% worrying about damage, and more than double 55-64 year olds (10%).
Did you know you could be making money from the electricity generated by your renewable technology installation?
If you have installed, or are thinking about installing, a renewable technology, which produces electricity, such as a Solar Electricity (PV) system, you may be able to receive payment for the electricity produced.
The most common way to do this, is to sign up to a buy back scheme with an energy supplier. There are two main tariffs available to do this:
Valerie Singleton OBE, Nigel Houghton (Managing Director) and a small group of colleagues, have launched www.discount-age.co.uk, a new money saving website for all the 60-pluses in the UK.
With the UK economy on its way into recession, 60-pluses are likely to be badly hit; not only because they are living on fixed pensions, but also the drop in share prices has actually cut the value of many pensions by up to 25%.
With over 12 million people in the UK over 60, many already suffering the effects of the downturn, the new website offers a one-stop shop for this diverse and growing market, offering hundreds of ways to save money through information, advice, discounts and comment.
According to new research from Legal & General, 93% of people in Britain are making major financial cutbacks in the home, in order to survive the current economic turmoil.
At a time of market uncertainty, when UK homes have been hit by a string of major cost of living hikes, the new research suggests that the majority of British families are responding, by taking practical action to combat the financial pressures.
Legal & Generalâ€™s â€˜Changing Face of British Homes researchâ€™, points to widespread action being taken to tackle the market downturn head on, across all age groups and all regions.
The main difference between a self-build mortgage and a house purchase mortgage is that with a self-build mortgage, money is released in stages as the build progresses, rather than as a single amount.
Some lenders will lend you money to purchase land, typically 75% of the purchase price or value, which ever is lowest.
During the build you can borrow typically 75% of the cost of the value of the house as the project progresses, depending on the chosen lender.
There are two methods by which the money can be released during the build, known as arrears stage payments and advance stage payments respectively.
Legal & General’s general insurance business annual online survey, ‘Safe as Houses’, which asks people for feedback and their views on home security and safety, is now live.
The survey aims to provide an understanding of home-ownerâ€™s security and safety concerns and what, if any, precautions they are taking.
The survey is running for a month until Friday 10 October 2008 and those people who complete the survey will be entered into a draw, to win John Lewis vouchers up to the value of Â£500.