Archive: MoneySavingExpert's Money Tips Email

A free, independent, consumer help email from www.moneysavingexpert.com

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Yet another ISA note (sorry)

If you're fed up after my fussing, bustling, hassling and harrying you to use your 2002-2003 tax-free ISA allowance.  You're probably going to hate me for saying this, but “you've just got a whole new £7,000 ISA allowance for 2003-4,” so if you want to make sure your savings or investments are tax free - use it up.  The top paying easy access cash ISA is still Monmouthshire Building Society branch and postal account at 4.25%.  Enough said!

For a full guide to ISAs click here

For a deal on cunningly manipulating fix rate cash-ISAs click here
For a deal on the best standard mini-cash ISAs click here
 

New cheapest loan (6.7%) for borrowing under £4,000
www.smile.co.uk is offering loans between £1,500 and £4,000 for 6.7% (also available via www.moneysupermarket.co.uk).   This is a seriously cheap rate for such loans, previous best were Nationwide and Northern Rock at 7.9%.  There are some things to watch for though.  First, the rate jumps up above £4,000 and it becomes uncompetitive.  Second, the cost of insurance isn't included in the interest rate and if you want insurance it may not be cheapest - for a full explanation of how to ensure you're getting the cheapest loan click here

Cut the cost of calling mobiles from mobiles by 75%

The last money tip included a note about a cheap way to call mobiles. After thinking about it – it seemed such a good idea I decided to write a column on it.  While doing so I worked out a cunning way to get the 10p charge from calling mobile to mobile – saving you 75%.  To read the article click here. 
 

Ways to avoid the National Insurance rise

Avoiding the 1% rise isn't easy.  There's little you can do (legally). However there are a couple of thing to try to cut the cost of National Insurance.

i.          Get a pension not a pay rise.  If you pay into your company's money purchase or group pension (that's one where you just build up a pot of money), you could ask your company to pay into your pension plan the amount you would get in a pay rise.  Pension contributions from your company are National Insurance free.  However when you're paid and then put the money in yourself, while you get the tax back on contributions, you don't get the (now 11%) National Insurance.  However if the company pays it directly then there's no National Insurance to be paid by it or by you.  It's worth investigating.

ii.          Childcare vouchers:  In much the same way, some companies are starting to offer childcare vouchers, take these instead of some of your wages and they're National Insurance free – so you get more for your money.  If you've got kids ask if such vouchers are offered by your employer.

Money Saving Poll

The current vote in the Money Saving Poll on the front page of www.moneysavingexpert.com is on credit cards – good, bad, or hideously ugly.  Have your say!

That's it.  If you have any Money Saving questions, simply post it onto the site's 'Chat' Discussion Board and I will answer there.  

I hope you save some money

Martin

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