Always spend on a credit card! Hiya, the recent demise of hamper company Farepak (more info) makes me want to re-shout a golden rule, "always spend on a credit card", providing you pay it off in full each month to avoid interest. Do this and, unlike debit cards or cash, you get Section 75 consumer protection. This means buy something (here or abroad) costing over £100, pay for any of it on the card and the credit card company is equally liable with the retailer. Thus if the shop goes bust, you can reclaim from it instead. To boost the gain some Morgan Stanley* and Amex* cards offer new cardholders 3% cashback on all spending (see Top Cashback Cards & Consumer Rights articles)
Shout from the rooftops. Most people hate credit cards as they instantly think debt, but separately they're also the best means of payment. It's time consumer logic changed; to truly take on companies and protect yourself, understanding how the system works is a must. I hope this email and the site help you do that. If so please tell everyone, and suggest they get this free e-mail via MoneySavingExpert.com/tips | |
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Free USA flight, mp3 Walkman and Amazon £15! Legally grab credit card freebies
There's a raft of new freebies being offered by credit card companies to tempt us to sign up. To trigger this gift they simply require you 'spend on the card' and don't usually set a minimum spend. Thus to legally smash and grab the freebie; sign up, buy a chocolate bar from the supermarket, get the goodies and then cancel the card! You can get a Sony Walkman mp3 player worth £45, a return flight to Russia, a £15 Amazon voucher and a return North American flight. Full details of all these, including the impact on your credit score, are in the Updated Article: Credit Card Freebies (mini-mutterings) Related Articles: Best Cashback Cards, Best Balance Transfers, Best Lend For Spend
Turn digital photos into 10" X 15" posters and get 40 free prints for £3! Get snap happy Massive repairs savings by using Council MOT centres; go quick fees rise soon. Updated Article
MOT test costs are often paltry compared to the repairs that are needed. So use MOT centres which are run by local councils for their own vehicles, but must open to the public too, and the savings can be huge, as they don't do repairs so there's less of an incentive to fail you. There's a full list of centres in the article and scores of MoneySavers report success. Yet hurry as the maximum cost of an MOT test rises on 7 November from £44 to £50 for cars and £23 to £27 for motorbikes. Updated Article: MOT Cost Cutting (mini-mutterings) Related Articles: Cheapest Roadside Recovery, Car Insurance Cost Cutting, Fuel Cost Cutting Benefit make-up palette worth £16 for the price of a £3 mag Benefit In Kind (P.S. chaps not a bad pressie!) Your average cash savings are over £5,000! Savings article re-jig. Top Rate 5.38%
Last week's site poll showed that of MoneySavers who have savings, more have over £5,000 than under it. Thus I've re-jigged the savings account article to reflect that. I now lead on Alliance & Leicester's Direct Saver* which pays 5.38% for those with more than £5,000 (though only for a place to stash cash untouched, as you don't get interest in any month you make a withdrawal) followed by Landsbanki's Icesave at 5.2% from £250 up. For more info read the Updated Article: Top Savings Accounts Also see the Poll Result. Related Articles: Where To Start With Savings, Should I Pay Off My Student Loan? STOP YOUR FRIENDS WASTING CASH! PLS SUGGEST THEY GET THIS EMAIL Act quick. Fixed rates rising rapidly - time to fix your mortgage?
Cheap fixed-rate availability is rapidly diminishing; the last 4.5% rates are ending! With fixed rates, companies sell a certain amount, then reassess the rate depending on long term interest rate predictions. Currently new fixed rate levels are up 0.2% (£200/year on a £100k loan). If you're free to get a new deal and are looking for stability, do it quick. Read the step-by-step 30 page MoneySaving guides to either Mortgages: PDF, free printed version, more info or Remortgaging: PDF, free printed version, more info (mini-mutterings) Should we stop those with mental health issues borrowing money? read my blog! |
New Top Children's Savings Account 5.15% Interest
There's a new best buy for kids' savings; Yorkshire BS's One Day account now pays a big 5.15% for young savers. It's also possible for adults to sneakily benefit from this – the first £100 interest earned yearly on money deposited by a parent is tax-free, though any above that will be taxed at their rate. This can mean £1,900 worth of tax-free savings. Updated Article: Child Savings Related Articles: Child Trust Funds, Cash ISAs, Instant Access Savings
Did you get a bottle of champagne after switching via Uswitch? If yes, great. If you haven't done it, read the Time To Switch article. If it hasn't arrived, read this The Great Free 'Online Courses' Hunt
The internet is a mine of information and can be especially useful if you want to pick up a new skill. So I thought I'd tap MoneySaver's collective knowledge to find free online courses and other learning resources. Whether it's languages, job skills or hobbies Add your ideas/read others Past Great Hunts: Tips To Cut Postage, Cheap Ways To Make Your House Safer and Wine Tart Get one free price comparison check on your mobile. Texy Saving
MONEY MORAL DILEMMA. Would you want them sacked?
Imagine a call centre operator has inadvertently given you the wrong info costing you £100. You call them to complain and they explain they're already on a final warning and will lose their job if you process your complaint to get your money back. What would you do? Enter the moral money maze The Great 'Join Up And Save' Hunt. Results
Last week I asked MoneySavers to let me know clubs and societies that offer discounts when you join. Suggestions included the Ramblers Association, the Youth Hostel Association and the Self Build Association
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Quick Chat Tips Warning! Bargains listed here tend to sell out quickly | | |
FLIGHTCHECKER SALES WATCH Amsterdam, Paris & Jersey c. £20 each way
Budget airline Thomsonfly currently has a range of destinations at under £1 each way. When you add in its taxes and charges this becomes roughly £20 in total. For a full briefing read the How To Find a Cheap Flight article or go straight to the special free FlightChecker to find the seats in seconds Fancy a bit of inspiration? Let it come from Debt-Free Wannabe Moozie!
"Too scared to work out what I owe!" was the title of the Debt-Free Wannabee discussion thread started by newbie Moozie in February. She faced up to debts totalling £18,000 then applied herself to getting them repaid, through budgeting, being a MoneySaver and reclaiming bank charges. Eight months later the debt is at £12,000 and her debt free date is Feb 08, not Feb 09 as she'd originally calculated. I love it. Debt-Free Forum: Moozie's Story Related Articles: What To Do With Problem Debts, Best Balance Transfers, Budgeting, Reclaim Unfair Bank Charges 02 customer who travels to Spain a lot? New top roaming deal. Updated Article: Roam For Less
Board of the week: Pensions, Annuities and Retirement Planning
Whether you're close to retirement or young and just starting out this board is a mine of information on all things related to retirement. Discussions include Making a will, 38 and worried and What to do to retire early. Related Articles: Pension MoneySaving, Repensioning
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Are you a journalist? Want this site's press releases? Read more On the box this week: Jeremy Vine Fri 3 Nov, Radio 2, 1pm plus catch my regular slot on LK Today (next Wed between 8.45am and 9.15am) Keep updated on appearances This week's Martin's Musings: My ignorance knows no bounds - when it comes to music!
'No, I'm not like that all the time' and 'Should we stop those with mental health issues borrowing money?' Read m'blogs (or RSS users access) POLL: WHAT TAX WOULD YOU PAY FOR A GREEN WORLD? Vote and Discuss. Last week's vote result: How big are your savings? .... It seems a quarter of MoneySavers have up to £20,000 in savings while 14% of you have nothing stashed away for a rainy day. A very lucky 1% have over £500,000 in savings! See poll results
That's it for this week, however if you're office based and on the coffee making rota have a look at this; it's caused uproar in MoneySaving towers and an onslaught of competitive tea making! Teabuddy!
I hope you save some money
Martin
*links: Any links with a * by them are affiliated. That means go via this link and a contribution may be made to MoneySavingExpert.com, which helps it stay ad-free and free to use. You shouldn't notice any difference, the links don't impact the product at all and the editorial line (the things I write) is NEVER impacted by it. If it isn't possible to get an affiliate link for the best product, nothing changes, it's still included in exactly the same way. As I believe transparency is important, I'm including the following 'un-affiliated' web-addresses for the same things: , energyhelpline.com, uswitch.com, american-express.co.uk, morganstanley.com, alliance-leicester.co.uk, mbloan.co.uk, icicibank.co.uk, amazon.co.uk. Read more about this site and how it's financed. Referring people to insurers or insurance intermediaries can in some circumstances require FSA authorisation. For this reason, Martin Lewis of Shepherd's Studios, Rockley Road, Shepherd's Bush, London W14 0DA is authorised and regulated by the Financial Services Authority. |
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