Archive: MoneySavingExpert's Money Tips Email

Council tax bands last valued 20 YEARS ago
400,000 homes still may be in wrong band from 1 April 1991 - check, challenge & get £1,000s back!

On 1 Apr 1991 in panicked preparation for the new council tax system after the poll tax riots, the then Tory government needed every house valued. It called estate agents and valuers, paired 'em up, gave 'em clipboards and had 'em drive down streets allocating bands to houses. These became known as second gear valuations as some never even stopped their cars.

• In the wrong band? This stop-gap valuation has never been redone and STILL dictates what homes in England & Scotland pay (in Wales there's been a revaluation). The mess means many pay more than neighbours in identical homes. If that's you, you're owed.
• Check 'n' challenge: First, check if you're in a higher band (A is lowest, H highest) than neighbours in identical, or as similar as possible, properties - just pop the addresses in the govt's VOA website (SAA in Scotland). Next, value your house in 1991 - the link takes you to our special calculator. Never challenge without doing both checks, as bands can go up as well as down.
• "I've been dropped from band C to B and got £1,928 back": Thousands have succeeded, not just in getting bands lowered, but also backdated payouts since they moved in. MoneySaver Avril's went right back to the 1993 council tax launch: "They informed me that, from April 1993, the banding on my house has been amended from C to B. I've received 17 annual statements setting out the overpayments which amount to £1927.73."

Everyone should try it. Yet be careful, by far the best plan is to read the full pros and cons. Step-by-Step Guide & Video Help: Council Tax Rebanding Related: Free Remortgage Guide, Free House Price Valuations

Free Money Mantras card
Print it and pop it in your wallet - to stop you spending when you shouldn't!

Martin's Money Mantras are at the top of this email every week. Many people swear by them (some at them), and have requested credit card-sized versions, so here they are ...

• Free wallet-sized Money Mantras card. We've designed a small double-sided Martin's Money Mantras print out. One side's for if you're skint, the other if you're not skint. Flip it over depending on your circumstances, then check EVERY time you shop to see if you really should spend your cash. Read Martin's Mantras Blog for the rationale behind them.
• Stop spending! The first law of MoneySaving is to cut bills without cutting back (see Money Makeover guide), yet sometimes you need to go a step further and actually crack down on spending - check out this mammoth compendium of Stop Spending Tips and try the frightening but fun Demotivator tool.
• Other MSE Freebies. This new mantras card joins the free no cold callers sign (energy sales people MUST obey), the wallet-sized consumer rights guide, the pocket travel guide and the free MSE car sticker (send a SAE).
  

For me (Martin) sheer MoneySaving poetry was the time I got to take money from Egg's 0% credit card and save it in Egg's own 6% savings, making it pay interest on money it'd lent me for nowt. That's what stoozing is. The credit crunch mostly killed it, but now making free cash from credit cards is back. WARNING! It's only for the DEBT-FREE, well-organised and financially savvy.

• How to stooze. Get the longest no-fee, new customer 0% for spending deal. Do all your normal daily spending on it (don't be tempted to spend extra), repay just the minimum. As your wages go unspent, save them at the highest easy access rate possible.

• Top card: 15 mths 0% on spending + rewards. Marks & Spencer's has the longest 0% spending card EVER (15 mths, then 15.9% representative APR) plus it pays 50p of M&S vouchers per £100 spent. For extra stoozing, Tesco's* card is 13 mths 0% plus 25 Clubcard points per £100 spent (16.9% rep APR). See Top 0% Spending cards.

• Top easy access savings 3%+. Tax-free Cash ISAs at up to 3.3% win (see above). If you've already used yours, top normal savings are Santander's* 3% AER, & Nationwide's* (min £1,000) higher 3.05%, but only allows one annual penalty-free withdrawal. With both, the rate plummets after a year, so diarise to ditch & switch then. See Top Savings

• Now rake in the cash. With £6,000 credit limit on an M&S card, filled within six months, including rewards and top interest you'd be £200 up by the time the 0% ends. At which point ensure you either FULLY repay it with the savings, or do a 0% Balance Transfer to keep the stooze going (though incorporate any fee).

If you're new to stoozing, be wary and please ensure you read the FULL Updated Guide: Stooze For Profit (and Official APR examples). Related: You can also profit with the top Cashback Credit Cards

New! EMA replacement - lots more funds if you know where to look
Unlock hidden grants & scholarships! Cash for summer schools, colleges, degrees and more
The Govt revealed proposals to replace the over 16s Educational Maintenance Allowance (EMA) this week, but the budget's just £180m (was £560m). Only 12,000 students will get direct cash, but others can apply for travel, equipment and book help via their school/college. Yet, as our Education and Scholarships Grants guide shows, there's other cash out there if you know where to look ...

• Hidden student grants searches: Eligibility is often less about academic ability and more about religion, geographic location, parental occupation or even which pub's near your home.
• Free part-time degrees: If you want to study part time including OU home study, and you earn under £28,000, a grant scheme means you could get it for free including cash towards living costs.
• Free summer courses for 8-25s: In London, 100s of courses and activities are free during the summer incl animation, animal care and aqua extreme. Plus, virtually every college offers free courses for adults of any age wanting to improve their maths, English and IT skills.
  

FULL info and more in the Guide: Education Grants Related: Childcare Costs Help, Energy Grant Grabbing, Student Loans

Urgent! Lock-in Direct Line car & home insurance discounts
Ends Thurs! Its current promotions are disappearing - yet get quotes now and they last 90 days

On 31 Mar, Direct Line, one of the big providers comparison sites DON'T include, is scheduled to end its insurance promotions. Yet crucially, quotes are valid 90 days after you get them. So grab a quote now, if it then launches a better one ditch it, if not you've bagged the cheaper price.

• Direct Line promos that are ending. For car insurance, its current deal is 12mths for the price of 10 (link: Direct Line car*), for home insurance it's up to 45% off contents and / or buildings insurance plus a renewal beater promise (link Direct Line home*).
• First Direct car ins renewal beater ending. 31 March is also the last scheduled day of First Direct's 'we'll beat your renewal by 10%', though there are caveats and feedback's mixed (quote valid 30 days).
• Don't think we're saying these are cheapest! That's NOT the message; it's just 'get a quote now in case they are'. Never just go to one insurer, always combine comparisons in the correct order. Car Insurance: MoneySupermarket* and GoCompare* then add Aviva* as a big one that's missed. Home Insurance: If possible, try all GoCompare*, Moneysup*, CompareTM* and Confused* then again add Aviva*.

Full guides including how to check for £100s in cashback see the Updated Guides: Cheap Car Insurance (and Young Drivers Car Insurance) and Cheap Home Insurance Related Insurance Guides: Van, Bike

Ends Thurs! Get £50 to switch bank account
Switch to Halifax Rewards get £50 bonus plus it pays you £5 per month
Banks are desperate to flog you a current account, as they then use these as leverage to flog you other stuff (ignore them). Which is top for you depends on whether you're in credit or overdrawn, and how much you earn.

• Ends Thurs! Halifax £50 bonus. The Halifax Reward account pays you £5 each month if you earn £14,700+ and pay your salary in. Switch before 31 March via Moneysupermarket* and you get an extra £50 bonus (30 days after switching) - once gone, Halifax claims it isn't coming back for a while. Warning! Avoid this account like the plague if you ever go overdrawn as its overdraft charges can be huge. 83% vote it OK or good for customer service (2nd worst).
• £100 bonus, 5% in-credit and 0% overdraft? If you ever go overdrawn, or prefer a bigger up-front bonus, Santander's* Preferred current account gives £100 for switching to it, pays 5% interest on the first £2,500 (in year one, then 1%), plus an interest-free year's overdraft. Yet it's bottom of the customer service poll with only 59% voting it OK or good, so it's a trade-off.
• £100 plus top service If you earn over £23,500 First Direct's* 1st account pays a £100 bonus, has a 0% overdraft on the first £250, and is overwhelmingly top for customer service with 91% voting it good!
  

For FULL details, pros and cons see the updated Guide: Best Bank Accounts Related: Basic Bank Accounts, Bank Charges