However, it was found that 70 percent have not switched current account providers in the last ten years, thereby potentially missing out on better deals.  Furthermore, the research uncovered that 74 percent are not planning to review their current accounts in the near future.

Head of Current Accounts at Santander, Helen Bierton, commented: “In this day and age it is important to look around for the best deal, to make your money stretch as far as it can.

“One way of making your money stretch further, which many people either ignore or are not aware of, is to switch your current account.  Whereas many people see how much they can save by switching their insurance for example, people don’t see the benefits of switching current account.  However, by switching current accounts you can start earning a great rate of interest which can earn you up to up to £125 in the first year”.

…………………………………………………………………………………………………………………………………………………………

Homeowners who are currently reviewing their finances – including any existing borrowing such as credit cards – could consider placing outstanding credit into one place with a secured loan.  One of many finance options available, a secured loan for consolidation could allow borrowers to replace multiple, monthly repayments with just one.  This single monthly repayment could even be lower than current outgoings, leaving borrowers with extra money each month. However, if opting for a secured loan to consolidate debt, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.

Related posts:

1. Switching could lead to a saving According to moneysupermarket.com, bill payers in the UK will utilise...
2. Saving v. debt repayment According to moneysupermarket.com, whilst savings rates are low and inflation...
3. Are you switched on? According to research conducted by Gocompare.com, 41 percent of consumers...

The price comparison site’s calculations have revealed that there is a difference of £308 between the average interest earned on savings and the average sum of interest payable on the typical credit card.  It was found that a credit card holder with an outstanding balance of £1,989, who makes minimum monthly repayments of 2.5 percent, would be repaying their debt for 22 years and 10 months.  This would reportedly mean an overall interest charge of £2,490.  In contrast, repaying an extra £20 per month would reduce the repayment period to 5 years and 7 months, and the total sum of interest repayable to £857.

Credit card expert at moneysupermarket.com, Peter Harrison, commented: “We know that times are tight for many households and some credit cardholders may just be repaying the minimum amount every month as a way of trying to minimise their outgoings. However, our calculations send a clear message to those who may also have some savings – simply by paying off a bit more every month, as little as £10 or £20, their overall interest bill and the length of time it takes to clear the balance entirely can be dramatically reduced.

“It goes without saying that if you are paying just the minimum amount on your credit cards then you should seriously review your situation. If you cannot afford to increase the minimum payment, then you should perhaps consider speaking to one of the free debt advice charities such as CCCS or Citizens Advice as they will be able to review your circumstances.

“Saving is still important and it makes sense for households to keep some money aside for a rainy day, but where savings rates are low, canny consumers can look at alternative ways to make their money work harder for them, whether this is through earning interest or reducing it elsewhere. Lenders are becoming increasingly choosy as to who they accept for a credit card so those people who are used to switching between 0 per cent cards could find themselves stuck on a relatively high APR when the interest-free period comes to an end. In this instance, it’s important to clear that balance as quick as possible.”

………………………………………………………………………………………………………………………………………………………

Homeowners who are juggling existing credit card repayments each month, let alone increased repayments, could consider taking out a secured loan to consolidate.  One of many finance options available, a secured loan for consolidation could leave borrowers with just one monthly repayment as opposed to juggling several.  Furthermore, this single monthly repayment could even be lower than the sum of current outgoings, therefore leaving borrowers with more money each month.  However, if opting for a secured loan to consolidate debt, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.

Related posts:

1. Ways to eliminate credit card debt Credit cards are an undeniable part of most people's lives....
2. Less than than ¼ of transferred credit card debt paid during 0% interest periods With less than a quarter of transferred credit card debt...
3. Clearing post Christmas debt Recent news from MyCallcredit stated that January is payback time...

It has been revealed that 48 percent of shoppers surveyed possess at least one faulty item that they wish they had taken back to be exchanged or refunded.  Furthermore, 32 percent were found to own up to five faulty items.  In relation to the gender divide, findings show that men are losing more money than women at £89 and £71 per year respectively. 

A major reason behind a failure to return faulty items is thought to be fear, with 36 percent reportedly feeling nervous when it comes to taking an unwanted item back.  It was also discovered that 40 percent feel embarrassed or intimidated.

Kevin Brennan, Consumer Minister, commented: “We want to do all we can to encourage people not to lose out financially because they don’t know their rights.

“Now is the time to brush up on your consumer rights so you can return any faulty or unwanted goods with added confidence.”

…………………………………………………………………………………………………………………………………………………………

Homeowners who are looking to re-organise their finances could consider tying up any existing debts, such as credit cards and store cards, into one manageable monthly repayment.  In addition to eliminating the juggling act, the single monthly repayment could even be lower than the sum of current outgoings.  One of many finance options available, a secured loan for consolidation could therefore leave borrowers with more money each month, which could potentially be set aside for future use.  However, if opting for a secured loan to consolidate debt, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.

Related posts:

1. Credit crunch sees millions staying at home or returning there to make savings Many may be familiar with the term ‘Baby Boomer’ but...
2. Run up to Christmas saw instalment credit spending increase by 17 percent According to the Finance & Leasing Association, consumers spent 17...
3. British holidaymakers spend £1 billion pounds on forgotten holiday essentials According to new research by Abbey Credit Cards, British holidaymakers...

The research also showed that friendship and trust seemingly grow stronger with age.  It was found that one quarter of 50 to 54 year olds are close to their neighbours compared to 44 percent of those over the age of 75.  However, the tradition of knocking and walking straight into a neighbours’ kitchen for a ‘cup of tea and a chat’ is reportedly a thing of the past.  In fact, 74 percent of those over 50 years of age say that this is far less common these days, with just seven percent leaving their doors unlocked to visitors and 33 percent always keeping their doors locked.

Saga Home Insurance also discovered that 28 percent of those over the age of 50 believe that they are experiencing an increasing number of unexpected visitors to their home.  Furthermore, those over the age of 75 reportedly receive the greatest volume of unexpected visits from business people at 17 percent compared to 11 percent of 50 to 54 year olds.

Executive chairman at Saga Group, Andrew Goodsell, said: “It is encouraging to see the bonds between neighbours remain strong, but the over 50s are wise to be cautious, especially when receiving unexpected visitors.  Always ask to see identification before allowing a salesperson into your home.  As a homeowner it is your right to refuse entry if you suspect they might be a bogus visitor.”

…………………………………………………………………………………………………………………………………………………………

Homeowners who are not satisfied with the level of security in and around their home could consider taking out a secured loan for home improvements to rectify any areas of concern.  One of many finance options available, a secured loan could be used to replace any weak windows or doors with stronger counterparts.  Additional locks could also be added to doors, along with peepholes if desired.  Furthermore, borrowers may choose to utilise the money to invest in burglar alarms and even closed circuit television.  There are a range of options available to assist in achieving peace of mind.

Related posts:

1. ‘Boomerang generation’ return to the nest According to Saga Home Insurance, 31 percent of parents over...
2. Is the grass greener in the countryside? According to Halifax Home Insurance, approximately 3.5 million people living...
3. Trick or treat trouble? According to Saga Group, some homeowners might find Halloween to...

It was found that 35 percent of young adults are turning to their parents for money to fund ‘day to day spending and living expenses’.  Additionally, it was revealed that 38 percent require the money for debt repayments, whilst 34 percent need it to purchase a property.  One in ten young adults are also reportedly using their parents’ or grandparents’ money to fund training courses in a bid to embark upon a new career.

The research showed that 82 percent of parents who have given money to their relatives have had to turn to their savings to do so, and 54 percent do not believe that they will be able to top their savings back up.  Furthermore, it was discovered that 22 percent of parents who have handed money to their children are having to reduce their day to day spending.  In addition, one in ten have had to increase their own borrowings – including mortgaging or re-mortgaging their property.  In relation to spending, 31 percent are not setting as much money aside and 12 percent have completely stopped doing so.

…………………………………………………………………………………………………………………………………………………………

Parent homeowners who are juggling their finances, perhaps due to several credit card repayments each month, could consider taking out a secured loan for consolidation.  One of many finance options available, a secured loan for consolidation could allow borrowers to tie up multiple monthly credit repayments into one place.  By taking this approach, borrowers could eliminate the juggling act whilst potentially reducing their outgoings.  However, if opting for a secured loan to consolidate existing credit, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.

Related posts:

1. Children’s house purchases funded by Bank of Mum and Dad The Department for Communities and Local Government recently stated that...
2. ‘Yuckie’ debts for many parents According to The Children’s Mutual, the cost of supporting 18...
3. Bank of Mum and Dad vs. Charity of Mum and Dad Research conducted by the Scottish Widows Bank has shown that...