Money Saving News for December 2008
- Savings come high up list of new year priorities - 30th December, 2008
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Alliance & Leicester has conducted a survey of the most popular New Year's resolutions for 2009 which has found that saving more money and cutting down on spending are near the top.
While people in the UK still claim that losing weight and taking more exercise are the most popular New Year's resolutions, over one-quarter of Brits say they will resolve to cut down on spending and 25 per cent say they want to save more money... - Brits switch pounds between credit cards - 30th December, 2008
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Millions of people in the UK are expected to pile the pounds onto their balance transfer credit cards in an effort to get their finances in shape at the start of the new year.
According to research by Abbey, more than three million Brits are expected to shift more than £7 billion between credit cards in the first few months of 2009, in order to take advantage of introductory balance transfer periods.
Callum Gibson, head of credit cards at Abbey, said: "The New Year is an ideal time for people to review their finances.
"By transferring a credit card balance to a card with a zero per cent introductory offer, consumers can ensure they are managing their finances as effectively as possible."
Recent research by price comparison site Gocompare.com revealed that sorting out personal finances tops the list of New Year's resolutions in the UK... - Begin 2009 with banking bargain hunting, says Halifax - 29th December, 2008
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Many UK consumers will begin 2009 by to the January sales, but Halifax has advised them to start the year plan ahead and searching for the right financial products for them.
According to a survey by the bank, more than half of the UK's population agrees that consulting an independent financial adviser would benefit their finances, especially as the recession begins to bite... - Shoppers gather for last minute Christmas dash - 24th December, 2008
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Research by Sainsbury’s Bank has shown that just under half of UK shoppers will leave some of their festive purchasing until Christmas eve, prompting a last-minute splurge of spending today.
While 44 per cent of the overall population said they would be buying Christmas items at the last minute, the proportion of men doing last minute shopping is higher, according to Sainsbury’s Bank’s survey... - Brits 'get ready to rush January sale' - 24th December, 2008
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Halifax has predicted that the number of shoppers taking advantage of the January sales is set to increase in 2009 compared with the start of this year.
A survey by the bank showed that two-fifths of shoppers hit the January sales this year, but nearly half the consumers in the UK are expected to be bargain hunting in January... - Savings rates will stay low next year, says analyst - 23rd December, 2008
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The rate of interest offered on savings accounts is likely to remain low next year, according to one analyst.
Laying out his predictions for 2009 Kevin Mountford, head of savings at moneysupermarket.com, said "a low base rate environment will mean less exciting headline rates on offer"
However, he added that the difference between the best interest rates on offer and the worst rates available is likely to remain significant... - East Midlands children 'save most pocket money' - 23rd December, 2008
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Children in the East Midlands may be the country's best savers as a new survey by Halifax revealed that they save more in relation to their average income than children anywhere else in the country.
Young people in the region receive an average of just £231.92 per year but have acuumulated an average savings balance of £1,038, which equates to more than four-and-a-half years of saving every penny of their pocket money... - Sorting out finances 'tops New Year's resolutions list' - 23rd December, 2008
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A survey has shown that the most popular New Year's resolution for Brits as they move into 2009 will be sorting out finances.
The poll, conducted by Gocompare.com, found that more than 20 million people plan to make New Year's resolutions this year and 60 per cent of them put their financial situation on the top of the list of things they have to change... - NatWest 'leaves couple facing bankruptcy' - 22nd December, 2008
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A married couple have been left facing bankruptcy after NatWest suddenly withdrew their mortgage, according to the consumer website Which?.
The watchdog site said that Marian and Peter Addyman, of St Leonards on Sea, East Sussex, had their £226,000 mortgage withdrawn in September, despite the fact that it had been granted just seven months before and the couple claims never to have missed a payment.
Citizens Advice, Which? and even the Addyman's MP Michael Foster have all taken up the couple’s case with the bank, but NatWest has so far refused to offer an explanation for its actions... - Norwich Union returns unclaimed cash to customers - 22nd December, 2008
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Norwich Union, a provider of cheap car insurance, has announced that it has returned £10 million in unclaimed cash to its customers.
The insurance company announced that the figure forms part of a project to return some £40 million in unclaimed assets to its 40,000 customers in the near future.
Norwich Union said that changes of address or lost policy documents could lead to people losing out on insurance dividends but that it had now contracted a dedicated tracing agency, Assets Reunited, to help solve this problem.
Cathryn Riley, chief operating officer at Norwich Union, said: "The issue of unclaimed assets affects the whole industry and it's not going to go away on its own.
"The great feedback we've received from our customers makes it clear that they appreciate the work we've undertaken."
Norwich Union is part of the Aviva insurance group...