Money Saving News for December 2008
- High street price cuts ease Christmas spending burden - 11th December, 2008
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A high street bank has published a price survey which indicates that the real cost of Christmas shopping is falling on the high street, easing the festive financial burden for cash-strapped customers.
The study, conducted by Halifax, shows that many Christmas present favourites have dropped in price, with the cost of clothes falling by six per cent on average, toys and games by five per cent and CDs by three per cent... - Men more likely to drink drive than women, survey reveals - 11th December, 2008
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A new survey published today has revealed that men are more likely to drive after drinking alcohol than women.
The poll, conducted by Diamond car insurance, found that one in ten men believed they would be able to drive safely after consuming between three and four units of alcohol - equivalent to a pint and a half of four per cent lager - compared with just one in one hundred women.
Diamond, which provides cheap car insurance aimed especially at women, also found that ladies were more likely to err on the side of caution than men, with two thirds of them saying they would only consider themselves safe to drive if they drank no alcohol at all... - Insurancewide responds to BBC expose of price comparison sites - 10th December, 2008
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Insurancewide, an insurance price comparison site, has issued a response to a BBC 2 program which exposed some of the pitfalls awaiting customers who use price comparison websites.
The site said the BBC program, entitled Price Comparison Sites: Deal or No Deal, was justified in exposing some of the shortcomings of "irresponsible" price comparison websites... - Nationwide launches new bonds - 10th December, 2008
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Nationwide has announced the launch of a range of new bonds including fixed-rate offerings.
The building society also announced new fixed-rate individual savings account (ISA) bonds and a range of new e-bonds... - Parents 'would prefer child savings contributions to presents' - 10th December, 2008
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A new survey has found that parents would prefer grandparents to make contributions to children's savings accounts this year instead of giving Christmas presents.
The poll conducted by Family Investments, said that while more than half of parents would prefer a savings account contribution, 64 per cent are too embarrassed to broach the subject with the grandparents.
Kate Baker, Head of savings and investments at Family Investments, advised that the average figure of £50 spent by grandparents on presents for each of their grandchildren might be better spent elsewhere... - Credit crunch causes customers to switch banks - 10th December, 2008
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The banking crisis caused by the credit crunch has seen an increase in the numbers of people switching their bank accounts, according to the Co-operative Bank.
Although the market for switching is traditionally stagnant, Co-op reported a 65 per cent increase in customers transferring their bank accounts to the Co-operative Bank during 2008.
The banks which have seen the biggest increases in the number of customers leaving for Co-operative are Alliance & Leicester, the Royal Bank of Scotland and Halifax... - Norwich Union issues festive crime warning - 9th December, 2008
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Norwich Union has issued a warning to its customers to check their insurance after research by the insurer found that the festive time of year is the worst for burglaries.
According to Norwich Union's data, New Year's Eve is the worst day of the year for break-ins, with houses 25 per cent more likely to be burgled than on any other day... - Brits have misconstrued ideas about health, says study - 9th December, 2008
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A new study released today reveals that many Brits think they are healthy when in fact they have low levels of fitness.
The study, conducted by Prudential, shows that while 69 per cent of Brits feel they are in a good state of health, less than half describe their fitness levels as good and just over a quarter eat their recommended daily allowance of fruit and veg... - Yorkshire Building Society launches teenage savings account - 8th December, 2008
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Yorkshire Building Society has announced the launch of a new savings account aimed at teenagers.
The new account, called Freedom, is available to people between the ages of 12 and 20 and pays a gross AER of 3.8 per cent... - AXA calculates the cost of living - 8th December, 2008
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Research by the life insurance provider AXA has revealed that an average 25-year-old will have to spend over £1.5 billion over the course of their lifetime to sustain a comfortable standard of living.
AXA, which also provides cheap car insurance, surveyed over 2,000 people and found the average annual expenditure to be £28,455.41 - significantly more than the median average salary of £24,908.
According to AXA, people can save themselves a significant sum of money every year if they take time to plan their outgoings and budget properly.
Steve Folkard, head of savings and pension policy at AXA, said: "According to Oscar Wilde, a cynic knows the price of everything and the value of nothing. We say know the price of everything and the value of planning."
Last month a survey by the pension provider Just Retirement showed that nearly a quarter of those approaching retirement age are struggling with debts accumulated over the course of their working life...