Money Saving News for March 2009
- FairFX issues money saving tips for those travelling abroad - 23rd March, 2009
A currency exchange website has issued some money saving tips which could help Brits make significant savings when jetting off on holiday this year.
Stephen Heath, chief executive of FairFX.com, that buying foreign currency at an airport in the UK leaves tourists paying a "typical" margin of between eight and 15 per cent. Those buying currency on the high street will usually pay between five and eight per cent... - UK 'in savings account crisis' - 23rd March, 2009
Fewer people are paying money into savings accounts in the UK, leaving the country facing a "savings crisis", according to moneysupermarket.com.
The website conducted a poll which revealed that more than one-third of people have less money stashed in savings accounts in the UK than they did two years ago.
A further 24 per cent of people said they had nothing saved two years ago and still have no money set aside now... - ISA savings accounts not being utilised, says survey - 23rd March, 2009
ISA savings accounts have "lost momentum" according to a poll published recently, as many people in the UK are struggling to save any money at all.
The survey, conducted by moneysupermarket.com, reveals that only six per cent of people in the UK have saved enough over the last two years to use the full tax-free savings allowance offered by ISA savings accounts... - Abbey: Brits searching out cheap bargain deals - 23rd March, 2009
Shopping habits in the UK are changing as Brits increasingly search out the best cheap bargain deals during the credit crunch, according to a new poll.
Abbey, which conducted the survey, found that 55 per cent of people in the UK are planning to reduce the amount they spend on food this year, while 41 per cent are looking to save by cutting down their travel costs.
The study also reveals that "shabby chic" is back in vogue, as 31 per cent of respondents said they are prepared to spend Sunday morning searching through car boot sales in order to find cheap bargain deals... - Money saving tips 'help Brits' salaries go further' - 23rd March, 2009
Money saving tips and savvier spending habits have helped Brits to make their salaries go seven per cent further on average, according to a survey conducted recently.
Abbey, which carried out the poll, calculated that people in the UK are saving an average of £1,746 per year by shopping around and taking advantage of cheap bargain deals... - AXA 'is best life insurance company' - 20th March, 2009
Life insurance quote search website LifeSearch has announced that the best life insurance company in the UK in 2009 is AXA.
The website announced that the insurer the coveted prize for best service provider on Wednesday in a ceremony at the Hiscox Art Cafe... - Investors in the UK splitting assets, says survey - 20th March, 2009
Fairinvestment.co.uk has conducted research which reveals that more than half of investors in the UK are now splitting their investments in an attempt to minimise risk.
According to a survey conducted by the investment advice website, 57 per cent of Brits with savings have split their investments.
The poll revealed that 25 per cent of savers have split their deposits in two, 13 per cent have split them three ways and eight per cent have divided them between four separate products.
Sharon Bratley, chartered financial planner for Fairinvestment.co.uk, said: "Investing in different types of assets, for example, equities, corporate bonds or gilts, property and cash can diversify investments and reduce the level of risk overall."
Diversifying investments by paying money into products such as stocks and shares ISAs, unit trusts and cash ISA savings accounts with different providers helps minimise the risk of losing out if providers collapse... - Credit Action: Stocks and shares ISAs becoming popular - 20th March, 2009
Stocks and shares ISAs are increasingly being sought as a long-term savings option, according to the UK's national debt management charity, Credit Action.
Chris Tapp, the director of the charity, said that while many cash savings accounts in the UK offer poor rates of interest at the moment, stocks and shares ISAs provide "reasonable" rates of return... - Money off gift vouchers 'becoming more popular' - 20th March, 2009
Money off vouchers are becoming increasingly popular with people in the UK according to the Sunday Mirror.
The newspaper estimated that online gift vouchers and other redeemable coupons are saving Brits a total of around £600 million per year and reported that money off gift vouchers could potentially save the average household up to £500 per year.
As people in the UK become increasingly strapped for cash because of the credit crunch, a culture of swapping money saving tips and vouchers has developed, the paper reported.
Brad Liebmann, boss of money off gift voucher website BView, said: "People who never admitted using vouchers are now bragging to their friends about how much they've saved."
"Now, as well as discussing what they watched on TV last night, people are swapping money-saving ideas when they arrive at work."
Recently, the Telegraph claimed that many people will be using money off coupons to help make mothers' day cheaper this Sunday... - Nationwide calls for money saving credit cards - 19th March, 2009
Nationwide has called upon the government to follow the lead of the US by passing a law which could help reduce credit card charges for many customers.
Currently, balance transfer credit card providers pay off customers' cheapest debt first each month, leaving the most expensive debts - such as purchases and cash advances - to accrue extra interest...