Credit card debt can be a scary thing, even for those of us who supposedly should know what we’re doing with our finances. In The Debts That Wouldn’t Die, The Fool gives a few scenarios of how long it can take to pay off a credit card debt if you’re only paying the minimum amount: […]
Category: Featured
Do You Believe These 50 Money Myths?
The Telegraph recently published a fantastic article dispelling 50 (yes, count them, 50!) myths about money. It’s quite a long read, but it’s well worth taking the time, as there is some brilliant advice. If you can’t be bothered to read it, here’s a run down of some of the most interesting points, with my […]
Student Finance: Best Student Bank Accounts
Comparing student bank accounts isn’t that easy – but take a look at the MoneyFacts best buy table, and you’ll see that the top two accounts offered on their are the Royal Bank of Scotland and Halifax student accounts. Both of these accounts offer 2% interest if you are in credit, but possibly more importantly, […]
Student Finance: New Series
As we’re approaching the start of the new academic year, I’m starting a series of posts looking at the thorny subject of student finance. Studies suggest that this year’s freshers will owe £21,000 on average by the time they graduate, so it’s becoming more and more important that students, and their parents, are thinking about […]
Are You Getting Caught By These Credit Card Tricks?
The consumer rights company Which? has accused credit card companies of using “ingenious methods” for creating new charges so that they can recoup some money after last year’s decision by the Office of Fair Trading to limit penalty fees to £12. To show just how “innovative” the credit card companies can be, Which? have highlighted […]
How Should We Pay For Banking?
There’s an interesting article and vote on the BBC site regarding how consumers should pay for banking services. As I mentioned in a recent post on bank charges, one of the consequences of bank charges being outlawed would be thatthe banks would try to recoup some of their money in different ways, most probably by […]
Test Your Personal Finance Knowledge
Last Saturday’s Telegraph newspaper included a personal finance quiz so that you could test your knowledge of some common finance issues. I was a little bit worried that I’d fail miserably, but thankfully I got 19/20, tripping up on question 13, about the amount of capital gains tax you are allowed each year (tax is […]
Devils Advocate: Why I Want Bank Charges Court Case To Fail
This is the first in a series of posts titled “Devils Advocate”, in which I look at a personal finance issue from a slightly different angle that I would normally. I thought it might be interesting to see whether it prompts any sort of debate. Best read with a pinch of salt. So, this reclaiming […]
Interest Rates: Now Highest For 6 Years
You’re probably aware that interest rates have risen once again, up 0.25% to 5.75%. This is the highest rates have been since March 2001. The graph below shows how rates have changed over the past 10 years: I think one of the key things to look at is the difference between the rates as they […]
How Should We Compare Credit Card Deals?
The Independent reports that the Office of Fair Trading (OFT) is going to start consulting with the credit card industry on how to make it easier for consumers to compare credit card deals. Following complaints by Which?, they’re going to try to come up with a way of taking all of the elements of a […]