Martin's Money Tips email (can't see this properly? Read it online) |
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 | For 20 years we've educated our youth into debt when they go to uni, but never about debt. This must end, and now there's a way to MAKE THE GOVERNMENT LISTEN. We've launched a new online petition on the Govt's e-petitions site and it must consider a debate if it hits 100,000 signatures. So, if you agree, please sign it now, so we can shout loudly and get it debated soon. |  |
 Sign 'Get financial education in schools' petitionTakes 20 secs - on govt e-petition website |
This doesn't need weekly lessons, just some time put aside. If you agree, please help. Why this campaign's so important It's crucial financial education's on the curriculum because... - It's a national disgrace. In the 20 years since student loans came in, we've educated our youth into debt when they go to university, but neverabout debt. We're a financially illiterate nation, with millions caught by mis-selling, over-borrowing and being ripped off. Is our debt-imbued financial crisis any surprise? This must change.
- We need BUYERS' training to fight back. Companies spend billions on marketing & teaching staff to sell. It's time we got buyers' training. The most cost-effective start is ensuring UK kids have basic understanding of personal finance & consumer rights before leaving school.
- This won't break the bank. Some schools already do it, but the majority don't and that needs to end. Unless it's compulsory, head teachers can't prioritise it. 97% of people support this, yet no one will take up the baton.
We have one of the world's most complex consumer economies; it's time our children were taught how to thrive and survive in it. |
PS. I'm taking a break this week, so the rest of the email is in the ridiculously capable hands of the MSE team (the days of MSE being a one-man site are long gone, now there are 36 of us). |
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Please help us spread the word |
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THE ONES NOT TO MISS | 17 Aug 2011 |
Giant currency bureau Travelex has tipped us off it'll again boost online rates in three flash sales this week, after it ran a similar hugely popular promo earlier this summer. If you need currency, here's what to do. |
Cash ISAs let over-16s save £5,340 a year tax-free and should be the first port of call for savings. Many banks craftily slash rates when you're not looking, yet you've a right to transfer to boost the return. All accounts below have £85,000 savings protection per person.  New top 3.05% easy access ISA. The online Northern Rock* e-ISA pays 3.05% AER on new money and transfers, and is now top rate for both. Unusually, interest isn't scheduled to dive after a year, though keep your eye on it. Like all variable rates, it can change at the bank's whim. To get the rate, you must go via comparison site Moneysupermarket - use the link above. Go direct, and the return's worse.- Fix up to 4.65% AER. Interest rockets if you're happy to lock cash away without access. However, if other rates rise, these no longer look good, plus you'll pay hefty withdrawal penalties to move the cash. Top transfer rates: 1-yr: Barnsley* 3.2% AER. 2-yr: Post Office 3.75%. 3-yr: Post Office 4%. 4-yr: Halifax* 4.3%. 5-yr: BM Savings 4.65%.
- Don't withdraw cash to transfer. Do that and you lose the tax-free benefits. Instead, call the new provider and ask it to "transfer my ISA". Also check your provider isn't one of the few that charges a transfer-out penalty. If it does, factor that into whether you'll gain.
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Use the mobile web abroad like you do at home, even quickly checking emails or Facebook, and you'll be slapped with gargantuan charges. Viewing just 10 pages can use 1MB, costing on average £3 and some report bills of £1,000+. Our new Cheap Data Roaming guide's here to slash the cost.  Turn off 3G to avoid massive charges. Using 3G web abroad (your phone's internet connection) is what costs big. To avoid charges, turn it off in your settings (see guide for how). Use Wi-fi instead. It's often free in hotels, or find free wi-fi before you go usingJiwire, Hotspot Locations or Free Hotspot.- NEVER watch TV on your phone abroad on 3G. Watching videos, TV, streaming music and downloading big email attachments via 3G will send your bills into orbit.
- Ask for 'don't ask, don't get' discounts: 3G usage costs are falling but you can cut them further by grabbing hidden packages from your provider before you go. Eg, O2's Web Daily Europe Service slices prices to £1.50 for 15 MB (usually £45), Vodafone's Data Traveller costs £2/day for 25 MB (£25). See all network's Cheap Bundles.
- What to do if you get a 'bill shock'. If you arrive home to an incorrect mammoth bill (eg, you turned 3G off), you may be able get money back. First complain to your supplier and, if it isn't resolved after eight weeks, take one of the free independent dispute schemes. Some have reported getting a reduced bill.
Full info, plus when to try local pay-as-you-go Sim cards and how to use Kindles to beat roaming charges in the New Guide:Cheap Data Roaming Related: Mobile Roaming |
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EDF's fixed tariff - the cheapest on average - is gone, and the new cheapest fix costs typical households £40 a year more. In more energy shenanigans, Npower announced price hikes yesterday (see Npower news for details), meaning only EDF of the big six is still to raise costs. Here's what EVERYONE should do: - Fix NOW if you can't afford rises. A fix ensures your rate won't rise for a set period,
 eg, two years. Choosing one is about whether you need the surety of no more hikes. Cheaper online tariffs exist, but their prices may jump. Yet those on standard tariffs could save £100+ a year with the cheapest fixes even before price hikes come into force, and get insurance against rises. Full 'fixing FAQ' in the Cheap Gas & Elec guide.
- Speedily find your cheapest fix (and get cashback/wine). Plug your details into a comparison site and click the 'show only fixed tariffs' tab. Top Comparison: If it can switch you, Energyhelpline* pays £15 cashback per switch whether on gas, electricity or both. Dual Fuel: MoneySupermarket* pays £30 cash, Uswitch* a crate of wine, SimplySwitch* £40 cash (these deals only via above links, not direct).
- If not fixing, STICK for now. If you don't want to or can't fix (eg, on a super cheap variable tariff, so fixing's costly) hold fire and wait until all the big suppliers have raised prices to compare. Otherwise, you could just be jumping from the frying pan into the fire by moving to a provider that hikes prices even more than yours.
- Urgent. Last chance to escape British Gas lock-ins. Those switching from BG won't pay an exit fee if they inform it before the giant hikes prices tomorrow (Thur). Full info in MSE News: BG escape
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Perennial top cashback credit card (where you're paid for spending), Amex Platinum, is no longer best for many people, after the biggest overhaul of its deal for half a decade. If you're debt-free and will repay in full EVERY month to avoid interest (which'll dwarf the reward), check our rundown of new top picks.  5% intro cashback. The Capital One World Mastercard* is now the winner for most. It pays 5% cashback for first 3 mths (5p per £1, max £100). After that, it's tiered up to 1.25%. This pays the most cashback over two years if you spend under £7,000 a year, and the most in year one up to a big £12,000 spend. Fail to repay in full and it's 19.9% rep APR.- New. Amex Plat 2.5% intro cashback, 1.25% after. The old king Amex Platinum*(18.5% rep APR) has added a £25 annual fee and cut promo cashback for first three months from 5% to 2.5% (2.5p per £1). If you'll definitely spend pretty big (£7,000+ per year), this can beat Capital One long-term, but use it less than expected and the fee means you'll lose out. Good news for £10,000 a year spenders: you'll get uncapped, double cashback (2.5%) in your anniversary month, making it good for long-term value.
- Should existing Amex Plat customers switch? You have the option to move to the new deal without a credit check. Anyone still getting the 5% cashback should definitely stay put. After that, if you definitely spend at least £5,000 a year, you'll earn more by switching, even with the fee. Of course, you could also begin as a new Capital One customer, earning 5%, though you'll be credit checked.
- Big food/petrol spender? Alternatively, MBNA Amex* pays 1.5% (1.5p per £1) on all food and petrol spends, and 0.75% on everything else. Fail to repay in full and it's 18.9% representative APR.
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 £1 off yogurts, pesto & more. Download instant click 'n' print coupons, eg, £1 off Plum yogurts, £1 off Sacla pesto, 50p off Blue Dragon curry paste. Then redeem them at Tesco, Sainsbury's, Morrisons etc. See a full, updated list in the Supermarket Couponsdeals note.- Max your coupons. Even though our stores are less generous, you can still take inspiration from stateside coupon addicts. For example, look for coupons on already-discounted products, as they'll work out uber-cheap (search comparison sitemySupermarket* to identify top bargains). Draw up a coupon battle plan before hitting the store, and systematically file coupons in a concertina folder, splitting into sections such as meat or veggies.
- We want your tips and tales. We'd love to hear MoneySavers' (legal) Extreme Couponing UK tips and stories. Please tell us what you've saved on and what's been a waste, and how you grab maximum value from couponing. Add yours to the Great 'Extreme Couponing UK' Hunt.
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| Forum Hottie | Free mini Tabasco bottle. Tabasco is giving away mini hot sauce bottles. Just 'like' its Facebook page to get one by post. Forumites say it's a scorcher. See the Deals Note: Hot Bargains |
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Big & Easy Ways To Save
Quick links or click the titles for full pros, cons, alternatives & more savings |
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- Car Insurance: Use both GoCompare* and MoneySupermarket*, add Direct Line* and Aviva* that they miss then get cashback. Also see: Van, Motorbike
- 0% Balance Transfers: 0% 21 mths, 2.9% fee: Barclaycard*, plus £20 back on £2k+ transfers (17.9% rep. APR). 0% 20 mths, 3% fee: Halifax* (16.9% rep. APR). 0% 18 mths, 2.7% fee: Virgin* (18.9% rep. APR).
- Cheap Travel Insurance: Annual cover: Individuals from £17, couples from £33, over-65s £36 & more
- 0% for spending: Tesco* 0% for 15mths and earn Clubcard points (16.9% representative APR) or M&S* 15mths 0% plus 0.5% back in vouchers (15.9% rep. APR after)
- Home Insurance: Use as many as poss of GoCompare*, MoneySup*, CompareTM*, Confused* + Direct Line* andAviva* that they miss.
- Top Bank Accounts: Free £100 + £25 Amazon voucher until 28 Aug + 5% interest + 0% overdraft: Santander*. Free £125 + top cust service: First Direct*. £5 per mth: Halifax*.
- Reclaim £1,000s: Full Mortgage Fees, Council Tax, Endowments, Bank Charges, PPI guides
- Cheap Broadband: Plusnet* £6.49/mth (plus £25 connection), up to 10GB download
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 | Real Life MONEY MORAL DILEMMA:
Should my husband move abroad for a better job?
This week's MoneySaver who wants advice asks...
My husband and I are struggling to repay £14,500 debt and expecting a second baby in September. We want to return to Ireland as I've been homesick since our son was born 15 months ago. My husband's in a good job but isn't well paid. He's been offered contract work in Germany for €60 an hour, which would help us pay off our debt quickly and allow me to move home to Ireland, but our family would only be together at weekends. So we could stay together, but with little money in a place we don't want to be, or move to Ireland and Germany separately, have money but break the family apart. Enter the Money Moral Maze:Should my husband move abroad for a better job? Previous MMDs: View All Suggest: A Money Moral Dilemma |
Question Of The Week | MoneySaving Polls |
Q. I have my gas price fixed until September 2011, do you suggest I change it now or wait until September to fix again? Joan, by email. MSE Archna's A: Past fixes are likely to be much cheaper than current ones, so generally stick with them (compare to check).
Yet as you've only a short time left, the risk of waiting is today's cheapest fixes will be replaced by costlier versions. The cheapest fixes are already disappearing so you need to balance that against the £50-£80 exit penalty. |
This week's poll: Last week's poll result: The base rate's been 0.5% for 29 consecutive months, but 28% of MoneySavers still think it'll be a year to 18 months before it rises (only 2% think it'll be cut to ANOTHER record low before a rise happens). 13% thought action would be taken sooner, predicting a rise within six months. |
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| Suggest a question of the week (big general issues not personal q's pls) | See Full Results |
I'm not fit to be a UK citizen. Are you? That's all for this week, but before we go ... Martin took the UK citizenship test and scored 17 out of 24 - below the 75% pass mark. Read his blog and see how you fare: I'm not fit to be a UK citizen. Are you? We hope you save some money, Martin & the MSE team |
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Important. Please read how MoneySavingExpert.com works We think it's important you understand the strengths and limitations of this email and the site. We're a journalistic website, and aim to provide the best MoneySaving guides, tips, tools and techniques - but can't guarantee to be perfect, so do note you use the information at your own risk and we can't accept liability if things go wrong.
What you need to know - This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances - and remember we focus on rates not service.
- We don't as a general policy investigate the solvency of companies mentioned, how likely they are to go bust, but there is a risk any company can struggle and it's rarely made public until it's too late (see the section 75 guide for protection tips).
- We often link to other websites, but we can't be responsible for their content.
- Always remember anyone can post on the MSE forums, so it can be very different from our opinion.
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More about MoneySaving Expert and Martin Lewis What is MoneySavingExpert.com?
Founded in February 2003, it's now the UK's biggest consumer help website with over 6 million people getting this email and nearly 10m using the site. Its focus is simple: how to save cash and fight for financial justice on anything and everything. The site has over 30 full time staff about half of whom are editorial researching, analysing and writing to continually find ways to save money. More info: See About MSE Who is Martin Lewis? Martin set up and runs MSE, he's an ultra-focused money saving journalist and consumer campaigner. He has regular slots on Daybreak, Lorraine, Radio 2 Vine, BBC1 Watchdog, Radio 5 Consumer panel and presents ITV Tonight. He is a columnist for amongst others the Sunday Post as well as an author. More info: See Martin Lewis' biog |
What do the links with a * mean? Any links with a * by them are affiliated, which means get a product via this link and a contribution may be made to MoneySavingExpert.com, which helps it stay free to use. You shouldn't notice any difference; the links don't impact the product at all and the editorial line (the things we write) isn't changed due to it. If it isn't possible to get an affiliate link for the best product, it's still included in the same way. More info: See how this site is financed. As we believe transparency is important, we're including the following 'un-affiliated' web-addresses for content too:
Unaffiliated web-addresses for links in this email moneysupermarket.com, postoffice.co.uk, saga.co.uk, capitalone.co.uk, americanexpress.com, northernrock.co.uk,barnsley-bs.co.uk, halifax.co.uk, mysupermarket.co.uk, barclaycard.co.uk, virginmoney.com, santander-products.co.uk,interactive.firstdirect.com, natwest.com, rbs.co.uk, money.marksandspencer.com, energyhelpline.com, gocompare.com,directline.com, aviva.co.uk, comparethemarket.com, confused.com, plus.net, simplyswitch.com, uswitch.com
Financial Services Authority (FSA) Note Referring people to insurers or insurance intermediaries can in some circumstances require FSA authorisation. For this reason, Martin Lewis of Shepherd's Studios, Charecroft Way, Shepherd's Bush, London W14 0EH is authorised and regulated by the Financial Services Authority. |
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