Managing credit cards

The Perfect Storm

The invention of the credit card was an inspired move by the banks. Our love affair with credit cards has transformed the way we shop and manage our finances. Whether you’re buying a holiday or a handbag, the temptation to ‘stick it on the card’ and worry about it at the end of the month, is easily done.

The very convenience of the credit card remains a big factor in getting into uncontrolled debt. Spending on a card can look dangerously like free money. Proof of this can be found in a recent report by the Bank of England, stating that banks and building societies wrote off an eye-popping 2.1 billion of credit card debt in the UK. (BBC news website)
Yet while this figure is down on the previous year’s write-off of 4.1 billion, it still represents a massive amount of people unable to pay off their debts.

So what can we do to make sure we don’t get caught out by credit card debt? Read our guide to the do’s and don’ts of using credit cards.

1) It sounds obvious, but never forget the banks are in the business of making money out of providing credit cards. With average interest rates of around 19%, a credit card debt is an expensive form of borrowing money. So first of all, ask yourself if you really need to make a purchase on a credit card. Often, you are far better off taking out a personal loan to fund a large purchase.

2) Don’t start buying things such as food items with a credit card. This leads to a cycle of debt that will be very hard to pay off. If your finances are so tight you’re using a credit card just to survive, look at ways of increasing your income, such as applying for benefits or get professional finance advice. Otherwise you are just storing up debt problems for the future.

3) Keep your credit balance low. It should be no more than 30% of your maximum personal amount. A good part of your credit score takes into account how much of your credit line you’ve used. Any more than 30% suggests a Paris Hilton approach to spending.

4) Don’t just pay the minimum amount – you should aim to pay off the entire debt every month. Otherwise, you will start to pay compound interest – which is the Rottweiler of the credit world. Compound interest, means that you pay interest on your interest, as well on the amount you have actually spent. And, of course, the higher the APR on your credit card, the higher the compound interest.
Compareandsave.com, have a very handy credit card calculator, which shows you how long it will take you to pay off your debt. Just click here.

5) Never ever miss a monthly repayment. Research by the price comparison site confused.com, found one in four (26%) credit card holders have been charged at least once in the last 12 months for missing a late payment. (Finance Markets, July 18th 2010). Not only will you be charged £12, you will also cause serious damage to your credit rating. If, like me, you have a memory like a sieve, set up a direct debt to make the payments. This way, you don’t have to try and remember to pay. Remember though, that you shouldn’t be paying only the minimum – this is just to cover yourself in case you do forget. You can always pay more when you get your statement.

6) If you have a reasonable credit rating, consider a balance transfer to a card offering a 0% APR introductory rate to clear an existing debt. But check how long you have to clear the debt, and NEVER spend anything on a credit card transfer card. The idea is to clear your debts, not accrue more. Remember, there is a fee for transferring your debt – normally 2 – 4% of the amount you owe.

7) Beware the fees. If you take cash out on a credit card, don’t pay on time, use a credit card cheque, or spend money abroad on your card, you can be charged hefty fees. Avoid at all costs.

Finally, if you have serious credit card debts, and cannot pay or transfer your existing debts, you must contact your creditors to tell them you’re having trouble paying. They may allow you to make a repayment arrangement. Alternatively, consider a personal loan (unsecured) with a lower interest rate to pay your credit cards off once and for all. Just make sure you can afford the repayments – if you have a poor credit rating, it may not be possible to borrow at a lower rate of interest than your credit cards.

Loanfinder are a leading UK independent loan brokers, finding loans for customers by matching them to lenders without charging any upfront fees. The loanfinder service is straightforward. We review everyone’s situation and search for loans across a number of different lenders (over 200 loan companies). Loanfinder are able to find the best loan on the market for the client.

To find out more or apply for a loan, simply visit our website or contact us by email at info@loanfinder.co.uk

Financing a new car

September 1st is the day that the new car registrations were released. But buying a shiny new car doesn’t come cheap. According to the Society of Motor Manufacturers and Traders, (SMMT) new car registrations fell by 13.2 % in July of this year. Yet the VAT rise in January means that if you are thinking of swapping your banger for something better, then now is the time to buy.

So, with new and used car dealers keen to attract customers, we’re taking a look at car finance, and the different options available for financing a new set of wheels.

Hire Purchase

A hire purchase agreement is normally arranged through a dealership. The buyer puts down a deposit and pays a fixed monthly installment for a period of usually three to five years.

However, you don’t legally own the car until you’ve paid back all the money you owe. This means that you can’t modify or sell it without the lender’s permission. So adding alloy wheels or go faster stripes to your new motor, is a big no no!

Your contract is with a finance company (not the retailer) who can take the car if you don’t keep up the payments. However, this means that it’s also possible to get a reasonable interest rate because the lender knows they can always repossess the car if you fail to pay. It’s also worth knowing that the car salesman is on a commission for the loan they sell you, so always haggle to get the finance repayments down. Check price comparison websites before you go, so you have some idea of the rates available. You can use this information to get the best deal when you start to negotiate. As always, remember to check the small print for hidden fees and costs such as arrangement fees.

Personal Contract Purchase

It’s a bit complicated, but a PCP is a way of borrowing money for a car, without committing to keeping it, so it’s useful if you change your vehicle regularly or are easily bored. You pay a 10 – 20% deposit, and then make monthly repayments, typically for 24 – 42 months. The repayments are lower than a HP contract because you are deferring some of the purchase cost of the car until the end of the term. When the contract ends, you can then either choose to hand the car back, or pay the slice of money you deferred to complete the purchase.

PCP contracts have fairly strict rules such as limiting your mileage, and you’re not allowed to sell the car, so you need to check the terms and conditions carefully. Some will also include maintenance of the car, but again, you will need to check.

Leasing

Basically, a leasing plan means you are renting your car, but they are becoming increasingly popular. Also known as contract hire, lease hire allows you to drive away in a brand new car and it can help you avoid the problem of your car losing value. It can also often work out to be as cheap as borrowing, once you take into account interest repayments on a loan.

For example, carleasing.uk are offering a Toyota Aygo hatchback at £147 per month inclusive of VAT for 35 months.

It’s important to note however, that lease hire will include a limit on the mileage, and a financial penalty for every mile you do over the limit. And if the car isn’t returned in good condition you will be charged. There is also a one-off initial charge for delivery, set-up costs, and commissions.

Personal Loans

There are hundreds of personal loans on the market for borrowing money for a new car, so as always, shop around for the best interest rate, or use a loan broker to help you find one. You’re not borrowing from a dealer, so you have more chance of getting a lower interest rate.

The advantage of taking out a personal loan to finance a car, is that you own the car, and so there are no restrictions on its use. The car is yours to do what you like with, and you can always sell it on.
This is Money quote a typical deal for purchasing a Ford Focus. If you put down a £3,000 deposit and borrow £12,750, monthly loan repayments with Santander are £402 over three years and £261 over five years. Tesco Bank quotes £397 and £255 per month respectively.

A word of warning

Finally, before you actually go ahead, remember that 1 in 3 cars have some sort of hidden history, such as having been stolen or a number plate change, so it’s always best to make sure the vehicle you’re buying doesn’t have some kind of gruesome history. If you’ve been unlucky enough to buy a stolen or dodgy car, it can be seized, so you could wake up one morning to see your beloved new motor being towed off by the police. To be sure you’re not buying a hot potato, the AA run a really useful data checking service for £19.99, which can find all this out for you. To go to their data check site, click here.

Loanfinder are a leading UK independent loan brokers, finding loans for customers by matching them to lenders without charging any upfront fees. The loanfinder service is straightforward. We review everyone’s situation and search for loans across a number of different lenders (over 200 loan companies). Loanfinder are able to find the best loan on the market for the client.

To find out more or apply for a loan, simply visit our website
or contact us by email at info@loanfinder.co.uk

The big climb for Julia’s House

This gallery contains 2 photos.

Raising money for the Julia’s House Hospice is an ongoing project close to our hearts here at Loanfinder, so we’re very proud and happy that our all of our team managed to raise so much for them by climbing Kilimanjaro. … Continue reading →

The cost of loans

Along with politicians and journalists, bankers have never been about to win any popularity contests. A reluctance to lend, the end of free banking, high credit card charge charges, massive overdraft fees, and all despite a tax payer bail-out, means many of us are feeling very let down.

So more bad news for the consumer, is the recent report by moneysupermarket.com, which revealed that the cost of smaller loans has increased by 135% over the last four years. In short, the squeeze on borrowers requiring a smaller amount of money means it is now more expensive to borrow under £5000 than it has been for 10 years.

Yet there is some hope. Before you give up on the idea of borrowing, there is a way round this. You can play the banks at their own game by borrowing a little more than you actually need. Unlike smaller amounts, the cost of borrowing between £5,000 and £10,000 has come down, so it can actually be cheaper to borrow a larger amount than a small one.

Moneysupermarket.com has worked out that a borrower taking out a £4,500 loan over five years, with the best rate available (13.8%), would pay £1,643 in interest over the time of the loan. But increasing the amount by just £500 means you could qualify for the far more competitive rate of 8.8% – meaning you’d pay only £1,150 in interest for the length of the loan.
What’s more, you need not pay any more in monthly repayments, and will have saved £493 in interest.
(Source: moneysupermarket)

The only drawback is that banks do reserve the best rates for their most risk free customers, and you do need to remember that not everyone is going to qualify for a market-leading rate like 7.8%. It really is down to your credit score. Although a lender has to offer the typical rate to 66% of people who successfully apply, if your credit history isn’t squeaky clean, it’s unlikely you will get a rate like that. So it’s all the more important to shop around for the best rate you can find.

You can get help with finding the best loan for you and save time by using a good loan broker, or you can try and improve your credit record before you apply for loans to maximise your chances of the best rate. As long as you haven’t got any defaults or CCJs on your credit file it shouldn’t take more than 6-18 months to clean up your rating.

To do this, you need to show that you can manage credit properly. Basically by borrowing money – spending money – and paying back the money ON TIME.

So to improve your credit rating to get the best loan rate on offer, try the following:

Pay all your bills on time (eg, mobile phone contract, mortgage, any outstanding loan repayments)

Make sure you are registered to vote on the electoral roll. This shows you have been living in one place.

Apply for a credit repair card such as Capital One. Use it to buy goods you would normally buy anyway, and MAKE SURE YOU PAY THE FULL AMOUNT OFF EVERY MONTH BEFORE THE DATE DUE.

Loanfinder are a leading UK independent loan brokers, finding loans for customers by matching them to lenders without charging any upfront fees. The loanfinder service is straightforward. We review everyone’s situation and search for loans across a number of different lenders (over 200 loan companies). Loanfinder are able to find the best loan on the market for the client.

To find out more or apply for a loan, simply visit our website or contact us by email at info@loanfinder.co.uk

Finding the best current account

Unless you keep your money stuffed under the mattress, the chances are that you use a bank account. In fact, in today’s world, it’s pretty hard to manage without one. Everything from your salary, to paying your bills generally comes in and goes out of your current account. But do you really know how much using your bank account is costing you?

A recent report by Which magazine on August 16th has confirmed that free banking is becoming a thing of the past. Low interest rates, the hidden costs of high overdraft charges, and large fees for spending on a card overseas, means it is very difficult for consumers to understand what they are really paying for their current account.

The way banks explain their charges is not about to win any Crystal Clear English awards, so it’s more important than ever to study the small print, and shop around to find the best account for you.

Being aware of the interest rates charged, and the amount of interest you’re earning, however, is only part of the decision. Deciding which bank account is best for you, very much depends on how your finances look. To get the best from a bank account, you will need to consider whether you are normally in debit or credit.

Normally In Credit

According to Uswitch, the Santander Preferred In Credit Rate account offers 5% annual interest for 12 months on balances up to 2,500, and also pays £100 cashback for opening an account with them. You need to be paying at least 1000 a month into the account. After 1 year, the annual interest rate does drop to 1%, but this is still more than most accounts pay you for being in credit!

Normally Overdrawn

If you are normally overdrawn, then you need to find an account that charges the least on an authorised overdraft. (ie, the bank have said you can go overdrawn up to a certain amount)
At the time of writing (Aug 10), moneysupermarket recommend the Santander Preferred Overdraft Rate as a best buy. You need to pay at least £1000 pcm into this account, but you’ll be charged 0% on an authorised overdraft up to £5000 for 12 months. After 12 months you will be charged 12.9%. So if for example, you are using an overdraft of £2000, it will cost you £258 per year.

Less than £1000 per month

If you are not paying more than £1000 per month into an account, then the next best buy is the
Nationwide Flex Account. You receive no in-credit interest, but they are offering 0% on authorised overdrafts for the first three months, after which they charge 18.9% for an overdraft, plus you get free overseas card use.

Overdrafts and Loans

It sounds obvious, but an overdraft is a debt. Most people tend not to think of an overdraft like this, but no bank ever gave away free money!
So with a bank charging an average overdraft interest rate of around 19%, if you need some cash, it might be worth considering taking out a loan instead.

The reason for this is that you are far more likely to get a better deal by taking out a loan than borrowing on an overdraft facility. What’s more, an unsecured personal loan is also cheaper than borrowing on a credit card, and loan repayments are fixed rates – which means you pay the same amount over a fixed time. Finding a loan with the best APR (interest rate) is crucial though. Generally speaking, the more you borrow, the lower the interest rate will be, and you can borrow up to £25,000 with a personal loan.

Before you borrow

Before you take out a loan, you’ll need to ask yourself a few questions:

What loans are available, and how much will they cost me?

Can I afford the repayments?

What is the APR?

Is there any early repayment fee? (If you decide to pay off the loan before the final payment date)

Finding the right loan

Using a loan comparison table can be helpful, but a better option might be to use a loan broker. You can, of course, do it yourself, but a loan broker takes all the work out of applying to a number of different companies.
Moreover, applying to separate companies yourself, will leave a ‘credit footprint’, meaning that the applications are recorded on your credit file, even if they are unsuccessful. Using a good loan broker doesn’t leave a credit history record, and can maximise your chances of borrowing, helping you find a loan offering the best rate for your circumstances.

For a loan comparison table, click here:

Or go to loanfinder who will search for you.

Loanfinder are a leading UK independent loan brokers, finding loans for customers by matching them to lenders without charging any upfront fees. The loanfinder service is straightforward. We review everyone’s situation and search for loans across a number of different lenders (over 200 loan companies). Loanfinder are able to find the best loan on the market for the client.

To find out more or apply for a loan, simply visit our website or contact us by email at info@loanfinder.co.uk

Happiness is a well managed Bank Account

If you are wondering why you never seem to feel in control of your finances, don’t worry because you’re not alone. A recent study by Aviva Insurance revealed that 86% of people are very concerned about money, but that it’s not money alone that buys happiness – it’s being in control of it.

I know it’s hard to believe that Cheryl Cole or David Beckham might be unhappy if they were not managing their money properly, but it seems to be true. Happiness, well being and self-esteem are all linked with how well we manage our finances, no matter how little we might have.

The report showed that 25% of people don’t even know how much they owe on their credit card, and 52% of women felt that they were confused or didn’t understand financial information. So it would seem that a good many of us are getting confused by debit, credit, and horrible sounding things like ‘fiscal drag’.
But getting on top of your financial situation doesn’t have to be that difficult. Yes, it might be boring, but taking a good hard look at your finances is the key to not being stressed about money.

Have a Plan

Everyone loves a man with a plan, but it’s even more vital that you think ahead when it comes to money. The first thing you need to do, is write down everything you earn, and everything you spend. If you find it hard to remember what you spend, keep a spending diary. It will help you keep track of how much you’re spending. You really can’t get on top of your finances until you understand how and why you spend, and what money means to you. Once you have your finances under control, you can start to think about saving.

Spending and Budgeting

People spend money for all sorts of different reasons, so it’s important to know why you are spending in the first place. Maybe you keep yourself under control and don’t splurge on expensive items, but what about the little things? A copy of Heat, a cappuccino and a muffin totals about £7, but often, we just buy them to kill time. Or perhaps you skimp on the smaller items, and splash out on a pair of killer heels instead of budgeting for the rent. The important thing is to think about why you’re spending. Is it because you really need something, or just for the feel-good factor? Buying shoes certainly feels good, but try and think how happy you’ll be when you get the credit card bill, or see your bank statement. If you don’t need it, the chances are you’re just spending for the sake of it.

Have A Goal

Remember that budgeting doesn’t have to mean you make yourself miserable. As you hold back your spending, you might start to notice that you have a bit more money left over at the end of the month. And by setting a goal, it gives you an incentive to save not spend. Your goal could be to save for a holiday, pay off a debt, or cut your food bill. It doesn’t matter what it is – if you achieve it, you’ll feel you’re making real progress, and want to do even more!

Saving

Starting to save money for a rainy day will give you a lot more peace of mind, but 35% of people have less than £500 saved, and 20% have no savings at all. So if you lose your job, you could be in real trouble . It’s recommended that you have at least 3 months salary to tide you over should you find yourself suddenly out of work. So next time you have a bit of spare cash, tuck it away and don’t spend it. You never know when you might need it!

Squirreling Away

The best way to keep on top of your finances, is to separate your spending. If you can, have different bank accounts for different things. You should always have a separate savings account, but splitting your finances into separate areas will help you budget. For example, it’s worth setting up a direct debit from the account your salary goes into, to send money into a separate account for paying your bills and rent the day after you get paid. This way, you can keep track of what you’re spending and you know that you have the important expenses covered. Anything left, you can save!

Remember that no matter how little money you have, it’s always possible to manage it sensibly. If you are in debt, and are having trouble with repayments, get help, or consider a consolidation loan. For more information on debt, click here.

Loanfinder are a leading UK independent loan brokers, finding loans for customers by matching them to lenders without charging any upfront fees. The loanfinder service is straightforward. We review everyone’s situation and search for loans across a number of different lenders (over 200 loan companies). Loanfinder are able to find the best loan on the market for the client.

To find out more or apply for a loan, simply visit our website http://www.loanfinder.co.uk/ or contact us by email at info@loanfinder.co.uk

Beating the Petrol Pump

Anyone who watches Top Gear will know that our love affair with the car is unlikely to mean that we’ll all start driving less. Boris Johnson’s free cycle hire in London may get more people on their bikes, but mostly, driving is still the preferred and most practical method of travel for most people.

As the disastrous oil spill in the Gulf of Mexico has proved, however, oil is becoming more expensive and difficult to extract. This means that apart from the terrible environmental effects of oil spills occurring, petrol prices are becoming more and more expensive. While this may make us all think twice before jumping in the car, which can only be a good thing, realistically, we do still need to get around without having to remortgage the house.

But before you invest in a horse and cart, or decide never to go anywhere (both mad solutions I will admit) a slightly easier way might be to cut your motoring costs. The average annual expenditure on motoring (excluding loan repayments for a vehicle) is now around £2,338,per year. Which is an awful lot. So finding ways to save on fuel can save you a whole lot more. Everything from weight to tyre pressure can affect fuel consumption, so it pays to make sure you’re not spending more than you need.

Jeremy Clarkson, a self-confessed petrolhead, once calculated that simply having a moustache can cost an extra £5 in fuel a year. So. To sweep aside the moustache for a moment, here are a few more tips to help you save money on fuel.

Where to buy cheaper petrol?

You have to sign up, but petrolprices.com will tell you how much fuel in your local area costs, so you can find the cheapest station. It also has loads of other really useful info and advice about motoring.

Park nicely

If you have to make difficult manoeuvres when you start your car up, you’ll use a lot more petrol because the engine is cold. So reverse into your drive or parking space when you park, so you can just get in and drive straight out when you start the car next time. And remember, if you’re rushing to work in the morning, you’ll also save time…so that’s an extra one minute of zzzzzzzzz’s!

Downsizing

Do you own a big beast of a gas guzzler? If so, you might want to think about getting something smaller and more fuel efficient. A smaller car is also easier to park! If you’re unsure what kind of car would be best, and you know how much fuel your car, or a car you’re planning to buy uses per gallon, this car costs calculator does an excellent job in working out the annual costs of running it.

Keep the weight off

If the inside of your car looks as if you’re off to a car boot sale, it might be an idea to review the things you’re driving around with. Extra weight will make a huge difference to your consumption, so think about everything you’re carrying. Even the roof rack isn’t necessary if you’re not using it. How much a nodding dog weighs I do not know, but it’s best not to have one anyway.

Slow Down!

Accelerator happy driving will cost you a lot more in petrol, so it’s worth remembering that a Lewis Hamilton driving style is best reserved for Silverstone. And that’s not to mention the speeding fines; also something Lewis doesn’t need to worry about. The average car consumes 38% more fuel at 70mph than it does over the same distance at 50mph.

At 60mph it uses 34% more than at 40mph and a driver in an average-size car travelling at 90mph on a motorway will spend about £1.20 more on fuel every eight minutes than a driver travelling at 70mph. Drive smoothly, brake and accelerate gently, and don’t tail gate the car in front – because it will cause you to use your brakes more.

And if you’re always in a rush – just remember The Tortoise and the Hare. No one knows why a hare and a tortoise decided to have a race – but it does prove that speed doesn’t necessarily mean you’ll get there any quicker. ( I think)

Take the pressure off

Tyre pressure is very important. Tyres that don’t have enough air in them, create resistance, and use more fuel. If, for example, they’re under inflated by just 20% this will result in a 3% increase in fuel consumption, which doesn’t sound much, but adds up over many miles. Always use the correct tyre pressure, and check the pressure when the tyres are cold. Try tyrepressures.com for the correct pressure for your car http://www.tyre-pressures.com/ or ask a friendly garage person for help.

No Air Conditioning

Air conditioning increases your fuel consumption by 10%, so switch it off and open the window instead. However, don’t be tempted to open the window if you are driving over 50 mph. This will also use more fuel as it creates drag. So if it’s very hot, it might be better to put your journey off. This is England, so it’s not going to happen often!

Use a SatNav

Providing it doesn’t direct you to Edinburgh from Manchester via Brighton, a satnav will help you save fuel by taking you straight there without getting lost. Or, if you’re feeling flush right now, invest in an Econav – an eco-friendly satnav that also tells you how to save fuel as you drive. It might be a nag, but it will save you money! http://www.vexia.co.uk/

Use a Cash Back Credit Card

If you have access to credit, and do a lot of driving, it’s worth using one of these to fill up – and then you’ll be rewarded for every litre of petrol you buy. Just remember to pay it off in full every month, otherwise you’ll end up paying interest.

Happy Motoring!

Loanfinder are a leading UK independent loan brokers, finding loans for customers by matching them to lenders without charging any upfront fees. The loanfinder service is straightforward. We review everyone’s situation and search for loans across a number of different lenders (over 200 loan companies). Loanfinder are able to find the best loan on the market for the client.

To find out more or apply for a loan, simply visit our website or contact us by email at info@loanfinder.co.uk

Scam Busting

In the olden days, the main way for anyone to commit crime was by either climbing through your window and running off with the silver, or robbing gold bullion from a train.
Today though, financial crime has become a lot more sophisticated, as criminals target the internet and use the phone to get hold of your personal details. Online banking fraud alone, increased to £59.7 million last year; double what is was in 2007.

Because new scams appear all the time, it’s important to know what the latest ones are. So we’ve outlined a few ways to make sure you’re aware of the most recent scams, ranging from the very simple to the particularly cunning, to help you outwit the swindlers.

Bank charge reclaiming

If you receive a phone call out of the blue offering to reclaim your bank charges for you – don’t do it. These scammers may claim they are from the Office of Fair Trading, to get you to give away your personal financial details. They then use your details to commit theft with your credit card and bank details. The OFT would never contact anyone in this way – so make sure you’re not caught out.

The Visa/Mastercard scam

This scam can seem very plausible unfortunately. You are contacted by someone claiming to be from the Security and Fraud department of Mastercard or Visa. They then ask you if you have made a particular purchase, which is normally just under £500. (which is the amount that normally alerts your bank to unusual spending) When you say no, the caller tells you that they must start a fraud investigation, and asks you to confirm your address. They will then ask you if you are in possession of your card, and ask you to read the security numbers on the back of your card out to them. They will claim they need this to issue a full refund, but really, once they have those three numbers, they can spend on the internet.
You won’t realise what has happened until you get your next statement, and by this time it will be more difficult to file a fraud report. Real credit card companies will never take your bank details, because they already have them.

Bank Detail Virus

BBC news recently reported that a network of thousands of computers are ‘harvesting’ bank details from all over the UK. Cyber criminals in Eastern Europe are gathering bank log-in details, passwords and card numbers by infecting personal computers with a Trojan virus called Zeus. The computer becomes infected by the user clicking on a link within a spam email, or visiting an infected website. The computer is then under the control of the criminals who can sign in and transfer money to themselves. To protect yourself, make sure you are not being asked for any unusual further details when you sign in and to look out for any changes in your bank log-in procedure.

Holiday Scam Websites

You would think that booking a holiday would be a scam free experience, but BBC news has also reported the growing number of scams targeting people planning a holiday. Bogus websites have been set up, which pretend to be legitimate travel operators in order to get hold of credit card details. Bogus sites are also sometimes linked with authentic travel operators. Check that online firms have a proper address and contact details, and are members of a Trade Association such as the Association of British Travel Agents, often referred to as ABTA.

The Microsoft Lottery Scam

Lottery fraud is big business. You’re told you have ‘won’ a lottery you have no memory of entering, and are then asked for an advance fee to ‘claim your winnings.’ These scammers use well known names to make them seem legitimate – and the latest victim of this is Microsoft. So if Microsoft have sent you an email saying you have won a fortune – steer clear! You so haven’t!

If you are ever in doubt, remember that if something sounds too good to be true – it probably is.
Get Safe Online has lots of details about making sure your personal information stays personal, so check them out.

Loanfinder are a leading UK independent loan brokers, finding loans for customers by matching them to lenders without charging any upfront fees. The loanfinder service is straightforward. We review everyone’s situation and search for loans across a number of different lenders (over 200 loan companies). Loanfinder are able to find the best loan on the market for the client.

To find out more or apply for a loan, simply visit our website or contact us by email at info@loanfinder.co.uk

Wish You Were Here

If you can recall those halcyon days of youth, the sense of freedom at being allowed six weeks off school to do anything you like (even if by week three you were so bored you were sitting on the front step watching ants) was almost as exciting as Christmas. So one of the worst things about growing up, is that you don’t get that First Day of the Summer Holidays feeling anymore. Besides seriously upsetting the boss by suggesting six weeks uninterrupted holiday, spending six weeks ambling around Europe or going on an African safari can cost some serious wonga.

Going on holiday doesn’t come cheap, even in England. And if your break coincides with floods, hurricanes and tropical storms (which these days happen even in Norfolk) then it’s likely you’ll spend even more. But there are a ways of finding a holiday that don’t cost a fortune, and some things you can do when away, to save even more.

Camping

Yes. Camping is officially cool again. Forget those Carry On films and 1970’s style tents in a sickly shade of orange with ‘french windows,’ these days, the word on the field is ‘glamping.’ Glamping has turned camping into THE thing to do for your hols, and doesn’t require a great deal of expense. It’s quite possible to be a happy glamper with nothing more than a pair of hunter wellies and a Cath Kidston tent. Once you’ve invested in your tent and swiss army knife, camp sites are a really cheap way to holiday, costing as little as £5 per night.
And remember that camp sites abroad are often much better equipped than ones in England. Cool Camping have a free directory of the best camp sites in England, or you can buy the Cool Camping Europe book, for the best campsites in Europe on Amazon, here.

You can get a fire going, sing ging gang gooley, and have a fine old time. If it rains? Well, it will be horrible, but think positive.

House Swap

If you’re lucky enough to live somewhere that is a bit of a tourist trap, you could try a house swap. The idea is, that you swap your house or flat with someone else who lives somewhere you want to visit. Your house swap doesn’t even have to a perfect match. Even if you live in a flat so small you have to stick your arms out of the window to turn around, if it’s well located in London or a touristy city such as Bath, then you stand a good chance of swapping with almost anyone. So it’s quite possible to swap your poky flat for anything from a condo to a castle. Americans will think it’s just ‘so cute.’
From £35 you can sign up for Guardian Home Exchange, or try Home Link, who charge £115 for a year long membership.

Work and Travel

Ok. You might be trying to escape from work, but you can swap your services for food and accommodation. You’ll get to go somewhere nice, meet people, try new skills, and it’s very cheap. Help Exchange list people across the world, looking for help with almost anything, from crewing a boat, to looking after horses, or help with children. And the great thing is that other visitors leave reviews, so you can make sure you’re not signing up for a boot camp. To find out more, click here.

Where’s Cheap?

The Post Office publishes a holiday costs barometer every year, showing how much 8 different tourist items cost in different countries. They have worked out what we want to buy on holiday, and cleverly come up with the essentials; beer, coffee, suncream, cigarettes, and an evening meal. What more could you need? To check the total costs of these different items in various countries, you can look at the table here.

But remember, to get more bang for your buck, (sorry, pound sterling) you also need to consider the currency exchange rate. To find the cheapest currency conversion available, check here.

When to go

If you’re young, free and single, (or at least, don’t have kids) then you’ll be able to travel outside of the school holidays and save a fortune. The government have banned parents from taking their children out of school for holidays, so families are now paying a premium for summer holidays during the long break. If you go on holiday at the beginning of September, the weather is still lovely in most places, and you’ll pay much less. If you do have a family, then bear in mind that French children go back to school earlier, so you’ll find bargains in France towards the end of August. And if you can, stay flexible and book late. Travel companies, airlines and hotels need to fill their empty rooms and seats, so this is the way to find the real bargains. Try Travelzoo for a round-up of all the best late deals.

Tips to save on holiday.

So you’ve found a bargain holiday – but what about when you’re there? Mobile phones and bank cards will cost you a fortune if you’re not careful, so follow these simple rules.

Mobiles:

Try and avoid using your mobile. Costs per minute from abroad can be up to £1.50 per minute, even to receive calls.
It’s free to receive a text, so get friends and family to text you.
If you have a phone in your hotel room, get people to call you on that, but DON’T call out.
Disable your mobile voicemail or you’ll be charged for it, and retrieving messages also costs money
If you have internet access, try Skype.
If you must use your phone, contact your network provider about using a special roaming tariff.

Or why not just Send A Postcard? Think how happy your granny would be, to get a lovely postcard with a donkey on it?

Credit and Debit Cards

Every time you withdraw money or use your credit or debit card abroad, you’ll be charged a loading rate (commission) for your currency conversion. This is normally around 2.5%, so if you spend £100, you’ll be charged an extra £2.50.
To avoid these charges, the best thing to do is apply for travel friendly plastic. The Post Office credit card charges 0% commission on spending in the EU, or try the Santander zero credit card. Alternatively, if applying for credit is a problem, you can now also buy pre-paid travel cards. You simply load the currency of your choice onto the card before you go. Make sure you shop around though, because the exchange rates vary massively. To check the pre-paid travel card differences, click here.

Happy Holidays!

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Kilimanjaro Trek

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On Saturday, sixteen of our intrepid team will be pulling on their hiking boots and setting out to climb the highest free standing peak in the world; Mount Kilimanjaro. This incredible feat is to raise funds for Julia’s House, a … Continue reading →