saving money

Ok Santander have decided to cut the interest rate on this account for the second time this year. This means that the once top of the tree best buy account is now paying 0.6%. A far cry from the top rate of 3% it payed when it was first launched. On top of this the ammount you can earn on the cash back levels has been capped so further reducing what the account pays you. Finally despite all these smacks in the face Santander has the final kick in the teeth and have left the accou t fee at £5 a month so you now need to have a higher balance to earn enough interest to even cover this fee. Well I suppose someone has to pay for the millions in bonuses the CEO and board of directors will get, not to mention the vast sum they will by paying those two (insert expeltive) idiots who do those awful adverts for them. This account has gone from the best buy to being beaten by something the cat has dragged in eaten then vomited on your pillow.  My advice to anyone who has this account - change ...

Need a quick and easy way to save? Well here are two quick suggestions. A)      Save the change: This is something some banks offer so you will need to check with your bank to see. The idea is quite simple, when you use your debit card to pay for something the price is rounded up to the next whole pound and this difference is then paid into a nominated savings account. e.g.   price £5.25     £6.00 leaves your current account     £5.25 goes to the shop     £0.75 transferred to your savings account Here you save in small amounts as you shop so over the year it will add up. The minor thing is it has to be a savings account at the same bank and may be only a few – usually the lowest interest account that they will pay the change into but any interest is better than no interest which is what most non-fee charging current accounts pay. B)       Penny plus a dail...

Let’s face it shopping for food is an essential so how can we save a few pounds here? Firstly the easiest thing to do and probably the most obvious – make a shopping list and stick to it. It is surprising how many people don’t do this and end up buying things they already have plenty of at home. Also planning meals ahead of time can also save money and more importantly save food waste. Wasted food is wasted money so plan ahead and save. Next is what was put out as ‘the downshift challenge’. Put simply move down one rung on the brand you buy. So if you buy a top branded item try the top-of-the-range shop’s own (if is cheaper that is) if you buy the top of the range shop’s own try the shop’s own standard and so on. If you can’t tell the difference then stick to the lower level and save – ok it may only be a few pence but this added up over the entire shop and over the year it will soon add up. In the same vein my mum used to play a bit of a stunt as my brother would only eat th...

earn cashback as you shop by using cashback websites. links to my two favourites: Quidco https://www.quidco.com/raf/5764076/ Top cash back: https://www.topcashback.co.uk/ref/toptip OK they won't make you rich but saving a few pounds now and then does add up. It can take a while for the cashback to come through and it is never guaranteed but I have had very few problems with them. I have also started writing on hubpages so you can find other things there. https://hubpages.com/@mikec1978

Now I think you may need to be my age or older to have even heard of premium bonds but they have been in the news recently due to the interest rates being cut so I thought it a good time to write this. Premium bonds have been around for a long time in various forms. They are where you invest some money and instead of receiving a percentage interest you are entered into a prize draw to win a proportion of the total interest of the investment instead. They are run by National Savings and Investments (NS&I) which is a state owned bank A little history The current UK premium bonds were introduced on 17 th April 1956 as a new way of saving where each bond cost £1 (about £25 today) The idea was that each bond had a number and these would be put into a monthly draw and the winners would receive a tax free cash prize. The differences between this and other lotteries is that your number stays in the draw so even if you win you have the same chance of winning again the ...

Wow it really has been a while since I updated here. Firstly I'll answer the question that some may ask - what is an ISA? An ISA (individual savings account) is a way of saving where you pay no tax on the interest earned. There are certain rules to them such as limits on how much you can invest in a tax year. Now there are two main types - cash and investment ISAs. As investment ISAs are linked to stocks and shares etc I will not discuss them here as there are too many ins and outs for them. So cash ISAs So why may they no longer be worth it? Well the governement introduced a savings interest allowance 3-4 years ago which says that, depending on your income, you can earn a certain amount of interest tax free - regardless of the account it is in. the limits are - basic rate tax payer (20%) - £1000 interest tax free                      - higher rate tax payer (40%) - £500 interest tax free        ...