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  Could You Be Saving £400 A Year On Food?

  Beth 1:01 pm on February 3, 2012 | 0 Permalink
  

  It’s safe to say that we are all feeling the pinch at the moment. Costs are rising and wages seem to be either staying the same or decreasing. Well how does saving £400 a year on food sound?

  If this sounds of interest to you, then buying frozen food instead of fresh could be the way to go. According to research conducted by Sheffield Hallam University, a basket of frozen goods cost around£15.45 , and the same basket of fresh goods would cost around £23.25. So, if you made the swap, you could find yourself saving as much as a third every week.

  With so many families finding it difficult to cover the rising cost of living, I’m sure any savings would be welcome. However, many people will be reluctant to opt for the frozen options over fresh, because of nutritional value. But, research was also released which said that in many cases, there should be no difference in this.

  This study was of all the different types of foodstuff, from “value” ranges all the way up to organic and they found that at per 100g, the frozen food was much better value for money. The items that were looked at were things like vegetables, chicken, fish, sausages and pizzas.

  If you made the swap, you could save over £400 in a year in cost. Not only this, but it could also reduce a lot of food waste. Recently it was reported that in the UK, we throw away as much as 17% of fresh food, so another good reason to go frozen!

   
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  Will Diamond Jubilee Impact the Economy in 2012?

  Oliver 2:27 pm on January 31, 2012 | 0 Permalink | Reply
  

  2012 is predicted to be a tumultuous year for the UK economy. The threat of a double dip recession and the lack of economic growth are just some of the reasons that forecasters are worried about the year ahead – and that’s despite it being another year of celebrations for UK citizens. (More …)

   

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  What the Current Economical Climate Means To You

  Oliver 4:43 pm on January 30, 2012 | 0 Permalink | Reply
  

  Since the coalition government were formed on the 12^th of May 2010 between the Conservative and the Liberal Democrats, their main priority has been to reduce the deficit. This deficit refers to the gap between the amount of money the government receives and the amount it spends. Previous governments had overspent due to governmental borrowing, further increasing the level of national debt. So when the coalition government was formed, the deficit reduction was on the top of their list of priorities. (More …)

   
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  Should You Save Your Money Or Pay Off Your Debt?

  Beth 4:47 pm on January 27, 2012 | 0 Permalink | Reply
  

  If you’re lucky enough to have money left over at the end of the month or if you get a bonus through from work, what should you do with the extra money?  Of course, many people will be tempted to spend it on nice things like clothes or gadgets, but realistically the two best options for that money would be to either use it to pay off some of your debt or put it away as savings.

  What would be the best option?

  Saving Money

  One of the biggest arguments for saving your money is that you are covered should a financial emergency pop up. Also, by doing this, you could try to prevent getting into debt in the future. However, the difficulty with doing this and not paying off your debt, is that the interest on things like credit cards will increase, leaving you paying off more money that you might have done before.

  Paying Off Your Debt

  Paying off your debts is important as the longer you leave it, the more interest you will pay, so it’s a good idea to get rid of the debts as quickly as possible.

  However, if you decide to use the money to pay off your debt, you could leave yourself at risk if a financial emergency appears. If an unexpected expense does pop up, then you might find yourself relying on credit cards to cover the costs, which could make the debt worse.

  Why Not Try Both?

  I think realistically, it’s important to do both. It’s a good idea to be able to find a good balance between paying off your debts, but trying to set some aside in case of emergencies. So, maybe if for example, you were lucky enough to be given a £500 bonus at work, then it might be worth putting £250 into a savings account

  Obviously, this does depend on your circumstances, as most people aren’t lucky enough to have money left over at the end of the month. If your debts are more urgent, like a utility bill and you don’t have any spare case and don’t want to use credit cards, what are your options?

  If you have no emergency fund and an unexpected finance does come up, then you might consider a short term loan like a payday loan. It’s possible to apply for anything from as little as £50 to as much as £1250, which you borrow until your next payday. For more information, why not check out our FAQ’s?

   
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  Experts Predict Finances Won’t Improve Until 2020

  Beth 2:08 pm on January 26, 2012 | 0 Permalink
  

  A new report has shown that low to middle income earners won’t see any proper improvements to their finances until 2020 at the least.

  This report refers to the households that bring in around £20,000 a year take home (around 5.8 million households). According to the research, the incomes for this group of households will gradually decline then start to level around 2016/2017. Then hopefully, the growth that is expected will come along and then in 2020, these households will go back to the same disposable income they had before the recession came along. However, if this predicted growth doesn’t happen, then incomes could be 8% lower than 2007, which isn’t good news.

  Whatever the outcome, it’s still likely that the gap between the lower incomes and the higher incomes will get bigger.

  Also, with regards to property, this group of people took around four years to save for a home deposit in 1992 and eight years in 2001. In comparison, these same households will now have to wait around 22 years to be able to get their own home. It also showed that those who are over 35 may never be able to stop renting. The reasons that researchers gave for the increase was that wages aren’t increasing at the same rate as house prices.

  Although many people across the UK are looking for some positive news regarding the state of their finances, unfortunately the immediate future isn’t looking too bright. Hopefully we will get some good news about the economy soon.