Money saving tips

How could recent inflation rises affect us?

Small changes to the things we do on a regular basis can help cut down costs Did you know inflation in the UK reached a two-year high in December 2016? We look at how this could affect all of us.

With the weaker pound pushing up air fares and food prices, the cost of weekly shopping and jaunts abroad is on the up, not matter what your budget.

The  Office For National Statistics estimates that a basket of goods and services that cost £100 in December 2015 would have cost £101.60 in December 2016.  They put the rise down to “Price movements for the majority of the broad groups of goods and services.”

*Did you know: the most recent figures show that in 2014 the average food shop was £58.80, which would have meant an extra 50p a week in 2016 with these rises.* Continue reading

Rail fares increase by 2.3% in 2017

Commuters faced by increased train fares

Commuters faced by increased train fares

Travelling by train to work hasn’t been a lot of fun for many of us so far this year, with industrial action, service problems and fare increases in many places all over the country.

The fare rises in the first week of January 2017 saw a nationwide average increase of 2.3%, with increases of 4.9% on some routes, such as the East Coast main line. In Britain as a whole, it is the highest fare rise since January 2014, when rail fares increased by 2.8 per cent.

Are season tickets value for money?

Looking at some of the most popular commuter routes, among the highest is an annual season ticket from Stevenage (home town of Lewis Hamilton, in Hertfordshire) to London is £3,612 which works out at 27p per minute. Continue reading

Plan your shopping budget for winter

Sometimes just making small changes to the things we do on a regular basis can help cut down the cost of our weekly food shop.

Small changes to the things we do on a regular basis can help cut down costs

Small changes to the things we do on a regular basis can help cut down costs

With winter on the way, reducing what we have going out can help us make the best of what we have coming in. Especially when January can sometimes be a challenge, if like many people, you were paid earlier than usual in December and have a much longer run until the next payday.

Here are five simple tips for a food shopping budget in winter:

  1. Plan ahead and budget – It could be something as simple as making a shopping list, so as not to overbuy at the supermarket, or it could be comparing prices in shops, across websites and with available discounts before you make a large purchase or sign up to a utility. And keeping up to date with when your credit bills are due can help you avoid the risk of missing payments. Continue reading

Are you confident about teaching your child how to manage money?

Managing money well is a skill we all want our children to pick up, and in the same way that ‘charity begins at home’, so can financial management.

Research by Experian* has revealed that most (58%) parents are trying to take an active role teaching their children how to manage money well.


Video with Sarah Willingham: How do you teach children the value of money?

Over half (51%) of parents who give pocket money do so to help their children learn how to manage money independently. However, their good intentions are being undermined by a number of factors.

•              67% do not take a consistent approach in ensuring their children earn their pocket money; only ‘sometimes’ aligning it to doing chores.

•              42% of those surveyed (parents of children aged between 5-18years) admitted they did not try or were not managing to take as active a role as they would like

•              Of these parents, 36% struggled to find the time to take a more active role

•              A further 30% cite a lack of confidence, knowledge or suitable resources as factors that are holding them back.

Continue reading