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By Julia Kukiewicz Staff Writer
Friday, 13 March 2009
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Previous Money News Roundups
See our other recent Money News Roundups and other related news stories:
Money News Roundup (06 Mar 09)
JULIA Kukiewicz's personal finance news roundup finds out if tax credits cause divorce, if free banking is ending and whether Nationwide have abandoned free credit cards abroad.
Money News Roundup (27 Feb 09)
JULIA Kukiewicz's personal finance news roundup reveals if the bank charges row be drawing to a close? Why should we regulate the banks? And why do we love our credit cards?
8 serious ways to look after your money during the recession
This personal finance guide aims to offer some real advice as Claire Stevenson looks at 8 ways you can recession-proof your finances.
Five reasons why bankruptcy is NOT your first option and the alternatives
Despite the economic uncertainty that lies ahead, there are options other than bankruptcy if you're struggling to repay your debts, says Claire Stevenson.
Seven Ways to Punch the Credit Crunch in the face
It's the little purchases that will make a big impact on your finances during the credit crunch. Follow Julia Kukiewicz's easy guide and do seven little thing that will be a big punch in the crunch's the face when you're shopping, on holiday or even surfing the net.
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This week: insurance against bad luck, bad debt websites and dishonest Burger King customers.
Are you Insured for Friday the 13th?
ARE you - or were you, if you're reading this after Friday - insured against Friday the 13th?
We only ask because Churchill Home Insurance has released a survey which suggests that you really should watch out on Friday the 13th.
Last month, accidental damage claims about pipes increased by 25% on Friday the 13th in February compared to the preceding two Fridays. There was also a 20% increase in claims about sinks, bathroom fittings and - gulp - mirrors. Spooky.
Try not to contract Paraskavedekatriaphobia, the fear of Friday 13th, from this news since I'm sure this is just some dubious figure juggling... or is it?
Half a Million in Loose Change
STICKING with the dubious research theme, a study by Burger King (Burger King!) this week found that Britons could be making half a million pounds a year by keeping extra change and money they find in the street.
Out of the 1000 people questioned 9 out of 10 said that they wouldn’t hand a lost wallet in to the police and 58% wouldn’t say anything if they were given too much change.
Our favorite part of the research, though, was when Burger King dropped 1,000 wallets in streets in London, Liverpool, Manchester, Aberdeen and Edinburgh. Each wallet contained a £2 coin and a note asking people to return the wallet to their nearest Burger King.
The survey found that Londoners were the most honest, 15% of the wallets were handed in, while Liverpool was the least honest, with just 6% handed back.
I don’t know about you, but if I found £2 from Burger King on the floor I’d figure that they can afford to lose it...
Not so Cheap at Asda
ASDA announced last week that by Easter it will have reduced 5,000 more prices, 12,500 items overall.
Sounds good right? Except that, as The Grocer magazine pointed out this week, more than half of those price cuts are only worth a penny an item and where prices increased fewer than one in 10 of the items went up by only a penny.
The Grocer showed that Asda still have the cheapest basket in its weekly survey of supermarkets but like the rest of the big four - Tesco, Sainsbury's, Morrisons and Waitrose - Asda's prices have risen this year.
In other supermarket saving news, tonight on ITV watch Martin Lewis 'double downshift' a family (that's buying two brands down to non-MSEers) to see if they'll notice.
Given that MSE has previously found that downshifting one brand can save the average family - spending £100 a week on food - around £1,700 a year I'm sure the documentary will find that they didn’t notice.
Makes you wonder about Asda 'penny-pinching' too doesn't it? Every little helps and all that.
Debt websites shut down
Ever wondered how many of those debt management companies that advertise on afternoon TV are real?
Well wonder no longer, this week the Office of Fair Trading took action against 27 websites which seem more or less indistinguishable from non-profit organisations that help those in debt.
The action also reveals that companies have been hedging their bets: the 27 sites are owned by just 13 companies.
It is expected that at least some of the websites will be perfectly legal because it's legal to charge for debt consolidation - all they need to do is have a consumer credit licence and adhere to the OFT's debt management guidance. The action is against deliberately misleading consumers.
If you are looking for free advice about serious debt it's best to look to agencies such as Citizens Advice, the Consumer Credit Counselling Service, the Money Advice Trust and Advice UK.
If you're looking for more general advice about money saving, mortgages and credit cards during the recession check out Claire Stevenson’s article here at Choose.
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