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DON'T believe the fake 'Martin Lewis' or 'MSE' ads |
- New. Virgin Money M Plus 1.71% with perks - but leaves a credit file mark. You can put up to £25,000 in Virgin Money's M Plus's* linked savings account. Yet to get it, you'll need to open (though needn't switch to) its bank account, which means a full credit check will go on your credit file - best avoided if you've a mortgage or other important credit application soon. You also get a debit card which is a top pick for overseas use. If you do switch to it, you get 20,000 Virgin points, which you can convert into various treats, such as 12 bottles of wine, money off flights, or even 100 sausage rolls (though if you're switching, other accounts offer up to £160 free cash). - 1.5% on savings + 1% cashback. Alternatively, the Chase current account's* linked saver pays a slightly lower 1.5% and works a similar way, though only does a soft credit check, so won't affect future credit applications. Its debit card gives 1% cashback for 12 months on most UK and foreign spending and is also a top pick for overseas use. - Just want standard savings (not linked to a bank account)? If you just want a straightforward savings account, Yorkshire Building Society* pays 1.55% AER, but only if you've £10,000+ to save in it. If you've less, Zopa pays 1.5% AER from £1, though it's app-only. Or you can get 3%+ if you can lock money away in a fix. The top fixes pay more than easy access and the rate is guaranteed. The negative is you can't access your cash during the fix, so only lock away what you're certain you won't need. Yet rates change regularly - so always check the latest top fixes. Current top payers include... - Top 6-month fixes: App-only Atom 2% AER (min £50) or for online access United Trust Bank's 1.96% AER (min £5,000). - Top 1-year fix: Online access OakNorth Bank 2.85% AER (min £1). - Top 2-year fix: Online access Shawbrook Bank 3.12% AER (min £1,000). Is it worth fixing when UK rates are rising? The longer you lock savings away, the longer you forgo the ability to move cash elsewhere if rates improve. Yet with the Bank of England widely expected to increase the base rate again this week, it may pay to stick with top easy-access savings for a couple of weeks to see if rates improve before looking to fix. Can you boost interest further? Some specialised options in our Savings section pay even more: - 50% bonus for many on universal credit or tax credits. See Help to Save. - 25% bonus for first-time buyers aged 18 to 39. See Top Lifetime ISAs. - Earn up to 5% if you can save monthly. See Regular savings. - Earn 5% on smaller savings. See Current account savings. - Prefer to invest? Higher returns, but more risk. See Stocks & shares ISAs. |
Updated. Energy price cap now likely to rise by a sickening 70% in October - so should you fix? Another week, another set of horrible energy price cap predictions: industry analyst firm Cornwall Insight now expects October's price cap to be 70% higher than today's (so a staggering £3,359/year on typical use). It's also upped predictions for January's cap - now expected to rise a FURTHER 8% (typically £3,616/year). We've updated Martin's Time to fix? guide with the new figures. 9p Diet Coke, 18p Sharwood's curry sauce, 45p Heinz mustard & more - via 10% off code for already reduced past 'best before' food. MSE Blagged. Approved Food sells cheap groceries near or past 'best before' dates (NOT past 'use by' dates, which are about health). Min £22.50 spend, delivery's £3+. Approved Food New. Switch banks for a FREE £160 + bills cashback, or £150 + top service. Switchers to the Santander 123 Lite* get a free £160, plus 1% to 3% cashback on many household bills (worth £40 to £80/year for those with mid-to-large bills, after the £2/month fee). Or, if you value cracking customer service, First Direct* pays switchers £150 and was rated 88% 'great' in our last service poll. You also get access to a 3.5% linked regular saver, and many get a £250 0% overdraft. Full details of both, including - crucially - whether you'll qualify, in Best bank accounts. Boots trick to get £37 of No7 cosmetics for £13.50. Stack offers to load up for less. See No7 trick. It's back. Megafast 108Mb Virgin broadband just '£17.40/month' - we've not seen cheaper. MSE Blagged. This deal comes and goes, but until Thu 11 Aug, newbies can get this Virgin Media 108Mb broadband & line deal for £22.95/month, with an automatic £100 bill credit (so nothing to pay for four months, unless you make calls). It's equivalent to £17.40/month over the 18-month contract. Can't get Virgin in your area? Use our broadband comparison for the top deals. Martin's 'protect and boost your credit score' masterclass. In case you missed it last week, Martin shows you how to check your credit reports for free, and gives his 10 tips to make you more financially fanciable. Martin's masterclass |
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Money in prepaid funeral plans is now protected - though they're not right for everyone This isn't a topic we're exactly giddy to talk about, but it's important. We all die... and dying is expensive. A basic funeral costs over £4,000, which could easily double depending on the type of send-off you have - a huge sum for a grieving family to find. One option to minimise some costs is to buy a funeral plan, and last week new rules kicked in that protect cash in these plans. We've full details on what you need to consider in our updated Prepaid funeral plans guide, but in brief... A prepaid plan lets you pay for your funeral essentials in advance - but they DON'T cover everything. You pay a fixed amount to cover a range of services. What's covered depends on the plan - basic ones (costing about £2,000) cover transport and care of your body, a coffin, burial/cremation costs and a funeral director, while a premium plan (about £4,500) will cover extras such as mourners' limos and a posher coffin. The big benefits are:- Funeral plans are inflation-proof - the price you pay today will still cover your funeral costs, even if these are significantly higher when you die. - Money spent on a funeral plan isn't considered part of your estate, which means it won't be counted when working out if there's any inheritance tax to pay when you die (unlike savings, which is). - You can usually spread the cost of them interest-free over 12 months. But prepaid funeral plans DON'T cover headstones, flowers, wakes or burial plots (which combined can cost £1,000s) - so your family will still need to find cash for these, if they're wanted. See more on what is (and isn't) included. New. Funeral plans are now regulated - so your money's protected, even if the provider goes bust. See full info on the new protections in our guide, but they mean: - If the provider goes bust, your funeral will still go ahead, or you'll be able to get your cash back. - If you have a complaint about a provider, you can now escalate this to the Financial Ombudsman Service. - You'll still get a funeral if you've instalments left to pay when you die (or a refund if the plan's less than two years old). Think about the send-off you want, as this will help you find the right plan. Do you want to be buried or cremated, have a particular style of coffin, or lay on transport for mourners, for example? Next look to marry up your wishes and your budget as this will help you narrow down the types of plan to look at. We've a summary of some of the biggest providers' plans to help - see funeral plans compared. Important. Be very careful if you'll need to pay for a funeral plan over several years - you'll be charged interest and could end up paying far more than the funeral's actually worth. Remember, funeral plans aren't the only way to pay. There's state help if you're on a low income, and other no-frills, cheaper options. See funeral plan alternatives. PS: Already got a funeral plan? Check your provider's still authorised to offer them. If it is, there's nowt to do - your plan is protected by the new rules. If not, your firm should refund you or transfer your plan - so check your provider now. |
Save water AND money with FREE £20 shower heads, £5 tap inserts and more. Over a million free water-saving gadgets are available - they help stop water waste and can lower bills. Save Water Save Money New MSE calculator. How much are you expected to give your kids for university? The maintenance loan students get to fund uni costs (such as accommodation, food and travel) is dictated by a means-test of 'family income' (parents' income for most under-25s). The unwritten suggestion is parents are meant to fill the gap. So if your child is going to uni, try our Parental Contribution Calcs: England | Scotland | N. Ireland | plus info for Wales. Want to save now for younger children? Use our Parental Contribution Savings Calculator. How do you pay for childcare? Let us know your experiences. Whether you use childcare vouchers, Tax-Free Childcare, tax credits or get help from family, tell us how it works for you and any issues you've faced in our childcare survey. 12 lavender plug plants OR 12 young perennial pink plants from £9 delivered. MSE Blagged. Normally £15 to £31. There's 4,900 sets available. Precious Plants Decluttering? We've tips to get more bucks for your books. MSE Rhiannon compares selling on specialist book apps vs eBay, plus we've codes for up to 20% extra cash via the apps. Sell books for cash |
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AT A GLANCE BEST BUYS
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THIS WEEK'S POLL Have you got a summer holiday booked or have you already been on one? Holidays are back again this year for many, with most travel restrictions now dropped. But many trips have been beset by delays. So this week, we want to know if you've got a summer getaway booked or, if you've had one, whether it was disrupted? Vote in this week's poll. Nearly half of MoneySavers have checked their credit report in the last three months. Last week, we asked you to tell us when you last checked your credit report and about 3,000 people responded. The vote showed a big split - while nearly half had checked their credit report in the last three months with at least one credit reference agency, almost 40% hadn't checked AT ALL in the past 10 years. See full results. |
MONEY MORAL DILEMMA Our son got a £20,000 payout for an accident - should we focus on saving for our other kids? One of our sons was involved in an accident at nursery and got £20,000 compensation, which has been safely put away for his future. We're now wondering what to do about saving for him and his two brothers - should we continue to save an equal amount for all three of them, or concentrate on saving for his brothers since he already has a large amount put away? Enter the Money Moral Maze: Should we focus on saving for our other kids after our son's payout? | Suggest a Money Moral Dilemma |
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MSE TEAM APPEARANCES (SUBJECTS TBC) Thu 4 Aug - BBC Radio Leicester, Mid-morning with Kelly Hinch, from 11.35am |
LOSING POCKET MONEY OR ADDING UP YOUR COFFEE COSTS... WHAT WAS YOUR MONEY-PIPHANY? That's all for this week, but before we go... MSE Forumites have been discussing the moment that changed their attitude towards money. For one it was when they added up how much they spent on coffee and realised they could put that money to better use - paying off their credit card. Another recalls pestering his dad for cash so much that his pocket money was stopped, prompting him to get his first ever job. But many said their 'money-piphany' was when they joined the MSE Forum - with one particular Forumite driven to take hold of their finances after help from another. So let us know - what was your 'money-piphany'? We hope you save some money, stay safe, |
Important. Please read how MoneySavingExpert.com worksWe think it's important you understand the strengths and limitations of this email and the site. We're a journalistic website, and aim to provide the best MoneySaving guides, tips, tools and techniques - but can't promise to be perfect, so do note you use the information at your own risk and we can't accept liability if things go wrong. What you need to know This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances - and remember we focus on rates not service. We don't as a general policy investigate the solvency of companies mentioned, how likely they are to go bust, but there is a risk any company can struggle and it's rarely made public until it's too late (see the Section 75 guide for protection tips). We often link to other websites, but can't be responsible for their content. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. Please read the Full Terms & Conditions, Privacy Policy, How This Site is Financed and Editorial Code. Martin Lewis is a registered trade mark belonging to Martin S Lewis. More about MoneySavingExpert and Martin LewisWhat is MoneySavingExpert.com? Who is Martin Lewis? What do the links with an * mean?Any links with an * by them are affiliated, which means get a product via this link and a contribution may be made to MoneySavingExpert.com, which helps it stay free to use. You shouldn't notice any difference; the links don't impact the products at all and the editorial line (the things we write) isn't changed due to them. If it isn't possible to get an affiliate link for the best product, it's still included in the same way. More info: See How This Site is Financed. As we believe transparency is important, we're including the following 'un-affiliated' web-addresses for content too: Unaffiliated web-addresses for links in this email uk.virginmoney.com, chase.co.uk, ybs.co.uk, santander.co.uk, firstdirect.com, sainsburysbank.co.uk, bank.marksandspencer.com Financial Conduct Authority (FCA) Note MoneySupermarket.com Financial Group Limited is authorised and regulated by the Financial Conduct Authority (FRN: 303190). MoneySavingExpert.com Ltd is a company registered in England and Wales. Company Registration Number: 8021764. Registered office: One Dean Street, London, W1D 3RB. MoneySavingExpert.com Limited is an appointed representative of MoneySupermarket.com Financial Group Limited. To change your email or stop receiving the weekly tips (unsubscribe): Go to: www.moneysavingexpert.com/tips. |
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