12/03/2010 by bill.

We always recommend anyone thinking of opening a savings account to shop around for the best deals. Interest rates can change quickly in this highly competitive market even though it seems unlikely that the Bank of England will cut rates below the current record low of 0.5%. Interest rates may be variable at short notice or fixed for a specified period. However, we have identified the following Internet accounts as good deals available on-line on 12th March 2010.

On-line Savings accounts

The AA - AA Internet Extra (Issue 1) Account 2.80% aer (rate includes 2.30% bonus payable for 12 months)
Halifax - Web Saver Extra 2.80% aer (1 withdrawal a year without loss of interest, further withdrawals with loss of 30 days interest)
Alliance and Leicester - Online Saver Issue 7 2.75% aer (rate includes a variable rate bonus payable for at least 12 months) Minimum deposit £1000

Cash ISAs

Alliance & Leicester Flexible ISA 3.50% aer For 12 months the rate will be 3.00% above the Bank of England base rate, but is guaranteed not to drop below 3.50% for 12 months.
Santander Flexible ISA 3.50% aer For 12 months the rate will be 3.00% above the Bank of England base rate, but is guaranteed not to drop below 3.50% for 12 months.
Barclays Golden ISA Issue 2  3.10% aer includes a fixed rate 12 month bonus of 1% gross
First Direct cash e-ISA 2.75% aer fixed until 31 August 2011
Nationwide e-ISA Online Cash ISA 2.75% aer includes 1.00% bonus fixed until 30th June 2011

See moneyjungle.net for more on selecting the right savings account.

Please note that although we check rates regularly moneyjungle.net does not claim that the products listed above are the most appropriate for an individual investor and does not claim that the list is exhaustive. We exclude introductory offers that offer short term high interest rates that later fall or those that require the customer to open another account such as a current account. We always recommend thorough research, reading terms and conditions carefully and, where appropriate, consulting an independent financial advisor. See the moneyjungle.net independent advice page for further information.

Posted in Personal Finance, Savings, Investments | Print | 1 Comment »

24/04/2009 by bill.

Following the budget announcement of the car scrappage scheme, several manauafacturers are already advertising deals. The scheme means that you can get £2000 allowance when you trade in a car that is at least 10 years old for a new one. The government contributes £1000 and the car manuafacturer the other £1000 and not all manufacturers are expected to join the scheme because of this requirement.

However, it is clear that other manufacturers are not only promoting the sheme but offering additional discounts or attractive finance deals as well.

By the way, don’t be tempted to rush out to buy an old banger to trade in, the trade in vehicle has to have been registered in your name for 12 months and the scheme is due to end in March 2010.

So is now the time to buy a new car? Well there are deals to be had but many drivers may feel that buying a nearly new secondhand car represents better value by avoiding the big first year depreciation. It also depends on the cost of financing your new car. Dealers may have attractive offers but you may get a better deal by arranging your own finance. Click here for advice on selecting the right personal loan for you. Or see the moneyjungle.net business directory for links to personal loan providers.

Posted in Car scrappage scheme, Personal loans, Personal Finance | Print | No Comments »

15/03/2009 by bill.

Money Jungle is a melting pot for money making and saving ideas, offering clear and impartial information and expert guidance for investors, business startups and anyone looking to save or make money.

The Money Jungle business directory lists details of UK and international providers of personal finance, savings, investment, property, home finance and business development services.

Why not sign up to My Money Jungle? It’s completely free to join and benefits include a regular e-newsletter with news about savings, investment, saving and making money and about moneyjungle.net developments.

Posted in Household bills, Save money, Personal Finance, Finance | Print | No Comments »

11/03/2009 by bill.

Essentially cashback is a great way to earn a little extra, or even free money when you are doing your shopping - or organising financial products online. You can also often earn extra money on these sites by referring friends and relatives to sign up as well - up to £5 per referral. It`s well worth visiting your favourite site regularly to keep an eye on the latest special cashback offers - and of course remember to redeem your money when it comes through.


Make and save money with moneyjungle.net

Posted in On line finance, Cashback, Personal Finance, Finance | Print | No Comments »

09/01/2009 by bill.

The New Year is not just about giving up chocolate, alcohol and smoking – it is also the time for some positive changes. In the current economic climate, top of your list should be learning to look after your finances.

Plan properly and it will not be as hard as you think. Here are some dates for your diary.

January: Deal with the urgent stuff first If you’re self-assessed for tax, you must file your tax return and pay any taxes you owe by 31 January or you’ll be fined. Go to hmrc.gov.uk and the site will automatically calculate what you owe or are owed when you file online. Make a note to yourself if you’re likely to owe the taxman less than £2,000 – you can have this collected via your PAYE code if you file by 30 December.

February: Take control Take a look at the bigger picture of your finances and get ready to take control of your money. Check bank and card statements, go through your utility bills and check your credit report – online services such as CreditExpert offer a free trial. Your credit report shows what you’ve borrowed, how much you owe each lender and how well you’re managing your repayments. There’s also a useful list of all your lenders and their contact details if you’ve got unused accounts that need closing or spot anything you disagree with.

March: Deal with debt If you’ve got debts to clear, prioritise them so you get rid of the most expensive ones first. It’s also worth trying to identify a cheaper loan or taking out a credit card that offers a zero per cent balance transfer or interest-free spending for a few months, to give yourself some breathing space. You are more likely to qualify if your credit history is good, so go back to your credit report before you apply and make sure it’s up to date and accurately reflects your circumstances.

April: Start to save If you’ve got spare cash and haven’t used up your tax-free ISA allowance for 2008/9, you’ve only got until 5 April to take advantage. But before you do, get out your calculator to see whether you’d be better off paying off some of what you owe, if there are no penalties for early repayment.

May: Think ahead If you’ve got a mortgage, the chances are that you viewed and bought your house during the summer/early autumn sales peak, so now’s the time to look for a replacement for your fixed rate mortgage if it runs out this year. Ideally, give yourself three months to find a new deal. Little things can make a difference to your credit rating – even registering to vote at your current address can help. If you’ve got a good reason for any repayment problems in the past, contact the credit reference agency that holds your credit report – Experian is the UK’s largest – and they can add a note of explanation that lenders will see. For example, you may have missed a few payments because you were ill. Be prepared to provide proof.

June: Hit the sales The summer sales start this month, so take advantage of the bargains. If your family needs new summer clothes, you can pick them up for less – and you can also start filling your present drawer for Christmas, instead of panicking and paying full price nearer the time. Don’t borrow more than you can comfortably repay if you’re contemplating putting everything on your credit card, or the interest could eat into what you save.

See your free Experian credit report online with a free trial of CreditExpert

July: We’re all going on a summer holiday Organise your holiday money in advance – buying foreign currency at the airport or changing cash at the hotel can be expensive. Payment cards can offer the best deals but do your research carefully and make sure you’re not over-stretched already, or you may be turned down when you ask for a new one.

August: Amuse the kids for free Outings to amusement parks, trips to the cinema, ice-creams and treats are expensive, so cut your costs without depriving the kids of a good time. Look out for money off and two-for-one vouchers in the papers and online, buy snacks from the supermarket and bring them with you and have some good, old-fashioned fun for free. Take them for a walk in the country, enjoy a home-made picnic, visit friends in other parts of the country – and send them to stay with the grandparents, so you get some time off too.

September: Christmas is coming It may sounds crazy but you need to start planning for Christmas, or you’ll end up in a last-minute panic, buying expensive food, drink and presents just to get things done. Fill the freezer and drinks cupboard with special offers, snap up presents when you see them and put a little money aside every week towards the festive season, so you don’t have to put it all on your credit card or overdraft – a survey by CreditExpert found that more than a quarter of us resorted to this in 2008.

October: Protect your identity National Identity Fraud Prevention Week takes place this month but don’t let that stop you protecting your ID all year round. Tips from stop-idfraud.co.uk include never revealing personal information to people claiming to be from an official organisation, such as a bank or the police, without double-checking. They also advise shredding all documents containing personal or financial information before throwing them out and keeping your credit or debit card in sight when paying. Last but not least, check your credit report regularly, as it will show you if someone is trying to borrow in your name. PS: if you want to file a paper tax return, it has to be in by the 31st.

November: Check your utility bills The clocks have gone back, the nights have drawn in and we’re heading to the coldest months of the year. All energy suppliers have put up their prices over the last year but there are still differences between them and you could save a tidy sum by changing supplier. Visit Energy Helpline to compare tariffs. Setting up direct debits is likely to cut your bills and don’t assume that dual-fuel options will always be cheapest – sometimes they’re not.

December: Go house-hunting The bottom of the housing market might well have been hit by now but December is always an unpopular month for house hunters, with Christmas, bad weather and holidaying solicitors combining to slow down sales. If you’ve been saving and waiting, it’s time to forget the wrapping and the turkey and get looking. By early 2010, you could be in your new home – and in good financial shape.

Manage your finances with moneyjungle.net

Posted in Credit report, Credit and Debt, Personal Finance, Finance | Print | No Comments »

15/12/2008 by bill.

Sometimes you may just need access to a relatively small loan over a short time period. One type of loan is the Payday loan giving you access to your salary early. Payday loans may appear attractive but the interest rates charged can be extremely high, possibly in excess of 1000%! You will generally be much better off speaking to your bank about a short term overdraft facility or even seeking out your local credit union.

Wonga is a ground-breaking online lender operating in the UK. By offering small, short-term cash advances, Wonga provides consumers with instant money whenever they need it – 24 hours a day, 365 day a year.

The Wonga product is simple - It takes only minutes to complete the online application. If accepted, you then receive up to £750 into your bank account within minutes! Wonga has a consumer credit licence from the Office of Fair Trading (OFT)

Click here for more about instant loans from Wonga.

For more information about the types of personal loan available see moneyjungle.net

Posted in Loans, Personal loans, Personal Finance | Print | 1 Comment »

25/11/2008 by bill.

As expected, the pre-budget report yesterday turned out to be a full blown mini-budget. It included a cut in the main rate of VAT to 15%, help for the elderly and low paid and some help for small businesses. All these measures are designed to boost the UK economy and address the domestic and international economic crisis. The cost of the measures is some £18 billion and, taken together with falling tax revenues as the economy goes into recession, will result in significant increases in public borrowing which will have to be repaid through future increases in tax.

In the short term it seems we can expect further interest rate cuts making savings accounts less attractive at a time when the uncertainty in financial markets makes investors very nervous. Few investors are likely to invest in property until they see signs that property values have stabilised.

It is more important than ever that anyone looking to invest undertakes proper research and seeks independent financial advice.

moneyjungle.net is a good place to start with comprehensive guidance on what types investment are available in our Investing section. The moneyjungle.net Saving and Home Finance Section includes advice on savings accounts but also on finding a mortgage or personal loan, credit, charge and debit cards, managing personal credit and debt and how to save money on household bills.

For anyone looking to start or develop their own business see the moneyjungle.net Business Start Up section.

Anyone looking to change careers will find useful information in the moneyjungle.net Training and Personal Development Section.

Keep up to date at moneyjungle.net

Posted in The budget, Personal Finance, Savings, Investments, Finance | Print | No Comments »

05/06/2008 by bill.

Are you good with money? CreditExpert survey shows discrepancy between financial belief and reality

We all like to think that we’re good with money and a new survey from CreditExpert, the online credit monitoring and identity fraud protection service from Experian, shows that 96 per cent of us believe we’re up to speed on our current financial position.

No interest in interest

The survey shows:
• 66 per cent of credit cardholders could not tell you what rate of interest they are paying
• 56 per cent of men and 71 per cent of women with personal loans admit they had no idea of what APR they are being charged
• 29 per cent of those with personal loans can’t guess how much they have left to pay off
• 75 per cent of us with overdrafts don’t know what interest we’re paying, rising to 83 per cent among those aged 45-54 – and nor do 48 per cent of mortgage holders
• Nearly a quarter of mortgage holders don’t know how much of their home loan they still have to repay

But we know our limits

But at least nine in ten of us know what our overdraft limits are and 88 per cent of credit cardholders know their outstanding balance.

Overall, 15 per cent of people with loans can’t say with any accuracy how deep in debt they are. And one in ten of us don’t even know how much we earn after deductions.

It is little different with savings – 59 per cent of us with a savings account couldn’t tell you what interest we’re earning.

Loan fears

Given this lack of awareness, it is little wonder that many people believe they will be turned down for even relatively small loans:
• 15 per cent think they will be refused a £1,000 loan, a figure that rises to 21 per cent among 18-24-year-olds
• 28 per cent think they will be declined a £10,000 loan, including 52 per cent of 18-24-year-olds.
• At £30,000 – the size of a small mortgage – 41 per cent think they will be rejected, including 64 per cent of 18-24-year-olds

Not surprisingly, 29 per cent of us admit to planning our finances no more than every three months – or never at all. Yet just eight per cent say they’re poor at managing their finances.

Jim Hodgkins, managing director of CreditExpert, says, “It’s clear that there’s a mismatch between perception and reality for many people when it comes to their finances. Some of us could be getting into financial hot water without realising it, while others may well be worrying unnecessarily about their ability to get a loan.

“One way to get a reality check is to look at your credit report. It will give you an idea of what you’ve borrowed, how much is outstanding and how well you’re managing repayments. It might even end up reassuring you and regular checks will help you to keep on top of your finances. That could make the difference between being turned down for credit or having to pay high interest and not getting the deals you want.”

You can see your Experian credit report for free with a trial of CreditExpert, the UK’s leading online credit monitoring and identity fraud protection service.

See moneyjungle.net for tips on doing a self-asssessment of your own finances.

Posted in Credit and Debt, Personal Finance, Finance | Print | No Comments »

29/01/2008 by bill.

Following the success of the moneyjungle.net mortgage finder service launched in 2007, we are pleased to offer the new moneyjungle.net loans finder service.

The moneyjungle.net personal loans page offers information about the types of loans available and how to find the one for you. As with any personal financial decision, we recommend seeking expert advice in selecting the most appropriate loan for your circumstances. Money Jungle does not offer individual financial advice but we can now connect you with an impartial, FSA qualified adviser.

Click here and complete a simple form and an adviser will call you back to discuss loan options tailored to your needs.

Posted in Personal loans, Credit and Debt, Personal Finance | Print | No Comments »

21/01/2008 by bill.

If you do not like Mondays, you will really hate Monday 21st January. It has officially been named Blue Monday by a psychologist and former tutor at Cardiff University, who has used a mathematical formula to prove that it is the most depressing day of the year.

Dr Cliff Arnalls cites foul weather and failed New Year resolutions as major contributors to this state of affairs. But high on his list of factors are debts built up over Christmas, the arrival of the bills for the season of goodwill – and anticipation of a pay packet that may well be too small to cover them.

Dr Arnalls believes that a guilty feeling that we should be doing something to put things right is another contributor to this malaise – so this year, why not take control of your finances instead of splitting up with your partner, indulging in retail therapy that will only make matters worse or simply slamming the door?

Take these ten steps and you’ll soon be feeling better.

1. Discover your real position

Getting to grips with your financial position is the first step towards improving it. A good place to start is your credit report. This is the history of credit you have, such as credit cards, loans and mortgages, plus your repayment record, including any court judgments against you.

It shows your current position and how well you are coping – and it can act as a wake-up call if you’ve been trying to hide from your debts. Equally, you might find you’re not as badly-off as you think. You can get a free copy of your credit report online, here.

2. Get organised

Check all your statements – bank account, savings, credit cards, loans and utility bills – so you can see where your money is going. Make sure every month that there are no double or missed payments and that you pay your bills on time, or you could rack up penalties and damage your credit history.

3. Set a target

You may not be in a good place at the moment, but where do you want to get to? Be realistic – the odds are 14 million to one against winning the lottery jackpot. A more practical target would be to reduce the amount you owe on your credit cards or to save for the deposit on a new home. Review your plan every month to see how well you are doing.

4. Save on living expenses

You can save a lot by changing your day-to-day habits. For example, a £1.50 latte every working day costs around £400 a year and home-cooked meals are a fraction of the price of take-aways. Set aside some of the money you save for a treat, such as a holiday – that way, you won’t feel deprived.

With energy prices on the rise this year, it’s also worth visiting a price comparison site which matches your profile to available offers. While you’re there, check out telephone and insurance offers, too.

5. Clean up your credit history

During the current credit crunch, it is more important than usual to have a good credit report – lenders check it whenever you apply to them and a history of missed repayments or a mountain of unmanageable debt will not impress them.

So make sure your credit report is up to date and accurately reflects your circumstances. Query anything you disagree with and ask to add a note of explanation if exceptional circumstances, such as illness or an accident, got you into temporary trouble.

6. Reassess your borrowing

There are good deals out there. It’s a matter of tracking them down and persuading lenders that you are responsible and reliable. If you have trouble remembering to make repayments, it is worth setting up direct debits. Or you may want to consider rolling up several debts into a single loan that will be cheaper or simpler to manage. In every case, remember to factor in any penalty or set-up fees if you decide to switch – they can make the difference between saving and losing money.

7. Do not leave footprints

When you do your research, be sure that lenders understand you only want information and aren’t making a full application. The reason is simple – every application triggers a search of your credit report that leaves a track, known as a footprint. Other lenders will see these in future and may think you’re desperate for cash or even suspect a fraud.

8. Keep your ID safe

ID fraud costs Britain billions every year, so protect yourself from the fraudsters who could impersonate you to run up huge debts and damage your credit history.

Shredding sensitive documents before throwing them away, forwarding your post when you move and never giving personal information to cold-callers or e-mailers are all sensible precautions you should be taking to safeguard your identity. For more tips, go to www.stop-idfraud.co.uk.

Top of the list is monitoring your credit report, which proves such an effective protection that it’s recommended by the government. Regular checks mean you quickly spot any unfamiliar credit accounts or applications and can stop real damage occurring. With a free trial of CreditExpert, you‘ll also be alerted by e-mail or text whenever there’s a change to your credit report that could indicate an attempted ID fraud.

9. Declare your independence

More couples break up in January than any other month. If the worst has happened, you need to separate your finances as well as your possessions. Tell banks, building societies, credit card issuers, mortgage lenders and utility providers if you no longer share a financial connection – your credit report includes contact details. Then set up new accounts.

You should also make sure that your credit report no longer registers the two of you as financial associates. That’s important because lenders may look at the credit history of anyone with whom you share a credit account – and if your ex gets into trouble, you could face rejections or be asked to pay higher interest.

10. Keep up the good work

Sorting out your finances is one resolution that is easy to keep – you can see yourself getting better off and watch your credit status improving every month. You might even be able to afford an indulgent Christmas by the end of the year – and face an even happier 2009.

Start today - see your free Experian credit report with a trial of CreditExpert, the online credit monitoring and identity fraud protection service.

11. Sign up to the My Money Jungle eNewsletter to receive news and updates, free entry into prize draws, offers and discounts.

Posted in Credit and Debt, Personal Finance | Print | No Comments »