Moneywise Articles

Debbie and Steven Goode live in County Durham with their three daughters (Sarah, 11, Laura, eight, and four-year-old Samantha). Debbie, 37, is a midwife for Gateshead NHS trust and earns £1,500 a month after tax, while Steven brings home around £1,760 a month as a police officer.  Their monthly outgoings include a £400 payment on their interest-only mortgage, £300 in personal loan repayments for their car and £650 in general living expenses, in addition to household bills, travel and entertainment, which leaves them with around £500 a month in disposable income.... Full Articles

There's not as much action in the savings market as there should be this week, as many providers have still not passed last month's 0.25% base rate rise onto their customers. If your bank or building society hasn't increased the rate on your savings, it's time to jump ship to a better deal. If you want the security of a fixed-rate deal and are willing to stash your money away for over 12 months, the Derbyshire Building Society is currently top dog, offering 6.45% on its one-year fixed rate bond. It requires just a £1 initial deposit and the term lasts until 31 July 2008.... Full Articles

Stop smoking, save money

Smokers beware: lighting up a cigarette in a pub will cost you more than your health from next month. The ban on smoking in public places comes into force in England on 1 July and if you're caught you could be fined £50. If you are a smoker then the news may not be that appealing. But if the thought of having to huddle outside to get your nicotine fix is still not enough to persuade you to give up, then perhaps a financial incentive could. The savings that can be made by simply not buying cigarettes are widely quoted. Figures from Clerical Medical claim the average British smoker spends £1,500 a year on tobacco, which adds up to - excuse the pun - a breathtaking £92,000 in a lifetime..... Full Articles

Inflation-proof your savings

In March this year, inflation breached the 3% mark and while this is still a long way off the 27% peak experienced in 1975, it's the highest level seen in the UK since the mid-1990s. So although inflation remains historically low, its creep upwards is bad news if your money is squirreled away in savings or if you live on a fixed income, such as a pension. This is because inflation determines the real return on your savings. For example, 3% inflation would reduce £100 to £86.26 in just five years and almost halve it over 20..... Full Articles

Promising hunting ground

Anthony Bolton's impending retirement as manager of Fidelity Special Situations fund is not getting quite as much coverage as Tony Blair's departure from Number 10. Nor is it quite as imminent - Bolton expects to work in tandem with his successor, Sanjeev Shah, from September until the year end. But it is probably more widely lamented among his followers, because he has served them exceptionally well, turning £100 invested in his fund at its1979 launch into around £13,000 today....... Full Articles

Give your child a head start in life

According to industry research, one in four parents said they would have set up a savings account when their children were born if they had realised the cost of supporting their child through further education.  Before you start saving it's crucial to consider the tax implications. Children have an annual tax-free allowance like adults (£5,225 for the tax year 2006/07). But, unlike their parents, most children don't meet this allowance with earnings, so their savings should effectively be tax-free..... Full Articles