Analysis Topic: Personal Finance
The analysis published under this topic are as follows.
Monday, April 02, 2007
Moneyfacts.co.uk mini cash ISA survey 2007 shows you need to act quickly to get your hands on the best ISA deals / Personal_Finance / Savings Accounts
By: MoneyFacts
Rachel Thrussell, Head of Savings at Moneyfacts.co.uk – the money search engine, comments on this year’s finding: “This year’s moneyfacts.co.uk mini cash ISA survey shows the projected value of £3,000 over the tax year 2006 to 2007. Assuming that the full investment of £3,000 was made on 6 April 2006, that no withdrawals were made and all interest was compounded during the tax year, the survey has wielded some very interesting results.
“Alliance & Leicester, this year’s clear winner claims the top spot in the survey with its Direct ISA, returning £3,163.46. A no notice account, the product was launched on 9 January last year with a rate of 5.20%, but this included an introductory offer of a 0.70% bonus, which was swiftly withdrawn on 12 April. Transfers in were accepted, but it clearly demonstrates that investors had to be quick off the mark after the new tax year began if they wanted to take advantage of the product.
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Monday, April 02, 2007
UK Tax 2006-07 Self Assessment Tax Return Filing Deadlines - 31st Jan 2008 / Personal_Finance / UK Tax & Budget
By: Shahla_Walayat
With the new tax year starting, this is a good time for a reminder of the key self assessment deadlines for the 2006-07 tax year, to ensure you plan well ahead and don't miss the key dates and end up with extra work or penalties.
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Sunday, April 01, 2007
OFT announces 'quick fix' on bank charges will disadvantage consumers / Personal_Finance / UK Banking
By: Submissions
In response to consumer concerns over bank current account charges, the OFT has today announced an in-depth study of retail bank pricing. This will sit alongside a formal investigation into the fairness of bank current account charges. Full details of the study will be announced in late April, and it is expected to be completed by the end of the year.
This study follows an initial review carried out by the OFT into these charges. The finding of this initial review is that the OFT shares the public concern about the level and incidence of bank current account charges, but it recognises that the application of the general principles it set out in 2006 to the banking industry is not straightforward and that a more detailed examination is needed.
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Friday, March 30, 2007
A dozen devious credit card cons / Personal_Finance / Credit Cards & Scoring
By: Fool.co.uk
A recent review of UK credit cards by fool.co.uk has identified no less than a dozen devious measures by banks to ensnare unsuspecting customers. These traps are designed not only to heap misery onto people in debt, but are also devised to ambush sensible card users.David Kuo, Head of Personal Finance at fool.co.uk , says: “Credit-card companies are increasingly targeting rate tarts and convenience users. In other words, they are picking on sensible customers who always pay their outstanding credit-card debts in full.
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Friday, March 30, 2007
Top up early and see your Cash ISA Grow / Personal_Finance / ISA's
By: Sarah_Jones
ISA holders could earn an additional £594 million by topping up at the start of the tax year
Nationwide Building Society estimates that people in the UK could receive an additional £594 million on their savings and investments by topping up their existing Individual Savings Accounts (ISAs) at the beginning of the new tax year, rather than at the end.
Tuesday, March 27, 2007
Current accounts - an alternative home for your Savings / Personal_Finance / Current Accounts
By: MoneyFacts
Andrew Hagger, head of news and press at Moneyfacts.co.uk, the money search engine comments “Over the last couple of years we’ve seen the emergence of more current accounts offering high credit interest rates, some of which are on a par with the top paying savings accounts.
“Traditionally, people keep their current account for managing their day to day finances and maintain a separate savings account, often with a different institution, in which to hold their savings balances.
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Monday, March 26, 2007
Moneyfacts comments on the Nationwide Building Society 25 year fixed rate mortgage / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, mortgage analyst at moneyfacts.co.uk – the money search engine, comments: “The new Nationwide 25-year fixed rate mortgage is competitive when compared with other long-term fixed rates, particularly for those with a 10% deposit. It comes with a fee of £599 (and a £200 discount for existing members), which is not out of line, especially when you take into account some of the four figure or percentage based fees that we are now seeing for short term deals.Read full article... Read full article...
Monday, March 26, 2007
UK Mortgage fixed Interest rates start to fall / Personal_Finance / Mortgages
By: MoneyFacts
Denise Blake, mortgage analyst at Moneyfacts.co.uk – the money search engine, comments: “Following the shock base rate rise in January, fixed rate mortgages flew off the shelves as consumers rushed to get their hands on existing fixed rate deals before they were pulled. But with base rate remaining unchanged now for the last two months, some level of stability has returned.
“With swap rates starting to fall back, Moneyfacts.co.uk has seen eight lenders reduce their fixed rate mortgages over the last 10 days, some by as much as 0.40%.
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Sunday, March 25, 2007
The Law of Attraction, The Secret, and The Science of Getting Rich Revealed / Personal_Finance / Money Making
By: Submissions
Now that we have a better understanding of the Law of Attraction, it is no surprise why so many people struggle with regards to money. It is been said that "the rich get richer while the poor get poorer". This is actually the Law of Attraction in action. Because the wealthy have money, they often think about how to best use their money and hence they attract more money.
The poor on the other hand often think about their present lack of money and unfortunately, that also attracts lack into their lives. Currently, 96% of the world's wealth is being earned by just 1% of the population!
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Saturday, March 24, 2007
UK Women Become Spendaholic with Unsecured Loans / Personal_Finance / Debt & Loans
By: Submitter
Women in UK incur huge debt through unsecured personal loans which they spend on shopping and fashion.As per the recent research on spending habits of women in UK by price comparison site Uswitch.com
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Friday, March 23, 2007
Pensions - Retirement Planning Made Easy - Fixed Income Investing / Personal_Finance / Pensions & Retirement
By: Roger_Conrad
Fixed-income investing is absolutely essential to protecting and growing your nest-egg - if you know what you are doing.As retirement approaches, your investment horizon shrinks. In other words, the closer you are to retirement, the less chance you want to take that you could lose a sizable portion of your investments. You want to more aggressively protect your assets from the stock market's volatility. Many advisors suggest that people at this point begin increasing the bond portion of their portfolio to 50% or more to lower their overall investment risk.
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Friday, March 23, 2007
Tread carefully with low rate high fee mortgage loan combinations / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, mortgage analyst at moneyfacts.co.uk – the money search engine comments: “During the last month we have witnessed the continuing trend for lenders to launch low rate high fee mortgages. But as fees rocket skywards, is there still a place in the market for low rate high fee products? And who benefits from these deals?
“The trend just highlights how some lenders and consumers are still keen to focus on interest rate, not the whole package. It is worrying that consumers may be duped into these deals, thinking they are getting the best possible rate, without realising the financial impact of such a large fee.
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Thursday, March 22, 2007
Credit card providers still clawing back lost fee income…. / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
Michelle Slade, personal finance analyst at Moneyfacts.co.uk – THE money search engine, comments: “Almost one year on from the OFTs response to tackle ‘excessive’ default fees, the credit card market still remains unsettled. Battling with rising bad debts, Bank of England rate increases and a huge loss in revenue from the capping of default fees, credit card providers have been forced to look for other ways to maintain their income stream.
“In the last two weeks alone, six credit card providers have made major changes to some or all of their cards. Changes range from interest rate increases, by as much as 10% (on cash transactions), to shortening of interest free deals. If you delve further into the small print of their terms and conditions, cash withdrawal fees and foreign usage charges are rising, but perhaps the sneakiest of all is the requirement to make purchases as part of a 0% balance transfer deal.
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Wednesday, March 21, 2007
Gordon Brown's Budget 2007 - Basic Rate Income Tax cut to 20p! / Personal_Finance / UK Tax & Budget
By: Sarah_Jones
Gordon Brown delivered his 11th and final budget, these are the key highlights
Personal Taxation & Allowances
- Basic Rate Income Tax cut from 22p to 20p (April 08)
- 10% Tax Band abolished - Will mean low earners pay more tax.
- NI upper limit raised £37,440 (April 08) - A large tax rise for middle class.
- 40% Tax band threshold raised from £38,000 to £43,000 (April 09).
- Further £1 billion to be spent on working tax credits.
- Pensioners - Guarantee to rise to £130 per week by 2010.
- Pensioners - TAx free allowance for under 75's to rise to £9,770 by 2011. And £10,000 for over 75's
- Child Benefit to rise from £17.45 to £20 by 2010.
- Childcare cash back will rise from 70% to 80%.
Wednesday, March 21, 2007
Individual Savings Accounts (ISAs) becoming more complex - Not such an easy ISA / Personal_Finance / Savings Accounts
By: Sarah_Jones
Rachel Thrussell, Head of savings at moneyfacts.co.uk – the money search engine, comments:
“As the end of another tax year approaches, banks and building societies have been stepping up their efforts in an attempt to capture their slice of the huge ISA market.
“When the Mini Cash ISA was first introduced in 1999 as an easy tax efficient way to save, the majority of ISAs were straightforward, either instant access or notice and occasionally with an introductory bonus.
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