It's that time of year when it's time to renew my house and contents insurance.
The first rule to learn is that in this field 'loyalty does not pay!'
Having banked with HSBC for over 40 years, this year's premium has increased 23% since last year!
Time to log on to a comparison site such as Go Compare, Confused.com or Money Supermarket. Having spent about 25 minutes filling in the online form, I discover that I can obtain the same level of cover for a £100 less!
Do bear in mind that you can also get cash back at sites like Top Cashback, so it's very much a case of working out how to get the best saving, since the highest cash back may only be available on certain policies.
For example, via Go Compare I was quoted a premium of £119 with Admiral. Using the Top Cashback web site, the £70 cash back offer was only available if you took out the Platinum policy at £185 which naturally offered greater cover to include e.g boiler and central heating cover. A simple calculation i.e deducting £70 cash back from £185 gives you a price of £115. This means you are effectively £4 better off and with much better cover.
In effect for less than an hours work, you have benefited to the tune of £100.
Aled Evans
Thursday, 30 March 2017
Tuesday, 21 March 2017
Debt card not Credit card!
Credit cards should be renamed debt cards because unless you pay the debt off in full at the end of each month, you will fall further and further into debt given that the service provider will charge interest of at least 15% on your debt!
You could find yourself in that pathetic situation where at least half of the minimum repayment each month will be evaporated paying the high interest charged!
It is the equivalent of throwing your money on to the fire!
The lesson is only spend what you can afford to pay off in full at the end of each month!
In the good old days, wise people would save up before making a purchase. Given the present financial crisis, we may well have to return to this common sense approach!
Aled Evans
You could find yourself in that pathetic situation where at least half of the minimum repayment each month will be evaporated paying the high interest charged!
It is the equivalent of throwing your money on to the fire!
The lesson is only spend what you can afford to pay off in full at the end of each month!
In the good old days, wise people would save up before making a purchase. Given the present financial crisis, we may well have to return to this common sense approach!
Aled Evans
Only spend after your boat comes in!
👍
Money saving advice thanks to Martin Lewis
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