Category Archives: Save Money

Register by 26 November to vote in December’s general election – here’s what you need to know

The election will take place on Thursday 12 December, but you only have until Tuesday 26 November to register to vote in the general election if: You’re a British, Irish or Commonwealth citizen aged 18 or over who is currently living in the UK. You’re a British citizen aged 18 or over who’s living abroad and has been registered to vote in the UK in the past 15 years. Simply being eligible to vote doesn’t mean you’re […]

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‘I got a PPI reclaim of 2p’ – is this the smallest reclaim ever?

Usually, MoneySavers tell us of their mis-sold PPI reclaims for £1,000s or £10,000s – we even heard from a businessman who reclaimed almost £250,000 – but Londoner Debbie Gillbert got in touch as she was so shocked to receive a cheque for 2p. She put in a PPI complaint earlier this year to MBNA for a credit card she took out over 15 years ago. She couldn’t remember the details of the card or PPI she’d taken out, so […]

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Should a retiree borrow to pay rental property expenses?

Q. I have an investment property that I rent out. Now that I’m retired, I would like to use the income to supplement my retirement income. That would leave me with no money to pay the expenses on the property (mortgage payment, maintenance, utilities, etc.). I’m wondering two things: One, can I borrow all my expenses from my personal home equity line of credit (HELOC), thereby making all of the expenses and interest tax deductible? And, two, […]

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National insurance number delays hit 16-year-olds trying to beat Help to Buy ISA deadline

HMRC, which estimates that it issues up to 60,000 juvenile NI numbers each month, told us that delays to automated letters started in May as a result of a change to its processes. It says that since 5 September “the problem has been fixed”, though it wasn’t able to tell us how many NI numbers were delayed in total or how many recent complaints it’s had about the issue. An HMRC spokesperson said: “Following a change in […]

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How to prepare for a lost wallet: a step-by-step guide

Although she’d always been very careful about documents such has her birth certificate, social insurance number card and passport, on the day of the move she put all three in her wallet. “I thought they would be safer with me than in a box with the moving company,” Kesteloot recalls. “Never in a million years did I think that in two seconds of turning my back to pick something up off a shelf that somebody would reach […]

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Hundreds of thousands to get pay rise as ‘real living wage’ increases

What does the Living Wage Foundation say? Living Wage Foundation director Katherine Chapman said: “In this time of uncertainty, today’s new living wage rates give a boost to hundreds of thousands of UK workers. Good businesses know that the real living wage means happier, healthier and more motivated workers, and that providing workers with financial security is not only the right thing to do, but has real business benefits. “This year, for the first time cities and […]

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Debt consolidation: What you need to know

Historically low interest rates have motivated Canadian consumers to take on additional debt in recent years. Bloomberg Businessweek reported in March 2019 that Canadians are “Feeling the Debt Burn,” as the ratio of household debt to gross domestic product was at a staggering 100.2%, well above nations with similar economies in the study. Excess debt is creating tremendous stress in households across the country—but there are solutions available to address overwhelming debt. Healthy borrowing First, let’s distinguish […]

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Tesco Clubcard Plus launches – here are the full details

Martin: ‘Tesco has seen the power of Amazon Prime and decided it wants a taste of that’ Martin Lewis, founder of MoneySavingExpert.com, said: “Almost certainly Tesco has seen the power of Amazon Prime and decided it wants a taste of that. “One set of US research showed Prime members tend to stick with Amazon, and are eight times less likely to shop elsewhere in a session. This means they spend far more money. In fact, it’s likely […]

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Government’s universal credit ads banned

Why were the ads banned? Defending its claim that people moved into work faster under universal credit, the DWP said claimants were 4% more likely to have been employed at some point in the first six months of making their claim than those on legacy benefits. It said the ads contained additional information which included the terms and conditions for paying back advance payments, although added it was not possible to convey “all qualifying criteria”. The Advertising […]

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“Help! My RRSPs are all over the place”

As Canada’s financial services sector expands to include new online banks, credit unions, robo-advisors, brokerages and more, so does the likelihood that you have a ragtag number of Registered Savings Plans with multiple institutions. For example, you may have set up an employer-sponsored plan at work, opened a GIC* on your own to make a quick contribution before that tax year’s deadline, and invest in another RRSP through your financial advisor. While in some sense this falls […]

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