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Choose the best personal finance products to make your money go further

Published: 24/11/2009

 

There’s no getting away from the fact that the recession is still hitting many of us where it hurts, in the wallet!
But even though many of the banks and building societies are offering credit cards, savings, current accounts and insurance deals that are pretty run of the mill, there are still some top notch products out there that are a cut above the rest.
 
So, if you’re looking to knock your finances into shape and get a few more pounds in your pocket, it certainly helps if you have some of the most competitive financial products to help you along the way.
For example the Virgin Credit Card offers 0% on balance transfers for a table topping 16 months. As well as being the longest interest free balance transfer card on the market, it also offers the flexibility to allow the balance transfer to be paid into your current account, enabling you to repay expensive overdrafts and loans as well as other credit and store cards.
 
If you’re looking to switch your credit card borrowing to 0% in January as part of your new year’s resolutions, it’s probably best to get your application in now, so you’re already to go come January 1st.
 
Once you’ve got your credit card sorted, maybe it’s time to turn your attention to your current account. If you’re one of the many people still remaining loyal to the account you opened when you left school or started your first job, it’s time to start looking after number one and opening an account that gives you something in return.
 
If this sounds like you,  check out the multi award winning Alliance & Leicester Premier Direct account where you get credit interest of 6% AER and a 0% overdraft for the first 12 months – how does your existing current account compare?
 
Whilst we’re on the subject of borrowing money, interest rates on personal loans have increased by around 2% since the onset of the credit crunch with the average rate now standing at over 12.4% APR.
 
However it’s not all bad news, for example you can still borrow money from as low as 8.0% APR typical for Nectar card holders with Sainsbury’s Bank where a loan of £7,500 over three years will cost you just £153.20 per month.
 
If you want to check other low rate loan providers on Moneynet.co.uk, just click http://www.moneynet.co.uk/Loans/Personal-Loan
 
If you’re not in a position where you need to borrow money at the moment, don’t worry, you can still improve your finances by switching your savings for a great rate.
 
The Post Office is currently offering the highest paying account for a one year bond, fixed at an excellent 3.70% for a full 12 months. If you’re happy to put your money away for a little longer, you can get a best buy 4.25% with Birmingham Midshires for a 2 year deposit.
 
If it’s a variable rate savings account that you want, take a look at the High 5 account from Investec, currently paying 3.36% gross
 
To find a savings account that meets your own personal requirements, we give you the option search the whole market here http://www.moneynet.co.uk/Banking-Saving
 
Whilst switching products will take a little bit of effort on your part and a few minutes of your time, the financial rewards are not to be sniffed at.
 
You’ve worked hard enough for your money, so isn’t it time that you made it work equally hard for you in return?

 

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