Research from credit experts TotallyMoney and MoneyComms reveals how just making minimum repayments on credit card balances costs customers thousands in interest and takes over two decades to clear.

  • Only making the minimum repayment each month will take over 26 years to clear a credit card balance
  • Customers expected to lose a staggering £3,775 due to interest
  • Fixing monthly repayments to the first minimum repayment amount will save £2,367 in interest
  • Just a mere 1 in 5 know about the dangers of the minimum repayment trap* 

The shocking figures are based on only making the minimum repayment on a credit card balance of £2,604†, with a fixed interest rate of 19.9%APR‡.

Worryingly, the anticipated interest costs will be even greater for those customers stuck with a higher annual percentage rate.

Furthermore, a staggering 80% of people are unaware of the dangerous trap they could fall into by only making minimum repayments, leaving them with debt that will take over a quarter of a century to clear.

Small change, big win

The credit experts advise that one way to avoid this pitfall is by paying a slightly larger, fixed amount each month.

For example, if the first minimum repayment on a £2,604 credit card balance is £66, setting the monthly repayments at this thereafter, while the outstanding balance continues to decrease, could avoid customers from paying an extra £2,367 in interest.

Moreover, this payment plan means it will take just over five years to pay off the balance — more than five times faster than the 26 years it will take to clear the same balance when only making minimum repayments.

Alastair Douglas, CEO of credit experts TotallyMoney, comments:

“While it’s alarming how much money people can save by making one small change to their repayment habits, especially as figures suggest there’s over £580 million lost in interest charged each month, it’s even more concerning how many people don’t know how making only the minimum repayment impacts them.

“It’s understandable that in certain months customers can only afford the minimum repayments, and sometimes it may be tempting to make a smaller repayment to keep as much cash in the bank as possible. However, the figures show this is an incredibly expensive option.

“And that’s just the tip of the iceberg. Many will pay even more interest on their credit card balance if they have a higher annual percentage rate.

“At TotallyMoney, we’re on a mission to improve the UK’s credit score and help people move on up to a better financial future. It’s important people are aware of the small change they could make to their repayment habits, as this will help them clear their debts and become debt-free quicker.

“To help people avoid being stung by interest costs, here are my top three tips.”


1)    Move your debts to a balance transfer card

If you’re currently paying interest on a credit card balance, you could transfer it to a balance transfer card. These cards let you pay off the balance over a certain amount of time, with no interest. There’s often a small transfer fee, which is worked out as a percentage of how much you transfer, but this is usually much less than what you’d pay in interest otherwise.


2)    Use a 0% interest purchase card 

These cards come with a period of interest-free spending. That means you can make a large or unexpected purchase, and clear the balance over a set number of months — without building interest.


3)    Consider getting a personal loan 

The next time you need to borrow money, you may find that a personal loan is a better option for you. With a personal loan, you’re told upfront the fixed amount you’ll have to repay each month, as well as its total cost over the length of the loan. You should avoid payday loans though, as they have very high interest rates, making the total cost of borrowing very expensive.

With any card or loan, it’s always best to check your eligibility on sites such as TotallyMoney before you apply. This lets you see how likely you are to be accepted for what you want, reduces your chances of rejection, and helps protect your credit rating.


* TotallyMoney annual Financial Awareness Survey [conducted by OnePoll. 2,000 UK Adults December 2018]

† Average credit card debt per household: The Money Charity [October 2019]

‡ Average interest rate figure of 19.9%APR: Bank of England [December 2019]

Calculations made using the CardCosts calculator [January 2020]

Credit experts TotallyMoney have advised that those booking holidays could protect themselves under Section 75 of the Consumer Credit Act by using a credit card, meaning customers could get their money back should something go wrong. The advice comes at a pivotal time for holiday makers with Flybe at risk folding, following the devastating collapse of Thomas Cook and WOW Air last year that left hundreds of thousands massively out of pocket.

  • Section 75 of the Consumer Credit Act protects all credit card transactions between £100 and £30,000
  • An estimated 5.2 million* Brits will book holidays this January, yet almost a third (29%) of consumers don’t realise Section 75 covers them at all
  • More than half (55%) aren’t aware they’re protected by Section 75 for the cost of a hotel when booking directly
  • A third (34%) falsely believe that Section 75 covers PayPal transactions over £100

With many people left in the dark last year about if and how they’ll get a refund, customers can live safe in the knowledge that they’ll be able to get a refund under Section 75, providing the Debtor-Creditor-Supplier (DCS) Link isn’t broken.

This means the exchange of money between the customer, the credit card company, and the service provider must be maintained. Section 75 therefore wouldn’t apply when the DCS link is broken, which happens when using third parties, such as a travel agent.

Alarmingly, booking a holiday through a travel agent doesn’t cover customers if the operator folds. Customers should therefore confirm their holiday is ATOL-protected if booking through an agent.

Choose credit, not debit

Those booking their holidays directly, however, should be aware of Section 75 and its benefits before they do, to avoid being left short in worst-case scenarios.

TotallyMoney CEO, Alastair Douglas, comments: “In a world where things can often go wrong, Section 75 is a safety net. The trouble is, many don’t realise it exists.

“With great deals in January and many suffering from post-Christmas blues, it’s easy to see why people are keen to book a holiday. However, having something go wrong while away — during what’s often the highlight of your year — is an awful situation to be in.

“If it so happens you can’t jet off, or worse yet, you’re stuck and can’t get home, you can be left feeling like there’s nothing you can do. Section 75 adds an extra level of security that can really help.

“It was disheartening last year to see so many families stranded and out of pocket when Thomas Cook collapsed. If something like this happens again, being covered by Section 75 means you can contact your credit card provider to claim a refund.

“At TotallyMoney, we’re on a mission to improve the UK’s credit score and help people move on up to a better future. Not only could responsibly using a credit card improve your credit score, but being covered by Section 75 could also improve a situation that might otherwise be financially very stressful.”


Section 75 Top Ten Tips

To make sure you’re never caught out, here are 10 things to know about how Section 75 can help you when booking your next getaway.

  1. Limits on claims

Individual items and purchases costing more than £100 and up to £30,000 are covered under Section 75. So whether it’s a cancelled flight or an all-inclusive family holiday and the company goes bust, as long as you paid on credit card, you could be reimbursed the full amount.

2. We’re talking credit, not debit

Section 75 doesn’t cover anything bought using a debit card. Chargeback protection is as good as you’ll get with debit.

3. They’re bust. You’re not broke

Buying from a company that goes bust before they deliver doesn’t mean your money’s lost. Section 75 requires credit card companies to get your money back.

4. Pay a deposit, get full value cover

When a deposit is needed for a holiday, use a credit card — even when the deposit is less than £100. Should anything prevent you from settling the balance (like the airline collapses), Section 75 lets you claim the full amount. Not just the paid deposit.

5. Pay part credit and part cheque, get full value cover

The same goes if you decide to pay part of the balance by credit card and the rest by cheque. Consumers can reclaim the full value of the qualifying goods and services even if the total balance wasn’t paid using a credit card.

6. Stay protected on closed cards

Say you buy a holiday, close the credit card you bought it with, but something goes wrong that’s not your fault, Section 75 means you can still make a claim.

7. Extra expense cover

If you book a holiday and the flight is cancelled, through Section 75 you could claim back additional accommodation and food expenses, providing those consequential losses were reasonable.

8. The Section 75 loopholes

Buying through a third party (like travel agents), additional cardholder purchases, or cash that’s withdrawn from your credit card won’t offer Section 75 protection. You need to have paid the company directly (so purchases made through PayPal, for example, aren’t covered).

9. Section 75 applies to all credit cards

When it comes to Section 75 there’s isn’t one rule for one credit card company and something different for another. All credit cards come with Section 75 benefits.

10. The claims process

First port of call: the service provider, for example the airline or hotel (depending on the situation). Failing that, go to the credit card company — this might be your bank or building society, not Visa, Mastercard or AMEX. They’ll get you to fill out a claim form and voila! Your money is back where it belongs.

RoosterMoney, the pocket money app, reveals that kids received a new high of £273 pocket money (£5.25 a week) last year, up 7.5% from 2018, and encouragingly they saved 38% of it. This is in stark contrast to the latest statistics showing adults are only managing to save 6.8% of their income.

Children are picking up lasting money habits as young as 7 years old, and RoosterMoney is showing that a strong pocket money routine is a great way to build positive money habits early on…


  • 74% of parents gave regular pocket money last year
  • Average weekly allowance is £5.25 (£273 a year), up 7.5% from £254 in 2018
  • Kids received £49 in cash gifts this Christmas
  • Most lucrative chores are ‘Mowing the lawn’, ‘Washing the car’ & ‘Gardening’
  • Most popular things to save for are Lego Sets, Phones & Nintendo Switch
  • Of all money earned, average saved is 38%


Will Carmichael, RoosterMoney CEO says: “44% of what we do every day is said to be put down to habit – so seeing these savings habits develop so early is extremely encouraging. Starting to engage your kids with money early by creating teachable moments around the home can help cement positive habits that last a lifetime. The New Year is a great time to kick start a pocket money and saving routine to encourage your kids to make considered choices about how they use their money.”

You can read moretop tips on teaching kids about money here:

Open Banking has the potential to improve the way in which consumers manage their finances. However, two years on from its introduction, Which? has found nearly three quarters (73%) of people still haven’t heard of Open Banking.

Of the just over one in four people (27%) who had heard of Open Banking, only 4 per cent have used an Open Banking ‘account aggregator’, allowing them to view multiple financial accounts in one app.

The research also found that nearly seven in 10 people (65%) are unlikely to consider sharing their financial data even if it meant that financial products and services were more tailored to their needs.

The main reasons for being unlikely to share financial data were:

  • ‘I am happy with my current banking arrangements so don’t see a need for an Open Banking product’ (64%)

  • ‘I am concerned about the security of my personal/financial details when shared with a third party’ (41%)

  • ‘I am concerned about data privacy’ (41%)

  • ‘I am not prepared to share my data with third parties’ (40%)

  • ‘I prefer just to deal with my own bank’ (27%)

Which?’s view:

  • Open Banking has the potential to improve the way in which consumers manage their finances, however vital protections over data breaches and scams must be in place.

  • Industry must work to deliver useful and innovative products and services for consumers if Open Banking is to be a success.

  • Banks and regulators must have in place robust measures and provide the necessary assurances for consumers over their data privacy and security.


Jennya spokesman for Which?, said:

“By giving consumers greater control over their finances and more choice over the products and services they use, open banking has the potential to be revolutionary. But two years on, huge numbers of people are still in the dark over what open banking is, or are reluctant to use it.

“If open banking is to ever be a success, regulators and industry must do more to deliver services with clear, tangible benefits for consumers, and demonstrate that customers are properly protected from data breaches and scams in order to boost trust in these services.”

This January will be the most popular month for people to book holidays for the coming year according to new research from Sainsbury’s Bank Travel Insurance. The study indicates that around 6.4 million people across the nation are looking to book getaways then.

More than three quarters (76%) of UK adults will go on holiday in 2020, spending an average of £757 each per getaway. Cruises are the most expensive type of holiday with these holidaymakers planning to spend an average of £1,650 each.

Sun, sea and sand is the biggest draw for UK holidaymakers with 40% choosing an overseas beach holiday this year. The other most popular vacations are overseas city breaks (28%), UK city breaks (24%), UK seaside holidays and UK countryside and walking holidays.

Average cost of the most popular holidays
Holiday type Cost per person (£)
Overseas beach holiday £1,039
Overseas city break £588
UK countryside/walking holiday £380
UK city break £356
UK seaside holiday £347

Although holidaymakers are willing to spend significant sums on heading overseas, a fifth will not be buying travel insurance. A further 22% will only buy their travel insurance in the week before they travel. These statistics are concerning in light of Sainsbury’s Bank insurance claims data which found a typical travel insurance claim was £631 in 2019, nearly the average cost of the holiday people said they were planning.

Sainsbury’s Bank’s travel insurance claims data shows that half of all claims were due to medical expenses, 20% for lost or stolen personal possessions and 15% for cancellation, meaning travelling without insurance is a big risk to take when travelling abroad.

Jason King, Customer Director at Sainsbury’s Bank, said: “Booking a holiday at the start of the year will certainly help chase away those January blues. Taking it easy is one of the biggest draws of a holiday, however unexpected events can happen. Think about what kind of travel insurance policy you need as soon as you’ve booked your holiday.”

Sainsbury’s Bank top tips when buying travel insurance

Single trip vs annual cover. How many holidays do you typically take in a year? Even though you may only have one holiday booked now, if you usually jet off later into the year it may be cheaper to buy annual cover.

Consider any medical conditions. Ensure you declare any medical conditions you may have and whether you may need to add on medical cover for pre-existing conditions.

Get cover for adventures. If you are heading to the ski slopes, make sure you have winter sports cover should you be involved in an incident.

Check for offers and discounts. When shopping around for insurance, make sure to take advantage of offers. Sainsbury’s Bank Travel Insurance offers up to 20% off for Nectar members.

Holidaymakers can find out more online at

Research by credit experts TotallyMoney and MoneyComms warns that lenders are putting the squeeze on introductory 0% interest cards for balance transfers. Consumers looking to take charge of their debt in the new year may struggle to find a deal that lasts long enough to clear their debt interest-free.

The maximum term for interest-free transfers has been slashed 32.6% in just two years, from 43 months (Jan 2017) to just 29 months (Nov 2019).
An average drop from 25 months of 0% interest (Jan 2017) to just 17.9 months (Nov 2019) – down 28.4%.
January is the busiest month for balance transfers. Last January, consumers made 701,000 transfers, worth £1.541 bn.
0% balance transfers continue to outweigh the transfer fee, with the average consumer transferring £2,200.* They would ‘earn back’ a one-off fee of 3% (£66) in just seven weeks† of zero interest rather than paying 19.9% APR.

The research shows lenders are shrinking the balance transfer honeymoon period, after which the enticing 0% interest rate disappears and a much higher rate kicks in.

It suggests lenders are eager to recoup their money in less time, but that leaves consumers at risk. If they don’t pay off their debt by the deadline, they could incur punishing interest rates that trap them in a cycle of debt.

Resolution solution

Customers seeking the best 0% deal to ring in 2020 should move fast — before lenders cut the honeymoon period even further.

Every January, consumers resolve to take control of their finances. In January of the last three years, consumers made over 700,000 balance transfer deals, adding up to over £1.5bn.

Whether they’re tightening their belts after Christmas spending or simply trying to regain control of their finances, 0% offers can help, if used sensibly.

Time is money

Despite one-off fees and fewer months at the 0% rate, balance transfers are still worth considering. The average consumer would save the cost of their transfer fee in just over seven weeks† of not paying 19.9% APR — and still enjoy months of additional savings from zero interest charges.

However, despite today’s average term of 17.9 months with zero interest being tempting, it is significantly lower than before.

Just two years ago, credit card companies granted up to 43 interest-free months, but today’s maximum is just 29 months. That could mean 15 extra months of paying interest, a cost of £621.87†.

Pressure cooker

With fewer months at the 0% rate, consumers now have less time to pay off debt without penalty.

The stress of rising debt is only part of the problem. Many people rely on 0% borrowing just to stay afloat. The reduction in 0% deal terms could be a ticking time bomb for some consumers.

Even though the 0% market is less attractive as interest-free periods shrink, there is no let-up in demand, with over half a million transactions each month, valued around £1.2 billion.*

Alastair Douglas, CEO of credit experts TotallyMoney, comments: “Many consumers act decisively to take control of their finances as the new year begins. Transferring their balance to a 0% card can help them ‘catch up’, giving them time to pay off their balance without spiralling interest charges.

“This year, with lenders squeezing the number of months they offer a 0% introductory rate, customers will be under pressure to pay off their debt more quickly. They need to be even more savvy about finding the right deal, to get the maximum breathing space, free from interest charges.

“Those looking to get a balance transfer card should start by checking their eligibility. They will learn how likely they are to be accepted, and prevent damage to their credit rating as a result of being rejected.

“At TotallyMoney, we’re on a mission to improve the UK’s credit score. Checking your free credit report is the first step towards making sure your score is as good as it can be. With this, you’re much more likely to get better balance transfer offers, helping you get on top of your debt and move on up to a better financial future.”

5 balance transfer tips to save you money

1. Check your eligibility
Get a free credit report and discover your Borrowing Power. You’ll see how likely you are to be accepted for balance transfer cards, saving time and avoiding a knock to your credit score from being turned down.

2. Never miss a payment
Set up a direct debit to avoid negative consequences such as penalty fees or credit score damage. Missed payments could even make your 0% interest rate disappear. You’d have to start paying interest immediately on the remaining balance, probably at an uncompetitive rate.

3. Don’t spend or make cash withdrawals

Don’t be tempted to use this card to buy anything. The 0% deal is only valid on the balance moved. All new purchases will be charged interest — and the rates tend to be quite high.

4. Never outstay your welcome
Clear your debt before the 0% interest deal ends, or move it to new balance transfer card. Otherwise, your remaining balance will start to incur interest charges, often at a high rate.

5. Check transfer limits
You can usually move debts from multiple cards onto a single balance transfer card. The amount you transfer must be within the credit limit on your new card, minus the fee. Typically, you can transfer up to 95% of your credit limit. Weigh up how much debt you need to pay versus the credit limit you are likely to be offered.

23 Dec 2019 A record-breaking number of transactions are being processed in the run up to Christmas as shoppers rush to finish last minute shopping. Since Black Friday, NatWest customers have spent £11,816million. This is coupled with a record number of fraud attempts, with NatWest flagging and preventing 39,181 fraudulent transactions, preventing debit and credit customers from losing over £11.64million.

Over the Christmas shopping period from 29 November to 19 December, just under 310million credit and debit card transactions have been processed. This is an increase on last year which saw 251million transactions over the same period. 

Jason Costain, Head of Fraud, NatWest said: “We’ve just seen one of busiest shopping weekends of the year and we have been working around the clock to keep our customers safe and secure.

At this time of year customers should also be extra vigilant of scams and if a deal looks too good to be true it probably is.”

To help prevent fraud and scams, NatWest recommend following some of the tips below.

  1. If a deal looks too good to be true, it probably is.
  2. Be aware of counterfeits on social media. If the price is far lower than usual and from a retailer you hadn’t previously heard of, it’s likely to be a scam.
  3. Using your credit or debit card to pay offers you significant protection from fraud and poor-quality goods. If you are asked to send money direct to the bank account of the seller, be careful – this could be a fraudster.
  4. A padlock on a website URL means it’s encrypted for payment but still be cautious, goods might not be genuine even though your details are safe.
  5. Be on alert for bad spelling and grammar mistakes or phrases that don’t sound quite right.
  6. Banks never ask for personal or private information over text or email. Delete suspicious messages and report to the bank on a number you can trust.

More information on how to avoid becoming a victim of a scam can be found at by searching security centre.

19 Dec 2019 New research from Charter Savings Bank reveals that parents are collectively spending £2.45 billion on stocking presents for their children this Christmas, with parents splashing out an average £108 on stocking fillers during the festive season.

The growing spending on stocking fillers highlights the enduring importance of the Christmas stocking tradition – just one in nine parents say they have never given stocking presents to their youngest child. Parents say that when they were children one in six didn’t receive stocking presents.

The nationwide study shows one in three parents (34%) intend to keep giving their children Christmas stockings no matter what age they are and around one in 12 (8%) of parents admit they still receive Christmas stockings themselves. However the average age when stockings stop is 15.

The spending going into Christmas stockings is nearly half the amount for main presents as parents budget for around £226 for children on main presents.

Charter Savings Bank’s study shows that first-born children are the winners on Christmas morning compared with their younger siblings. Parents budget for £169 on stocking fillers and main presents for their first-born child and £163 on their second born child.

Men are more generous than women if they are buying the presents – on average they claim they’ll spend £129 on stocking presents and £250 on main presents which at £379 is 26% more than women on £301.

Despite spending £108 already on stocking fillers, a third (31%) of parents plan to spend more this Christmas. The reasons vary – for some it is because their child’s taste has become more expensive as they’ve grown (36%) while for others it is because they themselves have more money at their disposal.

For one in 10 it is because they want their children to think they have been well behaved as they still believe Father Christmas leaves their stocking.

A fifth (19%) of parents, however, are planning to cut back on stockings this Christmas, mainly because their children no longer want them (41%) although for some it is because they have less money (29%). One in seven (15%) want family Christmases to become less materialistic.

Table one: Reasons why parents increase and decrease spending on stocking presents

Parent’ s reasons for increasing spending on stocking presents Percentage who agree with this
As my child(ren) has grown their taste has become more expensive 36%
I have more money at my disposal 31%
I want my child(ren) to have more presents to open 16%
My child(ren) expects both expensive stocking presents and main presents 12%
My child(ren) prefers stockings to their main Christmas present 10%
My child(ren) believes their stocking was delivered by Father Christmas and I want them to think they have been well behaved 10%
Parent’ s reasons  for decreasing spending on stocking presents Percentage who agree with this
My child(ren) no longer wants a Christmas stocking 41%
I have less money now and can no longer afford to spend the same amount of money 29%
I prefer to spend more money on the main Christmas present 19%
I want family Christmases to become less materialistic 15%
I don’t want to have to dip into my savings 8%
I have had more children and have had to cut down on how much I spend per stocking 5%

Christmas can, however, be a time of financial strain for families, with 50% of those who celebrate admitting they have had to dip into their savings. Over a quarter (27%), some 13.1 million, have to take money from their savings every Christmas to be able to afford the festive season. A further 11.4 million (23%) sometimes have to use savings, but not every year.

Paul Whitlock, Executive Director, Charter Savings Bank said: “Opening a stocking is an exciting part of Christmas morning and it seems parents are going above and beyond to provide both stocking fillers and presents under the tree.

“Christmas is an expensive time of year for everyone, especially for parents who seem to be spending more and more on making sure their children have the perfect Christmas.

“Savings are there to be used if needed and it is so important to start saving as much as possible from as early as possible, so you have a safety net when life does become expensive.”

In a bid to find the perfect Christmas present, a quarter of Brits have been victims of fraud when shopping online on websites or online marketplaces they wouldn’t normally use. Whether it’s searching for the next ‘it’ toy, rare sport memorabilia or unusual item of jewellery, people are losing money to fraudsters.

Shoppers have lost an average of £203, but for some the financial hit is bigger with 13% of people left between £300 and £1,000 out of pocket. The average loss is also considerably higher for men, at £255, compared to women, £139. It’s the 25-34-year-old age group which is the most likely to experience fraud at Christmas.

Most people who are targeted by fraudsters find that they receive faulty items, or never receive the item in the first place. Of the unlucky shoppers, only half are able to replace their presents in time for Christmas, while a third (34%) have to buy a different item, and 17% go on to buy a cheaper replacement.

Looking at the items that people buy when they are defrauded, a quarter were shopping for electronics and a fifth bought clothes and toys. Over one in ten victims were defrauded when buying holidays and flights online.

Shieldpay’s patent pending payments process mitigates the risk of online shopping fraud by fully verifying the identity of all parties, holding funds securely and only releasing them once both parties confirm they are happy.

Tom Clementson, Director of Consumer at secure payments solution Shieldpay, said: “The stress and cost of Christmas shopping is enough without the added risk of receiving fake or faulty items. Unwitting shoppers are losing hundreds of pounds, lured into the array of festive offers and knock-off prices and falling straight into the hands of fraudsters. Scammers up the ante at Christmas time, targeting shoppers who find themselves stumbling onto unfamiliar websites. Thanks to the troubling scale of phoney sellers and counterfeit websites, there needs to be better protection for consumers who shop online.

“Banks and retailers have a duty to safeguard their customers, but shoppers can also be on the lookout: requests to pay via bank transfer, spelling errors and fake information are all red flags. Another way to ease the worries of consumers is to utilise technology that secures transactions. That way, money will not be released until both the buyer and seller are happy.” 

16 Dec 2019 The average household now has £38,000 worth of belongings; an increase of almost £3,000 in the last four years, according to analysis from home insurance provider, buzzvault. Total physical wealth – the value of household contents, possessions and valuables owned – for all households in Great Britain has rocketed to £1.3 trillion, up £185 billion in the same time period.

Analysis of the latest ONS Wealth and Assets survey from the home insurance provider reveals the South West has seen the biggest increase in the value of household contents, rising £8,000, or 20%.  Over one in ten (13%) households own ‘collectables or valuables’ such as antiques, artwork or stamps, Around one in six households (15%) own between £50,000 and £75,000 worth of goods.

While challenging economic conditions have caused consumers to approach shopping with caution, higher employment and continued growth in earnings have kept the tills ringing. The ease of online shopping and the ability to receive a new purchase at home within hours of clicking the ‘buy’ button is also a factor: total online spend in the UK is expected to reach over £75bn by 2023.

Becky Downing, CEO and founder at buzzvault, said: “We have more access than ever to the goods we want. A quick scroll online or stroll on a lunch break can lead to us returning home with potentially hundreds of pounds worth of goods, particularly after payday. However, this makes it all too easy to bump up the overall value of our contents without recognising how exposed this leaves us.

“Having up-to-date insurance is important, but so is having a policy that can be adapted as quickly and easily as buying the products in the first place without having to endure excessive fees. Should the worst happen, and you find yourself the victim of a burglary, the last thing you need is for a claim to be turned down because you’re under-insured and new purchases are not covered. Flexible insurance policies can take minutes to sort, and mean you’re not left significantly out of pocket.”