November 29th, 2023 | Andrew Hagger | News

The scam: Criminals on Facebook marketplace use stolen photos and videos of genuine vehicles, to advertise cars that they don’t own and aren’t theirs to sell.

Having used the stolen photos and videos to convince a buyer to purchase the vehicle, they do not respond or block the buyer after they have transferred over the funds.

Earlier this month Santander fraud investigators found, in just half an hour, 25 ‘sellers’ posting around 4,000 fake adverts on Facebook marketplace.

Volume: Santander data covering January 2023 – September 2023, and January 2022 – September 2022, shows:

• 440 customers have fallen victim to Facebook car scams this year, up 87% from last year. Customers in every age group reported an increase in car scams.
• This year nearly half a million (£479,964) has been reported as lost to Facebook car scams, up 93% from last year.
• People aged 18-25 are the most likely to fall victim to Facebook car scams accounting for a fifth (20%) of all cases in 2023. Over 60s are second most likely to fall victim accounting for 14% of all cases, while 41-45 year olds are third accounting for 12.5% of all cases.
• Over 60s lost the largest sums of money to scammers, with an average claim made for £1,564 so far this year, up from £748.06 last year. 56-60 year olds reported the second largest losses with an average claim for £1,528, while 26-30 year olds were third with an average claim of £1,263.

Chris Ainsley, Head of Fraud Risk Management at Santander said: “Scammers are stealing hundreds of thousands of pounds from people falling foul of car scams on online marketplaces. But people can help put the brakes on these scams by learning the telltale signs of fake listings and doing due diligence before transferring any funds.

“For this particular type of scam the single best thing anybody can do to protect their money is to not transfer any funds until the vehicle is in their possession and they have seen it in person.”

Car scams – how it works:

• You click on an advert for a vehicle you like the look of. Then you start a conversation with the seller.
• They reassure you through their messages that everything’s above board.
• They might even share official looking contracts. Or give details of money-back guarantees.
• They’ll ask you to pay upfront. This may be just the deposit to ‘secure the deal’. But could be for the full amount of the purchase.
• They will ask you tomake payment by bank transfer.
• After you have sent the money the contact stops and the seller disappears.
• You are left without the new vehicle, and you’ve lost your money.

How to protect yourself

Some simple steps can help protect you and your money.

• A photo or video isn’t proof the vehicle exists. Make sure you have seen it and it is in your possession before making any payment.
• Follow the government’s advice on purchasing a used vehicle. This includes completing an HPI vehicle check. This check can give you vital information about the vehicle.
• Buying from a reputable site? If so, stick to their dedicated advice and processes. Especially on ways to pay for your vehicle.
• Research the seller and always read the reviews. Compare several review sites. This helps rule out any fake reviews left by the criminals.

For more information on fraud and scams please visit our website. Take Five also has some useful information on their website.

November 27th, 2023 | Andrew Hagger | News

As shoppers hit the high street in preparation for this year’s festive season, American Express is again encouraging the nation to support local businesses with the return of its popular Shop Small Offer.

From 1-3 December 2023, American Express^® UK Cardmembers will receive a £5 statement credit when they spend £15 or more at participating small businesses across the UK. The Offer can be used up to 3 times, once per participating small business location, meaning that Cardmembers can reward themselves with up to £15 back in statement credits, helping their spending go further this December.

The Shop Small Offer will launch on the eve of Small Business Saturday (which returns on 2 December 2023). American Express continues to be the principal supporter of Small Business Saturday, championing the high street and encouraging the nation to shop small in the run up to the festive season and beyond. New research¹ from American Express shows that 79% of UK adults think it’s important to support local businesses when shopping this Christmas.

Harry Mole, Vice President at American Express, said: “Our research shows there is a strong desire among shoppers to support small businesses which sit at the heart of our local communities. We’re proud to champion them once again with our Shop Small campaign which offers Cardmembers cashback on their festive and everyday shopping, while encouraging all-important footfall on the high street. Over this crucial shopping period, we invite our Cardmembers to show their love for the places that make our villages, towns and cities so special.”

Cardmembers need to enrol for the Shop Small Offer, which they can do from today (17 November 2023), through the Amex^® App or their Online Account. Cardmembers must save the Offer to their Card before spending at the small business in order to receive the statement credit. They can search for participating businesses via the Shop Small Map.

Terms, locations and payment restrictions apply. For full terms and conditions please see here. Offer excludes Corporate and Pre-Paid Cards.

November 24th, 2023 | Andrew Hagger | News

New research from Go.Compare has revealed that people across the UK who will celebrate Christmas  this year expect to spend, on average, £658 this festive season, which represents a 26% increase on last year’s expected spend of £522.20.

The study, which was conducted on behalf of Go.Compare Money, asked more than 2000 people about their financial plans for this festive season and found that almost one in five (18%) believe Christmas is going to be financially difficult this year. A further 18% of those who took part said they will be putting either some, or the majority of their spending on a credit card.

Go.Compare Money’s annual Christmas spending study also revealed that nearly a quarter of people (24%) have been putting money aside throughout the year to pay for the festive celebrations.

Across the age groups, the average spend on gifts, socialising, travel and food will be £658 this year, but it’s those aged between 18-24 who will be splashing more cash than any other, spending an average of £835.30.

When respondents were asked about their concerns for Christmas, nearly a third (29%) said they were worried about their finances and a further 26% said they were worried about paying their bills. Another 25% said they were concerned about paying for the heating this Christmas.

Matt Sanders from Go.Compare Money, said on the findings: “This year’s research shows that, even though people are expecting to spend more this Christmas than they have in previous years, the financial concerns people have around the festive season haven’t changed.

“The increase in the amount people are expecting to spend could be reflective of the rising cost-of-living and how they may have to pay more for the same things – and aren’t necessarily being more extravagant. Either way, Christmas is clearly a big financial concern for many with 18% looking to put some or the majority of their Christmas outgoings on a credit card, many could be spending money they don’t have.”

Matt continued, “There are ways you can save on your expenditure this Christmas and one of the most effective ways is to shop around – whether that’s for groceries, household energy bills, insurances, credit cards or broadband deals – comparing costs can help limit what you pay on essential outgoings. We have put together some practical guidance for anyone who’s concerned about their finances this Christmas:

• First, draw up a budget based on your income and outgoings and stick to it. It will help stop you making impulse buys that you may then have to pay for in the New Year.
•  Research conducted by Go.Compare earlier this year found that, as the cost of living continues to rise, more than half of the UK population are either haggling on their regular bills or intend to do so. Of these bills, broadband and TV packages were the most popular bills to barter on, followed by car insurance, mobile phones, home insurance and energy costs. So, it’s always worth haggling on your bills and with an estimated half of the population already bartering, you could be missing out on significant savings.
• As well as haggling, try to find out when brands and retailers will be having discount days in the lead up to the big day – you may save 10%, 20% or 30% on gifts for your friends and family.
•  Use discount codes on your online shopping. Check out the various websites and bag money off, free gifts and the like, just for buying what you had planned to buy anyway.
•  If you are facing financial difficulties this Christmas, talk to your mortgage provider or landlord as soon as possible to agree a payment holiday or even a new repayment plan. One thing to consider with a payment holiday is that these will be recorded on your credit file and could lower your credit score. You could also talk to your bank about an agreed overdraft and an interest-free overdraft buffer and check with your credit card, loan or car finance provider to see what help is available in terms of a payment holiday or a new repayment plan.

November 23rd, 2023 | Andrew Hagger | News

For the first time ever, British Airways Executive Club Members can earn Tier Points outside of flying, by spending on the British Airways American Express^® Premium Plus Card, thanks to a new, limited-time offer.

Running until 21 May 2024, this offer gives applicable Cardmembers the opportunity to earn an extra 200 Tier Points in the coming months by simply spending on their Card. Tier Points help travellers to earn airline status, which is associated with travel perks such as lounge access, fast-track security, extra luggage allowances and priority boarding.

Until today, Tier Points could only be earned by flying with British Airways, its subsidiaries and its oneworld^® airline partners. This offer marks the first time that Tier Points can be earned outside of flying.

From today, British Airways American Express Premium Plus Cardmembers will be eligible to earn up to 200 Tier Points as follows:

–        100 Tier Points if the Cardmember spends £15,000

–        A further 50 additional Tier Points will be awarded if they spend a further £5,000 (totalling £20,000)

–        A final 50 Tier Points will be awarded if they spend another £5,000 (totalling £25,000)

Cardmembers must enrol for the offer (enrolment closes on 20 May 2024) in their online account. The spending must take place after a Cardmember’s enrolment, and by 21 May 2024, the date the offer expires, to be eligible.

These Tier Points will be added to Tier Points that travellers have already earned, or will earn, from flying, to help them reach British Airways Bronze, Silver or Gold status. Each tier status comes with valuable travel benefits, including:

–        Bronze – requires 300 Tier Points – benefits include free seat selection seven days before flying, priority boarding, the use of business class check in desks and more*

–        Silver – requires 600 Tier Points – benefits include access to airport lounges in the UK and around the world, free seat selection at booking, additional baggage and more*

–        Gold – requires 1,500 Tier Points – benefits include access to First lounges, First class check in and boarding, free seat selection at booking, additional baggage, additional reward flight availability and more*

Nikki Edelman, Vice President at American Express, said: “We know our Cardmembers value the array of benefits that come with their British Airways American Express Premium Plus Card, from Avios to the much-loved Companion Voucher. But we’re always looking for ways to continue rewarding our Cardmembers for their loyalty, with offers and benefits they care about. We hope today’s limited time offer achieves this, providing customers with a new proposition; being rewarded for spending on the Card with Tier Points. This could see Cardmembers earning travel benefits like lounge access, free seat selection or priority boarding from their everyday spending.”

British Airways American Express Premium Plus Cardmembers already benefit from collecting 1.5 Avios for every £1 spent on purchases, or 3 Avios for every £1 spent with British Airways or British Airways Holidays.

Cardmembers can also earn a Companion Voucher when they spend £10,000 each Card membership year on their Card. They can use this to either take a companion with them on the same flight and in the same cabin for no additional Avios or, as launched last year, receive a 50% discount on the Avios price if travelling solo**. Vouchers can be used on British Airways flights or, as of last year, Iberia and Aer Lingus flights. British Airways American Express Premium Plus Cardmembers have access to additional Reward flight seats within Club World (long-haul business class) when booking with a Companion Voucher.**

November 20th, 2023 | Andrew Hagger | News

Introducing the ten credit misconceptions, TotallyMoney CEO, Alastair Douglas comments:

“For decades, banks have kept people in the dark about the information they have access to, how they use it, and why they make the decisions they do. These decisions can have a life-long impact, from scuppering somebody’s chances of getting their first mobile phone contract, to worsening the terms offered when buying their first home.

“The genuine lack of transparency has led to credit confusion, monetary myths, and people having to second guess how the system works. They need access to their own financial data, to be told what it means, and how it works. Only then will everybody have the tools they need to unlock a life of more choices.

“To help set the record straight, we’ve debunked some of the most common myths to help you create financial momentum and make your credit score soar. You can also download the free TotallyMoney app, which can help you better manage your finances and unlock a life of more choices.”

 1. There is no credit blacklist

Two in five (40.9%*) people believe there is a credit blacklist — but the truth is there isn’t one.

Alastair Douglas comments:

“One of the most common, and costly of myths people have been led to believe is there’s a credit blacklist. However, neither you nor your address will find itself on a central database of borrowers excluded by the banks. But if you have slipped up in the past, filed for bankruptcy, or have a CCJ, you might only have access to a limited number of offers. That’s because your information is stored on your credit file, and they might see you as a risky borrower and therefore treat you with greater caution.

 2. Get on the electoral roll

Only 43.1% of adults are aware that being on the electoral roll can impact their credit score

Alastair Douglas comments:

“Being registered to vote can have a significant positive impact on your credit score, but more than half of adults aren’t aware of this. Being on the electoral roll can act as a vote of confidence — because banks can verify who you are and trust you’ll be able to repay what you borrow. Plus, if you’ve been at the same address for a while it can make you appear to be more settled and stable.”

 3. Criminal records aren’t visible

Almost half of adults (46.4%) think that a criminal record could impact their credit score. However, it’s not visible to lenders and can’t impact your score.

Alastair Douglas comments:

“A criminal record won’t directly impact your ability to access credit, but nearly half of adults think it could. And while fines can impact your finances, they won’t be visible to lenders either.”

 4. You’re free to check your report

One in five people (19.3%) wrongly believe that checking your credit report can negatively impact your credit score.

Alastair Douglas comments:

“Your credit report contains the information banks use when deciding whether or not to let you borrow money — and remember, it’s your data and you should never pay to see it or use it. It’s also important to know that checking your report won’t negatively impact your score — in fact, it’s quite the opposite, as people who check it regularly have on average a better credit score. You can also make sure that all the information is correct and up to date, putting yourself on the front foot when it comes to making an application.”

 5. What you earn doesn’t impact your credit score

43.9% of people surveyed believe their earnings impact their credit score — however, how much you earn doesn’t appear on your credit file.

Alastair Douglas comments:

“Two in five adults think that the amount of money they earn impacts their credit score. And while it may give you some more financial freedom, income doesn’t show up in your credit report. However, it will be considered when banks are deciding who to lend to, as they’ll need to be able to make sure that you’ll be able to repay the money you borrow.”

 6. Student loans aren’t seens as loans

One in four (24.3%) of people believe a student loan can impact their credit score — but they don’t.

Alastair Douglas comments:

“Student loans don’t appear on your credit report, and therefore aren’t used by Credit Reference Agencies when calculating your credit score. However, student loans might be considered by banks when running affordability checks, and could therefore impact your ability to borrow. That’s because the lender will need to make sure you’re able to keep up with repayments, and if you’re repaying other loans and credit agreements, you might find it harder to meet any new commitments.”

 7. Seek debt advice without a worry

17% of people wrongly believe that seeking advice can impact your credit score

Alastair Douglas comments:

“There are a number of free, impartial debt advice providers out there, who could help you better budget and manage your money — and the good news is that it won’t impact your credit score. However, debt management plans can show up on your credit file and might impact your ability to borrow because it’ll show that you’ve struggled to keep up with payments before.”

 8. You could be given a different offer to what you applied for

Only 46.2% of people realise they might be given a different credit limit to the one they apply for

Alastair Douglas comments:

“Regulators require lenders to only provide 51% of successful applicants the advertised product. This means you could be offered a very different card to the one you thought you were applying for, including one with lower limits, and higher APRs. However, this can be avoided by looking out for offers which are pre-approved and guaranteed. That way you can apply with confidence and bank on getting exactly what you wished for.”

 9. Avoid using credit cards to withdraw cash

Only 44.3% of people are aware that using a credit card to withdraw money from an ATM can incur added fees and higher interest rates.

Alastair Douglas comments:

“If you need quick cash and are thinking about putting your credit card in the ATM then think again. These transactions come with extra fees, often with a higher APR, and they can make it more difficult to borrow in the future. They can be particularly costly if you’re making multiple, smaller withdrawals, as you could pay £3.46 just to withdraw £10.”

 10. Prepayment meters no longer cost more

More than half (52%) of people believe prepaid energy meters are the most expensive way to pay for your energy — and although they used to be, they’re not any more.

Alastair Douglas comments:

“More than half of adults believe prepaid meters are a more expensive way of paying for energy than Direct Debit. However, on July 1st this year, the government scrapped the prepayment meter premium, making energy fairer for three million households. So while”

November 10th, 2023 | Andrew Hagger | News

HSBC UK is warning consumers they need to double-down on their efforts to stop scammers and be on their guard over the next few weeks, with scammers using the ‘Black Friday’ online shopping frenzy as an opportunity to turn Black Friday into Black Fraud-Day.

While Black Friday is due to take place on 24^th November, offers start to appear online before the day itself. With ‘Purchase Scams’ being by far the most popular type of scam, scammers have the perfect set of circumstances to ply their criminal trade, leaving unwitting consumers disappointed and significantly out of pocket.     

Over the last year, purchase scams have been on the increase. Recent scam data from HSBC UK has shown the average purchase scam carried out between July and September is £894, with the average value per case increasing to over £900 in September. The three-month period between July and September saw the most purchase scams reported so far this year.

David Callington, HSBC UK’s Head of Fraud, warned: “Bargain-hunters need to double-down on their efforts to shop safely, especially before Christmas, which is typically an expensive time of year. While the cost of living challenges are still lingering, retaining or improving our financial resilience should be extremely important, and losing money unnecessarily to a scam could have a significant impact on that.

“Month on month scammers steal millions of pounds through purchase scams, advertising items such as cars, campervans, holidays or tickets to a ‘must see’ concert or sporting event. Both our own data and that of UK Finance shows that the scourge of purchase scams is growing, with scammers content to scam more people with lower value items than specifically targeting victims for higher value frauds.

“Scammers are devious criminals who don’t care about the impact of their crime on the financial of mental wellbeing of their victims. Customers can help protect themselves and their money by taking note of some simple steps.”

HSBC UK has teamed up again with professional magician Troy von Scheibner in advance of Black Friday to highlight some of the tricks scammers will play on shoppers. For an insight into the mind of tricksters, visit our Purchase Scams page on our website’s Fraud and Security Centre. The videos are also available to watch on YouTube.

Advice on protecting yourself from purchase scams:

Purchase scams happen when you’re paying for an item or service. The item doesn’t arrive, or you don’t receive the service and your money is lost.

Typically, these scams:

·         ask you to send money via bank transfer

·         offer a too-good-to-be-true deal or discount

·         have ‘limited availability’, or are a ‘special offer’ to encourage you to act quickly

·         persuade you to send money before receiving a service

·         are advertised on social media or other online marketplaces, or in some cases through legitimate looking websites that have actually been set up by fraudsters

Remember to:

·         use safe sites when shopping online

·         check the returns and cancellations policy

·         research the retailer online to make sure they’re legitimate

·         stop and think – would you be willing to send cash in the post for an item you’ve ordered?

·         research and check the validity of the item before paying – ask to see it if possible

·         approach an independent professional to authenticate the goods or services you’re purchasing

November 9th, 2023 | Andrew Hagger | News

A new study by credit management company Lowell shows that Brits are planning on being more money-conscious rather than impulse buying on Black Friday 2023.

In fact, 45% confess they want to prioritise their financial well-being, and it’s predicted that they will spend £900 million less than last year, with 40% less average spend per person compared to 2022.²

However, with Black Friday and Cyber Monday fast approaching, the promise of reduced prices by retailers on this year’s top tech, best-selling beauty products, and early Christmas gifts, has left almost three quarters (74%) of Brits feeling pressure to spend money during the flash sales to prep for the festive period.

What pressures are people facing to spend this Black Friday?

Despite the rise of inflation influencing 43% of Brits to be more financially conscious over this festive period, others are still feeling the pressure to spend. Almost a third (29%) feel pressure to keep up with what friends and family are buying, whilst a combined 28% feel pressure from advertising on TV and social media to buy in the Black Friday and Cyber Monday sales.

Are people researching for cheaper deals this year?  

Over a quarter of bargain hunters (27%) will be doing their research by monitoring the price of an item before the sale, and only making a purchase if there is a good discount. It’s clear that Brits are being more money-savvy this Black Friday, as just 17% plan to follow influencer recommendations and only one in ten (9%) intend to impulse buy.

Are Brits improving their spending habits for the festive period?

Encouragingly, the number of Brits planning to buy more than is needed over the festive period has dropped from 34% last year, to 30% in 2023, with a third of people (33%) planning to not exchange gifts with their families and friends.

However, with ever-growing inflation and cost increases in the cost-of-living crisis, 32% feel they will still spend more than they can afford in November and December this year, compared to 28% in 2022. To combat this, 15% have admitted they will use second-hand sites such as Vinted and Facebook Marketplace to source their gifts.

With Black Friday falling on what, for many of us, is the final payday before Christmas, it’s all too easy to get pressured into spending more than you can afford in the sales. Lowell recommends considering the following five tips to spend well over Black Friday, Cyber Monday and the festive period:

1. Don’t be impulsive, make a list of the things you need and stick to it. Sticking to your list means that you’ll be saving rather than spending in the long run.

2. If you have a planned purchase in mind there are useful tools online that check how much a product has actually been sold for throughout the year to find its cheapest price.

3. Plan a festive budget to prioritise essentials throughout Christmas, so you know exactly what you have to spend, and how much you need to save to get ahead in January

4. Refer to your budget when feeling pressure from social media, TV adverts, or friends and family so you can give an instant yes or no to buying depending on your allocated funds.

5. Utilise second-hand sites such as Vinted or Facebook marketplace to find your desired purchases before spending on a Black Friday sale.

John Pears, UK CEO of Lowell UK said “It’s encouraging to see people in the UK prioritising their financial wellbeing over the upcoming consumer-driven period.

Although our report shows that many Brits still feel the pressure to spend on Black Friday and Cyber Monday, many people are choosing to be savvy with their money through means such as shopping on second-hand sites or researching for the best deals.

As at any time of the year, we’d like to remind anyone feeling financial pressure to reach out for support, and a list of organisations who can help can be seen at https://www.lowell.co.uk/help-and-support/independent-support/”

For more information about the findings and advice on how to manage finances on Black Friday, visit our blog https://www.lowell.co.uk/about-us/lowells-blog/lifestyle/the-truth-behind-black-friday-spending/

November 6th, 2023 | Andrew Hagger | News

Over 11 million Brits (22%) will play host to friends this Christmas, new research from American Express has found.

The UK’s younger generation are those most likely to host friends, with 27% of 18-34 year olds sharing the festivities with friends compared with 22% of 35-54 year olds and 19% of those over 55.

Immediate family are the group most likely to be hosted however, with 67% of Brits inviting their closest family members to share in the festivities.

The essentials of hosting this festive season

For Brits hosting or being hosted over the festive season, food and drink ranked as the most important factor in having an enjoyable time. Over half of UK adults (52%) highlighted the quality of food and drink as their top priority for festive gatherings.

Keeping friends and family entertained is also seen as important, with 28% wanting to play games or take part in a Christmas quiz, 27% wanting to get some fresh air with a walk and 25% prioritising watching Christmas specials on TV.

Most important factors of Christmas when hosting/being hosted

% of UK adults

Quality of food & drink – 52%

A wide variety of food & drinks – 40%

Christmas games or quizzes – 28%

A walk with family & friends – 27%

Watching Christmas television specials – 25%

A good music playlist – 22%

Christmas jumpers – 13%

Spending for the big day

From decorations, to table settings and festive gifts, there are a multitude of elements that Brits will be spending on to create the perfect hosting environment.

With food and drink crucial to guests’ enjoyment, 21% of Brits say they will buy new table dressings such as flowers, tablecloths and Christmas crackers for their friends and family.

18% of those hosting or entertaining over the holidays will be buying entertainment for their guests, such as board games or films. A further 10% will be embracing hosting; heading to the shops to buy new homeware for those coming to visit, including sofa beds, bedding and toiletries.

Brits are also finding ways to be savvy with their spending, with 42% using purchases they made last year at this year’s Christmas. While gift giving is synonymous with the festive period, over 6 million UK adults (11%) will regift a present that they received as a gift last Christmas.

Harry Mole, Vice Present at American Express, said: “Our research has shown the important role that friends, as well as family, play in celebrating the festive period. As Brits gear up for these celebrations, they are set to embrace their resourceful side, re-gifting and repurposing last years’ treasures. But when it comes to food and drink – a key factor that guests expect from a host – our data found there is little room for compromise.

“As American Express^® Cardmembers get ready for the holiday season and stock up on goodies, they can make their spending go further, earning valuable points, rewards and cashback that should help to bring the festive spirit this season.”

November 3rd, 2023 | Andrew Hagger | News

Go.Compare pet insurance has launched an exclusive deal for pet insurance customers to receive a brand new Ring Indoor Camera when they purchase cat or dog insurance from Animal Friends this November.

Anyone who compares pet insurance with Go.Compare and goes on to buy a policy from Animal Friends (excluding accident only and equine insurance policies) between 1^st November to 30^th November, will qualify for the deal.*

The promotion allows eligible pet owners to get their hands on an indoor camera, worth £49.99, allowing them to keep an eye on their beloved cats and dogs while they are out of the house, giving peace of mind that their pets are safe when they aren’t around.

Ceri McMillan, pet insurance expert at Go.Compare, said of the deal: “As a cat owner, I know myself how worrying it can be to have to leave your beloved pets at home and not know what they are up to. Sometimes you can be stuck in work or just running late and so your cat or dog is left at home for longer periods than you would like and that’s where the reassurance of a gadget like an indoor camera really comes into its own. Through a video feed on your smartphone, you can check up and see that they are safe and well.

“We are a nation of pet lovers, and we definitely are here at Go.Compare, so anything we can do to look after pets and help their owners is a win-win in our book. So, when you come onto Go.Compare’s pet insurance comparison site this month, fill in the online form with in your requirements and your pet’s details, compare the policies on offer and if Animal Friends gives you the cover you want at a price you can afford, then you will get the added bonus of a free pet camera.”

Ceri added: “Eligible customers can expect to receive an email 14 days after the one-month qualifying period from Animal Friends and will receive their unique code for them to redeem their new Ring Indoor Camera.

“It’s a simple as that, and then you can keep an eye on your beloved furry friends wherever you are, and whatever time of the day.”

To compare pet insurance visit: https://www.gocompare.com/pet-insurance/

November 3rd, 2023 | Andrew Hagger | News

New research by ALA Insurance has revealed that over a third of the UK don’t feel comfortable discussing their finances with friends.

The survey which was commissioned to explore the state of the UK’s financial wellbeing also shows that this figure increased in older age groups with half of those aged 65 and over claiming they wouldn’t feel comfortable discussing their finances with friends.

Regional differences highlighted how the UK’s towns and cities have varying levels of openness when it comes to talking about money. Sheffield is the UK city least likely to open up on the topic while those in Birmingham are the most comfortable.

With this in mind, ALA has teamed up with Laura Ann Moore, host of the Mind Money Soul podcast, to share steps to improve your money mindset and to help everyone feel more confident when it comes to the topic of money.

What is a money mindset?

“Your money mindset is your own unique set of beliefs and attitudes towards money”, Laura explains.

“It’s these very beliefs that quietly govern the way you manage, spend, and save your money. If you find yourself frequently bumping against financial roadblocks or struggling to maintain productive habits, the solution might not lie in numbers, but rather in improving your money mindset.

Understanding and reshaping your money mindset is an instrumental step towards bolstering your financial well-being.”

Step 1: Awareness

Laura recommends thinking of your approach to money as a financial GPS:

“Picture this: You’re on a road trip, but you’ve got no GPS. Chances are, you won’t reach your destination without getting lost. The same applies to your money journey. Before you can change anything, you’ve got to be aware of what needs fixing.

Acknowledging how you currently think and feel about money is the first step in making any impactful change to your behaviour. Remember, awareness isn’t about judgement; it’s about understanding where you stand and where you want to go.”

Step 2: Speak Your Way to Abundance

Shifting language and squashing negative self talk when it comes to your personal finances is essential, according to Laura.

“Ever caught yourself saying, “I’ll never be good with money” or “I can’t afford that”? Well, it’s time to drop that script and pick up a positive one. The words you use about money shape your thoughts and actions. And the simple act of changing the words you use can be transformative. Instead of saying “I can’t afford it” try “How can I afford it?” By making this language shift, you’re opening the door to creative solutions and inviting a more abundant mindset.”

Step 3: Reframe How You View Money

Challenging some of our most deep rooted beliefs around money can help you reframe your thoughts and grow confidence when it comes to managing your finances:

“Money is a tool in your journey, not an obstacle. When you identify your current money beliefs, you can then start to reframe and reshape them. If you have always believed that having money makes you greedy or selfish, you can ask yourself “is this really true?”.

Challenge your beliefs and look for example either in your life or in other people that show the other side to your money block. Embrace the idea that wealth is your ally in achieving your goals, not a barrier to them.”

Step 4: Embrace Your Mistakes

Laura recommends being kind to yourself and learning from your money mistakes as you go:

“Who hasn’t stumbled on their financial path? We’ve all been there, done that. The key is not to camp out in the land of regret. Reflect on your money missteps to see if you can take any learnings but do not let them define you. Every financial setback is a lesson in disguise, and each lesson brings you closer to financial mastery. Remember, the present and future are where your power lies, not in dwelling on the past.”

Step 5: Abundance Mindset:

Finally, Laura suggests shaping a new mindset when it comes to flourishing financially:

“Imagine your mind is a garden. If you feed it thoughts of scarcity, you’ll reap self-doubt and limitations. But if you plant seeds of gratitude and abundance, your garden will flourish. Start each day by counting your blessings, whether big or small. This primes your brain to seek the good, attract opportunities, and believe that there’s more than enough to go around. After all, a mind rooted in abundance sees solutions whereas scarcity sees problems.

Transforming your money mindset is like giving your financial journey a GPS that leads to abundance. By raising awareness, reshaping your language, reframing money’s role, forgiving past errors, and embracing an abundance mindset, you’re rewiring your brain for prosperity. Remember, it’s not just about the numbers; it’s about the thoughts behind them. Here’s to a brighter, bolder, and wealthier you!”

To learn more about ALA’s 2023 Money Survey visit the website.