October 22nd, 2024 | Andrew Hagger | News

Millions of UK adults risk leaving grieving loved ones without access to cherished memories and vital information by neglecting to plan for their digital legacy, a new survey by Will Aid shows.

The national Will-writing campaign has revealed 42% of respondents overlooked the critical need to include digital assets in estate planning – meaning friends and family may face significant challenges in the event of their death, including the loss of treasured photographs, and difficulties in managing financial affairs.

Key findings from the poll, which surveyed 2,000 people across the UK, show:

• 58% of respondents believe it is important to include access to passwords for social media accounts, email, and other digital assets in their Wills. 

• 28% remain indifferent

• 14% feel it is unimportant

As the world becomes increasingly digital, our online lives leave behind an important, but often overlooked, legacy.

The rise of digital banking, cloud storage, and the prevalence of social media means that a person’s online presence and assets can be just as valuable – if not more so – than their physical belongings. Yet, many individuals fail to consider this when preparing their Will, so sorting out the deceased’s estate becomes a more complicated task than it needs to be, adding stress to an already difficult time.

Michael Cressey, from Hadfield Bull and Bull solicitors, said: “In an age where so much of our lives are online, ensuring loved ones have access to your digital accounts after you die is crucial.

“Many people do not realise how much valuable information is stored in their email and online profiles – from financial records to cherished photographs. Failing to leave clear instructions and passwords can cause significant emotional and logistical hardship for those left behind.

“Leaving instructions for digital assets in a safe way not only ensures access to important assets but can also help loved ones manage practical matters such as closing accounts, settling bills, and even notifying institutions of the death. There are ways that you can update your online accounts with Apple iPhone by using the ‘legacy’ function in your phone settings, which will help you plan for the future.”

The annual Will Aid campaign sees solicitors across the UK volunteering their time to write Wills throughout November, making it an ideal opportunity for people to get their wishes professionally drafted in a legal document, which will help to protect their loved ones in the future.

Peter de Vena Franks, Will Aid Campaign Director, said: “By planning ahead, individuals can help ensure their online legacy is managed according to their wishes, and spare their loved ones from additional stress.

“This year’s Will Aid campaign is the ideal time to talk to a solicitor, and ensure their wishes are clearly documented, giving them peace of mind that their loved ones will be spared additional upset and stress in the event of their death.”

Will Aid is a partnership between the legal profession and seven of the UK’s best-loved charities.

The initiative, which has been running for more than 30 years, sees participating solicitors waive their fee for writing basic Wills every November.

Instead, they invite clients to make an upfront donation to Will Aid – a suggested £100 for a single basic Will and £180 for a pair of basic ‘mirror’ Wills.

Appointments are available now, and you can sign up by visiting www.willaid.org.uk.

Donations to the campaign are shared by Will Aid’s partner charities, which operate both here in the UK and around the world.

For more information on Will Aid and how to get involved visit www.willaid.org.uk

October 22nd, 2024 | Andrew Hagger | Uncategorized

In the last year, over half (54%) of learner drivers needed more than one attempt to pass their driving test, raising questions about whether learners are taking their practical test too soon.[1] Despite this high failure rate, only one out of every 10 (11%) drivers felt they tested before they were ready, suggesting that while many don’t pass the first time, they generally feel prepared beforehand.[2]

The research from Go.Compare Car Insurance explores how financial penalties might influence learner drivers. Recent proposals from the RAC suggest increasing fees for those needing multiple test attempts.[3] The insurance comparison site surveyed drivers to see how such fees might change behaviour.

The results show that a third of drivers say they would’ve delayed their test until they were more confident if faced with higher fees for multiple attempts.[2] Similarly, 29% would’ve reconsidered if higher insurance premiums were in place after multiple failures – another factor that could influence drivers.

Younger drivers, aged 18 to 24, were especially cautious about potentially lofty insurance costs, with 41% saying they would have delayed their test under the threat of higher premiums and over a third (36%) stating they would have delayed if fees increased for more than one attempt.

Despite awareness of the financial burden of failing, there’s limited support for increasing fees or premiums. Only 9% backed the idea of higher test fees for repeat attempts, and just 12% supported higher insurance costs for those who fail multiple times.

Tom Banks, car insurance expert at Go.Compare, said: “While learner drivers might not feel they’re testing too soon, the reality is that many will need multiple attempts to pass, and financial penalties could influence their timing – though not everyone agrees that higher costs are the right solution.

“Premiums are already at their most expensive once you’ve just passed, as you haven’t built up a no-claims bonus, with an average annual premium of £1,523 for those with less than a year’s experience under their belts.[4] This is especially true for younger drivers – aged between 17 and 24 – who are seen to be a higher risk.

“It’s important to strike the balance between encouraging better preparation and not penalising learners who might simply need more time or who struggle with test anxiety. Whether higher fees for tests or insurance would lead to better preparedness or simply add stress to an already challenging process remains to be seen.”

Find more information about driver opinions on higher fees for failed driving tests on the Go.Compare website.

October 18th, 2024 | Andrew Hagger | News, Uncategorized

While it differs company to company, the majority of new mothers will not receive their full pay for their maternity leave.

For the first six weeks of statutory maternity leave, new mothers will receive 90% of their average pay.

However, after the first six weeks, new mothers will only receive a statutory payment of £184.03 per week or 90% of their average earnings, whichever is lower.

While maternity leave is only 39 weeks, research has found that 45% of new mothers actually extend this.

Due to the lower income new mothers receive, it’s important to start thinking of cutting costs down and putting money towards maternity pay.

Christie Cook, Financial Expert at Hodge Bank, discusses five ways of saving for your maternity leave:

Budgeting

“To prepare for a major life event like maternity leave, the first step is to start budgeting and cutting unnecessary expenses. Instead of spending on takeaways, for example, put that money into savings..

An average takeaway for two will set you back £30 – equivalent to around 99 nappies. This sounds like a lot, but considering the average newborn will go through 10-12 a day – 99 would  last just eight days!

Save money by avoiding branded items to suit your budget and ensuring you’re sticking to your shopping list while in your local supermarket rather than getting sucked into those deals.”

Get Selling

“What better way to make room for the new addition  than by selling some of your unwanted items you’ve been hoarding these past few years.

Get on your local selling sites such as Facebook Marketplace and Vinted and sell items you forgot you had. You’re going to need wardrobe space for the new baby’s clothes, nappies and accessories, so what better way to make room than by sending your unwanted items on to new homes and making some extra money in the process?”

Free Events

“Life wouldn’t be a life worth living if you stayed home 24/7 to save money, right? But there are free events you can enjoy instead of spending £20 on a cinema trip or £50 on a meal.

As winter approaches, bundle up and enjoy a winter walk with a homemade hot chocolate in your takeaway cup, making the most of a crisp sunny day.

Use sites like Eventbrite to find free local events. These small savings can help you afford activities during maternity leave, like baby yoga, soft play, and swimming, which do come with costs.”

Review Subscriptions

“Every few months, review your bank account for subscriptions and decide if they’re still necessary, especially as maternity leave approaches. For example, if you’re paying more than £30 for Netflix, Disney Plus, and Amazon Prime Video but mainly watch one, consider cancelling the rest.

Similarly, evaluate your gym membership—many streaming services offer workout videos that may be more convenient once the baby arrives, and you’ll be able to squeeze in a 15-minute YouTube routine around the newborn’s napping schedule.”

Take Advantage of Interest

“While you can’t touch a Fixed Rate ISA for at-least a year, for most people, maternity pay often decreases the further you get into your leave. 

So, if you’re four months into your pregnancy and you choose to open a savings account now, then you won’t be able to touch your ISA until the third month of your leave.

However, when that third month comes around, which will be fast, you’ll not only have the money you’ve been saving each month, but you’ll also have the additional interest too.” 

For access to more saving tips from Hodge Bank, sign up to their monthly newsletter here:

https://hodgebank.co.uk/savings-newsletter-sign-up/

October 17th, 2024 | Andrew Hagger | News

A new study has revealed that sports cars retain more of their value than any other type of car when resold. According to the latest car valuation data looking at prices for cars after three years and 36,000 miles of use, sports cars boast an average retained value of 52.38% – more than any other vehicle type.

The research comes from Auto Express, which analysed figures from used car market experts VIP Data. It divided every mainstream new car currently on sale into vehicle types and compared the average retained value figure for each vehicle type category. This gave a detailed picture of the varying depreciation performance of different car types on the UK market, highlighting that some kinds of car hold their value significantly better than others.

The retained values in the sports car sector were propped up by models from the three top performing car brands for depreciation – Alpine, Morgan, and Lotus. Each of these brands recorded an average retained value of more than 57%.

While sports cars top the list, SUVs and premium hatchbacks aren’t too far behind, as both also hold more than 50% of their value on average after three years and 36,000 miles. It means that, for those able to afford them, these vehicle types make a cost-effective choice for drivers who intend to sell up once their cars reach a few years old.

Microcars and MPVs also made it into the top five, retaining an average of 50.23% and 49.16% of their values, respectively. The figures for the top five vehicle types can be found below:

At the other end of the scale, the data found that luxury cars lose the most value, retaining only 42.73% after three years. However, it’s not just high-end cars that tend to retain less value, as family hatchbacks and large family cars also come towards the bottom of the list. Large family cars only retain around 45.6% of their value after three years, while family hatchbacks hold on to just 43.76%.

This poor performance of family hatchbacks, including well-known models like the Ford Focus and Vauxhall Astra, is in contrast to the strong showing from premium hatch models like the BMW 1 Series and Audi A3. It indicates that drivers who can pay a little more for a premium badge should get more back when the time comes to sell.

Paul Barker, Editor of Auto Express, said: “Our latest analysis shows that sports cars are currently top of the pile for retained value. It’s a trend we feel is partly driven by a diminishing number of such models available to buy new. This, together with the high prices of sports cars, is pushing up prices for used cars that hit the market a few years down the line, meaning sellers could get a better price.

“When it comes to luxury cars, the worst-performing category for depreciation, it’s a case of the big luxury saloon falling firmly out of favour with private buyers. While the luxury SUV market has grown, and we see these large SUVs with premium badges holding onto their value strongly, models like the Audi A8 and BMW 7 Series are less sought-after. This results in a lower return when owners go to sell.”

More information about which car types retain the most value can be found on Auto Express’ website.

October 9th, 2024 | Andrew Hagger | News

 As part of its Shop Small campaign, American Express is pledging a total of £100,000 to support small businesses this Autumn. As a longstanding backer of the high street, American Express is calling on its Cardmembers to nominate their favourite independent small businesses through a new ‘Champion Small’ initiative, with 10 businesses nationwide each set to receive a £10,000 grant. These grants can be spent by businesses to support growth, for example by purchasing new equipment, shop signage, or for spending on marketing and advertising.

American Express is encouraging its Cardmembers to get involved by entering everyone who nominates a small business into a prize draw to win a £1,000 statement credit. To nominate a business, Amex® Cardmembers can visit the Champion Small website between 7 October – 7 December 2024.

Shortlisted merchants will be put forward to an expert judging panel who will score them against criteria including customer reviews, product innovation, community impact and how the grant will positively benefit their business.

The judging panel – which includes Michelle Ovens CBE, Director of Small Business Saturday UK; Golda Rosheuvel, actor and co-owner of small business Imma The Bakery; Andrew Goodacre, CEO of the British Independent Retailers Association; Tony Sophoclides, Strategic Affairs Director at UK Hospitality; and Dan Edelman, General Manager, Merchant Services at American Express – will then decide on 10 winners.

American Express has a long history of championing the high street through its Shop Small campaign and is proud to be the founder and principal supporter of Small Business Saturday in the UK, which takes place in the UK on 7 December, coinciding with the closing date for Champion Small nominations.

Dan Edelman, VP & UK General Manager, Merchant Services at American Express, said: “Over a decade since its launch, our Shop Small campaign continues to encourage people out onto the high street, and we are thrilled to extend our backing of small business this year by offering 10 Champion Small grants. Small, independent shops are hugely valuable to local communities across the UK and our hope is that this funding helps these businesses continue to thrive.”

Golda Rosheuvel, actor and Amex Shop Small Ambassador said: “Small businesses bring so much diversity to the high street and are an important part of my life, not least as the proud co-owner of Imma The Bakery. It’s my privilege to be part of the judging panel for Champion Small. I can’t wait to learn about the nominees and their stories – it will be great to hear how they are making a difference to their customers and local communities.”  

Director of Small Business Saturday UK, Michelle Ovens said: “Small Business Saturday has always been about celebrating the phenomenal contribution small businesses make to our lives. So it is wonderful to see this new initiative launch by American Express that will not only encourage greater recognition of the UK’s amazing small firms, but also provide much-needed financial support to help them to scale and unleash new innovations.”

For more information on how to participate in the Champion Small initiative please visit: go.amex/championsmall2024 – or search ‘Amex Champion Small’.

October 2nd, 2024 | Andrew Hagger | Uncategorized

Following a busy summer of sport, new research from the Vitality American Express^® Credit Card shows that on average Brits are planning to spend £795 to keep motivated on their health and fitness journeys for the rest of 2024. For the average adult, this includes £17.50 a month on gym memberships, £15.30 on sportswear and £9.70 on fitness apps and subscriptions to stay on top of their fitness goals by the end of the year.

Stay fit, stay warm!

As the days get shorter, colder and darker, changing seasons can make it challenging to keep motivated with two-thirds (67%) of Brits surveyed agreeing that changes in the seasons impact their fitness routine. Cold weather (51%) and darkness (49%) are the most common challenges.

Despite the seasonal change, Brits say there are plenty of reasons to stick to their fitness targets. The mental health benefit that exercise brings is the biggest motivator during winter, with 43% of Brits saying this keeps them motivated. The ability to workout indoors (29%) or eat comfort food post-workout (19%) are also popular motivators.

Over half (52%) of UK adults said they would be motivated to exercise more if they earned cashback as they participated in activities to keep fit. Vitality American Express^® Cardmembers can do just that, earning bonus cashback based on their monthly activity. With a qualifying VitalityHealth or VitalityLife insurance plan, or both, Cardmembers can translate their Vitality activity points – earned from exercising – into bonus cashback.  The more plans and points they have, the higher the cashback rate on their spending. This booster allows Cardmembers to earn up to £20 extra cashback every month, on top of the 1% cashback they already earn on their everyday spending, as standard.

The American Express Vitality Cashback Calculator shows potential Cardmembers just how much extra they could earn, and more information is here.

A summer of sporting inspiration

A bumper summer of sport is also inspiring the nation to keep fit, with almost a quarter (24%) saying they are influenced to spend more on fitness.

Of those inspired by the summer’s sporting moments, 37% said they were motivated by running events. Swimming (36%), football (31%) and cycling (28%) were the next most inspiring sports events for UK adults this summer.

It can often be the human side to sport that inspires. A quarter (26%) of Brits have been inspired by specific sports personalities to exercise more, rising to more than half (54%) of Gen Z adults.

Nikki Edelman, Vice President, American Express: “After an unparalleled summer of sport, many Brits have been inspired to lace up their shoes, pick up their racquets and hit their fitness goals. As the cooler months approach, it is often perceived to be a challenging time to stay motivated, but with 85% of survey respondents planning to keep up their physical health and fitness this winter, Brits up and down the country will be pushing their way through the colder months, with Vitality American Express Cardmembers able to earn cashback as they do so.”

Jonny Kibble, Head of Physical Exercise at Vitality shares his tips for staying active in the colder months saying “Staying motivated in the winter can always be a big hurdle for people to overcome, but maintaining your activity levels in the colder, darker months is not only great for your physical health but also your mental health too. The autumn and winter seasons can often feel like the weather is raining on your parade, especially after enjoying the summer sun so it’s important to have a back-up plan. If you regularly exercise outside, having some indoor alternatives you can use instead will help you to stay motivated and on track whatever the weather. Equally, focus on what you can do rather than what you can’t do. Exercise is meant to be fun, so if you’ve enjoyed spending the summer going for regular cycles with friends in the park, why not find an indoor alternative you can do with the same people, such as spin. Choosing something that fits in better with the seasons, will keep you on track and help you to do the activities you enjoy.”

Walk in the park

When it comes to exercise, walking is the nation’s favourite way to keep fit. Half (50%) of Brits use walking as a way to exercise, with the gym (20%) and running (17%) the next most popular activities. Football is the most popular team sport amongst UK adults; a tenth (10%) of those we spoke to play football at least once a week.

The Vitality American Express® Credit Card is Representative 42.4% APR variable for VitalityLife members and 31.0% Representative APR variable for VitalityHealth members. 18+. Terms and conditions apply. Subject to status.

September 30th, 2024 | Andrew Hagger | News

British garages become playrooms, gyms, and offices as UK homeowners favour conversions to add value and space to their homes

Homeowners in the UK are turning to unused garage space to add extra space and value to their homes, as worries about the economy and a static housing market are encouraging people to improve, not move.

Research from MyBuilder.com, the reliable way to hire tradespeople, found that many UK residents were considering renovating or extending their home rather than moving, with a third (33 per cent) choosing to extend, renovate, or generally improve their existing home.

Recent statistics show that more than half (53 per cent) of garages are not used to house cars. Instead, they often become extra storage areas or dumping grounds, when they could instead be used to create a room in your home. Attached garages can be perfect additions as a separate dining room, playroom or boot room, while detached garages can make perfect home offices or gyms.

Andy Simms, from MyBuilder.com, said that the rise of popularity is not surprising.

“Garage conversions can be remarkably versatile, and actually extremely affordable. In terms of extending your home, it’s one of the most cost-effective ways to gain extra space at a reasonable cost.

“Depending on where the garage is located in comparison to the rest of your rooms, they can provide a multitude of great spaces as well as provide extra storage.

“If you’re considering converting your garage, we’d advise to get an expert in to advise as to whether you need planning, what an approximate cost would be, and even give you inspiration as to what your new room could be.”

A garage conversion can also be turned around in a relatively quick time period – sometimes just two or three weeks. Once the garage is empty, the work tends to begin quite unobtrusively. The garage will be prepared with studwork insulation for the walls, with an electrician needed to install wiring for the required amount of sockets. Depending on the use, a plumber might be needed to install pipework and a radiator for heating.

To finish off the conversion, there may be a door knocked through to existing accommodation, plasterboards and plastering will be applied to the walls, skirting boards will be fitted with any new windows and flooring.

This is likely to cost in the region of £15-20k for most parts of the country and up to £25k for London and surrounding areas. You do not need planning permission for most conversions, but you’ll face roughly a £500 fee from your local Building Control for your application and an inspection fee to sign off your conversion project.

For more ideas and cost guides on garage conversions, please visit https://www.mybuilder.com/conversions/articles/garage-conversion-ideas.

Garage conversion ideas

Experts from MyBuilder.com have put together a list of potential layouts for your converted garage, along with approximate costs for the work. From gyms, to studies, to playrooms, there is an option to suit everyone – and it can be surprisingly affordable.

Office

While garden rooms became popular during the pandemic as people worked from home, many of us are still using a spare bedroom as an office. A garage conversion is the perfect space for an office, with plenty of room for a permanent desk, storage for files, and a comfortable chair. Costs can start from as little as £15,000.

Playroom

Most parents will testify that having the space to keep the kids’ toys out of sight seems a luxury. Few of us have a dedicated playroom for the children, but it could be a solution for the permanent clutter that comes with parenthood. Many attached garages meet the house in the kitchen or living area, meaning that any conversion would be conveniently located for keeping an eye on the little ones while enjoying quieter spaces. Costs start at around £15,000.

Home gym

Finding the time to get to a gym can be difficult, so what better way to use your garage than as a home gymnasium? It’s the perfect space to fit a treadmill, bike and some weight machines. The only problem is you won’t be able to make any excuses not to exercise. Costs start at £15,000.

Craft room

The pandemic led to a rise in “side hustles” with many people indulging their creative sides and earning a little extra money at the same time. Having a dedicated space for this may seem like a luxury, but if crafting is your thing then a garage conversion can work perfectly. There’s enough space to store any equipment, having a table and chair for working on your projects, and you can close the door on any mess in the meantime. Conversion costs for a craft room are around £20,000 with bespoke storage.

Changing room/playroom

Newborn babies may not require many toys to store, but the paraphernalia that comes with them can be vast. From changing tables to bassinets and buggies, having a baby adds to the clutter. Converting your garage into a bespoke changing/storage area, with space for a playroom for older kids, is a great way to utilise your extra space. This conversion would cost approximately £18-20,000, including plumbing for a sink and WC.

Occasional annexe

For those of us with ageing parents who may come to visit, a downstairs annexe with bathroom and snug/sofa bed can be a game changer. It’s also a great space for older children who may like their own space. A conversion like this could cost a little more, in the region of £20k.

Split rooms

Many garages are quite spacious and could be converted into two smaller rooms, allowing for a multi-purpose function. One idea could be to create an office on one side, with a gaming or playroom on the other. The rooms could be split with a wall or a divider, depending on the usage. A conversion like this would cost around £18,000.

False wall room

Many of us use our garages to store equipment such as bikes, or lawnmowers. Converting the space may therefore leave these items without a home. However, some conversions can create a split space that allows the front of the garage to remain as storage. The rest of the room can be used as indoor space, such as a study or cinema room. Costs start at around £16,000.

Kitchen utility room

Interior influences often brag of their utility rooms, which house the practical items allowing their kitchens to stay clear of clutter and aesthetically pleasing. The reality is that most homes do not have the space to facilitate such aspirational spaces – unless the garage is converted. Costs start at approximately £19,000 for this type of conversion, that would require plumbing and storage.

Boot room

For those of us with pets and outdoor pursuits as a hobby, a boot room would be a blissful luxury. Designed to store boots, coats, and outdoor equipment, boot rooms can be beautiful spaces to keep the muddiness at bay. Add plumbing for a sink or even a dog shower. Conversions such as this one start at £20,000.

Dining room

While dining rooms used to be commonplace, open plan living spaces meant the death of a separate space for dining. However, dining rooms are seeing a surge of popularity, and a garage conversion is the perfect space to house one. It’s also a relatively simple conversion, with costs starting at £15,000.

Extra living space

Depending on the location of the garage, it could be used simply to extend your existing living space. Whether that be a bigger living room or kitchen, the extra space could really give your home the wow factor. Conversions like this are slightly more costly if you need to remove walls to open up the space. Costs start at £18,500.

Cinema room

Projectors or huge TVs may not be practical for everyday use in your living room, but home cinemas are a great investment for movie lovers or for binge watching the latest season of Bridgerton in all its glory. The large blank canvas provided by a garage wall is the perfect place for a projector screen, leaving you plenty of room for comfy seats and tables for snacks. Conversion costs would be around £17,000.

Home pub

With the prices of drinks in pubs ever increasing, why not set up your own bar at home? A single garage can provide a great space for a home bar, comfortable seats and a darts board if you want to feel really authentic. Perfect for entertaining the guests or just having a break from working from home. Conversions like this will cost around £17,000.

Office and home school

Home schooling is increasing in popularity, but it can be hard to balance with your own workload. Having a joint office/home learning space is a great solution to this issue – and a garage conversion can provide the perfect area to make this into a reality. A temporary room divider, such as a screen, can be used when more privacy is needed, while still keeping an eye on your children. A conversion like this is quite straightforward, and starts at around £15,000.

September 29th, 2024 | Andrew Hagger | News

New to using credit cards? here’s a quick guide explaining how they work and the best ways to effectively manage your spending.

Understanding credit cards

The first step to staying on top of your credit card spending is to understand how they work. 

Essentially, these cards are a money-borrowing tool which enables you to make purchases with funds separate from your earnings and pay back the money at a later date. They are especially useful for large and relatively time-sensitive costs such as vehicle repair or booking holiday flights.

You have to keep up with your repayments or risk facing fines and costs spiralling out of control. Sometimes you will have to pay interest and additional fees as well as the total amount taken.

Managing your spending

Know how much you owe

Most crucial to managing your credit card spending is to know how much you owe. Awareness of how much you’ve borrowed, and any applicable interest, will help you budget correctly for your repayments and clear your debt as quickly as possible.

Opting for a credit card that tracks your spending is a straightforward way to stay up-to-date. You can connect your card to an app which gives real-time insight into your activities and balance and reveals spending or repayment trends in your data which could be improved upon.

Pay more than the minimum

Each month, your credit card provider will send you a statement of your spending including how much you owe, any interest or additional costs applied, and your balance. This statement will include a minimum repayment figure which must be met to avoid future fines.

If you’re in a position to, it’s best to pay more than the minimum. This will help to clear the debt more quickly which means you pay less interest overall and in turn, boosts your credit score. Having a good credit score gives you access to lower interest rates, higher credit limits on credit cards and better options for future borrowing such as mortgages.

Prioritise high-interest cards

Money owed on high-interest cards can quickly increase if ignored which could transform manageable repayments into unmanageable debt. A steadily growing balance can impact your ability to save and even essential spending over time.

High-interest debt is often referred to as ‘bad debt’, while low-interest borrowing is ‘good debt’. You should always prioritise paying off bad debt over saving, so clear your high-interest cards before you do any financial planning for the future. It might not feel like it, but this will save you money over time and give you peace of mind that you’re settling your bill.

Reserve for the essentials

While credit cards are a useful financial tool, they should be reserved for the essentials rather than used in your daily spending habits. This will ensure clarity on what you’ve used them for and keep repayments and additional costs to a minimum. When you can cover payments using your debit card and emergency fund without impacting your financial health, you should do so.

September 29th, 2024 | Andrew Hagger | News

New research reveals that Preston and Lincoln rank joint first as the least frustrating places for car commutes.[1] They scored 7.9 out of 10 for commuting reliability, thanks to their low fuel and parking costs, few traffic delays, and many road surfaces being in good condition.

The index, by Go.Compare Car Insurance, ranked 109 places in the UK based on the factors commuters named the most annoying when driving to work. This allowed it to find the country’s best places for commutes.

A survey by the comparison site revealed that half of UK drivers use their car to travel to and from work.[2] The majority of these commuters said traffic congestion was their biggest pet peeve, with 62% pinning it as their top frustration.

Poor road conditions and constant roadworks followed closely behind, bothering 61% and 50% of respondents, respectively. Aggressive drivers, high fuel costs, and parking issues also rank high on the list of annoyances.

The most pleasant cities for car commuters:[1]

Preston and Lincoln top the list as the most pleasant places to commute by car, with a score of 7.9 out of 10. Lincoln has the fewest road delays in the nation, with just 19.4 seconds lost per vehicle mile,[3] and only a quarter of its roads were reported to have poor surface conditions.[4] Preston’s roads are slightly better with less than a quarter (24%) being in poor condition.

On top of that, parking and fuel costs are also incredibly low. Fees to park for an eight-hour work day in Preston averaged at £7.15,[5] and petrol only sets back commuters an average of 140.5p per litre, with diesel costing an average of 146.8p.[6]

In third place is Milton Keynes. The Buckinghamshire city boasts below average parking costs at £9.75 for an eight-hour period, and has shorter average road delays than Preston. It also has better levels of road health with only 17% of its surfaces being in poor condition. But, its higher fuel costs push it down the list. Petrol costs an average of 145.9p and diesel costs 150.2p per litre – both above the national average.

Darlington has slightly higher levels of road health compared to Preston and Lincoln, with only 22% of its roads having poor surface conditions. But it has significantly higher road delays with 31.1 seconds per vehicle mile spent in traffic. Fuel costs are also higher compared to Lincoln and Preston. Petrol in Darlington will set you back an average of 145p per litre and diesel costs 149.8p.

Tom Banks, car insurance expert at Go.Compare, said: “Many drivers might not realise that living in cities with high traffic rates, fuel costs, parking costs, and poor road conditions can often affect your insurance premiums as well.

“Places with poor road conditions and higher traffic rates will charge you more than average for insurance. The national average for car insurance is around £424. London has some of the highest annual insurance costs, with median premiums 62% higher than the national average, setting drivers back around £686 a year.[7]

“But places like Lincoln and Preston have median insurance premiums of only £341 and £408, respectively. It might not be at the forefront of someone’s mind but these factors are worth considering when moving home or even when looking for a new job.”

Find the full list of cities and their rankings on the Go.Compare website.

September 16th, 2024 | Andrew Hagger | News

This Autumn, American Express is offering Cardmembers the chance to explore and save on their next day out with the launch of ‘Amex Days Out’. Eligible* Cardmembers can receive 10% back every time they book at a range of popular attractions across the UK – ranging from theme parks to cultural sites and beyond.

This Offer is valid at over 25 participating UK attractions, including Alton Towers, The Dungeons, London Eye, Eden Project, Silverstone Museum, Sea Life, Shrek’s Adventure, Thorpe Park, Titanic Belfast and Warwick Castle. The offer is also valid at Viator for UK-based experiences. A full list of participating locations can be found here.

The Offer applies to payments made for online ticketing or in person at selected locations**, and there is no limit on the number of times the Offer can be used. Furthermore, Cardmembers must book by 17 November 2024, however they do not need to actually visit the attraction by this date.

To get the saving, Cardmembers simply need to save the offer to their Card via the Amex^® App or online at americanexpress.com where they can also browse dozens of other shopping, travel, and entertainment offers. Eligible Cardmembers will see the Offer on display and will receive 10% back (including any booking fees) once the purchase is made using their American Express^® Card.

Dave Edwards, Vice President, American Express, commented: “We know our Cardmembers really enjoy a day out, and our latest Amex Offer helps them to make savings as they do just that. With a wide variety of some of the nation’s top attractions included, and the ability to book ahead – whether that’s for half term, the festive break or beyond – we think this offer will be really appealing to families and friends across the UK who value being rewarded on their spending.”