|
| NOT SHOPPING AROUND | SOLUTION |
| Too many of us either make big financial decisions without taking the time to research our options, or get stuck in a rut and fail to move our money when a better deal comes along. |
Sticking with the same mortgage provider for too long can cost It pays to check the interest rates on your accounts. Most current |
| PAYING OVER THE ODDS | SOLUTION |
| If you’re not in the habit of checking your accounts and insurance policies, it’s easy to end up paying too much, or paying for services you no longer use. |
When it comes to insurance, it’s easy to simply renew with the Which? research has found that you can almost always get a better Understanding exactly what cover your different policies offer Review your bank account to make sure there are no old direct debits |
| NOT PROTECTING YOURSELF AGAINST FRAUD |
SOLUTION |
| With credit and debit card fraud on the increase, lots of us are still failing to heed warnings that our bad financial habits are putting our money at risk. |
Keep on top of all your financial affairs. From checking your credit Check your credit files online once a year with Experian or Equifax |
| NOT PLANNING AHEAD | SOLUTION |
| Don’t make the mistake of burying your head in the sand. When it comes to money, it really does pay to be prepared. |
If you haven’t done so already, start a rainy day fund – aim to have three to six months’ salary in an accessible account. You can make your money work harder by putting it into a cash Isa – interest you earn is tax-free. Visit www.which.co.uk/money for Best Buys. It pays to think even further ahead. Find out what level of state pension you’re entitled to at www.thepensionservice.gov.uk; and if you haven’t already made a will, do so now. If you die in England without having made a will, your partner may get only part of your estate plus a life interest in the remainder. Likewise, if your home is worth more than £300,000, arrange to see an independent financial adviser to discuss what you can do to limit inheritance tax. |
| THREE GOOD FINANCIAL HABITS TO START TODAY |
1. SET UP DIRECT DEBITS FOR UTILITY BILLS Not only will you have one less thing to worry about but you’ll 2. ORGANISE PAPERWORK to make it easier to review your finances 3. KEEP ALL RECORDS such as mortgage and investment information. |
For
more advice on your finances, pick up a copy of Which? Money ‘How to save
on household bills’, a brand new magazine on sale exclusively at Sainsbury’s
for £2.99.
Where to next?
- Is
the credit crunch really as bad as it seems? Discuss, debate and
deliberate on our forum! - If you can’t make it as a millionaire, find
out how you can make your baby one! - Find
out how to cut the costs of family life. - Find value-for-money products in the babyworld
shop.


Keep