On July 1st 2007 new regulations came into force in Britain banning smoking in any enclosed public areas. Smokers are now no longer allowed to smoke in bars, pubs, clubs, restaurants, and other venues where smoking was previously allowed. As a result of this many smokers have decided to try and quit the habit, and for those that are successful there could be a fair amount of extra money available each month that can be invested elsewhere. This comes from the savings on the cost of cigarettes, which can be considerable for heavier smokers, as well as reductions in areas such as life and home insurance policies.
Financial experts are now offering advice on how ex-smokers could start using this extra money to benefit them most. It is thought that heavy smokers could be saving thousands of pounds a year on the cost cigarettes, and even lighter smokers could be looking at annual savings in excess of £1000. There are many different ways in which this additional disposable income could be used by ex-smokers, and advisers have suggested a number of options that consumers can look at to make the most of the money that they save.
One suggestion put forward by financial experts is to invest the money in a high interest savings account such as an ISA, where it can accrue high levels of interest each year and could really add up over time. Homeowners that quit the habit could also cash in by increasing the repayments on their mortgages. This could save them a fortune in interest payments over the term of the loan, and could cut the term of their mortgage, enabling them to get out of debt more quickly.
Another suggestion is to invest the money for the future in some form of retirement fund, and for younger smokers with more time to save this could add up to a considerable amount that could lead to a far more comfortable and enjoyable retirement.
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Pet insurance cover is something that many people in the UK take up. As a nation of animal lovers, many of us want to provide our pets with protection in the event of an accident, sickness, or injury, ensuring that the pet can get the treatment or surgery that it needs. There are a number of providers that offer pet insurance to suit a wide range of needs and circumstances, so consumers are able to compare different policies in order to find the most suitable and affordable one. Read the rest of this entry »
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Consumers that want to save money on the cost of their private medical insurance could see a big difference in their premiums if they make the effort to stay as fit and healthy as possible, according to a recent report. Compared to last year there has been a rise of around 1.5% in the number of UK consumers taking out private medical insurance, and it is thought that this is, in part, due to large discounts that are being offered to consumers by insurance companies in exchange for leading a healthier lifestyle, which will then decrease the risk of having to make a claim. Read the rest of this entry »
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Many people throughout Britain may be considering giving up smoking now that the law banning smoking in enclosed public areas is well and truly under way. This could see many people saving the thousands of pounds that they spend each year on cigarettes, as well as seeing their health vastly improve in some cases. However, there are also other financial benefits to consider if you are giving up smoking, as you could also save money in other areas as well as on the cost of cigarettes. Read the rest of this entry »
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June and July 2007 saw some of the worst flooding on record in the UK, and many households have been affected by these weather conditions. Insurance companies were hit by millions of pounds worth of claims as the result of severe damage caused to many homes in certain areas of the UK. However, it was not just those that sustained damage to their homes and belongings that were affected – many homes also found themselves without drinkable water for nearly three weeks following the floods when a treatment plant was closed down. Read the rest of this entry »
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