A recent report has shown how the floods that hit various parts of the UK earlier in the year have resulted in the cost of home insurance going up considerably, although the level at which insurance has risen is not as high as some industry professionals had predicted shortly after the flooding. Still, states the AA, the cost of insurance has risen at its fastest pace in the last decade, and many homeowners are now having to pay for the damage and cost of claims from the June and July floods. Read the rest of this entry »
Popularity: 75% [?]
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.
Popularity: 98% [?]
A recent report has highlighted how the cost of home insurance can be affected as the result of where you live, with certain postcodes in the UK commanding higher insurance premiums as a result of increased risks associated with these particular areas. It has been found that residents living in West Norwood in south-east London, Bacup in Lancashire, and Anfield in Liverpool, could find themselves paying far higher home insurance premiums than those living in other areas of the UK. Read the rest of this entry »
Popularity: 76% [?]