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That extra glass of fizz at midnight may give you a horrid headache but the New Year could bring a financial hangover too.

Making New Year’s resolutions can be bad for your bank balance according to the number crunchers at TSB   It reckons we each shell out an average of £187 in our enthusiasm for a ‘new start’ on January 1st.  But one in three of us give up on at least half of our new goals by the end of January.  And nearly half of us have packed in the lot by March.

So here’s how those numbers stack up!

Getting fit

This one costs us £73 on a mix of gym and slimming club memberships and forking out on new gym clothes so we look the part, or buying fitness DVD’s so we can get fit in the privacy of our homes!

Healthy eating

Who hasn’t opened a fridge full of leftovers with post Christmas cheese and chocolate and decided to eat more healthily?  But it’s not just a case of ditching the chocolate as we splash out £42 on juices and smoothie blenders in a bid to make our healthy eating regime go the distance.

New hobbies

This can be anything from learning a new language to taking up music lessons or painting and means stumping up an average of £34 according to TSB.

And when it comes to how we’ll pay for our plans; one in five of us say we’ll rely on our credit card to fund those resolutions…….

So reckon I’ll be sticking to the ‘free’ ones and aiming, (as always!),  to do more walking, (10,000 steps a day minimum is the plan…..), drink more water (yes the old ‘eight’ glasses a day is always one of my regular resolutions too!), and most importantly to try and make the most of every minute of a brand new year.

Happy New Year to you all and hope it’s a great one for you whether you stick to your resolutions or not……

Is passing on an unwanted present plain bad manners or actually a savvy way to save money and recycle to find a new home for an  unwanted or duplicate gift? 

Four out of ten of us admit to ‘regifting’ some of our gifts according to research from gadget insurance provider Protect Your Bubble.

Whether you do this or not is up to you, but, if you are going to ‘regift’ anything make sure you stick to the rules or you could be banished from the Christmas list next year!

So if  you are going to regift here’s how to do it and get away with it!

Take out the tags

Sounds obvious, but make sure you take off the original tags before rewrapping, tagging it and handing it over.   And check inside boxes for rogue tags too!  Several years ago a friend of mine was given a lovely box of wine glasses by her ‘prospective’ sister in law, only for her to open the box and find the original tag inside wishing the sister in law a ‘Merry Christmas’ along with a gushing message from the original sender.  Needless to say the incident didn’t go down well!

Check the expiry dates

Check dates on wrapped boxes of biscuits and chocolates and the expiry date on vouchers if you’re thinking of passing on a voucher or gift card that you can’t use.  You won’t look great if it’s later discovered that your ‘generous’ gift actually expired last year.  And as some gift cards or vouchers may only last 6 months it’s definitely worth double checking first!

Check the wrapping

Don’t hand over gifts that look like they’ve been in the back of your cupboard or with tatty shrink wrapping or you could be rumbled!  Always make sure the wrapping and packaging all looks new before you wrap it up again!

Don’t regift home made presents

Goes without saying, but don’t pass on homemade gifts, unless they’re your own creation of course!

So you can’t pass on those hand knitted socks from great Aunt Ethel or the lurid scarf  the neighbour down the road made for you…..  Home made gifts can be lovely and thoughtful if you’ve genuinely made something yourself, but if knitting isn’t your thing and you suddenly start presenting family and friends with home made creations chances are you’ll soon be rumbled………

Don’t come a cropper with ‘Secret Santa’

Check who gave you that gift before you hand it back; especially if it’s something you were given at last year’s office ‘Secret Santa’.

I’ve always been lucky with ‘Secret Santa’ and had some lovely fun gifts but if you’ve been given a matching stapler and hole punch set; (and no reason of course why you shouldn’t be super happy with this!), then don’t be tempted to pop it back in the ‘Secret Santa box next year in case it ends up back in the arms of the original present giver!

 

 

 

 

Two big investigations into the rising cost of home insurance have just hit the headlines.

The first comes from market research agency Consumer Intelligence claiming the ‘average’ household policy price rose by 8.5% over the last year; that’s nearly three times the rate of inflation, (currently 3%).  And another investigation out today from Citizens Advice found a third of households stick with the same provider for over five years; which means they can end up paying a whopping 70% more for their home insurance than if they bowled up to the very same insurer and went through its doors as a ‘new’ customer.

I always shop around for insurance every year, and that goes for car, home, breakdown and travel cover.  And I reckon I’ve rarely been with the same insurer two years running.   If insurers didn’t hike up their rates so much, things might be different, but shopping around each year is often the best way to secure a competitive policy price and that means money saved! 

Like it or not, it’s a fact that loyalty doesn’t pay in the insurance industry, and sticking with the same insurer year after year can mean sky high premiums.  Sad truth is that those who play the loyalty game and don’t shop around get penalised, while the moneysaving discounts, deals and offers are thrown at new customers to lure them in.

I’ve just had a renewal quote from Churchill for my house insurance and it’s a whopping 40% higher than last year!  Yet, yes you’ve guessed it, I’ve not made any claims and nothing’s changed.

Naturally there was no way I’d be accepting it, but couldn’t resist the chance to challenge it and see what their reasoning was, so I rang up customer services to ask why the price had gone up so much when nothing had changed?

First up, they tried to tell me this kind of annual increase was ‘standard’ across the industry.  Really?  ‘Over 40%?’ I asked?  I don’t think so.  After more pushing, they then decided it was down to the fact that I’d bagged a discount last year which had brought down the original price; hence this year the premium looked much higher……..  So that ‘deal’ I bagged would have cost me a whole lot more in hiked up premiums if I’d decided to stay put over the years.   Of course Churchill isn’t the bad boy of the industry, it’s just the insurer I happened to be with which is why I thought it was only fair to say so.

And when I told them that I wouldn’t be renewing and would shop around; the response was to warn me that I’d end up  having to ‘shop around’ every single year if I wanted to try and get a better price.

Yes and I’m happy to do that.  Got to practice what I preach and as you’ve guessed, of course I’ve waved goodbye to Churchill and paid literally just a couple of quid more than last year to get the same level of cover with my new insurer.  Job done!

 

Spa days, hotel trips and free MOT’s are just some of the free gifts being dished out by banks and credit card companies when you take out loans and cards.

But is it ever ok to offer incentives like this when some consumers could be lured into taking out deals that aren’t the most competitive or may not be right for them?

I’ve just written a piece about this so here’s my views on whether loans and credit cards should be incentivised?

 

 

Want to get the red carpet treatment at the movies?

If you love going to the movies but hate crowds and cramped seats, some cinemas are rolling out the red carpet  with exclusive lounges, free drinks and super comfy seats. 

Odeon and Cineworld are among the cinemas offering the ‘VIP’ treatment.   While they do all cost more than a standard ticket, you can save money this way if you want to enjoy  drinks and snacks during the movie.

Odeon’s VIP offering is the Gallery Experience which is available at locations including Cardiff, London, Liverpool, Milton Keynes, Metrocentre and Norwich.  Includes use of its exclusive bar area both before and after the film along with unlimited popcorn, nachos and soft drinks and the option to buy alcoholic drinks.  And when it’s showtime you get shown to a special area with extra wide comfy seats plus  you can take in your snacks, which are all served in china bowls not your usual plastic trays!

Prices vary according to location, but based on the Milton Keynes prices you can pay £10.95 for a standard ticket or £17.95 for the Gallery on a Sunday afternoon.  Add a portion of nachos and a drink to the standard ticket price and you’ll fork out over £19 so the Gallery ticket can mean a saving. However if you’re on a super tight budget then best to hunt down deals for the standard ticket price and take your own snacks.

Cineworld offers an ‘Experience VIP’  option in Sheffield and Glasgow for £29 a ticket.   For this you’ll get into the VIP lounge which includes a ‘light’ buffet and unlimited snacks and soft drinks along with leather reclining seats for the movie.  At both Odeon and Cineworld there’s a bar but you’ll pay more if you want a glass of wine or a beer.

But while the big chains are trying to give movie goers a more exclusive experience, I reckon for the ultimate cinema experience you’ve got to go ‘old school’ to the likes of the stunning Rex in Berkhamsted, (where you can book tickets from £5), the Electric Picture Palace in Southwold, the Electric Cinema in London, (either Notting Hill or Shoreditch), or the Dominion Cinema in Edinburgh which proved to be a great find after a tip off from a local taxi driver!