Smoking damages your insurance health

The cost of life insurance goes up by around a third for smokers. MoneySupermarket found that non-smokers can make considerable savings on combined CIC and life insurance policies. For example, a 30-year old male wanting £150,000 worth of cover over 25 years could save at least £5,490 with Aviva over the term, or £18.30 per month.

Increased risk of developing life-threatening diseases

According to data published on the BUPA website more than 114,000 people die each year from smoking-related diseases.

Cancer: 9 out of 10 lung cancers are caused by smoking, both active and passive. Contrary to popular belief smoking hand-rolled cigarettes is not safer than smoking ready-rolled, in fact the former increase your risk of developing mouth cancer.

Heart and circulation: A 20 plus a day habit could increase your chances of having a stroke four-fold compared to those who don’t smoke. You are also 16 times likely to develop circulation problems and to develop blocked blood vessels in your legs or feet.

Smoking puts a dent in your budget

As well on saving on insurance costs, quitting smoking can serve to boost your budget. As an example if you started smoking at 16 and continued at today’s current price until you were 30, those 14 years would cost you £35,518. If you quit at 40 you will have already done considerable damage to your health, skin and teeth and cosmetic work can cost upwards of £300. Lianne Rispoli, director at Hertfordshire-based beauty consultancy WhiteSmileUk.com, said: “By the time smokers reach the age of 35 to 40, their teeth are discoloured or even permanently stained yellow so whitening treatments are especially popular among this group.”

If your smoking habit has added to your debt mountain, you may benefit from seeking out a professional debt management service.

Declan Murray

Declan Murray has worked at Clearstart since it was acquired by it's parent company, Fairpoint Group, in 2007. As a senior debt advisor Declan works alongside specialist Insolvency Practitioners and advises customers on all aspects of their debt including IVAs from first call right through to closures. Declan has been an active forum specialist since 2009 on IVA.co.uk - a popular, award winning forum providing IVA support.

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The figures show that British lenders approved more than 58,000 new mortgages in January this year, an increase of 7% on December.

The total number of new mortgage approvals stood at 58,728 in January, which is an increase of 30% on the same time last year.

The figures for January are the highest since December 2009, leading industry experts to forecast an increase in property sales over the next couple of months.

But some are urging more cautious optimism for the UK housing market, as the boost could have been put down to first time buyers taking advantage of the stamp duty holiday.

“New lending and approvals for house purchases picked up across the market in January, perhaps in part due to first time buyers taking advantage of the stamp duty holiday before it ends in March,” said Adrian Coles, Director-General of the Building Societies Association.

The two-year stamp duty holiday for first time buyers comes to an end on the 24th of March, prompting many new buyers to take out a mortgage before it comes to an end.

The two-year concession has meant that first time buyers have not had to pay the 1% stamp duty on properties worth between £125,000 and £250,000.

Given the positive effect the stamp duty holiday has had on the UK housing market, some analysts are questioning the government’s decision to end it.

“We doubt the wisdom of allowing the current stamp duty exemption for first-time buyers to expire in March. We are now likely to see an unhelpful bunching of activity prior to the concession’s expiry, followed by a dip,” said the Council of Mortgage Lenders (CML).

“At a time of economic fragility, the loss of the stamp duty concession risks having a disproportionately negative effect on household sentiment, which we believe it would be best to avoid.”

Declan Murray

Declan Murray has worked at Clearstart since it was acquired by it's parent company, Fairpoint Group, in 2007. As a senior debt advisor Declan works alongside specialist Insolvency Practitioners and advises customers on all aspects of their debt including IVAs from first call right through to closures. Declan has been an active forum specialist since 2009 on IVA.co.uk - a popular, award winning forum providing IVA support.

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The UK housing market has experienced a turbulent few years following the global economic meltdown and mortgage regulations have become tighter. Over the last 18 months, the market has begun to show signs of life and banks/lenders are loosening their grip on mortgage lending.

As a result, borrowers have much more choice now than they did two or three years ago. With so much choice it can be overwhelming to know exactly which mortgage you want. Here is a quick guide to what is available;

Tracker mortgages
Now may be a good time to think about taking out a tracker mortgage, as interest rates remain low. Industry experts predict that interest rates will not rise for another two to three years, meaning that anyone having a substantial amount of debt, such as a mortgage, will have less interest to pay. The base rate may remain at a record low of 0.5%, however, this could be short lived. If you wanted something long-term, such as a five-year or ten your mortgage, you might be better off with a fixed rate mortgage.

Fixed rate mortgages
There are a number of highly competitive fixed rate mortgages deals available at the moment. As banks and lenders try to inject a bit of movement into the housing market, a number of them are offering low rates, which have not been seen for a decade. Norwich & Peterborough Building Society, for example, offers borrowers a fixed rate mortgage at just 3.99%. Chelsea Building Society is offering its lowest ever five-year fixed rate deal at 3.19%, however, a 30% deposit is required.

Remortgaging
As interest rates remain low, now could be a good time to borrow money as you end up paying less back in interest. The low repayment rates are expected to last for a few years, so it could be worth thinking beyond that period when interest rates may rise again.

It should be noted that if you end up borrowing more now and are unable to pay it back later, you could spiral into debt quickly.

Declan Murray

Declan Murray has worked at Clearstart since it was acquired by it's parent company, Fairpoint Group, in 2007. As a senior debt advisor Declan works alongside specialist Insolvency Practitioners and advises customers on all aspects of their debt including IVAs from first call right through to closures. Declan has been an active forum specialist since 2009 on IVA.co.uk - a popular, award winning forum providing IVA support.

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Looking at the period between December 2011 and January 2012, CPI annual inflation fell by 0.6 percent from its figure in December. It now stands at a January figure of 3.6 percent.

The picture was similar for RPI annual inflation, which saw a 0.9 percent fall from December to reach its January figure of 3.9 percent. This represents it lowest figure since February 2010, when it stood at 3.7 percent.

The decline in RPI and CPI inflation has partly been attributed to the January 2011 increase in the standard rate of Value Added Tax in January, rising from 17.5 percent to 20 percent.

Commenting on the figures, IHS Global Insight economist Howard Archer predicted that inflation rates are set to fall even further;

“Consumer price inflation should fall appreciably further in February, reflecting the fact that a number of retailers and companies delayed passing on the VAT hike at the start of 2011, and also due to utility providers trimming energy prices.”

The largest group of pressures that may have precipitated the CPI annual inflation fall between December and January came from fuels & lubricants, purchases made in restaurants & cafes, tobacco, vehicle maintenance & repair, the purchase of new vehicles and alcoholic drinks.

The largest factors that may have pushed the rate of RPI annual inflation down between December 2011 and January 2012 came from motoring expenditure, alcoholic drinks, food and tobacco.

Looking at these areas in more detail, alcoholic beverages & tobacco saw a 1.9 percent increase in this period fuelled by the 4.2 per cent rise in the price of alcoholic beverages.

In contrast, figures for transport prices saw a 0.7 percent decline as air fares traditionally level out in January after the heavy price tags put on flights in December. Fares dipped by 28.4 per cent between December and January, compared to an increase of 40.9 per cent between November and December 2011.

Debt problems

If you face mounting debt problems, ClearStart could help. Our services could help to find a suitable debt management solution for you.

Declan Murray

Declan Murray has worked at Clearstart since it was acquired by it's parent company, Fairpoint Group, in 2007. As a senior debt advisor Declan works alongside specialist Insolvency Practitioners and advises customers on all aspects of their debt including IVAs from first call right through to closures. Declan has been an active forum specialist since 2009 on IVA.co.uk - a popular, award winning forum providing IVA support.

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With the number of UK households struggling to cope with rising living costs, any drain on personal funds could seriously hinder living standards.

Here are some top tips to avoid fraud;

1. Internet scams

You may occasionally receive an email suggesting you have either won a top cash prize, could be entitled to a compensation payout or are the heir to a massive Caribbean estate.  

The OFT warn that anyone of any age can be targeted by fraudsters, however, more often than not elderly people are the victims. Beware of such claims and use your common sense – if you think the offer is too good to be true, it’s because it probably is.

2. Never send money

One way to clearly identify a scam is to see if they ask for any money. You should never send money to people who claim you have won a big prize or lottery as this may be the last time you see your precious funds. This means never disclosing your bank account, credit card or personal details to people you don’t know. This includes post scams as well as online ones!

3. Different passwords

Using strong passwords, which include letters and numbers as well as a mix of lower and upper case words, could reduce the risk of fraud. You should also use different passwords for all your different accounts.

4. Never share your PIN

Even telling your friends and family could put you at risk of fraud. It’s not just a matter of trusting your nearest and dearest, if you tell someone your PIN number, it could be considered ‘gross negligence’ by your provider who may not refund the stolen money.

Declan Murray

Declan Murray has worked at Clearstart since it was acquired by it's parent company, Fairpoint Group, in 2007. As a senior debt advisor Declan works alongside specialist Insolvency Practitioners and advises customers on all aspects of their debt including IVAs from first call right through to closures. Declan has been an active forum specialist since 2009 on IVA.co.uk - a popular, award winning forum providing IVA support.

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Would-be energy savers should try these top five ways to conserve energy in their home and they could soon be saying hello to energy efficiency;

1. Insulate your hot water tank

Your hot water tank may be losing energy without you even realising it. Adding insulation to your hot water tank could decrease the levels of energy loss by up to 70%. Homeowners already pay out hundreds to heat their water so installing a water tank jacket with a minimum thickness of 75mm, at just a few pounds, could make you savings of between £15 and £20 per year.

2. Insulate your loft

Adding loft insulation to prevent heat escaping out of the roof is one energy saving measure that could really serve to reduce heating bills. Lining your loft with insulation, which can easily be purchased from DIY stores and fitted, could see energy bills slashed by up to £200 a year. Loft insulation with a thickness of 270mm is normally recommended and some DIY stores may offer reductions if you bulk buy.

3. Switch to energy saving light bulbs

Although energy saving light bulbs may appear slightly dimmer, what you lose in light you gain in energy efficiency. Some stores offer energy saving bulbs under £1 and when you consider that lighting makes up 15% of our electricity bills, it is well worth making the change. If you replace all your lights with energy saving ones you could save roughly £45 a year.

4. Turn it off

Turn off lights and other switches when not in use and use an energy monitor, most fuel companies can provide this, to check how much energy you are saving.

5. Block out draughts

Sealing windows, and doors correctly as well as using draught excluders to keep the heat in is critical. It is estimated that the average home can attribute 20% of its energy loss to draughts.

Debt problems

If you feel that mounting debt problems are pushing you further into debt, you may want to seek out confidential advice from Clearstart. We can help to address your debt problems and find a suitable debt management program for you.

Declan Murray

Declan Murray has worked at Clearstart since it was acquired by it's parent company, Fairpoint Group, in 2007. As a senior debt advisor Declan works alongside specialist Insolvency Practitioners and advises customers on all aspects of their debt including IVAs from first call right through to closures. Declan has been an active forum specialist since 2009 on IVA.co.uk - a popular, award winning forum providing IVA support.

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The legislation, that will see temporary workers enjoying many of the same benefits as their permanent counterparts, has forced a third of employers to admit that they will sack temps to avoid incurring the additional costs brought about by the new directive.

A survey of 42 recruitment agencies by the Association of Professional Staffing Companies (Apsco), found that 29% would let temporary employees go even before 3-month trial periods are up.

Phil Hutchinson, Operations Manager at g2 recruitment, said: “Some clients have already begun the process of terminating contracts.”

The new EU Agency Worker directive, which came into force in October 2011, puts temporary and permanent employees on a par in relation to pay and other employment rights.

Ann Swain, Chief Executive of Apsco, said the impact of the directive would be far reaching. “At a time when unemployment among young people has surpassed one million, any barrier to securing work has to be questioned,” she added.

First put into place by the Labour government, then refined by the Department for Business, Innovation and Skills (BIS), post-election the coalition government announced that the directive would be given the go ahead.

The BIS have made predictions about the financial impact of the new laws and argue that it will cost businesses over £1.8 billion a year.

An average small business will pay an additional £2,493 a year, rising to £73,188 for larger businesses.

The additional taxes generated by employees’ soaring salaries is set to climb up to £332 million, with public sector workers stumping up an additional £259  million a year.

Unemployment can lead to debt problems

Temporary employees who lose their jobs as a result of the new legislation could join the millions in the UK who are struggling to make ends meet. Those who are unemployed risk falling into debt. Losing your income can seriously hinder your personal finances.

Whilst 101,000 people became self employed in the last year, experts fear that this is just a case of people doing ‘odd jobs’ to avoid the dole queue.

If you face mounting debt problems, ClearStart could help. Our services could help to find a suitable debt management solution for you.

Declan Murray

Declan Murray has worked at Clearstart since it was acquired by it's parent company, Fairpoint Group, in 2007. As a senior debt advisor Declan works alongside specialist Insolvency Practitioners and advises customers on all aspects of their debt including IVAs from first call right through to closures. Declan has been an active forum specialist since 2009 on IVA.co.uk - a popular, award winning forum providing IVA support.

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The total jobless figure has hit a 17-year high as the economy has continued to struggle. The number of available jobs has also fallen and the government’s wave of public spending cuts has only added to mass unemployment.

As a result, more people are being forced to work part time simply to remain in some form of employment. The number of 16 to 24 year olds out of work is also officially at a record high.

Youth unemployment has hit 1.04 million, with 22.3% of youngsters out of work. However, this figure is thought to include approximately 313,000 youngsters who are in full time education and are looking for work.

As job hunting becomes increasingly desperate, millions have resorted to working part time as there are just not enough full time roles.

The number of part time workers has jumped to 44,000 on the quarter, reaching the highest levels since comparable records began in 1992.

People who are involved in temporary work rose by 10,000 over the same period. That figure accounts for a third of all the temporary workers operating at the moment.  

The unemployment rate also increased from 8.3% to 8.4% between September and November, the highest level since 1995.

ONS found that the number of people claiming Jobseeker’s Allowance increased by a staggering 1,200 last month, bringing the total number of people on benefits to 1.6 million.

Despite this, this figure is much lower than the 10,000 increase which was initially anticipated.

Unemployment can lead to debt problems

As millions struggle to make ends meet, those who are unemployed risk falling into debt. Losing your income can seriously hinder your personal finances.

Whilst 101,000 people became self employed in the last year, experts fear that this is just a case of people doing ‘odd jobs’ to avoid the dole queue.

If you face mounting debt problems, ClearStart could help. Our services could help to find a suitable debt management solution for you.

Declan Murray

Declan Murray has worked at Clearstart since it was acquired by it's parent company, Fairpoint Group, in 2007. As a senior debt advisor Declan works alongside specialist Insolvency Practitioners and advises customers on all aspects of their debt including IVAs from first call right through to closures. Declan has been an active forum specialist since 2009 on IVA.co.uk - a popular, award winning forum providing IVA support.

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Research from Prudential, the leading insurance company, found that the average annual retirement income has dropped by 16% since 2008 to just £15,500 per year.

The high cost of living and the harsh bite of inflation has left a staggering one in five people expecting to retire on less than £10,000.

Fewer than two in five expect to be ‘financially comfortable’ in retirement, the survey found.

Vince Smith-Hughes, Prudential’s retirement income expert, said; “The current economic climate has created the perfect storm for people in the run up to retirement. The impact of the credit crunch, banking crisis, recession, and concerns over the Euro-zone, has been reflected in the fact that expected retirement income levels have hit a five-year-low.”

“For those who are still working, it has never been a more important time to save into a pension. The longer that savings are invested in a retirement pot, the greater the opportunity they will have to grow,” continued Mr Smith-Hughes.

Londoners have the highest average expected retirement income at £17,900, while those in Yorkshire and Humberside have the lowest at just £12,800.

Many may have to work for longer or seek other means of income to fund their activities later in life. Annuity rates have fallen by a massive 8% over the past 12 months and this has had a huge impact on the value of pensions in a private pension fund.

Rising debt

Millions of Brits entering retirement face a tough time as the cost of living becomes extortionate. Those with private pensions could feel the pinch as they get older.

Many who are struggling to cope are resorting to using loans or credit to simply get by each day. This could put pensioners at risk of serious debt problems.

Declan Murray

Declan Murray has worked at Clearstart since it was acquired by it's parent company, Fairpoint Group, in 2007. As a senior debt advisor Declan works alongside specialist Insolvency Practitioners and advises customers on all aspects of their debt including IVAs from first call right through to closures. Declan has been an active forum specialist since 2009 on IVA.co.uk - a popular, award winning forum providing IVA support.

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According to a report by the Institute of Fiscal Studies for the Family and Parenting Institute (FPI), the average household with two children will face a staggering income drop of 4.2% by 2015-16. That’s the equivalent to £1,250 a year for a couple with children.

This massive drop in household income could potentially put over 500,000 children into poverty. However, those without children will only see a drop of £215 a year in their income.

The high cost of living is fast becoming extreme for most UK families and deadly to those on low incomes.

The report highlighted that larger families and single parents will be hit hardest financially over the next few years. Families with three or more children and those living in private rented accommodation are most likely to see a fall into poverty.  

Unemployed single parents face an eye-watering 12% fall in their income by 2014-15. That’s £2,000 per year lost to inflation and the economic downturn.

As the poverty rates increase across the country, the rate of poverty for Pakistani and Bangladeshi children has increased by more than 5%. According to the research, child poverty has the worst impact on children under 5 years old.

The rising cost of childcare and a reduction in ‘real’ wages has had a significant impact on UK families, yet children are shouldering the financial burden more than most.

“Not only do families face a challenging 2012, but looking further ahead we see evidence of more financial strain to come,” commented Dr Katherine Rake, Chief Executive of FPI.

Debt problems

Under the current economic climate, many UK households are feeling heavy blows of financial pressure. If you are struggling to cope and have mounting debt problems, it would be advisable to seek advice from professionals at ClearStart.

Declan Murray

Declan Murray has worked at Clearstart since it was acquired by it's parent company, Fairpoint Group, in 2007. As a senior debt advisor Declan works alongside specialist Insolvency Practitioners and advises customers on all aspects of their debt including IVAs from first call right through to closures. Declan has been an active forum specialist since 2009 on IVA.co.uk - a popular, award winning forum providing IVA support.

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