- Warning. Beware of financial advisers promising unusually high investment returns.
- In Money Marketing this week the Financial Services Authority is warning advisers about the dangers of selling dodgy non regulated investment products. What about warning the public?
- Wed 28th Jul 2010
- Have you been miss-sold your mortgage and are now stuck in mortgage hell.
- I have been speaking to a number of mortgage gurus over the last few days and the prickly topic that keeps cropping up is mortgage miss-selling.
- Wed 14th Jul 2010
- Bank of England to hold interest rates until May 2011. Good news.
- The british chamber of commerce have stated that rates will be on hold for quite some time.
- Tue 6th Jul 2010
Card holders 'struggling to clear Xmas spending'
Tue 15 Jan 2008 4pm
Many British consumers will struggle to pay off their credit card debts by the end of January, a new report has claimed.According to research from Sainsbury's Finance, 39 per cent of the nation's card holders do not expect to clear their outstanding balance by the end of the month, due to their high level of expenditure over the festive period.
Estimating that about 18 per cent of Christmas spending in the UK this year was placed on plastic, the financial services provider is advising card users to think about balance transfers if their credit burden becomes too much to handle.
"Our research indicates that around 8.6 million people intended to put half or more of their festive spending on cards," said Donald MacLeod, head of cards at Sainsbury's.
"Those Yule-time shoppers who anticipate being unable to clear their credit card bills by the end of this month should consider spreading the cost and transferring their balance to a new card," he added.
A recent report from the Post Office stated that one in four British consumers are more dependent on their credit cards now than they were at the beginning of 2007.
