Archive for June 2011

Rogue Traders Capitalising On Currency Financial Climate

June 21, 2011

The Citizens Advice Bureau has issued a report stating that there has been an “unprecedented boom” in scams playing on people’s hope for a job or a home.

There have been complaints that people have asked for upfront payments in order to get a job. The jobs have turned out to be non-existent. These scammers have played upon people’s fear of unemployment or losing their homes due to debt.

Some charities have said that there is no unified body that will take action against con-artists. While this is the case it is hard for effective action to be taken against scammers.

The government is now planning to split the responsibilities for combating scams between trading standards officers and Citizens Advice.

In the current economic climate consumer protection needs to be a priority. Vulnerable members of society are being taken advantage of by confidence tricksters.

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35.0% Of Britons Take Alcohol Off Their Shopping Lists In Order To Keep Costs Down

June 10, 2011

Millions of people are slashing their spending in order to stay on top of their finances. Take-aways and alcohol are often the first things that are struck of peoples’ shopping lists.

People do not want to delve into their savings in order to support their lifestyle. People ideally want to save for retirement or for large expenses such as buying a house.

40.0% of people have said that they have reduced their spending since last year. It is noticeable that more people are not going on foreign holidays or going out as much as in previous years.

Many people are trying to cut back their spending in order to get out of debt. The bottom line is that people are not feeling financially confident and they are worried. Some people have said that there have been no clear signs that the UK economy is recovering.

Interest Rates Still Held At 0.5%

June 9, 2011

Interest rates have been kept at the record low of 0.5%. This is now the 27th month that interest rates have been kept on hold.

This news will come as some relief to families who have taken out mortgages. This delay will mean that they will not be paying back too much money yet.

The Bank of England Monetary Policy Committee (MPC) is still divided over the question of raising interest rates. Some members of the MPC have argued that raising interest rates could knock the UK economy of its recovery course.

The economy has already looked weak this year and some have predicted a double dip recession. These kinds of conditions make the MPC members reluctant to change things.

The delay in raising interest rates will come as a blow to those with large amounts of savings as inflation may mean that they are losing money.

Insure Your Possessions If You Are Heading To A Festival This Summer

June 2, 2011

Crime figures reveal that almost £190,000 worth of possessions were stolen at festivals last summer.

Festivals may seem to be places of harmony and good will, but scratch the surface and you will find an altogether more sinister underworld. One seventh of festival goers found themselves victims of theft last summer.

People don’t think when they leave their possession in their tents. Festival goers insist on bringing cameras, iPods and expensive clothes to festivals. All of these items are prized by thieves.

Festival goers must consider purchasing insurance. Gadget insurance is a particularly prudent investment.

Last year there was even a rape allegation made at Latitude festival. This should go some way to illustrating the dangers of the festival circuit.

Young people often go to music festivals in order to experiment with narcotics and alcohol while listening to heavy techno etc.

Those who go to festivals should remain vigilant.