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The Money Thread - tips, advice and articles 
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Legend
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Davos 2011: Soros warns UK cuts could cause recession


Quote:
The UK government's austerity policy could push the country back into recession, the famous investor and fund manager George Soros has warned.

While the UK government "may be right by embarking on [cuts], I think they will probably have to modify it when the effects are felt," Mr Soros said.

While he had been very positive at first, the policy was "unsustainable".

Mr Soros is known as "the man who broke the pound" during the 1992 currency crisis, forcing a sterling devaluation.

Speaking on the sidelines of the World Economic Forum in Davos, Mr Soros said the biggest threat to the UK economy had been a deflationary trap, where rising debt and falling prices reinforce each other in a hugely damaging spiral.

This "has been successfully fought off," Mr Soros said, although the "balance is now tipping the other way", towards inflation.

However, while Mr Soros' words often carry a lot of weight in financial markets, he is not without his detractors.

And Mr Soros himself refused to elaborate on his remarks, acknowledging that he did not follow the UK economy "that closely".

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Wed Jan 26, 2011 8:45 pm
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Legend
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Financial crisis of 2008 avoidable, says US inquiry

http://www.bbc.co.uk/news/business-12297002

Quote:
Regulators, politicians and bankers were to blame for the 2008 US financial meltdown, a report has claimed.

The US Financial Crisis Inquiry Commission, tasked with establishing the causes of the crisis, said it was "avoidable".

Its report highlighted excessive risk-taking by banks and neglect by financial regulators.

Only the six Democrat members of the 10-strong commission, set up in May 2009, endorsed the report's findings.

"The crisis was the result of human action and inaction, not of Mother Nature or models gone haywire," the report said.

"The captains of finance and the public stewards of our financial system ignored warnings and failed to question, understand and manage evolving risks within a system essential to the well-being of the American public.

"Theirs was a big miss, not a stumble."

Well it was clear years ago who was to blame. Bankers asked politicians for these changes.

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Thu Jan 27, 2011 4:59 pm
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Legend
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One in three rely on credit cards to make ends meet

http://www.telegraph.co.uk/finance/pers ... -meet.html

Quote:
Around 34pc of people with a credit card said they had had to use it to cover everyday expenses to see them through to their January payday.
More than two out of five people also admitted they had used their credit card to pay for their grocery shopping during the month, according to the Post Office.
One in 10 people who were using their credit card to make ends meet said they had to do so because of the long gap between their December and January paydays, while 11pc of people said it was because they had overspent at Christmas.
But 33pc of those who used their credit card admitted they relied on their plastic to cover the gap between their income and their spending every month.
Half of people with a credit card said they expected to spend the same amount on it during 2011 as they had in 2010, although 7pc thought they would spend more, a third of whom thought they would spend an extra £100 a month.

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Mon Jan 31, 2011 7:18 pm
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I haven't seen my friends in so long
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best tip


buy the only winning ticket on a triple rollover euro millions lottery ticket. Problems solved!

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Mon Jan 31, 2011 9:25 pm
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Legend
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bobbdobbs wrote:
best tip


buy the only winning ticket on a triple rollover euro millions lottery ticket. Problems solved!

Any tips on how to do that? ;)

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Mon Jan 31, 2011 9:49 pm
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Highest fixed rate mortgages for six months

http://www.telegraph.co.uk/finance/pers ... onths.html

Quote:
But latest figures suggest the cost of fixed rate deals has risen sharply during the past six months and will continue to do so amid fears that the Bank of England will increase interest rates sooner than expected.
The cost of a typical five year fixed rate deal has reached 5.45 per cent, the highest level since August last year, according to the research by personal finance website Moneyfacts.

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Do concentrate, 007...

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Tue Feb 08, 2011 12:51 pm
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How to cut the cost of your half-term holiday

http://www.telegraph.co.uk/news/uknews/ ... liday.html

1. Book early – the earlier you book for school holiday dates, the better the chance of getting the destination and accommodation of your choice with an offer price or early booking discount. Once you have found the best price you can using price comparison as part of your search, then be cheeky and ask for additional money off when you make your booking. The earlier you book, then the better the overall price except when you are prepared to accept what is left, if anything at peak holiday times.
2. Shop around for offers – it really pays to shop around for deals, with the best bargains usually being found online. Use comparison sites such as http://www.travelsupermarket.com for the latest prices on holidays, flights, hotels, cruises and car hire.
3. Compare package prices against booking separate flights and hotel – It is always worth looking at the options to see if you can create a cheaper ‘package’ yourself. Similarly, it may also be worth seeing if a package holiday works better for your trip. If you choose to DIY your trip make sure that you have financial protection in paying by a credit card or Visa debit card and that you have travel insurance with end supplier failure. Only ATOL backed package holidays will have CAA protection for 'free'.
4. Be flexible with your dates – try and book midweek dates and if you can. Flights in particular are generally much cheaper mid-week. And consider destinations that are less popular where prices will be keener than the top resorts.
5. Pick your destination carefully – with the lower value of the pound against many currencies you can make your holiday money go miles further by looking carefully at the cost of living. Places like Turkey, Morocco and Egypt have seen rising costs, so consider all inclusive holidays here to manage your budget. Places like Spain and Portugal have become far cheaper and the pound to Euro level has been holding steady now for many months, bringing these countries back into the frame. Avoid long haul destinations to cut down on high APD rates as well as poor exchange rates, e.g. South Africa, Australia, Canada and the non Spanish speaking Caribbean.
Half term holiday premiums add £1,000 to family holiday
6. Don't forget holidays in the UK – cottages, self-catering apartments, hotels and holiday parks are as popular as ever, although you are hit with VAT rises this year, so book early to get the best deals.
7. Look at the total cost of your holiday – If you are booking separate flights and hotel, look carefully at what is included, particularly in regards to airline charges. Pay careful attention to baggage allowances, credit card booking fees and seat reservations as well as meals in resort and spending money.
8. All-inclusive holidays – set your price in the UK and enjoy a hassle-free break with meals, drinks and many activities all included in the price - great for families watching the budget and wanting to keep everyone entertained on their break. All-inclusive deals are proving exceptional value in places like Cuba, Mexico and the Dominican Republic as well as places where costs have gone up such as Egypt and Turkey.
9. Self-catering holidays – are great for keeping food costs down in resort. Pick up bargains in the local supermarket and cook back at the apartment rather than eating out in restaurants every night.
10. Save money on extras – don't forget to pre-book all of the little things that add up - travel insurance, airport parking, transfers, car hire and activities in resort. The savings made here with just a little planning can give you enough to fund many days of spending money. Recent research has shown that the average family can save over £600 by planning ahead and comparing the price of items such as car parking, insurance, car hire and travel money.

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Do concentrate, 007...

"You are gifted. Mine is bordering on seven seconds."

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Wed Feb 16, 2011 5:15 pm
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Legend
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Tesco caps Price Check offer after paying refunds

http://www.bbc.co.uk/news/business-12860027

Quote:
Supermarket giant Tesco has been forced to put a cap on its offer to refund double the difference on products that can be bought for less at Asda.

After some customers found better deals at Asda and claimed money back through its Price Check offer, Tesco introduced a £20 maximum refund.

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Do concentrate, 007...

"You are gifted. Mine is bordering on seven seconds."

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Fri Mar 25, 2011 2:29 pm
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I haven't seen my friends in so long
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Joined: Fri Apr 24, 2009 1:03 pm
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Amnesia10 wrote:
How to cut the cost of your half-term holiday

http://www.telegraph.co.uk/news/uknews/ ... liday.html

1. Book early – the earlier you book for school holiday dates, the better the chance of getting the destination and accommodation of your choice with an offer price or early booking discount. Once you have found the best price you can using price comparison as part of your search, then be cheeky and ask for additional money off when you make your booking. The earlier you book, then the better the overall price except when you are prepared to accept what is left, if anything at peak holiday times.
2. Shop around for offers – it really pays to shop around for deals, with the best bargains usually being found online. Use comparison sites such as http://www.travelsupermarket.com for the latest prices on holidays, flights, hotels, cruises and car hire.
3. Compare package prices against booking separate flights and hotel – It is always worth looking at the options to see if you can create a cheaper ‘package’ yourself. Similarly, it may also be worth seeing if a package holiday works better for your trip. If you choose to DIY your trip make sure that you have financial protection in paying by a credit card or Visa debit card and that you have travel insurance with end supplier failure. Only ATOL backed package holidays will have CAA protection for 'free'.
4. Be flexible with your dates – try and book midweek dates and if you can. Flights in particular are generally much cheaper mid-week. And consider destinations that are less popular where prices will be keener than the top resorts.
5. Pick your destination carefully – with the lower value of the pound against many currencies you can make your holiday money go miles further by looking carefully at the cost of living. Places like Turkey, Morocco and Egypt have seen rising costs, so consider all inclusive holidays here to manage your budget. Places like Spain and Portugal have become far cheaper and the pound to Euro level has been holding steady now for many months, bringing these countries back into the frame. Avoid long haul destinations to cut down on high APD rates as well as poor exchange rates, e.g. South Africa, Australia, Canada and the non Spanish speaking Caribbean.
Half term holiday premiums add £1,000 to family holiday
6. Don't forget holidays in the UK – cottages, self-catering apartments, hotels and holiday parks are as popular as ever, although you are hit with VAT rises this year, so book early to get the best deals.
7. Look at the total cost of your holiday – If you are booking separate flights and hotel, look carefully at what is included, particularly in regards to airline charges. Pay careful attention to baggage allowances, credit card booking fees and seat reservations as well as meals in resort and spending money.
8. All-inclusive holidays – set your price in the UK and enjoy a hassle-free break with meals, drinks and many activities all included in the price - great for families watching the budget and wanting to keep everyone entertained on their break. All-inclusive deals are proving exceptional value in places like Cuba, Mexico and the Dominican Republic as well as places where costs have gone up such as Egypt and Turkey.
9. Self-catering holidays – are great for keeping food costs down in resort. Pick up bargains in the local supermarket and cook back at the apartment rather than eating out in restaurants every night.
10. Save money on extras – don't forget to pre-book all of the little things that add up - travel insurance, airport parking, transfers, car hire and activities in resort. The savings made here with just a little planning can give you enough to fund many days of spending money. Recent research has shown that the average family can save over £600 by planning ahead and comparing the price of items such as car parking, insurance, car hire and travel money.


OR

Don't have kids then you can go outside of school holidays and save a fotune! :D

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Fri Mar 25, 2011 4:13 pm
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Legend
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hifidelity2 wrote:
OR

Don't have kids then you can go outside of school holidays and save a fotune! :D

You could always do a Josef Fritzl and keep the buggers in the cellar so you can go on holiday whenever you want.

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Do concentrate, 007...

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Fri Mar 25, 2011 4:54 pm
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Budget changes will 'cut income by £200'

http://www.bbc.co.uk/news/business-12950889

Quote:
A financial education charity says tax and benefit changes coming into force in the coming week will leave households £200 worse off.

They include a one percentage point rise in the charge for National Insurance and a lower threshold at which the higher rate of tax applies.

Credit Action says of the 44 changes to both systems only 13 will have a positive impact.

It says 26 of the changes will have a negative impact on people's pockets.

So what would you have spent your £200 on?

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Do concentrate, 007...

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Sun Apr 03, 2011 9:09 pm
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Amnesia10 wrote:
So what would you have spent your £200 on?

Pay 200 small boys to let David cameron's tires down every day for the next 6 months.

Jon


Sun Apr 03, 2011 9:22 pm
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Legend
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jonbwfc wrote:
Amnesia10 wrote:
So what would you have spent your £200 on?

Pay 200 small boys to let David cameron's tires down every day for the next 6 months.

Jon

That would have been good.

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Do concentrate, 007...

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Sun Apr 03, 2011 9:28 pm
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jonbwfc wrote:
Amnesia10 wrote:
So what would you have spent your £200 on?

Pay 200 small boys to let David cameron's tires down every day for the next 6 months.

Jon

Oooo.... good one...

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Sun Apr 03, 2011 9:53 pm
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jonbwfc wrote:
Amnesia10 wrote:
So what would you have spent your £200 on?

Pay 200 small boys to let David cameron's tires down every day for the next 6 months.

Jon

Labour must be cheap in your area ;)

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Sun Apr 03, 2011 10:41 pm
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