31/12/2010 by TonyM.

If you loose your job no!

You must use up most of your savings, in fact you can have only £6,000, in order to claim benefits. So there is yet another drawback to being unemployed.

You can have no or very little savings, while people with jobs have just been awarded a compensation limit who lose money if their bank or building society goes bust, has just increased from £50,000 to £85,000.

Compensation will be paid by the FSA and they said that the new limit would cover the “vast majority” of savers in the UK.

Those with money get and retain money while those without get poorer. I hate this unfair world, I’m just waiting for Armageddon when things might even themselves out!

Posted in Finance | 5 Comments »

12/12/2010 by Dandy.

The bosses of 5 of the biggest 6 energy companies have told the governments Energy Committee that energy bills are likely to rise in years to come. The “inevitable direction of wholesale prices” mean that domestic bills are going to get more expensive over the next ten years. Details from watchdog Consumer Focus show that people with the same supplier but living in different parts of the UK have bills that vary by up to £59 per annum.

The head of energy at Consumer Focus has said: “With 4 of the big 6 suppliers having now announced price rises averaging 6 per cent, the focus on [regulator] Ofgem’s review of whether energy prices are justified will be even sharper.”

Ofgem recently announced that it would conduct a review into the domestic energy market after figures showed a sharp rise in suppliers’ profit margins. It seems now that they make about £90 per typical customer.

About time Ofgem, so it is now even more important to Switch and Save.

Posted in Finance | 2 Comments »

05/12/2010 by Fin.

In my opinion there are many advertisements particulary on television that are misleading, I think that most of them need looking into by the Advertising Standards Authority. A recent advertisement for Argos has just been banned for making claims about “convenient” delivery times. The ASA said that their claims were misleading. The TV advertisement said that Argos would deliver “at a time slot that’s right for you”. This turns out to be only slightly misleading but I am convinced that there are bigger misleading claims from other advertisers. The ASA need to get off their arses and do their job and stop these compulsive liars.

The ASA is the United Kingdom’s independent regulator of advertising across all media which includes internet, TV, direct marketing and sales promotions. They ensure that advertisements are legal, decent, honest and truthful by applying the current Advertising Codes.

Posted in Finance | 2 Comments »