 |  | By Julia Kukiewicz Staff Writer Friday, 18 April 2008 |
Money News Roundup
If you only do one thing with your money this week...
Make sure you take a looks at how you could increase your wealth by beating the base rate and signing up to fixed rate bonds.
As the Bank of England base rate falls banks have had to come up with new incentives for consumers to sign up to long term fixed rate deals.
Alliance & Leicester are offering 6.83% for their six-month fixed-rate bond and Bradford & Bingley are offering 6.7% for the same thing when you invest £1000.
There are loads more great offers out there so go get them before they’re gone!
Previous Money News Roundups
See our other recent Money News Roundups and other related news stories:
Money News Roundup (11 Apr 08)
A glance back at this week's personal finance news, including why men really are worse drivers than women, how the Mail on Sunday is railing against the new coin designs, how to get up on the property ladders and 'poor old' HSBC gets into a bit of bother over lost documents.
Money News Roundup (04 Apr 08)
What's been going on in the world of personal finance this week? The new bank code promises to make banks clean up their acts, ex-Northern Rock head honcho gets a nice fat cheque, university tuition fees are set to rise and why you should be transferring your credit card balance.
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THIS is the week of refusing to put up with it. Women over 40 are getting paid less, bad service is costing us £6.6bn a year, the mortgage market is a mess and is it just me or is it hot in here?
The Ultimate Green Investment… A Rainforest
LOOKING for a cutting-edge eco-investment? Let’s face it trading carbon emissions is a little passé now: how does a slice of the rainforest sound?
Until now the only way to make money out of rainforest was to cut it down and build a farm on it.
But since rainforests seed clouds, lock in carbon and cool the atmosphere that’s not exactly eco-friendly.
Invest with Canopy Capital, however, and you could put a price on those uniquely global warming-combating features of the Guyanan countryside.
The investment is a big risk which rests on governments realising that dealing with the results a rapidly heating planet will be far more expensive than preserving forests.
If you’re looking for a less risky – and less expensive - ethical investment try a Fairtrade bank account from the Co-op bank, Ecology BS, Triodos or the Unity Trust Bank.
£6.6bn? That is Bad Service…
BAD service and faulty products - usually from financial services companies – have cost UK consumers an eye-watering £6.6bn a year, an Office of Fair Trading survey showed this week.
The report, which was based on information from over 10,000 customers, found 26.5m instances of consumers losing out after being treated poorly by companies.
Financial services companies accounted for 45% of losses with 55% of consumer problems resulting in a loss of £5 or less, while 4% led to huge losses of more than £1,000.
Overall, insurers were the worst offenders.
However, the OFT promised that the results of the report would help focus their work and help consumers to get the fair treatment that they deserve – about time!
Women Over 40 Lose Pay
20.3% of women aged 40 to 49 are still getting paid less than their male counterparts, the office of national statistics has found.
The gap was largest in traditionally ‘male’ jobs such as painters and decorators (25.4%) and managers (23%) while full-time secretaries were the only group where women earned more than men, although only by 5.8%.
Career breaks for older women to care for children and elderly parents – resulting in less work experience - are the likely cause of the gap according to the report.
It’s no excuse though is it? In fact, it’s illegal – don’t take it any more ladies.
Government Wades in to Mortgage Market
THE government has waded into the mortgage market in an attempt to ease the crisis as thousands of people struggle to find an affordable new arrangement.
The proposed scheme would allow banks to lend to each other making it easier for them to lend to consumers.
However, the Liberal Democrats have criticised the plans saying that the taxpayer shouldn’t be liable for the banks’ mistakes.
And Finally, If You do One Thing This Week…
AND finally if you do one thing this financial week make sure you take a looks at how you could increase your wealth by beating the base rate and signing up to fixed rate bonds.
As the Bank of England base rate falls banks have had to come up with new incentives for consumers to sign up to long term fixed rate deals.
Alliance & Leicester are offering 6.83% for their six-month fixed-rate bond and Bradford & Bingley are offering 6.7% for the same thing when you invest £1000.
There are loads more great offers out there so go get them before they’re gone!
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