Forum Replies Created
October 14, 2020 at 10:04 in reply to: #157728October 14, 2020 at 10:03 in reply to: #157727October 14, 2020 at 10:03 in reply to: #157726October 14, 2020 at 10:02 in reply to: #157725
Also, if your hotel has to close because of the lockdown, they should give you a refund or offer an alternative date! If you’ve got train tickets booked, you should be able to refund them (unless on a super cheap non-refundable tariff), less an admin fee (usually £10).
Sorry to hear you’re having a rough time of it. Have you spoken to the Citizens Advice Bureau? They may be able to help advocate for you. Also, your GP may have a patient advocate service that helps people get the care they need, if you haven’t asked them yet it could be worth a shot.
With the rules all over the place with lockdown, safety at work, PPE etc, it’s very hard to know what’s going on. If you’ve received the care previously and the service was stopped due to lockdown, I don’t really understand why you’ve then got to have a new assessment to restart it – that’s a point to argue with them.
Have you heard of the website/app called NextDoor? It’s a local site that connects people in your community – it could well be worth signing up to ask if anyone knows of local charities etc that could be of help in your situation, too. You might find some kind people offer additional assistance such as going to the shops for you (and the NHS volunteer groups are still running so they might help, too).
If you’re feeling low, remember the Samaritans are always there for you 24/7 on 116 123 (no area code required), or you can write to them via email or post – the info is here: https://www.samaritans.org/how-we-can-help/contact-samaritan/
While I like the convenience of things like tap and pay, I’m a big advocate for cash in the majority of instances. I like to be able to see how much money I’m physically spending, and when I was hugely in debt about ten years ago I used cash envelopes to budget for bills each month. It really helped stop me applying for credit and learn to live within my means!
Getting rid of cash altogether alienates many people, so I’m hoping it won’t happen. However, an argument I had with the grocery shop cashier suggests shops will try to push it. (Argument: cashier told me to pay by card, even though I had the cash in my hand. Insisted I had to pay by card because cash wasn’t safe to handle – I said I had no card that could be used and he could either accept my cash or put everything back on the shelves. It was my Big Shop. He chose to take the cash – proving that they DO take cash, but try to push card payments wherever possible!).
Fixed rate ISAs work if you can afford to lock your money away for a period of time. If you need quick access to the cash as an emergency fund, the interest rate you earn is negligible. However, if you want to make money from your savings and can afford to put it aside for at least five years, it might suit you better to spread your investments across your ISA as well as an equities ISA and/or stock investments.
Interest rates are so poor right now – and set to be horrendous for some time – that you may find investing your spare capital is more likely to return more on your investment than leaving it in a savings account!
(**Not financial advice, please seek professional advice before making investments**)
A bank transfer is when you send money directly from your bank to another bank account. You need to make sure you know and trust the person you’re transferring the money to – unlike things like cheque fraud, it’s much harder to reclaim losses from fraudulent transfers.
If someone you don’t know is asking for a bank transfer, do serious research! If you think it’s legitimate, but don’t want to transfer, find out if there’s another way to pay them – for example, on a credit card, which offers you more protection.
It all depends on how much you have in your ISAs and where you want to move them to. Your savings are each protected up to £85,000 per banking group – your wife and you each get that allowance, so it’s not split between married couples.
We’ve just published this article, which explains who owns which banks: https://www.moneymagpie.com/manage-your-money/who-owns-who-protecting-your-money-under-fscs-rules
As long as you spread any money over £85k (each) across different groups, you’re protected if your bank goes bust. It’s the same for the NS&I ISAs, too – anything over that amount isn’t protected, although the risk of that bank going bust is negligible because, as you say, it’s the only state-backed bank with Treasury support.
Hope that helps!July 14, 2020 at 10:49 in reply to: Banks’ overdraft interest rates increase? – COVID-19 #155994
These changes CAN come into effect pretty much from now. Your bank has to write to you (this could be a text, email, or alert on your banking app, instead of a letter) to let you know if your overdraft is changing.
Some have already introduced the new rates in July, including: Nationwide, TSB, First Direct, Barclays, and Santander. Halifax and Lloyds are already on 39.9% rates and didn’t change (unless customers asked). Banks changing in August include HSBC, RBS (Natwest Select) and M&S Bank.
If you have a £500 emergency overdraft, it’s important to find ways to pay it off ASAP as the 0% leniency that was introduced in April is ending – so you’ll start paying fees.
Weirdly, the Bank of England hasn’t released a date yet! They’ve got to give six months’ notice of when it’ll happen, though, so we’ll know about it. Also, if you have any paper notes left after that date, or already have old paper fivers hanging around, the Bank of England still has to honour them and change for new ones. In fact, you can still take old £1 notes to the BoE and get them exchanged into today’s money!
A very relevant piece this week: https://www.moneymagpie.com/save-money/how-to-make-your-own-face-masks
Make face masks at home for free (or very little money) – ideal now that they’re compulsory in shops from next Friday!
In this week’s newsworthy articles, check out https://www.moneymagpie.com/manage-your-money/could-employers-force-pension-opt-outs-to-save-money to find out if your employer can tell you to opt out of your pension scheme.
Buying a house? Here’s the lowdown on the Stamp Duty holiday: https://www.moneymagpie.com/manage-your-money/the-stamp-duty-suspension-explained
And for some light-hearted reading, hop over to https://www.moneymagpie.com/make-money/can-you-really-make-money-vloggingJuly 8, 2020 at 05:49 in reply to: Should I be nervous about shops reopening on the highstreet #152407
So now things have started to reopen – have you been into town yet? Or are you still waiting for things to settle down?
I’m in York, and what’s been interesting here is how many places haven’t opened yet. They’ve got signs up saying “we’re opening in the next week/fortnight” because they, too, want to make sure they avoided ‘the rush’ that was anticipated last weekend. I think many shop owners want to see what’s working for other retailers before they make changes to their own store layouts etc, too.
I prefer shopping online anyway, especially as I’m disabled and some shops aren’t equipped to handle the simple “Excuse me, do you have a policy for Blue Badge holders?” question when faced with a very long queue. I even had one ask me to show the badge… when I said “well, it’s in my car…” they told me off for not having it on me! (You have to leave it in your car when you’re parked in a disabled bay, that’s literally the point of it). On good days, I’m happy to queue – but standing for a long time is not possible most days so a clear policy of how to handle it would be helpful.
What do you all think about masks? Should they be compulsory in shops?