Look After the Pennies
You can use the internet to make the most of your money. You will find financial information and products online which aren't available on the High Street. Here are just a few ideas of how to make the most out of your money.
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Check your Credit Rating - Use a reputable credit reference agency to check your credit rating. Mistakes can happen and you need to make sure that your details are up-to-date and correct. Your can check online at Experian and sign-up for a 30-day free trial online.
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0% Credit Cards - Look out for credit cards with an opening deal of up to 12 months interest free credit on new purchases. It doesn't mean you'll spend less but you will pay less interest for a while. Alternatively you could transfer your existing credit card balance to a new card that charges 0% on balance transfers, but bear in mind that you may have to pay a fee to transfer your balance.
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Find Unclaimed Funds - Check out the Unclaimed Assets Register, a unique search service that helps you find your lost assets and re-establish contact with financial institutions. They will charge a small fixed fee.
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Check your Direct Debits - The upside of using direct debits to pay your bills online is that you may get a small discount, say from utility companies. The downside is that if you cancel a subscription or insurance product, for example, you will also need to remember to cancel the direct debit or the payments will continue to disappear from your bank account.
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Cashback Credit Cards - Some credit card companies offer cash back when you use their card. They usually offer about 0.5% cash back on each purchase and are well worth using, especially if you pay off your balance in full each month.
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Utility Switching - It may seem like an effort but by switching your gas, electricity or telephone supplier you could save hundreds of pounds a year. Use one of the leading online utility switching companies to check how much you could save.
Online Auctions
You probably already know how popular the online auction sites are - they are great places to find a bargain and even new items can be bought at considerably less than full price. Ebay is the UK's largest, and perhaps the most well known, online auction site in the UK. Quite simply you can buy or sell anything, whether new or used.
Whether buying or selling, the usual auction rules apply and people will bid for a specified item with a pre-determined end time. The person who bids the most will 'win' the item. The buyer will pay the postage costs and the seller will pay a small fee to have their item listed on the site.
We've used ebay many times, for both buying and selling items, and it is worthwhile spending some time looking around the site and getting a feel for how it works. Ebay, along with the other online auction sites, is a very useful internet resource.
Auction Tip: Delivery charges on auction sites will vary from seller to seller. Be aware that, if the price of an item seems very cheap, the delivery charge could be disproportionately high. However, all delivery charges are listed next to the bid price so make sure you check before you bid.
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