Category Archives: Financial Management

Financial Management

Banks, Bonds, CDs, Checking & Savings, Credit Cards, Debit Cards, Debts, Financial, Financial Education, Financial Information, Financial Management, Financial Services, Financial Solutions, Home Equity, Insurance, Insurance Services, IRA, ISAs, IVA, Loans, Money, Mortgage, Online Banking

A New Government-Run Service Is Set To Provide Impartial Financial Advice For Millions Of UK Citizen

A new Government-run service is set to provide impartial financial advice for millions of UK citizens looking for help with money matters.

A New Government-Run Service Is Set To Provide Impartial Financial Advice For Millions Of UK Citizen

The service – called Moneymadeclear – was launched by Chancellor of the Exchequer Alistair Darling and will provide free consumer advice from independent financial experts.

Moneymadeclear gives people the chance to pick up the phone, talk face-to-face or get information online with regard to money worries, financial planning and information on consumer rights.

The service also gives advice to consumers who think they may have been mis-sold a financial product and don’t know what action to take.

A service such as this is long overdue says life insurance comparison site QuoteBoffin.co.uk:

“Consumers have long deserved a service that is concise and impartial as Moneymadeclear, especially for people who have concerns over money but do not know who to turn to.

Moneymadeclear also supports the different ways in which people take in information as well as the resources consumers have available. For example, some people prefer to use the web to get information whilst others are more comfortable meeting an advisor face to face and so forth.”

The Government has trialled the service in the North East and North West since last April. The trial helped 500,000 people and is expected to assist a million people in the next year alone.

Chancellor Alistair Darling said:

“Moneymadeclear is free, impartial advice for all, whether you are unsure about the small print in a mortgage form; want advice opening a savings account for your children or grand-children or want some help dealing with repayments before they get out of hand.”

In a post recession economy the importance of financial support for concerned consumers will undoubtedly be welcomed by people looking to firm up their finances.

QuoteBoffin.co.uk went on to say “Although the UK has officially left the recession it’s going to take many years to see a full recovery. This means that continued job losses, mounting debt and high interest rates will put continued strain on consumers.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Management, Financial Services, Financial Solutions, Money, Personal Finance

Barclaycard Freedom Scheme Customers To Receive Boost From npower

Barclaycard Freedom customers are being provided with the chance to boost their accounts by up to £160 of Reward Money in a year, thanks to npower’s new reward offer launch.

Barclaycard Freedom Scheme Customers To Receive Boost From npower

The reward, the first in the scheme to be paid regardless of the amount the customer spends on their card, is recorded in £s not points, and can be spent by customers immediately with tens of thousands of participating retailers across the UK.

Barclaycard Freedom, which launches in March, offers the concept of a rewards programme to many small and medium retailers for the first time. In addition to encompassing household names, including npower, over 30,000 retail outlets have been invited to be part of the scheme at launch. On average there will be 200 retailers within a five mile radius of where a Barclaycard cardholder lives and many more retailers are expected to join in the coming months.

Celebrating the partnership, npower is also doubling its sign-up incentive to £60* of Reward Money for Barclaycard Freedom customers transferring their gas and electricity to npower before May 17th 2010. Along with the £100 annual loyalty payment for both new and existing npower customers paying by monthly direct debit for both fuels, Barclaycard Freedom holders could earn enough in a year to buy a meal out for the entire family, special treat for someone or have a shopping spree online, simply by choosing npower as their gas and electricity supplier.

Giuseppe Di Vita, Managing Director of npower Retail Markets, commented: “Our customers have told us that they would like more freedom of choice in the way that they are rewarded for joining and staying with npower. Participating in the Barclaycard Freedom scheme enables us to give our customers the choice of up to 30,000 retailers to redeem their Reward Money. Our customers will benefit from a straightforward, simple and transparent way to get more value for their money.”

Via EPR Network
More Financial press releases

Banks, Checking & Savings, Credit Cards, Financial, Financial Management, Financial Services, Financial Solutions, Money, Personal Finance

Barclaycard Rollercoaster Glides To Top Spot

Barclaycard’s rollercoaster campaign has topped the AdWatch list of current advertising campaigns, with 60% of adults questioned by Marketing Magazine recalling the advert.

Barclaycard Rollercoaster Glides To Top Spot

Launched on 22 January 2010, the advert tells the story of an adventurous and innovative commute to work – on a rollercoaster. Filmed in New York and Hollywood using the ‘Spidercam’, the process involved a real rollercoaster cart, 40ft of working track, and complex CGI to create a complete, realistic vision of a rollercoaster weaving in and out of the city’s skyscrapers.

This new advert follows on closely from the success of Barclaycard’s previous waterslide advert, which also used the Spidercam, which had not been used since Sam Raimi employed it to film sections of the Spiderman movies, in order to highlight the flexibility and ease of use which contactless payments provide for cardholders and retailers.

The TV advert, created by BBH and directed by Nicolai Fuglsig, is part of a wider campaign that will include online adverts and a social media campaign set to reach more than 10 million people using Facebook. Barclaycard also plans to launch a Rollercoaster download game later this year.

The contactless payment technology at the centre of the advert was pioneered by Barclaycard in the UK in 2007; now, over six million contactless enabled cards are in circulation in the UK, and over 20,000 retailers across the country now accept contactless payments.

Via EPR Network
More Financial press releases

Banks, Checking & Savings, College Finance, Financial, Financial Management, Financial Services, Financial Solutions, Insurance, Insurance Services, Loans, Money, Personal Finance

Millions Of Brits Head Abroad In 2010 Bucking The Staycation Trend

  • 35.6 million Brits are heading abroad for their main vacation this year, suggesting a shift from 2009’s ‘staycation’ trend
  • 1/3 of holidaymakers blamed the UK’s recent cold weather as their main reason for travelling abroad to sunnier climes
  • 1 in 3 Brits still plan to travel in the UK for shorter breaks
  • 1/3 of Brits have already booked their main holiday for 2010, thought nearly 60 per cent admit they have not organised travel insurance
  • 8.5 million travellers admit they have required medical attention on a previous overseas trip

Millions Of Brits Head Abroad In 2010 Bucking The Staycation Trend

A survey of more than 2,000 UK residents has found that almost 60 per cent of Brits plan to take their main holiday abroad this year, bucking last year’s ‘staycation’ trend.

According to new research from Lloyds TSB Added Value Accounts, a third of holidaymakers blamed the recent icy snap as their main reason for wanting to go abroad this year, in search of warmth. But holidaying in the UK still remains popular, with one in three Brits intending to stay in the UK for short excursions.

Although a foreign holiday is more likely to be on the cards, holidaymakers are not going too far afield, with over 60 per cent of Brits visiting Europe for a holiday this year, making it the number one continent to visit for 2010, followed by America (12 per cent), Africa (5 per cent) and Asia (4 per cent). Sun and beach are also the number one priority for travellers this summer (45 per cent), with city breaks also proving to be a popular choice (23 per cent). Only 5 per cent are planning a cruise and only 3 per cent have opted for a safari or wildlife trip.

A third of those surveyed have already booked their main holiday for the year, whilst a further 24 per cent are planning to book in the next few weeks. Almost 40 per cent of holidaymakers intend to pay for their holiday abroad on their debit card, with one in three planning to use their credit card, surprisingly nearly a quarter of travellers will pay in cash and only 2 per cent will pay by cheque.

Worryingly, nearly 60 per cent of those holidaymakers who have already booked their vacation this year have not organised travel insurance, with almost half (42 per cent) claiming it was just something they had yet to organise. An additional five per cent said it was too costly and two per cent have not booked travel insurance in order to save money on their holiday.

Via EPR Network
More Financial press releases

Assets, Business, Financial, Financial Information, Financial Management, Financial Services, Financial Solutions, Home Equity, Investment, Money, Mortgage, Personal Finance

Principle First To Offer Remote Financial Advice

Principle First now offers clients the ability to interact with an adviser online, as they are brought across to his screen to discuss their financial plan using a range of graphical tools, charts and graphs illustrating their proposed or current investments.

Principle First’s remote financial advice service has already been rolled out as a pilot project, and has passed the test with flying colours.

Gareth Flanagan, founder and managing director of Principle First, said: “Our clients have already given our remote advice service a very strong ‘thumbs up’.

“I think people love the idea of tending to their future and current financial planning from the comfort of their own home.”

A potential client can log onto the Principle First website to make an investments enquiry.

The Principle First remote advice service offers visual and graphical illustrations to complement discussions on mortgages, life insurance, tax planning and savings as well.

Gareth Flanagan added: “The real beauty of remote financial advice is its ability to cut through the resistance of many consumers to visit a financial adviser.

“It’s amazing to think that only 20% of consumers seek and accept free, no-obligation help with their financial plan and pensions. Many of those consult only banks and building societies who, due to their limited product range, place their funds in the worst-performing sectors.”

Principle First has found that this resistance is based on three erroneous beliefs, which undermine a customer’s self-confidence in approaching an adviser.

Consumers often believe that financial planning is only for the wealthy, and that they simply do not have enough wealth to justify the attentions of a professional financial adviser.

Via EPR Network
More Financial press releases

Banks, Business, Currency, Financial, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Forex, Investment, Money, Profits, Trading

Trading Floor Launch News Widget

Trading Floor, the website featuring commentary by Saxo Bank’s strategy team, is launching a news widget – a ‘mini web site’ – allowing the latest stories from Trading Floor to be placed on any website or blog by pasting a few lines of computer code.

Trading Floor Launch News Widget

The widget is the first of several FX Tools under development that will be launched during 2010. The tools will support Trading Floor’s aim of providing the best knowledge to online traders in Forex trading, equities, FX options and CFD trading. The code can be copied from tradingfloor.com/FX-Tools and links are provided to help on how to add the code to the two of the most widely used blogging platforms.

Trading Floor’s strategy team writes posts throughout the trading day, starting with the opening of European markets to the close of Asian.

Trading Floor offers a range of news and market analysis including the daily trading stance which highlights the important signs to watch for in economic indicators and key levels for the major currency crosses, FX options and commodities. This includes a calendar for important earnings announcements and macroeconomic events. Trading Floor also publishes a wide range of reports covering macroeconomic indicators, and trading suggestions for FX and equities which are all free to download. Trading Floor also offers two to three interviews a week covering FX, equities and commodities. Commodities are covered with Ole Hansen on Wednesday and the FX and equity update is broadcast on Friday. Extra interviews are posted for significant macroeconomic indicators or reports.

Commentary on Trading Floor is written by Chief Economist David Karsbøl, Equity Strategist Christian Tegllund Blaabjerg and Forex expert John Hardy. Futures and Fixed Income expertise is provided by Ole S. Hansen and Alan Plaugmann. Also commenting are Market Strategist Mads Koefoed and Research Analyst Robin Bagger-Sjöbäck.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Reports Growth Of Parents Funding Their Adult Childre

The Children’s Mutual, a leading Child Trust Fund provider, has revealed that the cost of having adult children is hitting parents hard, with its new research showing they expect the cost of supporting an 18 to 30 year old to exceed £30,000. Their findings highlight the growth of a generation of Yuckies (Young Unwitting Costly Kids), with 93% of parents funding their adult children.

The Children's Mutual Reports Growth Of Parents Funding Their Adult Childre

Yet many of these parents haven’t planned for the costs and are putting their own financial futures on the line – 28% have either remortgaged or plan to remortgage to fund their Yuckie, with more than half of all parents borrowing to assist with costs.

The Children’s Mutual also found that it’s the Yuckies who are necessitating everyday purse tightening in families – two thirds of parents say they have had to or will reduce their day-to-day living costs to fund their adult child, from shopping more economically for food (28%), selling their cars (7%) and monitoring the use of heating and lighting at home (42%).

David White, Chief Executive of The Children’s Mutual, said: “These figures unveil the stark reality of the cost of being a parent. No longer does turning 18 mean financial independence – in fact 16% of parents questioned expected their child to remain financially dependent on them into their thirties and beyond.

“The families we questioned had just one message for parents whose children are still young – save, save, save. More than half agreed that if they’d have known when their child was born what they now know about the cost of having an adult child they would have saved more through the years, with just 13% having saved regularly in preparation. These figures give us a very clear warning – children aren’t financially independent at 18 and parents need to plan for this to save their whole family’s financial future.”

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives a £250 Child Trust Fund voucher (£500 for low income families) from the government when their parents register for Child Benefit. The government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Management, Financial Services, Financial Solutions, Money, Personal Finance

Barclaycard Freedom Retail Partnership Begins To Take Shape

Barclaycard has announced the national partners that will be joining the tens of thousands of small and medium retailers who have been invited to join Barclaycard Freedom, set to be the broadest retail rewards scheme in the UK. LA Fitness, YO! Sushi, Firebox.com, Goldsmiths and Nationwide Autocentres are initial examples of the retailers signing up to Barclaycard Freedom and will offer reward money to Barclaycard customers when the scheme launches in March.

Barclaycard Freedom Retail Partnership Begins To Take Shape

Barclaycard Freedom, the innovative new loyalty scheme, will be available automatically to over eight million Barclaycard cardholders who will be able to earn and redeem reward money at the point of sale, without having to do or remember anything. Reward money is recorded in pounds and pence, with no vouchers or coupons to save and no points to calculate.

Alison Vickers, Business Development Director of YO! Sushi said: “We have been trialling Barclaycard Freedom in a couple of our stores and have been impressed with how simple and intuitive it is. We are very excited to be involved in a programme which rewards our customers for simply using their Barclaycard to pay their bill. The simplicity and convenience of Barclaycard Freedom appeals to our customers, and we are looking forward to being part of the launch in March.”

Barclaycard Freedom is simple and easy to use with credit card holders seeing their new reward money balance on the card machine as part of each transaction. The next time the card is used at a participating retailer the current value of the customer’s reward money balance will appear on the card machine before they enter their PIN to pay. Cardholders can then choose to redeem some or all of their reward money towards that transaction or continue to save for a future purchase at another retailer within the scheme.

Sarah Newman, Managing Director of Barclaycard Freedom, commented: “Barclaycard Freedom incorporates all of the best elements of loyalty schemes with the rewards, quite simply, in pounds and pence. We are delighted that well known high street and online brands LA Fitness, YO! Sushi, Firebox.com, Goldsmiths and Nationwide Autocentres will be part of Barclaycard Freedom. These retailers each interact with their customers in different ways and represent a wide range of retail sectors, and we will be revealing many more participants in the weeks before launch.”

One of the strengths of Barclaycard Freedom is that it offers the concept of a rewards programme to many small and medium retailers for the first time. In addition to household names, over 30,000 retail outlets have been invited to be part of the scheme at launch.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Management, Financial Services, Financial Solutions, Money, Personal Finance

Barclaycard Platinum To Offer 0% On Balance Transfers Until 2011

Barclaycard Platinum has announced it is continuing to offer the lowest balance transfer fee on the market to new customers, with 0% on balance transfers until February 2011 and 3 months interest free purchases.

Barclaycard will charge new Platinum card customers a 2.9% handling charge to make the move and the balance transfer rate is available on transfers up to 90% of the customer’s credit limit. Purchases over the first three months will also be interest free, after this introductory period the typical interest will be just 15.9%.

Barclaycard Platinum will also enable customers to enjoy the freedom and flexibility of contactless technology, making payments of £10 and under possible with just a simple swipe. This is backed up by Barclaycard’s advanced security and fraud prevention measures.

In addition to the lowest balance transfer fee, the Barclaycard Goldfish credit card is also offering £30 of reward points if customers spend £100 a month for the first three months from account opening. Customers will also receive 0% interest on purchases for the first three months and the lowest interest rate of any rewards credit card in the UK.

Customers can apply for this offer online through the Barclaycard website.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Reports CTFs Have Revolutionised Child Savings

The Children’s Mutual, a leading Child Trust Fund provider, has revealed new research that, five years on from the first CTF vouchers being issued, the introduction of the CTF has revolutionised long-term savings for children.

The Children's Mutual Reports CTFs Have Revolutionised Child Savings

With every eligible child born since 1 September 2002 having a CTF account, 2010 will see more than five million children holding CTFs.

The Children’s Mutual has revealed that around half of their CTF customers set up a monthly direct debit on the day they open their child’s account. If you look at wider industry statistics, 31% of CTFs receive some form of additional saving. Before the Child Trust Fund was introduced, just one in five families were saving over the long-term for their children.

In addition, while nearly three quarters of parents choose to proactively open their child’s CTF account, a survey by the awards winning Child Trust Fund provider found that when asked over one in 10 parents with CTF vouchers were opting to let the government open the account for them – making an engagement rate of 85%. Compared to engagement rates of other savings products – 40% of the adult population has a private pension and 30% have an ISA – the CTF has driven the UK adult population to engage.

The Children’s Mutual also found that currently 1.4m parents, family and friends are contributing to their children’s accounts with in excess of £22m being added every month – money set to help towards the cost of higher education, first homes and beyond. As a result they estimate £2.74 billion will be available to young adults each year as they turn 18.

According to its calculations, 50% of the government CTF investment so far is going to 1.5 million families on the lowest incomes (under £15,000), with families in the lowest income bracket saving a higher proportion of their household income for their children than those in more affluent groupings.

David White, chief executive of The Children’s Mutual, said: “To those of us involved with the CTF, five years has gone by in the blink of an eye. And yet in that short amount of time, the results have been startling – the CTF has done what no other savings account has achieved before – getting the mass UK population engaged and saving. We’re delighted that parents have engaged with the first universal savings scheme, realising that the only realistic way to fund their adult children’s futures is to start saving now.”

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Reports Parents Persist In Saving

The Children’s Mutual, a leading Child Trust Fund provider, has reported that the latest figures from HM Revenue and Customs (HMRC) show that parents are persisting in saving for their children and engaging with the Child Trust Fund.

The Children's Mutual Reports Parents Persist In Saving

The new quarterly Child Trust Fund statistics released by the HMRC have revealed that nearly three quarters of all Child Trust Funds (CTFs) are proactively opened within a year of a child’s birth. However, according to a new analysis from The Children’s Mutual, this figure only tells part of the story of parents’ engagement with saving for their children.

The award winning Child Trust Fund provider found that while the vast majority of parents open an account for their child rather than waiting for the Government to do so, many of those who don’t are making a proactive decision not to while others are understandably busy with their new baby.

David White, Chief Executive of The Children’s Mutual, said: “Because the CTF is universal, every single eligible child receives an account, but what is impressive is that nearly 75% of parents choose to proactively open the account and around half of our customers start saving on a monthly basis immediately.”

According to its research among parents of young children, over one in 10 parents actively choose not to open an account and to let the Government do so on their behalf, citing their lack of familiarity with financial matters. In addition, research among parents who haven’t opened accounts found that 27% say it is because they haven’t had time to think about it – not surprising considering a new baby has a profound effect on family life.

Mr White said: “Attention is often paid to the quarter of parents who do not open accounts, accusing them of not engaging with, or being interested in the CTF, but our research shows that parents are far more engaged than many would believe. We found that over one in 10 parents, with CTF vouchers to place, said they would choose to let the Government open their child’s CTF and of those who haven’t opened accounts, the number one reason is because they are understandably focusing on the here-and-now. The beauty of the CTF is that it allows for this, with the Government opening accounts on behalf of parents if they don’t do it themselves, meaning that no child will miss out.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Management, Financial Services, Financial Solutions, Money, Personal Finance

Barclaycard Reveals New Advert

Barclaycard has launched its much anticipated sequel to its famous waterslide commercial. The new advert tells the story of an even more adventurous and innovative commute to work – on a rollercoaster. The fast and exhilarating 60 second rollercoaster ride brings to life Barclaycard’s mission of making its customers’ (both retailers and consumers) lives easier through contactless payment technology.

Barclaycard Reveals New Advert

‘Rollercoaster’ takes forward the successful features of ‘Waterslide’, using a fun and engaging story of one character’s journey to work to promote the ease of using a Barclaycard. The advert begins with the character standing at the lift doors of his apartment block when a rollercoaster pulls up and takes him on a wonderfully smooth and liberating journey high above the clutter and congestion of the city below, only slowing slightly when he makes a contactless payment at the bakery en route to work.

Filmed in New York and Hollywood, the rollercoaster advert has been the most technical and complicated shoot to date in Barclaycard’s celebrated history of advertising. Utilising a real rollercoaster cart and 40ft of working track, the ad also features the first use of the ‘Spidercam’ in an advert since the camera was developed to film parts of the ‘Spiderman’ movies and complex CGI to help create a realistic vision of a rollercoaster weaving in and out of the city’s skyscrapers.

The four week campaign launched online on YouTube and Barclaycard’s Facebook page on the 22nd January with a 60 second advert and aired on television for the first time two days later. A 40 second version was introduced after the first week. The TV activity is part of a wider campaign that will include online adverts and a social media campaign set to reach more than 10 million people using the Barclaycard Facebook page as a hub for all new information about the commercial.

Following on from the success of the Waterslide iPhone game, Barclaycard will launch a Rollercoaster download game later in the year.

Contactless payment technology was pioneered by Barclaycard in the UK in 2007 with the launch of Barclaycard OnePulse. Now, all Platinum, Gold and Classic Barclaycards are issued with contactless technology and over five million are in circulation in the UK. Over 20,000 retailers now accept contactless payments throughout the UK.

Via EPR Network
More Financial press releases

Banks, Checking & Savings, Credit Cards, Financial, Financial Management, Financial Services, Financial Solutions, Money, Personal Finance

Barclaycard Brings Freedom To Over 30,000 Retail Outlets Across The UK

Barclaycard has announced that it will be launching Barclaycard Freedom in March – the broadest retail rewards scheme the UK has ever known. The groundbreaking new loyalty scheme will be available to over eight million cardholders who will be able to earn rewards in an unprecedented number of shops, restaurants and online outlets across the UK, without having to do or pay anything to join.

Barclaycard Brings Freedom To Over 30,000 Retail Outlets Across The UK

The scheme allows cardholders to interact at the point of sale, bringing a new level of simplicity to the concept of customer rewards. There is no need to collect and save vouchers and coupons, no need to replace their card or carry an additional one, and with no points to calculate – the rewards will be recorded in pounds and pence. It will utilise a state of the art technology system and the chip within the credit cards will be totally electronic, instant and intuitive to cardholders. Retailers who participate in Barclaycard Freedom will be able to offer rewards and relevant offers at their point of sale to over eight million cardholders.

Barclaycard cardholders will automatically earn rewards, called ‘Reward Money’, when they use their Barclaycard at a participating retailer – 1 per cent on most transactions alongside regular special promotions and giveaways. When cardholders use their card in a participating retailer they will see the value of their Reward Money balance appear on the card machine before they enter their PIN to pay. They can then choose to redeem some or all of their Reward Money rewards towards that transaction or to continue to save up for a future purchase at another retailer within the scheme.

Barclaycard has invited more than 30,000 retailers of all sizes to be partners in the scheme, meaning that when it launches in March it will be a rewards coalition of unprecedented size and scope. On average, there will be 200 retailers within five miles of where a cardholder lives. Barclaycard Freedom will be supported by a significant marketing campaign with TV, online and print advertising driving awareness about the programme for customers.

Participating retailers will benefit from a loyalty scheme that includes over eight million cardholders at launch meaning there will be on average 75,000 Barclaycard cardholders within five miles of a retailer’s store.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Launches New Pocket Money Site To Help Families

According to new research from The Children’s Mutual, the old saying that good manners cost nothing is not strictly true, as 44% of children are now financially rewarded for good behaviour.

Award winning Child Trust Fund Provider, The Children’s Mutual, has revealed that as well as good behaviour, parents are also offering an ‘honest wage’ for a hard day’s work. 37% of children ‘earn’ their pocket money by helping out with chores around the home and 19% fill their piggy banks by helping out with the family pet.

As the Government announces plans to make financial education compulsory for children as young as five from 2012, leading Child Trust Fund provider The Children’s Mutual has launched a new Pocket Money Petz microsite which has been created to help parents teach their children about pocket money and saving.

Children can choose a ‘virtual’ pet, from a dog to a dinosaur, to help them learn to boost, manage and save their pocket money earnings, and while children have fun deciding which character to accompany them through PocketMoneyPetz, their parents can put a value against each chore to help them learn the value of money.

Tony Anderson, Marketing Director at The Children’s Mutual, said: “As children are receiving more and more pocket money in return for undertaking household chores, helping with the family pet and their good behaviour, we created Pocket Money Petz to help spark their imaginations about earning and saving money.”

According to The Children’s Mutual research, the going rate for pocket money has increased by a whopping 83% in a single generation from when their parents received pocket money until today. Parents are already giving an average of £2.85 a week to their child, with many (27%) parents expecting to increase this amount by £1 each year.

However, despite the rise in pocket money, The Children’s Mutual research showed that parents are often unsure of how much to ‘pay’ their children and can feel pressurised to compete with how much other parents give. Nearly one in five (18%) said there was pressure to conform to a ‘market rate’ and 16% said they feel they pay too much but ‘have to go with what everyone gets’. In response to these concerns, The Children’s Mutual has also created a Parents’ Pocket Money Guide which offers advice on teaching children about money, how to give pocket money, when to start and how much to give and how often.

Via EPR Network
More Financial press releases

Banks, Checking & Savings, Credit Cards, Financial, Financial Management, Financial Services, Financial Solutions, Money, Personal Finance

Barclaycard Reveals Christmas Spending Increased In 2009

Barclaycard Payment Acceptance reveals spending on credit and debit cards was up this Christmas compared with last year.

Barclaycard Payment Acceptance, one of the largest processors of debit and credit card transactions in the UK has announced that shoppers spent more on debit and credit cards from 19 December to 31 December 2009* compared to the same period last year. This new data from Barclaycard provides a snapshot of how customers of all UK banks and credit cards were using their cards over this period.

The data showed that the busiest day prior to Christmas Day for turnover came on the 23 December with £497m being spent. After Christmas Day, sales peaked on the 29 December with £376m being spent.

Other highlights from the data include:

– Total turnover over the period was £4,085m compared to £3,989m in the same period in 2008 – a 2.4% increase
– Post Christmas spending up in 2009 against 2008 – £1,683m versus £1,642m
– Christmas Day – £24m over 0.7m individual transactions processed
– Christmas Day transactions peaked at 12.08pm with 32 transactions a second
– Boxing Day saw an average credit card transaction of £72.46. This was largely driven by the DIY and electronic stores sectors
– Online retailers saw £9.5m of turnover on Christmas Day compared to £8.1m for Christmas Day 2008 – an increase of 17%

Marc Pettican, Head of Sales at Barclaycard Global Payment Acceptance said “Our retailers have seen an increase in turnover compared to the same period last year with over £4 billion being spent. We’ve also seen a stronger post-Christmas performance as shoppers take advantage of the sales discounts and consider the effects of the imminent VAT increase.”

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

One In Five Parents Has A Will

According to new research by leading Child Trust Fund (CTF) provider The Children’s Mutual, just 18% of parents have written a will, yet many are unaware that should the worst happen and the parents die without having appointed a guardian, the child may not be looked after by their chosen carer and it will be up to the courts to decide where they live. The Children’s Mutual is therefore urging parents to make and keep just one New Year’s Resolution this year – to write a will.

According to research by The Children’s Mutual, the majority of parents who hadn’t written a will said it was because the task was ‘sitting on the to do list’ but wasn’t a priority (35%), 32% said they hadn’t found the time and 27% said they couldn’t afford to write a will. To help address these concerns, The Children’s Mutual has put together a simple Will Writing Checklist which is available on request to assist parents ahead of writing a will and is offering a discounted rate for a standard will of £50 plus VAT through its Will Writing Service in partnership with Flint Bishop Solicitors.

The Children’s Mutual is calling on parents to act to protect their children and is urging the one in three (27%) parents it surveyed who said they planned to write a will, to do just that this year.

Tony Anderson, Marketing Director at The Children’s Mutual, said: “The majority of parents have writing a will on their to do list but we’re urging them to put their New Year’s Resolutions to good use in 2010 and make it happen. While it’s something no parent wants to think about, getting a will written and their paperwork in order so they know their child will be cared and provided for will be a huge weight off their mind.”

Of the parents questioned who have a will, their top reasons for writing one were to ensure their partner inherited their estate and because they wanted to decide who would look after their children should the worst happen.

Via EPR Network
More Financial press releases

Financial, Financial Management, Financial Services, Insurance, Insurance Services, Money, Personal Finance

M&S Home Insurance Helps Householders Reduce Their Environmental Impact

M&S is the first home insurance provider in the UK to offer policyholder claimants two unique features to help reduce their impact on the environment.

M&S Home Insurance is now offering the features to new customers at no added cost and will be making them available to existing customers on policy renewal from 1st February.

While lost or damaged possessions are usually replaced with equivalent new items M&S Home Insurance claimants for fridge freezers, refrigerators, washing machines, tumble dryers or dishwashers, will be offered an environmentally-friendly A rated energy-efficient replacement, saving up to 140kg of CO2 each year*.

Additionally, insured properties requiring a rebuild will be reconstructed in line with the Code for Sustainable Homes (CSH) 4, using sustainable materials where possible, emitting at least 44% less CO2 than building regulations stipulate**.

David Wells, M&S Head of Insurance, said: “These new policy features, which we believe are firsts in the UK insurance market***, mean that the M&S Home Insurance policy is one of the most environmentally friendly products of its kind.”

Nick Kidd, of AXA Insurance, said: “It is becoming increasingly common for companies to launch ‘green’ products on the basis of carbon offsetting facilities which our research suggests is not valued by customers.

“The M&S product goes significantly further by providing tangible environmental benefits which will help customers to save energy, save money and ultimately, to help save the planet. According to the Energy Saving Trust, the average home will emit around 5 tonnes of CO2 a year, so these new product features can have a real impact.

“At AXA we’re committed to reducing our negative environmental impact and are really pleased to work with M&S Money on this innovative product.”

Via EPR Network
More Financial press releases

Financial, Financial Management, Financial Services, Insurance, Insurance Services, Money, Personal Finance

Put Home Insurance Top Of The Christmas Wish List

As a survey reveals that a third of households leave gifts under the Christmas tree well before the big day, home insurance provider M&S Money is advising householders to make sure security remains a priority this festive period.

Crime statistics reveal that domestic burglaries increase during the coldest and darkest months of the year – November, December and January (Home Office Report ‘Seasonality in recorded crime’).

The increased value of property stored in homes in the weeks before Christmas means that householders should be particularly vigilant to the threat of a break-in.

A survey by home insurance provider M&S Money has revealed that security is the last thing on the minds of 39% of householders who say they leave presents under the Christmas tree well before December 25th. Only 7% of householders are security-minded and wait until Christmas morning to put presents under the tree.

Furthermore, only 20% of people say they are ‘very confident’ about what is covered by their home contents insurance, meaning many people may be unaware they are exceeding the limits of their normal home contents insurance cover.

While 75% of UK households have home contents insurance, only 7.53% of policies across the market offer unlimited sum cover for the contents of homes. M&S Home Insurance gives unlimited cover so policyholders can relax knowing that they will never be underinsured, no matter what the value of the presents stored at home.

David Wells, M&S Head of Insurance, said: “At Christmas it’s easy to get caught up in the excitement of the season and forget about home security. However, we all know there are criminals who see this time of the year as providing them with rich pickings.

“Householders can take practical measures to deter burglars and protect their homes by keeping expensive Christmas presents out of view, closing curtains during the long dark December evenings and fitting timers to lights and radios which will create doubt in the burglar’s mind.”

David added: “Christmas should be a fun time of the year. By making sure you have adequate home insurance you can enjoy festivities in the knowledge that the contents of your home are protected should the worst happen.”

Via EPR Network
More Financial press releases

Currency, Financial, Financial Management, Financial Services, Insurance, Insurance Services, Money, Personal Finance

M&S Money Encourage World Cup Travellers To Keep Track Of Currency Rates

M&S Money has advised football fans heading to South Africa for the World Cup in 2010 to keep track of currency rates rather than wait until next summer to purchase their spending money. Supporters will be paying thousands of pounds on flights, hotels and match tickets, and will want to get the most for their money when buying South African currency – the rand.

Figures from M&S Travel Money show that the rand rate has fluctuated against sterling by as much as 3.3 rand per pound during the past year. In October travellers could get 11.39 rand per pounds, compared to 14.69 rand last December.

With no way of predicting what the rate will be next summer, British football fans should keep track of the rand rate over the coming months.

James Yerkess, Head of M&S Travel Money, said: “England football fans will be looking forward to following the team in South Africa and will be spending a lot of money to make sure it is the trip of a lifetime.

“Fans would be wise to start thinking now about how and when they are going to purchase their foreign currency. Those who buy all their currency in one go next summer could find that the rand rate is particularly strong against sterling.”

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Reports Kids Unaffected By Recession This Christmas

According to research by a leading Child Trust Fund (CTF) provider, The Children’s Mutual, children in the UK are set for a bumper Christmas this year, receiving £5 billion of presents. With generous friends and family set to spend 20% more than last year on youngsters, it seems the recession is not impacting kids’ stockings just yet.

The average UK child will receive £380 worth of presents this year, compared to £316 in 2008. In total, UK kids will have over £4 billion worth of toys and other presents underneath their trees, along with £960 million in cash, with each child receiving an average of £73. More than a quarter of lucky UK children will get £100 or more.

The Children’s Mutual is urging parents to take advantage of the generosity of friends and family this Christmas by asking them to invest in a present that could last a lifetime.

David White, Chief Executive of The Children’s Mutual, said: “It’s great news that the recession is not affecting kids’ stockings this Christmas. However we are urging parents to think about their children’s futures and ask friends and family to invest a portion of this money for the long-term.”

The Children’s Mutual also found that a lot of money is spent on presents that often don’t last for more than a couple of months.

David White continued: “Around £200 is spent on presents that won’t make it past Easter, but if this money was invested in a Child Trust Fund each year, it could be worth £6,100* by the time it matures when the child turns 18. This way friends and family can give a gift that could last well beyond the child’s 18th birthday and providing them with a nest egg for the future.”

According to figures from The Children’s Mutual, top ups into Child Trust Funds get a timely boost at Christmas with an average increase in ad hoc payments of just under 25% during the festive period.

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children (born on or after 1 September 2002). Each newborn child receives a £250 Child Trust Fund voucher (£500 for low income families) from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

Via EPR Network
More Financial press releases