UR TV CAST

Whether we like it or not, Christmas is only five weeks away. Most of us probably haven’t even started thinking about it, let alone decided what presents we are going to buy.
Even if you aren’t ready to go shopping, now is the time to ask yourself how you are going to pay for those presents. According to the Credit Card Research Company (CCRC), British shoppers are expected to spend more than £17.5bn this December. With a third of us likely to spend between £250 and £500 each on presents, plus extra for food and drink, financial planning is essential to avoid running up debts.If you haven’t got the cash to cover the costs, look around for the best deals so that you can significantly reduce the interest you pay on credit cards, overdrafts and loans.One of the simplest ways to save money is to avoid using store cards unless you are able to clear the balance each month. People’s Bank reveals that we are wasting £404m a year on interest paid on store card debt. Considering that you can get a credit card with 0 per cent interest, there is little point in paying anything up to the 30 per cent interest many store cards charge.Many of us are lured into taking out a store card by a 10 per cent discount on the first purchase. If you have the discipline, and the funds, to pay the balance off immediately, take advantage of this offer.

Otherwise avoid it, as the interest you pay is likely to outweigh the initial saving.A better alternative is to make use of one of the many low-rate credit cards on the market. Egg is offering a six- month, interest-free introductory period on its card, along with 1 per cent cashback on everything you spend.Cashback is being offered by an increasing number of card providers and is particularly attractive to those who spend heavily on their cards. The Halifax has just launched a new credit card offering 1 per cent cashback. Gold and Classic card holders have an introductory rate of 4.9 per cent, and Platinum card holders pay an annual percentage rate (APR) of 3.9 per cent for the first six months.

Other credit cards offering cashback are Alliance & Leicester (17.4 per cent APR), the American Express Blue Card (19.5 per cent APR) and Morgan Stanley Dean Witter (17.9 per cent APR). The high rates of interest on these last three cards means that they are not the best option for people who don’t clear their balance every month.If you need to borrow from one month to the next, you are better off with a card offering a low rate of interest. The Egg and Halifax cards are both good choices, as is Capital One which, like Egg, is interest-free for new purchases for the first six months. RBS Advanta has an introductory rate of 2.9 per cent until next June. Also worth considering are Nationwide (3.9 per cent for the first six months) and Tesco and People’s Bank, which both have an introductory rate of 4.9 per cent for six months.Even though you may not receive a new credit card in time to do your Christmas shopping, it is worth switching if you have outstanding balances on store cards or high-interest credit cards. By consolidating your debts on one card with a low interest rate for balance transfers, you can reduce the amount you end up paying.If you don’t want to use a credit card, another way to manage the cost of Christmas is to use the overdraft facility on your current account. Most banks offer only a small buffer zone where you can go overdrawn without incurring interest charges.

For example, HSBC has a £50 limit as long as it’s pre-arranged, while Lloyds TSB customers can go overdrawn by only £10 before being charged interest.However, other banks offer more substantial interest-free overdraft allowances. Cahoot customers can go up to £250 into the red and pay no interest, while Citibank and Smile offer a £500 interest-free facility.A personal loan is another option to consider. This arrangement is best suited to those who prefer the discipline of structured loan repayments. There are some good deals on the market – one way of finding the best deal is to look on the internet at sites such as moneysupermarket, which compares a range of personal loans.The most competitive loans to repay £15,000 over six months are currently from Airdrie Savings Bank, where the monthly repayments would be £62.52, and from Egg, where you would pay £67.98 a month.. Weath is the last thing any of us wants to spend much time thinking about. But we should all consider the financial implications of dying, even if we’re still in our thirties, and particularly if we have a partner and/or children.

Weath is the last thing any of us wants to spend much time thinking about. But we should all consider the financial implications of dying, even if we’re still in our thirties, and particularly if we have a partner and/or children.
It is a sad reality that some people die young, and the ramifications of not planning for this can make a death even more devastating for the surviving family members.Begin by sorting out your will, as this is the only way you can guarantee that your possessions and assets go to the people you want. More import- antly, if you have children, a will enables you to plan for their future. If you die intestate – that is, without making a will – there are strict rules stipulating how your estate is divided up. If you aren’t married to your partner, he or she will not inherit your estate, even if you have children together.Despite this, a staggering two out of three people don’t make a will. “A lot of people don’t make wills because they don’t know who they want to look after their children should something happen to them,” says Vivienne Starkey, independent financial adviser (IFA) at Equal Partners.