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The pound is as strong as it's been in years right now - and it's all thanks to the general election . But Martin Lewis has warned that this means if you don't get your holiday money purchase in now, and things go wrong on Thursday, you might well miss out on the chance. "Currently £1 buys €1.18," Martin told readers of the weekly MoneySavingExpert.com newsletter . "Being straight, it's because the markets seem to have factored in a Tory majority, and all that implies, including a likely Brexit deal." But if we've learnt anything in the past few years it's that predicting elections is a mug's game. And that means rates could be about to plummet. "If they're wrong, and uncertainty increases, the pound will likely (no promises) fall," Martin explained. "Either way, those travelling soon and worried about fluctuations (who don't have a crystal ball), may want to buy soon-needed currency now, or hedge your bets and buy half now and half when you travel." The reason for the … [Read more...] about Martin Lewis explains why you might need to buy all your holiday money today

National Savings & Investments was set up in 1861 as the Post Office Savings bank. The bank was backed by the government and money paid in by the public provided a fund for the then chancellor, Gladstone, to borrow to put towards public spending. During the first world war the scheme was expended to pull in more funds to finance the war effort, and savings certificates were introduced. Later, in November 1956, premium bonds were introduced. In 1969, the Post Office Savings bank became a separate government department, accountable to Treasury ministers, and was renamed National Savings. Investments was added to the title in 2002. Although its name has changed the organisation is still backed by the government, making it the most secure place for people to keep their savings. National Savings & Investments has two roles: to raise cost-effective financing for the government and to reduce the cost of government borrowing to the taxpayer. The products NS&I offers a range … [Read more...] about Factsheet: National Savings & Investments

Cycling to work could save commuters nearly £1,400 a year, according to research. A study of 2,000 employed adults found the average professional spends just over £28 per week getting to and from their workplace by car or public transport. That tots up to £1,360 over the course of a year. The research found one in five people now cycle to work, saving riders precious pounds, with 46 per cent saying it speeds up their journey too. And more than a fifth get a sense of smug superiority when they sail past cars sitting nose-to-tail in traffic. The research was commissioned by Argos to launch the easy-to-use Oyama Commuter Light 16" Folding Bike, which aims to make commuting even simpler. Of those who don't cycle to their job, a quarter would consider it but are yet to take the plunge. A fifth haven't started yet because there isn't currently a shower at their office to freshen up before the day ahead. It also emerged 27 per cent would consider commuting by bike if it saved … [Read more...] about Cycling to work could save British commuters up to £1,400 a year

One of the biggest impediments to buying a home is finding the deposit. And the bigger the deposit, the smaller the mortgage you need and the lower the interest rates that you're charged. Increasingly, parents and grandparents are helping out - but most of us don't have tens of thousands of pounds lying around, and many of those that do help are finding their lifestyles seriously impeded as a result of helping. So what if there was another way? Well, if they are homeowners, then there is. Getting money out of your home without selling it or having to make monthly payments The first thing to say is that this isn't a “free” way to access money locked up in a home – but what it will do is mean you get it sooner. The product you are looking for is called “equity release”. This lets over-55s borrow money from their home, with the interest and repayments deferred until they die or move into permanent care and the home is sold. That means no monthly bills, and … [Read more...] about How your parents can find thousands to help you buy a house without raiding their savings

Mums and dads have flocked to Facebook to share their enthusiasm for the "four gift" Christmas present rule. The resurgence started when one mum asked what she should buy for her four children - aged one, two, six and nine. Her post was flooded with other parents telling her to try the four-gift rule. "Yes we have done that for the past 3 years, I love it. We also add one gift from Santa," one wrote. Another added: "We're going to do that this year. Trying to have a more minimalist Christmas with quality over quantity." Mum Faye told Kidspot : "I got fed up with constant landfill and found we were buying too many unnecessary things for Christmas. "I've been doing it for about three years now and the kids are way more appreciative than getting heaps of presents they don't use." The 'four-present' rule explained Put simply, the rule places gifts in four categories, meaning you can cover your bases and make sure your little ones aren't disappointed. The categories are: Something they … [Read more...] about Mums and dads loving the ‘four-gift’ Christmas rule that saves time and money