Destruere

A report says that us brits are missing out on saving money on our energy bills.

The report shows that fear is behind the lack of people saving money. People are ’scared’ to change their energy suppliers as they are unsure what is involved.

Graham Self, directory of UKPower.co.uk stated:

“Some people don’t know what is involved, they wonder if they are going to have someone come round to their house to change pipes and wires.”

“There is a bit of naivety about how it actually works. It’s not like car insurance, for example, where people automatically shop around.”

Personally, I’m happy with the amount I pay for my gas, electricity. I have used comparison sites in the past and it seems to be a great deal.

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Sir Richard Branson has stepped in to save the financial troubles of Nothern Rock.

Backed by a large group of financial heavyweights  Branson’s virgin group submitted the proposal to Northern Rock’s bankers at Merrill Lynch yesterday.

Northern Rock shares dramatically increased on the news, ending the day up 5.9% to 273p, and became the FTSE 100’s biggest riser.

Other companies will surely follow suit and submit their proposals for the company’s rise from the ashes.

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Upto one in five British consumers are still paying off  christmas credit card debts, according to some recent research.

Figures fo savebuckets.com showed that 40% of people had to go into the red for last years festivities.

Very large sums of money were borrowed last christmas more than any other of the years and throughtout January most people we’re still aiming to become debt free.Marc Ames, marketing manager of Savebuckets.com, said: “Many Britons have struggled to pay off their credit card spending from last Christmas.

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Young brits must learn about budgeting a spokesperson for a national debt help line says.

Mr Boden-Wilkes commented: “There does need to be more education into how financial products work, so that young people understand if they’re taking out a personal loan of £5,000, what is the APR? And what does that actually mean?”

“It is important to learn how to budget and how to use credit responsibly. Financial literacy is a really big thing,” she continued.

According to figures complied by Credit Action, the overall amount of personal debt in the UK increases by close to £1 million every four minutes.

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Property is now on average, 5 times your income adding to the potential value of home equity loans.

London’s average is 5.08 times the average wage according to Hometrack.

Steve Wilcox of the University of York wrote the report and stated that homeowner’s had seen dramatic rises over the years.

The report showed house prices stopped risingin August, so now may be optimum times for a home equity loan.

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Next (the clothes store)’s, profits have seen pre-tax profits in the six months to July rise 11% to £198.2m, better than the £182m predicted by analysts. Revenues were also up 1.9pc to £1.5bn.

I’m quite fond of Next, although some of it  is very 30-year old man trying to look cool.

Next said that the rise in profits was due to cost cutting and improvement in its margins, and the lion’s share came from its directory business. Profits at the directory division - which takes in its catalogue and online businesses - jumped 24% to £73.8m. Its stores produced a less eye-catching rise of 1.2pc to £112.5m.

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Some recent research has shown young brits are most likely to be scared of interest rate rises than any other financial aspect. ICA carried out some studies on behalf of IF showed around 40% of 18-24 year old britons are worried about rises in interest rates and another 10% are very worried about debt management pressures.

Interest rates are currently at 5.75% and are set to rise as the BoE attempts to slow inflation and cut borrowing.

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Woolwich have announced a 10 year mortgage.

I think this is a scary idea, I cant imagine trying to pay off a full mortgage in 10 years.

Unless you were earning a large wage and living in a box, how can any one manage?

I looked into a mortage recently and cannot look into doing less than 25 years hard time.

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I was quite interested to read how Google has bought some of a Chinese social media site. However, the figures weren’t about revealed how much.

The president of Google China, Kai-Fu Lee said that Google intend to buy one or two China-focused internet businesses over the next 5 to 12 months.

Google’s target, Tianya.cn, offers a variety of services including user blogs, classified advertising, photo hosting, news, sports news and university information. The site is ranked as the 63rd most popular website in China with over 20m users.

Google recently won approval from the China government  to provide internet content to the country.

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Property prices could fall by up to six% over the next two years, lowering the value of secured home loans.

The Northern Rock and US sub prime crisis are said to be some of the major driving factors behind this.

Homeowners are being advised to take out home loans now before any house prices fall.

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