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February 23, 2022   |   Articles

Be Clever With Your Cash is eight!

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The highlights for me and the blog over the last 12 months.

As has now become tradition, I use Be Clever With Your Cash’s birthday as a chance to share with you the good and the bad from the last year.

I rarely write about “blogging” itself or the challenges of running my own business, so also it’s a good opportunity for me to reflect on how things have gone and give you a bit of an insight into what happens behind the scenes.

Plus, I’d really appreciate it if you can fill in my annual survey so I can get your feedback on everything I do.  You’ll also be in with the chance of winning a £25 John Lewis voucher or an hour long video chat with me.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

A design for life (well, the next few years)

The biggest change, and the biggest success, was a complete redesign of the site last May. The main purpose was to get everything faster and easier to navigate, but I also wanted to push “me” much more as part of the brand.

I think it’s largely responsible for a massive growth in traffic to the site. The last 12 months have been the biggest yet for my site, with just under three million views in the year (up from 1.8 the year before). It also surpassing 10 million in total and welcoming the seven millionth visitor since launch.

But it wasn’t easy! I can confidently say the whole design and build process and then updating all the content was the hardest I’ve ever worked in my life. At one point I worked really long hours for 21 days straight, getting everything ready for the relaunch.

This was the first time I’ve invested financially in the business. I’ve done everything myself before, but it was finally time to pay someone else to do some of the work, with a designer and web developer helping me shape my ideas into what you see now.

Part of being clever with my cash has always been to reduce spending, so I actually found this quite hard. But it was a good lesson for me that sometimes it’s better to shell out than make compromises.

Becoming a “YouTuber”

I’m not at all comfortable with the term “Influencer” (in my mind it feels too connected to paid endorsements, something I’ll never do.) As a result, I’ve felt I’ve lost some ground on social media platforms in the last few years.

However, though most of my time still goes on content for this site, I’m really starting to see the benefits of my YouTube channel.. Perhaps it’s because of the real-time interaction and feedback I get from viewers. The semi-weekly live Q&As have been amazing and a great way to engage with you all. And in the last 12 months, there’s been fantastic growth.

This time last year I had 7,000 subscribers and 400,000 views. As of today the channel is just shy of 26,000 subs and reached 2 million total views at the start of the week. The last month in particular has had as many views as the blog!

So I guess I’m now a “YouTuber”, as well as blogger and journalist. This term really impressed my niece at the weekend, so it’s worth it just for that.

If you haven’t already, please do subscribe, and hit the thumbs up button or comment on any videos you watch – it all helps.

Starting a weekly column

I don’t have much time available for freelance work, but when the chance came along in September to start a new personal finance column for the Metro newspaper I jumped at it. It can be quite hard to think of a new topic every week seven days before it’ll be published and still be topical, but I’m enjoying this.

I got over my imposter syndrome a few years ago (mostly), but having my thoughts and advice printed in a national newspaper every week has cemented in my mind that I am a proper journalist!

Refocusing what success means

Long time readers might remember I presented a Channel 5 show called Shop Smart Save Money in 2018 and 2019. As someone who spent a decade working for the BBC, this type of work felt like the pinnacle of where I could go. I was hungry for more.

Though I was due to film some more programmes in 2020 before the pandemic hit, they didn’t go ahead, and I’ve not had any other projects get greenlit either. I didn’t even get invited to a daily Channel 4 show which is filmed 30 minutes away!

I struggled with this initially. If TV was the top of the game as far as my career was concerned, had I reached my peak a few years ago? That was my thought the more and more I saw others picked for short TV spots and longer series.

But the time I would have spent on those projects was suddenly free, allowing me to put everything, five days a week (sometimes more) into my own channels.

The resulting success of the blog, YouTube channel and my Cash Chats podcast in the last year has helped me realise I can keep growing my own content and reaching more and more people, and do it on my terms!

Elsewhere, while I know awards don’t make a huge amount of real difference, when you’re working for yourself it’s nice to get acknowledgment from your peers for your efforts! I picked up Best Personal Finance Blog and Best Money Podcast at the UK Money Blogger awards earlier this month, and my podcast was recognised at Headlinemoney as a finalist in the Broadcast Journalist of the Year category (the only independent finalist, up against the BBC and FT). I’ll take that!

My annual survey: Win a video session with me or a £25 voucher

It’s so important to me that any content I produce for you is what you actually want to read, hear or watch. So please do take a few minutes to answer this short survey. 

If you also enter your email address at the end of the form you’ll also be in with a shot of winning a £25 John Lewis voucher or an hour-long video chat with me. This prize draw ends 30 March 2022 and one response will be randomly selected and asked whether they want the voucher or money chat. Open to UK followers only.

Our podcast

Listen to Cash Chats, our award-winning podcast, presented by Editor-in-chief Andy Webb and Deputy Editor Amelia Murray.

Episodes every Tuesday.

Listen now
Andy and Amelia with the text "Cash Chats Personal finance podcast"

February 8, 2022   |   Articles

How to keep your old phone number when you switch mobile networks

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Save money without changing your digits.

I’ve been a fan of switching mobile networks for a long time now. Though most major networks are charging a fortune for your calls, texts and data, you can pay a fraction every month for the same service at one of the many challenger brands.

I know a lot of people get put off doing this because of two things. One, they worry about reception. And two, they don’t want to change their number. Neither of these is going to be a problem.

Once you’ve found a new network (that might even offer the exact same signal as your existing one), then it’s time to request your Port Authorisation Code, aka PAC. Here’s how to get it and what to do.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

How to switch and keep your number

A few years ago new rules were introduced to make getting a PAC really easy, and bypass the dreaded customer service agent who would take forever to issue you the code.

Now to get your PAC you now just need to text ‘PAC’ to your old network via the number 65075. It’s the same whichever network you are with. You’ll then get sent your code within a minute. Though I’m not switching I gave this a try, and I was also required to include my date of birth.

You then need to give this number to your new mobile provider. The code is valid for 30-days. Your new network will then sort out everything and move your number over within one working day.

In practice, this means you will start the day on your old network, and at some point that’ll go dead. That’s when you need to swap your SIM card over, which will now be working on your existing number. 

So don’t submit your PAC on a Friday as you’ll have to wait until Monday or even Tuesday for the change to happen. I also make sure I’m not out and about or expecting any important calls.

Why you might not want to use this method

So this method certainly makes it much easier. Not only is it quicker, but you avoid having to listen to increasingly desperate sales teams trying to stop you from switching away. I know people who will be incredibly grateful for this as they hate those conversations.

But for me, those calls are the reason I was able to cut my monthly bill without switching away. I now pay just £8 a month for 12GB of data with Three, rather than the standard price of £12.

Each time I’ve called up Three to get a PAC having found a cheaper deal elsewhere, they’ve come back with a huge saving. And four out of five times I’ve taken the deal. So it really can pay to go through the pain of a 20-minute chat (they really can be painful) for some substantial savings. In fact, maybe try live text chat instead so you can do something else at the same time!

My main tip if you do choose to haggle is not to take the first offer. They need to beat or at least match what you can get elsewhere. So do some research before calling, and do take into account extras you might get.

Of course, even with a text message PAC request there’s nothing to stop your old network calling up and trying to get you to change your mind, so if you really don’t want to make that initial call you could always give that a go.

Things to bear in mind when requesting a PAC

You can get the PAC before you open a new contract

Just because you ask for a PAC, whether by text or in a phone call, you don’t have to use it. And it’s valid for 30 days. So it’s probably worth calling up and asking for your PAC to see what deal you are offered before opening up a new contract elsewhere.

You’ll get charged to switch if you’re in contract

If you are in the middle of a contract when you try to move networks it’s likely you’ll get charged for however much time you’ve got left, so it’s probably worth waiting until your contract is due to end. You can text ‘INFO’ to 85075 to find out what this cost will be.

You don’t have to have a new number

If you want to switch networks and start again – but still close down the old account at the same time – then you can text STAC to 75075.

Why switching network can save you money

You really can save money either by switching to a cheaper network or haggling on your current price. I’ve written about this a few times, so I’ll let you read more about “virtual” providers out there offering cheaper tariffs with the same signals as the main networks.

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January 11, 2022   |   Articles

Beat the Virgin Media price hikes

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Use the increases to cut what you pay.

I feel like there’s a broadband, mobile and TV price increase every few months… and the latest is from Virgin Media. Letters and emails are being sent to customers detailing increases to bills in March.

Usually those in a utility contract are tied in and have no choice but to pay the extra cash. The good news is that’s not the case if you’re with Virgin Media. Depending on what services you use, you might actually be able to ditch your contract and save money.

Here’s what you need to know.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

How much Virgin Media prices are going up

From 1 March this year, most Virgin Media customers will see an increase to their monthly bills. The average increase will be £4.70 a month, or £56.40 a year.

It’ll apply to broadband, phone and TV customers. There’s a separate increase on 1 April for Virgin Mobile customers.

Exactly how much more you’ll get charged will depend on the package you have right now, so you’ll have to look out for the letter to learn the exact amount.

Obviously if you have just broadband it’ll be less than those with TV and / or phone as well, and the more expensive your package in terms of speed and channels will likely also have an impact.

Why this isn’t necessarily bad news

Since the increases are a change to your contract, you’ll have 30 days from getting the letter or email to give notice and not get charged any penalties for leaving early.

So Virgin customers in the middle of a contract can use this hike to move to a different provider and potentially cut what they pay for their broadband, TV and landline services

Or, if you don’t want to leave Virgin, you can still use the increase to push for a better deal. And I’ve used that to my advantage in the past.

How to use the price increase to get a better deal

Wait for your letter or email

This is really important. You’ll need this to start the process of moving away or negotiating. It might be sent as an email rather than a letter so keep an eye on your spam folder. Once you have it you’ll see the date you have to take action by.

Sign up elsewhere

Many of the best prices for broadband and TV are for new customers. It’s not just special offers and reductions for signing up, you can also get a bonus for going via cashback sites.

Ideally you’ll stack different deals to really bring the price down -e.g, combining a sale price, freebie and cashback, though these aren’t always all available at the same time.

It’s also potentially possible for you to cancel your Virgin contract and get your partner to sign up as a new customer to get special incentives. I’ve done this before with other providers, but I’ve also heard Virgin are cracking down on this. 

Haggle 

Even if you’re not keen to leave Virgin you can use the change to get money off your bill or extras thrown in for free. Do a little bit of research on what other companies are offering, and see if they can match it.

They might try to appease you by giving you extras for nothing, which is fine as long as you are actually going to use them. Personally I’d rather have money knocked off the bill than receive extra channels I won’t watch.

And if you don’t get the deal you want, I think it’s worth giving your notice and waiting to see if they call back. If they don’t and you really don’t want to go you can always call them back up and say you’ve changed your mind.

Do stay polite throughout the chat though – it won’t help you to get angry.

My Virgin Media haggling experiences

I’ve been with Virgin Media for the last four years, and during this time there have been three, if not four, times when prices have been increased. On each occasion, I took the opportunity to give notice. And each time I got a discount on my bill.

The first time, Virgin were especially eager to keep me as a customer. The cancellation department not only waived the price increase, they also gave me an extra discount for the bad service I’d had.

Fast forward to February 2019 and the end of my 12-month contract. I got in touch again, but this time the call centre team couldn’t match what I would get as a customer elsewhere. So I gave my 30-day notice.

The next day though I got a call from Virgin, offering me a deal even cheaper than the one I’d signed up for as a new customer 12 months earlier. It meant I’d have to ditch my landline – but that was no problem as I didn’t even have a phone plugged in!

And I’ve done this at each price increase and end of contract, keeping my price down.

Cut back 

With either leaving Virgin and sticking around, you can use this as a chance to drop some of the services you’re paying for but don’t actually need.

First have a quick audit of what you’re paying for – whether that’s call packages, TV channels and even the speed of your broadband. Then think about how much you use them – if at all. Ditching or reducing some of these are good ways to help bring down your bill further.

Look for alternatives

You also don’t need to get all your services from Virgin. It must be eight years now since I stopped paying for TV via my broadband service.

Instead I opted for a YouView recording box to record Freeview channels. I’ve got a BT one (you don’t need BT to use it), but there are plenty available (including this one for £129 at Argos. Mine is currently seven years old, working out at the equivalent of just 77p a month.

I then top up my channels by buying discounted NOW TV passes to get my Sky Atlantic fix – which you can’t get with Virgin anyway. I tend to pay under £3 a month for my Entertainment pass and Boost pass (required if you want HD and no adverts).

Combined that’s less than £4 a month for channels and services which would cost much, much more from Virgin.

Should you ditch Virgin Media?

I’ve given you the how to reduce your bills, but should you? I’d say if the saving you make is decent then yes, go for it.

But I appreciate it’s not all about price. If you’re happy with the service you get then it might be worth paying a little more (if that is the case) rather than switch away.

And don’t forget you Virgin Media customers can now get discounts on O2 SIMS and access to the O2 Priority loyalty app, with all sorts of freebies.

Personally I’ll be staying put. As you’ll know I do a lot of video work on my YouTube channel, so the extra upload speed makes a big difference to me so I’m happy to pay a little more than any deal I might be able to with a non-cable company. But I will be haggling to see what extra discounts I can get.

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December 29, 2021   |   Articles

The best of Be Clever With Your Cash in 2021

Written by
Catch up on my top articles, podcasts and videos from the last 12 months.

Over the last 12 months I’ve produced more content than ever before, writing 174 articles, recording 84 episodes of my Cash Chats podcast and uploading 142 videos to YouTube. And that’s not including countless deals posted here on the blog and Instagram!

No doubt even the most regular readers among you won’t have managed to take in all that money-saving and making content. So here’s a look at the highlights that are still well worth a look.

I’ve shared the most read, listened to and viewed over the year, which lends an obvious bias to content produced earlier in the year, so for each category I’ve also shared my personal favourite from the year.

And I’d also like to say thank you to all of you who consumer my content. This year will be my biggest by a long way, with more than 4 million views across all content. That’s double 2020’s figures. I couldn’t have done it without you, so thanks!

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

The Be Clever With Your Cash blog in 2021

It’s been another record year for visits to this site. In total 1.9 million people (up from 1.2 million last year) came to Be Clever With Your Cash reading a total of just over 2.8 million pages (up from 1.6 million in 2020).

I think part of this is down to the total redesign of the site back in May, and new sections for “Best Buys” and improved search on “Deals“

People looking at these sections for the best savings accounts and current accounts were as ever a huge part of the traffic, along with pages offering deals.

Elsewhere the most read new articles published this year included:

My personal favourities included my scoop on Sainsbury’s changing in-store Nectar offers and my expose of misleading advertising by HyperJar.

The Andy Clever Cash YouTube channel in 2021

2021 was the year where YouTube really grew for me. I started 2020 with 4,100 subscribers and by the time you read this that figure could well have just nudged over 20,000.

Views were also phenomenal, with more than 1.2 million taking place across all the videos – that’s almost 1 million more than in 2020.

Alongside the usual video guides, I also held 34 live Ask Andy Q&A’s which have been an amazing way to connect with you every other week.

The most viewed videos created this year included a number of “best for 2021 videos”, which I won’t share below as they’re obviously out of date (new versions are coming in the next few weeks). But of the rest, these had the most views:

It’s hard to pick a favourite here, but I love the format of the monthly updates on savings, banking and credit cards, while this week’s look at the best budgeting apps took more than a day to research, film and edit – so I hope it does well!

The Cash Chats podcast in 2021

There have been a total of 172,000 downloads (up by 46,000 from 2020) of Cash Chats, firmly placing it in the top 1% of podcasts WORLDWIDE.

I managed to publish at least one episode a week all year, bringing the number of consecutive weeks to 102! Podcasting might be smaller than the others, and not really bring in any income, but I love being able to speak to guests or just chat to you each week.

This year also saw the launch of a new bonus Friday episode called Your Money, This Week, and that was part of 2021 being the biggest year for my podcast.

The most listened to episodes this year were:

You can subscribe to Cash Chats on your podcast app via these buttons

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Our podcast

Listen to Cash Chats, our award-winning podcast, presented by Editor-in-chief Andy Webb and Deputy Editor Amelia Murray.

Episodes every Tuesday.

Listen now
Andy and Amelia with the text "Cash Chats Personal finance podcast"

November 22, 2021   |   Articles

What you should be asking for this Christmas

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If you’ve got family and friends asking what you want this Christmas and you’re struggling for ideas I’m here to help.

This isn’t one of those gift list guides that crop up everywhere from glossies to blogs. They’re often just lists of overpriced items the writer has been sent for free. Rarely of much use!

No, this is a very simple trick to not just give you a little bit of inspiration, but also help you spend less money on yourself throughout next year.

ask for christmas

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

My struggle for gift ideas

I know lots of people never really know what to say when asked what they want for Christmas – myself included.

It’s not that I don’t ever need anything, it’s just that I always buy what I want or need when I need it. Or for expensive things I tend to save up until I’ve enough cash, and then get it. So come December, my Christmas List is usually non-existent.

It really frustrates my family and I sometimes end up being given gifts which, being really honest, can be hit and miss. I’ve got to take most of the blame here. If I could just name what I want, it could avoid all this waste. But year after year I’ve struggled for ideas.

But a few years ago my friend Michelle said something which was a revelation. As soon as she mentioned it, I couldn’t believe just how obvious it was. I suddenly realised I hadn’t ever properly thought about what I really needed.

If someone asks what I would like, I’ve always thought about what I need at this moment in time. And that’s why I’ve struggled.

But the answer is to think beyond “right now”. Think about everything you frequently pay for throughout the year. 

What you should be asking for

Of course, if there is something else you’ve had your eye on but not been able to afford, or haven’t got around to buying yet, then that’s the perfect thing to ask for. But if not…?

Consider every regular cost you have. These are the things you actually need. These are where money spent on a present for you is going to actually be well spent. And they can still be nice things.

But there is a limit – I wouldn’t ask for money towards your other bills like energy or broadband. If you’re really struggling to make ends meet then there are different conversations that need to be had – perhaps a present amnesty so you don’t have to spend cash you don’t have.

Anyway, here are a few things you could be asking for.

The things you always buy

Ok, yes you might already get socks from your mum at Christmas, but what else do you need to resupply on? These are the things you will need, even if not at this moment.

Cosmetics and toiletries are top options here. You will get through a number of these through the year and they can often be expensive. So asking for one or two of them is a good bet.

Booze is another good one, as with most there isn’t a best before date you need to keep an eye on. This means there’s no problem getting them at Christmas for much later in the year.

Your subscriptions and memberships

There will also be many more expenses which aren’t things you buy in a shop.

Subscriptions for a start. If you pay for Netflix or Spotify every month, then why not ask someone to pay for it for a few months? Could someone buy you Amazon Prime for a year?

And if you’d be happy for someone to buy you Netflix, even the TV Licence could be a gift. It might seem weird, but think about it. You get all the tv and radio channels, as well as the website. That’s not really any different than asking for a DVD or CD.

Do you have any memberships, perhaps to the National Trust or Picturehouse Cinemas? Again, perfect gifts. Even if the renewal date isn’t for a few months, you can still ask for money towards it.

If you go to any classes, clubs or activities, see if someone will buy a batch of them for you. Services are another area you could ask for as gifts. Think haircuts or massages.

Activities and events

One of my go-to ideas for gifts is money towards a gig, or cash towards a special meal out. If you can name the actual concert or restaurant that’ll help the gift giver feel like the money won’t fritter away.

You could even crowdsource among different family members. I did this for my 40th, and this helped fund a trip to double Michelin star restaurant L’Enclume.

Services that free up your time

You could push this idea further still. If you pay for a cleaner or gardener, ask for a contribution towards these costs. That might feel like it’s taking this idea too far.

But the main reason people pay for these is to free up time to spend with their family. So it’s really a gift of time that is being given. I think that’s actually a top present.

Money vs gift cards

You probably could cover some of these expenses with gift cards – but I’d argue you’d be better off asking for money and making it clear how it will be spent.

With gift cards there’s always the risk that you’ll forget you’ve got them or lose them. Or, as we see year after year, if a shop goes under there’s no guarantee you’ll be able to use any cards you’ve still not spent.

Dealing with people who don’t like these ideas

These aren’t perfect solutions. For one thing, you can’t really wrap most of these, except cosmetics or booze. And this could be an issue for some gift-givers.

There’s often a reluctance to hand over money as a present. And even if someone is willing to do that, how often have you had people buy you little extras just so there’s something to unwrap?

It always annoys me when someone says “It’s the thought that counts”. No. I completely disagree. That’s only true if a gift is truly well-intentioned but falls short. Yet even then I’d argue it would be better to not buy something than buy a gift someone doesn’t want.

And I hate waste. Yes there’s the environmental impact of unwanted gifts, which shouldn’t be forgotten, but I really, really hate wasted money – whether that’s my money or someone else’s. And I hate it even more if it can be avoided.

So if you’re happy to receive the above suggestions as gifts then stick to your guns. Explain how they’ll help you throughout the year. Share why the service, subscription or club are important to you. Tell them why you don’t need little extras you won’t use. Hopefully they’ll happily accept your gift request.

If not, it’s the gift giver who needs to think about why they are buying you something in the first place. If they then decide to just buy you something else there’s little you can do.

Yes, sometimes a surprise gift can be spot on, and that’s fantastic. But let’s face it, it’s usually hit and miss.

Our podcast

Listen to Cash Chats, our award-winning podcast, presented by Editor-in-chief Andy Webb and Deputy Editor Amelia Murray.

Episodes every Tuesday.

Listen now
Andy and Amelia with the text "Cash Chats Personal finance podcast"

If you really don’t want or need anything

If you don’t feel these ideas work for you, then a final suggestion is one where the thought really does count. You could instead ask for a donation to a charity of your choice. I think you’ll agree it’s a far better option than getting a gift that ends up in the bin.

Finally, if you’re still to buy gifts, make sure you ask people what they want. If they’re struggling for ideas, maybe share this article with them – it could be the inspiration they need.

November 4, 2021   |   Articles

#FoodBankAdvent: How it works, and why you should take part

Written by
Join me and hundreds more in donating food and raising awareness of food poverty with a reverse advent calendar.

Many of you know I also run the UK Money Bloggers community. It’s a group of people like me. We’re all a bit geeky when it comes to money, and we enjoy sharing our passion with the readers of all our blogs. It’s a lovely network and a great source of support for everyone involved. But that’s not all it does.

Collectively we’ve got hundreds of thousands of readers, Insta-groupies, Facebook fans and Twitter followers. We’re what the industry calls “Digital Influencers”. And this means we can make a difference en mass. Or at least make a decent bit of noise.

So each year we run a Christmas campaign. A couple of years ago we had the idea of #FoodBankAdvent  and this’ll be the fifth year we’re doing it. Tens of thousands of people have taken part, and we want even more of you to join in this year.

What is the #FoodBankAdvent challenge?

You all know how advent calendars work. Well this is a reverse advent calendar. Rather than take something away, you give instead.

The challenge is to do this for 24 days. On each day you put an item into a box. And then once the box is full, you donate it to a food bank.

It’s very simple. Yes, you could just donate a box of food in one go (please do!), but doing it this way not only makes it a bit of a project, but it also helps raise awareness of the need for donations.

Each year many of the people taking part, both bloggers and readers, shared their pictures on social media with the hashtag #FoodBankAdvent and it makes a huge difference getting more people to join in.

Why food banks?

Millions of people in the UK are going hungry every year. Some of this is down to debts and low pay, but delays to Universal Credit payments are often making the matter worse.

Those struggling don’t have enough money to cover their essentials, and that often means there’s not enough money to eat.

Recent figures from the Trussell Trust, which runs the largest network of food banks in the UK, show they distributed three-day emergency food supplies to 1.9 million over the 12 month period BEFORE the pandemic. And demand has soared since. It’s shocking that this happens.

If you aren’t convinced, then watch Ken Loach’s film I, Daniel Blake. It’s an amazing film, even if I was in tears for most of it. Please do watch the whole movie, but if you can’t, then watch this clip. It really brought home to me the needs to do something to stop food poverty.

Now is the time to start your reverse advent calendar

You can do this at any time, but it helps to do it in November. The main reason is you are then ready to donate it in early December rather than just before Christmas.

Food banks are usually staffed by volunteers and rarely open every day. That means the earlier you get your donations to them, the easier it is for them to sort the items and get them to people. A donation on Christmas Eve might seem the most festive, but it’s also the least practical.

You can of course donate in the New Year instead if you want, just make sure the dates on the food you are collecting are long enough. And if you can, please do continue to donate throughout 2022.

How you can take part

It’s really easy. Start collecting extra bits when you go to the supermarket. And not just food. Toiletries, including sanitary towels, are expensive too and are very welcome donations.

Here’s my collection from 2020:

It’s well worth checking out what your local food bank needs, as often there’s a surplus of some items (pasta and beans for example) and a lack of others.

You can search for Trussell Trust food banks by postcode, but there might be others in your area run by local community or church groups. It might be you need to take your donation to one of the foodbanks, but you might also have a drop off point at your local supermarket (there’s one in my Waitrose for example).

Please, please, please do share your progress on social media, and use #FoodBankAdvent. Combined we can use this to make some noise and get even more people taking part.

You can also read more about the campaign and get regular updates over at www.ukmoneybloggers.com.

October 27, 2021   |   Articles

Autumn Budget 2021: What you need to know

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What you need to know about the Government’s spending and taxation plans.

This Autumn Budget, as announced in Parliament by Chancellor Rishi Sunak on 27 October 2021 didn’t have many surprises.

Most of the measures were leaked in the days ahead than in any previous year I’ve covered (even more than last March’s budget).

But there were still some extra details and a handful of fresh announcements, and I’ve compiled a list of the key ones below.

More detail may come in the next few days, and I’ll add information below as it’s revealed.

I’ll also be talking to the financial journalist Lily Canter on Thursday’s episode of my Cash Chats podcast to analyse everything. You can subscribe now on your favourite podcast app so you don’t miss it.

Watch my Q&A on YouTube talking about the Budget

Jobs & benefits

The headlines here are around wage increases for the lower paid and public sector workers – though in the context of high inflation and increased living costs, any extra cash is likely to be eaten by elsewhere.

Minimum wage to increase

From April the National Living Wage for those over 23 years old will increase from £8.91 an hour to £9.50 an hour. This 6.6% rise means someone on minimum wage who works 35 hours a week will see their pre-tax income jump up by £1,074.

This is before tax, the increase in National Insurance and any impact on the UC uplift cut.

And of course, many employers will choose to pass on some or all of this cost on to customers – which will also eat into the value of this increase.

There are also increases for younger workers. Those aged 21 or 22 will see the minimum wage increase from £8.36 to £9.18. It’ll increase from £6.56 to £6.83 for those between 18 and 20 years old, while under 18s will see a jump of 19p to £4.81 an hour. The Apprentice rate will go from £4.30 to £4.81 an hour.

It’s worth noting here that though the Government rebranded the minimum wage as the National Living Wage a few years ago, it’s different from the level recommended by the Living Wage Foundation. The figures for 2021 will be announced on 15 November and with the increased cost of living over the last 12 months it’ll remain higher than the increases listed above.

Universal Credit taper change

People claiming UC will be able to earn more from work before they begin to lose their benefits.

The current “taper rate” of 63p means that if you earn over a certain amount you’ll only keep the equivalent of 37p from every pound due in benefits – putting some off working more hours or going for better paid jobs.

The new rate will be 55p per £1, and this will be introduced within weeks and certainly before 1 December 2021.

There will also be an increase by £500 a year in the Work Allowance (how much you can earn before the taper is introduced) for those caring for children or a household member with limited capacity for work.

Public sector pay increases

Workers for the NHS, schools, police, civil service and other parts of the public sector will see a pay freeze ended. It’s not clear what the increase will be, and it’ll no doubt vary depending on each area. All the small print says is the increases “should retain broad parity with the private sector”.

Nothing on rumoured student loan changes

Nothing was said about the rumoured change to when people begin repaying student loans – though that could still come as a separate announcement.

Personal Tax & Savings

Alcohol tax revamped

There will be just six (rather than 15) different tariffs on booze. The stronger alcohol will be taxed more than before, while lower alcohol drinks will be taxed less. Four of these tiers (though not the rates) will be:

  • 1.2-3.4% alcohol by volume (ABV),
  • 3.5-8.4% ABV,
  • 8.5-22% ABV,
  • and above 22% ABV

As part of this, sparkling wines will no longer be taxed more than still wines, and fruit cider will be taxed at the same rate as apple and pear cider.

There will be a relief for smaller producers while pubs will also get a break with 5% relief on draught beer and cider – presumably these are the two other tariffs.

These new rules won’t come into effect until April 2023, but the broader increases set for alcohol this year will be cancelled.

Flight tax changes

There will be a 50% cut in Air Passenger Duty for domestic flights, but long-haul flights over 5,500 miles will be faced with a new tax that will be £91 for economy, and more for higher classes. That’ll include most of South America and Asia, and potentially the west coast USA.

I’ve had a quick look at distances using this site, and London to Los Angeles is under 5,500, but Edinburgh to LA is just over! While it’s the other way around for trips to Mexico City. I’d imagine the 5,500 distance will be evened out, rather than making it more expensive to fly from Scotland than England.

Fuel duty hike frozen

Fuel Duty won’t increase this year, though there are no cuts to changes to combat record petrol prices.

Personal tax

The big tax increases were announced last month – a hike of 1.25% on National Insurance and Dividends to start in April. Income Tax rates were also frozen last year and there were no changes announced.

VAT stays on energy bills

Some have been calling for a temporary suspension of 5% VAT on energy bills to help with the huge increases over recent months (which will likely continue). This was rejected by the Chancellor and stays in place.

Green Savings Bond

First announced back in March’s Budget, the Green Savings Bonds are now available to use for your savings – though they aren’t great. Here’s my analysis and list of alternatives.

Business Tax

I won’t go into all the business announcements as this is about personal finance, but there are a few significant ones.

50% discount on Small Business Rates

To help small retailers, hospitality and leisure businesses there will be a 50% cut in Business Rates for a year.

There will also be changes to broader Business Rates that’ll see them reviewed every three years, and a planned increase for next year will be cancelled.

No new online sales tax

It was thought there’d be some kind of announcement on an extra tax for online businesses, but this didn’t happen.

Property developer tax to fund cladding removal

The biggest property developers (worth more than £25million profit) will be taxed at 4% to build a £5billion pot to fund cladding removal on high risk buildings.

** UPDATE – turns out this is another measure that has already been announced!

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Spending announcements

Transport

A regional transport package was announced worth £6.9bn, though only £1.5 billion is new money – the rest has been previously been revealed, including £4.2bn in 2019.

The money is to be spent on buses, trams and trains in England. Further money will go to Scotland, Wales and Northern Ireland.

Education and skills

School funding will return to 2010 levels, worth £1,500 extra per pupil.

There will be money spent to fund new T-Level qualifications for 16 to 19 years olds (announced back in 2020) and £560 million to train 500,000 adults with low numeracy skills via a scheme called Multiply.

Health

A huge £5.9 billion will go to the NHS to largely fund equipment to help reduce the waiting lists for scans and tests that’s built up. This is in addition to the £12bn announced last month that’ll be paid for through the National Insurance increase.

Culture

Some major museums and galleries will get £850 million to redevelop or refurbish buildings. Another £75 million will go to regional museums and libraries to improve facilities.

£500 million fund for families

Local governments will be given funds to launch support centres for families, while money will also be allocated to areas such as mental health services and help with breastfeeding.

Overseas Aid funding returns

By 2024 the UK will once again provide 0.7% of GDP for overseas aid.

October 8, 2021   |   Articles

Contactless limit now £100: Good or bad?

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With the spending limit set to jump to £100, I’ve taken a look at the pros and cons of tap and pay.

I’ve been using contactless since it launched in 2007. It’s so easy that I rarely use cash or Chip and PIN at all. Tap for this, tap for that…

And with the pandemic I think we are all grateful that we don’t have to use the keypad for every card transaction.

I’m not alone. We’ve all been using contactless in the UK so long now that it’s second nature.

Each year more and more transactions are made with a simple tap, particularly with debit cards where 64% are contactless. It’s slightly lower for credit cards (46%) – probably because we’re likely to spend more money on these cards, which may have been beyond the £45 limit.

But that’s all set to change, with the limit now jumping up to £100 from 15 October 2021 (though since card terminals need to be updated it might be later for some retailers).

It’s a big increase. Only 18 months ago the limit was still £30. While some people are worried it’s too high a limit, others are looking forward to paying more this way.

So is it a good or bad move by the Government? Here’s my take on everything from security to convenience.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Watch the video or keep reading

Are contactless cards safe?

One big fear with contactless is that it’s easy for someone to steal your card and spend your money. That’s totally true, and though it doesn’t actually happen much, I’d imagine the £100 limit will make card theft more appealing to crooks knowing they can buy more expensive items.

The other worry is that people could scan your card without you realising but holding a reader against your wallet. This sounds scary but in reality it’s far more complicated and there’s apparently no evidence this happens.

But even with these risks, there are protections. First up, card rules state that you have to enter your PIN after five contactless transactions or when you spend a total of £300 across multiple contactless purchases.

(If this happens to you it might appear that your card has been rejected – just try again but this time insert your card rather than tap it and enter your PIN. Here’s more on how this works.).

So the most a crook could spend is £300, and probably less depending on when you last had to enter your PIN.

And if this does happen, then you will get your money back. So you won’t lose out financially, though it will obviously inconvenience you.

Limiting contactless fraud

You can also limit any losses with most banks by enabling a couple of features in the app. One is to get instant notifications each time the card is used. If one pops up on your phone and it wasn’t you, then you know to take action.

And that action can be as simple as freezing your card. Most banks offer this feature now, and it’ll stop whoever has your card spending any more money.

It’s also far better than cancelling your card if you think it’s lost but there haven’t been signs of fraud. If it later turns up you can unfreeze it and keep using it.

You could also consider a RFID wallet. This has aluminium lining which essentially stops anyone scanning your cards. Personally I’ve not bothered with this as the risk is so low.

Changing your contactless limit

A handful of banks are adding in the feature to set your own personal contactless limit. I don’t really think this is necessary based on the other measures outlined above, but if you feel happier this way then it’s worth a look.

The banks doing this are:

BankPersonal contactless limit
Bank of ScotlandIncrements of £5 between £30 and £100
HalifaxIncrements of £5 between £30 and £100
LloydsIncrements of £5 between £30 and £100
Monzo Increments of £5 from £0 to £100 AND total spend when PIN required
StarlingIncrements of £10 between £10 and £100

Other banks might add this feature later. Alternatively some apps let you turn off contactless completely, or you might be able to ask your bank for a debit or credit card which doesn’t have contactless. Again, I think this isn’t going to be necessary for most people.

Making it easier to spend

The convenience of contactless is just how easy and fast it is to spend. The new £100 limit will mean even more purchases are eligible for contactless. For me it means I’ll be able to tap the majority of the time – it’s very rare I buy anything in a shop that costs more.

But that has a flip side too. Other payment methods, cash in particular but Chip & PIN too, introduce levels of friction to every transaction.

When you hand over notes and coins or look at the total on a PIN keypad, you are much more aware of what you are spending. And this registers, even subconsciously. You are more likely to adjust future spending and have a more accurate idea of how much is in your account.

A few years ago on holiday in America I was shocked they still asked me to sign for card payments – but it really made me think about my total spending.

But with contactless it’s so easy to just tap and not even look at the total. And that will happen more often with the £100 limit.

Though it removes some of the convenience, you can reduce the impact this has by asking for receipts. This also has the added advantage of ensuring you haven’t been overcharged.

And going back to banking apps, checking transactions on there as they go through should help register that you have parted with cash, as well as seeing the impact on your total balance.

It’s also possible that some banks might add in the facility for you to set your own lower contactless limit – a good idea if you’re worried you’ll spend more than you should.

Limits are even higher on smart devices

Of course, contactless isn’t just something on cards. You can also use the same technology to pay with mobile devices via Apple Pay, Google Pay and Samsung Pay.

And the £100 limit doesn’t count with these. In fact the only limits are if a retailer wants to have their own in place. A friend told me he used an iPhone to pay for another iPhone!

The reason you can spend more is that these cards have secondary security measures – things like your thumb print or facial recognition.

And it’s possible we could see that technology come to cards too. A few years ago Natwest trialed biometric debit cards – though we’re yet to see them roll out to customers.

June 13, 2021   |   Articles

What is a good credit score?

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When is your credit rating good or bad? And what does it mean?

I’ve got four different credit scores. 999, 906, 636 and 505. Is one better than the other? You’d assume that since 999 is highest, that’s my best one. And the lowest at 505 needs some work.

But all are actually classed as “excellent”. And the 906 and 505 are from the exact same data – but with different ranges.

So it’s clear that it’s not a simple case of saying the higher the number is better!

In this article I’ll help you get an idea of how good your score actually is, and how the different classifications of bands could impact your changes of borrowing money and applying for credit.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

The problems with credit score ranges

The main issue with credit scores is there isn’t just one. In fact there are three different companies providing scores, and they don’t all use the same data about your finances.

Another problem with credit scores is they’re calculated in completely different ways. You can’t really use a number to say if it’s good or bad without the wider context such as the range that number is taken from. Some are out of around 999, others out closer to 700.

And, to complicate it even more, the companies you apply to don’t actually use these scores! They access the data behind the scores from the credit reference agencies alongside any information you provide. They also look for different things depending what you’re applying for.

So clearly it’s not always so obvious what a good score is and know whether you’re going to be accepted for whatever credit youre applying for.

What credit scores are excellent, good, fair and poor?

Here’s how the three different credit reference agencies class each score, as well as their own ranges.

Experian

Experian is the biggest of the agencies. They score out of 999.

Experian credit score ranges

  • Excellent 961-999
  • Good 881-960
  • Fair 721-880
  • Poor 561-720
  • Very poor 0-560

Equifax

Equifax recently changed the range from 1-700 to 1-1,000.

Equifax credit score ranges

  • Excellent 811+
  • Very Good 671-810
  • Good 531-670
  • Fair 439-530
  • Poor 0-438

However, if you are checking your score for free through Clear Credit you’ll still see the old range. Clearscore told the DebtCamel website.

“We have plans to move to a score out of 1000 later in the year. It has always been our mission to make the world of credit clearer, calmer and easier to understand, and this move will hopefully make things a lot clearer for the consumer.”

If you’re seeing the score out of 700 the range is as follows:

Equifax credit score ranges on ClearScore

  • Excellent 467+
  • Good 420-466
  • Fair 367-419
  • Poor 279-366
  • Very poor 0-278

Transunion

TransUnion, which you can access for free through Credit Karma, scores out of 710.

Transunion credit score ranges

  • Excellent 628+
  • Good 604-627
  • Fair 566-603
  • Needs work 1-565

What’s an average credit score in the UK?

Not all the credit reference agencies share this, but ClearScore, using the old Equifax system says at the time of writing that the UK average credit score is 414. This puts it in the “Fair” band, though right at the top.

Experian offers a map where you can break down scores by regions (and age too if you want). For London the average credit score is 887, which ranks as the bottom end of Good. For North Somerset, it’s 823, halfway through Fair.

How important is a credit score?

The most important thing to say here is credit scores don’t actually mean anything definitively. They’re an indicator of how good or bad your credit report is (I’ve explained more in this article about credit reports).

But this isn’t the only information lenders take into account. Extra details you provide, such as your salary, could help or hinder your chances of acceptance. In fact, they won’t even see this score, and will create their own version of it based on their own criteria, the info on your credit report and the extra details they have.

Really the number itself is pretty meaningless, except to measure your progress when trying to improve it. If you see it go up you know you’re doing the right things.

If you see it dip then it could be a sign you need to take some actions – though it’ll always fall a little after a new application and will right itself after a while.

What do the different credit score ranges mean?

Really it’s probably better to look at the category your credit score sites in. Broadly scoring in the different ranges from excellent down to very poor is likely to mean the following:

What an excellent credit score means

Across the agencies “excellent” suggests you’ll probably get accepted for most types of credit and be offered the best rates and deals. But there’s no guarantee and you could still get rejected when you apply.

What a good credit score means

A “good” credit score indicates you will usually be accepted for credit, though you might not get the best deals.

What a fair credit score means

An “average” or “fair” score means there is still a decent chance you’ll get accepted but you won’t get the best deals or rates. For example, you might get a lower credit limit or a shorter 0% period. It’s even more important to use soft checks, particularly on credit card applications, to find out who will accept you.

What a poor credit score means

If your score is classed as “poor” or “needs work” – and it’s likely you’ll be seen as high risk to lend to therefore far less likely to be accepted when applying for credit.

What a very poor credit score means

Right at the bottom, being classed as “very poor” is a sign you will probably get rejected. This could be because you have some black marks on your credit report – such as bankruptcy – or maybe just a very limited credit history.

Andy’s Top Takeway

Credit scores can be a bit of a minefield. Especially considering the score you are looking at may not even be the same score prospective lenders are looking at. Rather than focusing on numerical value, find out where that falls on that agency’s scale and that will give a clearer idea of what your score means.

How to check your credit score

Good news! You don’t need to pay to check your score, or more importantly, your credit report. I’ve written more detail on the free credit report sites here.

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