Petrol Price Set To Increase
Petrol prices will reach £1.26 a litre by 2011
Presently, it costs £7 more to fill up the tank of an average car than it did a year ago. This is yet another petrol price increase which will hit consumers, after the recent announcement that bread and gas prices will also increase.
The Retail Motor Industry (RMI) has released figures that show a staggering increase in petrol prices. Prices are set to rise by 4p by the end of the month and it is estimated that by the New Year petrol prices could be as high as £125.9 per litre.
This petrol price enlargement is due to the steady increase of crude oil prices.
This price of petrol increase is adding fear to the other key living costs that are also set to rise. It is expected that the cost of a loaf of bread will increase by 10p after Russia put a ban on all grain exports. In addition, the energy market is also expected to put up gas prices which will affect households nationally.
Payplan
If you’re struggling to pay your bills and are behind with debts due to increased living costs, then contact Payplan for debt advice online or telephone 0800 280 2816.
Filed Under Debt News | Trackback | Leave a Comment
Holiday debts soaring in the UK
Holiday debt has become an increased problem
The Association of Business Recovery Professionals (R3) has released new figures which state that holidaymakers will take seven months to pay back the average sum of over £1000 they borrowed to pay for their holiday.
The research looked at how the economic recession has affected holidaymakers’ habits. It found that:
- Those holidaying from Scotland are most likely to borrow to pay for their holiday
- 10% of people from London said that the cost of their holiday would be paid for by borrowing
- Those from the North West, Yorkshire and the West Midlands are least likely to borrow to pay for their holiday
The research also illustrated a generational split, with holidaymakers between the ages of 16 and 24 being the most likely to borrow and those over 65, the least likely to borrow.
R3 Vice President, Frances Coulson, remarked:
That people are prepared to take on a substantial amount of debt for such a long period of time in order to afford a holiday is worrying, especially as these are still economically uncertain times. Personal insolvency hit record levels in the first quarter of this year and looks set to rise – so we’re urging people not to spend more than they earn.
Payplan
Payplan offer debt advice on a range of issues. You can contact Payplan online or call 0800 280 2816 for free advice and support to help manage your debts.
Filed Under Debt News | Trackback | Leave a Comment
5 tips to cut the costs of living alone
5 ways to save if you live alone
Although living alone can have its advantages, it can also lead to financial difficulties. The Joseph Rowntree Foundation’s research showed that it would cost a single person £14,400 a year to reach a basic standard of living.
Follow Payplan’s 5 top money saving tips to reduce living expenses:
1. Mortgage
Couples are at an advantage as they can split the cost of their mortgage. The best mortgages are available to those with deposits of at least 25%, whether it is in joint names, or individually. If you are looking for single occupancy, you could ask your parents to act as guarantors so that they would be legally responsible for paying the mortgage if you were to default on payments.
2. Council tax
If you are the sole occupant of a property you can apply to receive a 25% discount off your Council Tax bill.
3. Water
People living alone or those who currently pay higher than average charges for their water are most likely to benefit from a water meter.
4. Gas and electricity
Make sure you shop around for the best deals. GoCompare and Money Supermarket are two well-known comparison websites which will help you find the cheapest deal. Some energy companies do not offer discounts to those living alone, but tariffs with no standing charges may an advantage for someone who lives alone.
5. Car insurance
Some car insurance companies may charge you more if there is only one person on the policy. It is often cheaper to add someone else onto the policy. If you do not have a partner, you can lower your premium by including another person, such as a flat-mate or parent; this will save even more if the person is older.
Payplan
If you’re struggling to afford your monthly utility bills contact Payplan today for free advice on 0800 280 2816.
Filed Under Budgeting | Trackback | Leave a Comment
Copyright © Payplan Ltd
2012 . Payplan Ltd. is part of 
Ltd. Payplan, Payplan Financial Freedom, Paylink, Totemic, the Payplan Logo and the Totemic Logo are all trademarks of Totemic Limited.