"The most important single ingredient in the formula of success is knowing how to get along with people."Theodore Roosevelt
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Cover yourself up!
Almost anything can be insured these days: breasts, legs, your goldfish, your mental health, physical health, your own life, your child’s life. You can insure against the bad weather, good weather, political events…. This week in Scotland, triathlon ...
Lions and loans: why finance should always be personal
Different types of loans are available for almost every aspect of your life: personal loans, car loans, secured and unsecured loans, home loans, homeowner loans, student loans, graduate loans and career development loans (CDL). If you’ve suffered from ...
With Credit Cards Hitting Hardest, UK Consumers Tax Themselves With Penalty Charges On Personal Finance Options
A rise in costs for users of any financial service usually results in public outcry, why is it then that so many of those same consumers allow penalty fees and charges to accrue on their credit cards, when the problem could so easily be avoided? The ...
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On one hand consumers are being universally criticised for running up significant amounts of debt on credit cards, yet conversely many companies are capitalising on the growing credit card debt, from charities and political organisations to football clubs, the Association of Surgeons and somewhat ironically ActionAid, an international development agency whose aim is to fight poverty worldwide.
Financial comparison site moneynet.co.uk provided 226 credit cards in a general credit card search, from which the consumer could choose a product to suit their lifestyle, as well as their wallet. Credit cards with charity branding involve many major organisations including Amnesty International, Christian Aid, WaterAid, RSPB, Save The Children, the Ramblers Association, Oxfam, Greenpeace, the Vegetarian Society, RSPCA, ActionAid, Children In Crisis, Help The Aged, Tearfund and the Terence Higgins Trust.
Perhaps it is fair to say that if people are going to spend on plastic, they should be helping charitable organisations on the way and should they feel inclined to contribute to a political institution, donating a small % of each transaction is a convenient method. If most consumers were ethical spenders, then associations between transactions and third party beneficiaries would inherit this quality, but as debt spirals out of control, is it responsible or ethical that someone should benefit at the cost of someone else?
Although it is standard for most card providers to offer an introductory free period, the consumer may be hit by a more substantial annual percentage rate (APR) later on the year, with some providers, such as ASDA charging a massive APR of 28.8%. Even ActionAid charges an APR of 17.9%, rescuing the developing world at the expense of the developed.
About the Author For further information about credit cards and details on specific providers:
http://www.moneynet.co.uk/
http://www.eiris.org/
http://www.creditaction.org.uk/
http://www.moneybasics.co.uk/mb/site/Home.html
Rachel writes for Cashzilla, the personal finance blog:
http://www.cashzilla.co.uk/
Rachel drinks Guinness.
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Wednesday's Personal Finance StoriesMarketWatchRobert Powell writes in his Your Portfolio column today that if you have ever had an investment plan or worked with a financial adviser, you've probably filled out a risk-tolerance questionnaire. The problem is that most investors really don't ...and more » |
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The sad state of personal finance educationChicago TribuneYet little attention is paid to educating our citizens in personal financial planning. There never has been a comprehensive attempt to provide even basic education in this area -- but all evidence suggests it is sorely needed.and more » |
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The sad state of personal finance educationChicago TribuneYet little attention is paid to educating our citizens in personal financial planning. There never has been a comprehensive attempt to provide even basic education in this area -- but all evidence suggests it is sorely needed. |
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