Times explains how to 'inflation-proof your life'
www.moneynews.co.uk > General finance > Times explains how to 'inflation-proof your life'
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Money News |
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Times explains how to 'inflation-proof your life'
Mon 18th Aug 2008
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It offers advice on how to beat the costs of inflation in mortgages, fuel, savings and investments and pensions.
The paper notes that Nationwide and Scottish Widows have the cheapest standard variable rates for mortgages at 6.49 per cent.
Tracker and fixed-rate deals by Nationwide and Newcastle Building Society respectively are also recommended.
Rising fuel costs can be cut by up to £300 by shopping around and switching supplier, with further savings made by direct debit payments.
As another way to cut fuel costs, buy rail tickets early and remember that two singles may be cheaper than a return.
To optimise on savings and investments, the paper suggests ISAs by the National Counties and Leeds building societies.
Regarding pensions, Tom McPhail of Hargreaves Lansdown told the paper than pensions contributions should increase every year in line with earnings.
The Open University's first Student Price Index found that true inflation for undergraduates in England is almost seven per cent.
This compares to the Consumer Price Index of 4.4 per cent, the Press Association reports.
Related News : General finance |
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Related News : Nationwide |
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