Mrs Mean Money Show

Customers are owed £3.7 billion by energy companies. The money has built up from overpayments of direct debits and should be returned. Companies err on the side of overcharging when they set up the amounts we have to pay for direct debits. A small buffer is sensible, but all too often customers are owed hundreds of pounds and more. We need to get our money back and after a 12% price reduction in April and another cut due to start in July it is time to contact our energy companies if they have not volunteered a reduction in monthly payments or a refund. It can take time to get through to the call centres and then to get a refund agreed. If you are owed money and the company is refusing to make a refund the Energy Ombudsman should help you and if the company still refuses to hand over your cash you can move to a rival energy company and then the old one will have to give you your money in 10 working days or pay a penalty of an additional £30.Once you have got your refund it is worth checking if elderly relatives, neighbours or friends are due a refund. Hosted on Acast. See acast.com/privacy for more information.

It is the peak holiday booking season as we look forward to summer sunshine. But first of all you need to make sure you get a great deal for your flight, hotel, hire car and holiday money. And as soon as you book you must protect the dream with travel insurance.We tell you how to avoid being ripped off by hire car companies, which are the best days to travel, and how to avoid extra costs.Avoid airport currency exchange bureaux and when abroad always pay in the local currency.Read the terms and conditions before you book, highlighter pen in hand, so that you are not shocked by by the cost for extra mileage on your hire car and know that trying to return the vehicle empty is the most expensive deal.Budget airlines are not always the cheapest and since Brexit passports expire sooner than you think. Check yours.Holiday bargains are not always what they seem. But holiday memories are worth the prep.Please send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: www.mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Millions of credit card customers face a big increase in the cost of their borrowing, but many will not know.  Barclaycard is reducing the minimum payments that customers will be charged from July.  Someone owing £2,500 will have a minimum payment of  £71. 21 from July down from £89.96 - an apparent  saving of £18 a month.   But this move alone increases the cost of paying off balances because customers paying the minimum will be paying the high interest charges for longer.  Not only is the company reducing the monthly payments but it is also increasing the interest rates at the same time by about 15% from  18.71% to 21.59% for example.  So not only are cardholders  paying  for longer, but they are also paying a higher rate of interest.The cost of paying off  card balances could cost thousands of pounds more if minimum payments are made every month.  A customer choosing to pay £100 on a £2,500 debt instead of £71.21 would save a massive £3,522.57 in interest. Pay as much as you can each month or apply for a zero interest card to pay off debts even quicker.   From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Children are very expensive, especially if you work.   The government has increased the financial help it gives towards child care costs so that the parents of two-year-olds can now get a contribution towards the costs.  But this is still likely to be a lot less than is needed. The official line is that two-year-olds are entitled to 15 hours free child care a week if the parents each earn less than £100,001 a year. But when school holidays are taken into account the free care is equivalent to one  10-hour day a week and extra costs for food and nappies are  also likely to be added. And that is if you can find a child care place.Budgets for babies are undoubtedly stretched making it vital that parents get every bit of help they can to cover the costs of children.From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Loyalty is the latest tool that supermarkets use to lure us into their stores.  Big signs and advertisements suggest we can save lots  of money  but in reality you need to take a calculator, check prices carefully on grocery websites and allow extra time if you are not going to be ripped off. Loyalty cards offer cheaper prices to customers who have them.   But this loyalty is fickle and the offers seem to change at whim.   And often there is not enough information for us to compare prices and work out which is the best value.Shrinkflation where the contents of packs are reduced but the price is not, add to the confusion.   The stores are constantly changing their scheme rules and the timing of their offers so we have to be alert.  For many it is simpler and cheaper to use discount stores and the economy ranges.  We do not have to be loyal to one group.  Remember the big chains are  making bigger profits this year from our loyalty. From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

April is the cruellest month when many of our household bills increase.  The battle  to tame inflation has not yet  been won so we have to cut our household  bills wherever possible. Even energy bills that are set to be reduced by 12% on April 1 are still more than twice what they were before Ukraine was invaded.  So there is no better time to check all our household bills to find out where savings can be made. Water bills are set to rise by an average of 6% in April, but the good news is that millions of households can cut their bills immediately.  If you do not have a water meter they cost nothing and if you have more bedrooms than people living in the property you should save money.  Those who shower at the gym or travel a lot may also benefit.   If your bills do not come down  after a meter is installed you can ask your water company to switch you back.Energy bills may be falling but we still need to be alert and to make sure we are not wasting gas or electricity, and we must send a reading to our energy companies early on April 1 to make sure we are not charged winter prices for Spring usage under the new Ofcom price cap.   Also check how much you are in credit on your direct debits.   Energy companies have £7 billion of our money accrued because we have paid for more energy than we have used, and as days get longer and warmer and the new price cap comes into operation it is a good time to get back any overpayment.As council tax bills increase in April householders should check if they can save money. Broadband and mobile costs are set to increase by up to 8.8% but only if you are in contract.  Everyone else should call their supplier and negotiate a reduction.  There is also lots of money to be saved on insurance, credit cards, food and petrol. Take one bill at a time  and keep a record of the savings.  If you do not ask you do not get.From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

It is crunch time for millions of homeowners whose fixed rate mortgages expire this year.  They face much bigger monthly payments.After 14 interest rate increases over the last two years, and no sign from the Bank of England that there will be a reduction any time soon, many are fearful they could lose their homes, and may be putting off finding out just how bad the news is. It may be scary, but anyone facing having to remortgage cannot start soon enough. And delaying could be catastrophically expensive.Lenders will allow homebuyers to secure a mortgage interest rate six months before their existing loans expire.  Those not familiar with how mortgage payments are calculated may find the new payments, while higher, are not as frightening as they have feared.  The earliest cut in interest rates is now expected in May and then may only be 0.25%.  10-year bond yields, which are the key influence on mortgage rates,  have risen in recent weeks and the best remortgage rates have been withdrawn. But if rates do fall sooner than expected homebuyers should be able to abandon their fixed offer and move to a better deal at no cost.   Of course, it is important to establish the rules of the "insurance" offer when you agree it. Starting early also gives you time to fix your household budget and maybe get  £7,500 tax-free help. From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Succeeding in your A level exams is vital for the school students wanting to go to university this autumn.  But almost as important, as their studies, is working out how they will afford to live whilst they are at university. The government has increased maintenance loans for undergraduates by 2.5% for students going to university this autumn.  This comes after a 2.8% increase last year and two years of rapidly rising living costs.Parents are not told how much they should contribute towards their children's living costs, but families with an income above £25,000 are on the hook for cash help even though their living costs have risen faster than their incomes.  The threshold for parental contribution to student living costs has not been increased more than 15 years. This means that both parents and their children are likley to have difficulty funding university life.  So now is the time to start for families to have honest conversations and  to work out how they will manage to fund university life without getting into debt.   From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Tax returns have been filed so it is now time to find out if there is any money that HMRC owes you, and the quicker you are the more you might get. The current tax year ends on April 5 and if you make a claim before then for an allowance you should have then you may be able to backdate the claim to 2019.And there is lots of money waiting for you to claim it.  There are 2.1 million couples who are eligible for the married couples' allowance who have not claimed it.  They could be able to claim up to £1,256 and have it in their bank accounts in weeks.  If you still have to work from home a tax rebate could be waiting for you.  If you need specialist tools or uniform for work then you might be able to get money from the tax office. Use your trading, property and savings allowances.   Rent a Room out and pay no tax on the £7,500 you receive from your tenant. Make sure you claim the full  tax relief on any charitable donations and for pension contributions. We all need to get what we are due.From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Insurance companies are competting to charge us more.   The average homes' insurance policy already cost 36% more this year than last, before storms Babet, Ciaran and Debi damaged thousands of homes  causing half a billion pounds worth of damage.   And then came the even more powerful  Henk.While the insurance  companies will find reasons to increase our premiums we all need to make sure we do enough research to stop us being massively overcharged.  For two years the companies have been under instructions from the Financial Conduct Authority to treat existing customers fairly, and not to  charge them more than new customers.  There is lots of evidence that they are not managing to do so yet.   This means that when your policy is due for renewal you need to make sure you are not overcharged.   Start your research early and never allow the company to auto renew. Just as important: do not accept their "easy terms."   Making monthly instalments can add 40% to the cost of the policy.  Do not leave renewal to the last days of your existing policy.  The earlier you commit the cheaper the policy is likely to be.  Twenty-three days before the policy expires is the sweet spot.  Mrs Mean wants you to be in control of the process and to pay less.From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Banks make billions a year by charging borrowers lots and paying savers little.  Now with mortgage rates coming down as banks compete for customers savers have to be nimble if they are not going to lose out. Now is the time to find out whether you can get a better return on any savings you have. Banks are already reducing the interest they pay on deposits and have long paid little or nothing to customers with easy access to their money.  At the end of 2023 it was reported that £255 billion was sitting in seven million bank accounts that paid no interest at all.  It is time to make sure you do not have one of them. Benefit claimants can open a government-backed Help to Save Account that pays 50p for every £1 they save over four years. If you have less than £12,570 in income each year you may be able to earn £18,570 in savings without paying any tax. Meanwhile it is worth starting very small with a penny on day one, two pence on day two and at the end of 366 days you will have £671.61 ready to save more in 2025.Please send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

We have been battling inflation all year and now retailers are trying to persuade us to spend whatever we have managed to save.Everywhere we are being offered half price goods and even cheaper.Before you are tempted you have tocheck whether the price cuts are as good as the stores say, and whether you need what is being offered.It has been a tough year for retailers but we do not need to help them empty their warehouses of the goods they bought expecting to make big profits.If you want to shop in the sales do your homework and make sure you are protected from fraudsters.Please send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

New Year is an opportunity to get our finances under control. There is the quiet period after Christmas to review all our accounts and to work out if there is money to be saved.More people are using cash to give themselves better control of their money.  It is much more difficult to overspend when the cash runs out and we notice every overspend.It is tougher this year to balance budgets but there are quick wins for all of us if we check our bank accounts and credit cards.   We also need to check if we are using all the apps and services that we are paying for.  We have one advantage this New  Year  in that all employees and self employed will be getting a discount on their National Insurance premiums from January 6. Many more will get a pay rise in the New Year.No budget can be sorted in one session.  Little and often is the way to make progress. From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Christmas is a tremendous financial strain each year, and it is probably worse this year as interest rates, food prices,  energy bills all challenge household budgets.  We all need to learn how to do more for less.There are lots of ways of giving presents that cost nothing, and even more ways of raising extra cash in the next few weeks .Banks are giving away up to £200 to customers who move their current accounts.  It should only take seven days.   Cashback schemes are slower, but can provide money for making a purchase that you always planned. Make sure you plan all your spending and that you get the cheapest price. You need to do research and should be proud of getting a good deal.  Nobody wants to be a sucker.Retailers are as  desperate to sell as we are to find gifts that are good value.   Some people wait until the New Year sales in an attempt to get bargains.  But less is more when it comes to Christmas.  Time together is worth a lot more than the latest toy or gadget.   Free is good.From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Black Friday is a danger zone for anyone trying to live within their budgets.  Retailers want us to splurge on things we didn't know existed or that we wanted them.  Fraudsters also put in overtime to part us from our money. But if you do your research before the spending-fest there are bargains to be had as retailers battle to persuade us to buy.  Retail sales have been reduced by bad and good weather and our reluctance to spend when our finances are stressed.But price reductions are not always clear cut.  Without the Trade Descriptions Act to ensure that false claims about prices cannot be made we are on our own and need to research prices  using websites such as Pricerunner and PriceSpy.  Reviews can guide on what are the best buys.  Fake websites and dodgy emails can part you from your money. The average loss per shopper in the Black Friday and festive shopping season in 2021 was £1,000 per person according to the National Cyber Security Centre. Your credit card can protect you from loss.  Even more important is allowing yourself time to assess "bargains." If you are rushed the chances are it is not. From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Mrs Mean has been listening to your questions and  says you do not have to wait for the Government to provide a giveaway Autumn Statement or Budget.  You can save money on your energy bills straightaway and some two million couples are missing out on tax benefits for being married that could provide more than £1,000 in weeks.Getting savings rates that are higher than the current inflation rate and making sure you do not pay too much tax is a must for those who have any spare cash. Answering listeners questions Mrs Mean also gives advice on avoiding fraud. Trust no one and do not allow yourself to be rushed. While lots of parents are facing big bills because they have fallen foul of Child Benefit rules Mrs Mean explains ways of avoiding the penalties and says it is time that the chancellor lifted the threshold that has  penalised parents earning £50,000 since 2013. From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

The incentives to buy an electric vehicle are gradually being removed and the cost of running them has risen.  It is not therefore surprising that the number of private buyers of electric cars fell by 14% in the year to September,  even before the government rolled back the deadline by five years  for the end to the sale of new petrol and diesel vehicles.Those drivers who already have an EV and those thinking of buying one need to check out all the costs and be aware of what to avoid. The cost of insuring EVs rose by 72% in the last year and some companies have stopped covering any electric cars for the time being.  Charging the vehicle in your own driveway or at work if the company offers free top ups is usually the best deal.   Supermarkets have a plethora of charges and different chargers that take varying times to power your vehicle.  Your local Sainsbury may be free and a Waitrose charger may cost £16 for a 50% 40 minute fill.  VAT on public chargers is charged at 20%.  At home it is 5% and the price per unit may be cheaper, and can be free if you have solar panels.From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Renters are having it tougher than homebuyers to get a home, with more than 20 people asking to view properties as soon as  they are advertised, and rents increasing by inflation-busting amounts. Finding the right property, or one that is good enough, is just the start.  It probably takes more work than buying a home because you do not have a solicitor or broker to help you.   It means to get ahead of the other potential tenants you need to make yourself attractive.  You need a reference from your current landlord and your employer and from anyone else who will speak up for you.   If you have not rented before landlords will want certainty that the rent will be paid. Offering six months' or a year's rent in advance is such a guarantee.  While most potential tenants do not have that sort of money to hand parents may be able to offer a loan from the Bank of Mum and Dad who the tenant can then pay back each month instead of the landlord.   Or maybe they can guarantee your rent.Some employers and colleges have relationships with letting agents, which may help their workers or students to get an early viewing.  Check with every colleague you have what their housing status is.   Ask them if their landlords have any vacancies.   A recommendation from a good tenant puts you at the front of the queue. Being first to hear of a property also makes a big difference.  Email alerts from letting agencies help, but you need to act quickly.  Make it a full time job if you can.  Make sure your referees are ready to reply to requests instantly.   Have copies of your last three pay slips to hand .Dress to impress landlords and agents.From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Online companies appear to set out to mislead customers about the prices they will charge  when we get to the checkout.  Everyone knows that the flight price first offered is likely to be doubled by the time we pay.   Unfortunately many other companies are using the same trickery. The government is consulting on whether it needs to ban charging more than the initial price  by what it calls "drip pricing."It will, no doubt, take a long time for legislation to be imposed until then lots of prices will  not be easy to understand or in many cases honest.We should be able to ask for the cheapest price and be given it.  But too many service providers make us do all the hard work to find the best price.Until the law changes we have to do our homework and check out prices if we do not want to be ripped off. From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.

Credit cards are charging historic rates of interest and they are also trying to find new customers to pay these rates, and possibly spend more than they should.   Beware.As people struggle to pay their increased mortgages, rents, food and heating costs the card providers are offering extra credit almost daily.    One offer I received told me I would get a decision in 60 seconds whether I had got the super new card or not.   Never be rushed with a financial decision and before you  make an application check out all the costs and details. The card being offered was expensive.  And remember if you make an application that information is available to the whole credit industry and may damage your credit profile.Other offers received within days told me that I was 100% likely to get the new cards.  They are all tempting if you run out of cash every month.Now is the time for a masterclass in how not to be caught out by companies offering cards that will add to your debts.  You need to find out when you incur interest and how much it is.  How you can fall foul of the rules and incur penalties and big increases in your interest rate? From Passion to Purpose"From Passion to Purpose" is a podcast that explores the world of nonprofit...Listen on: Apple Podcasts   SpotifyPlease send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com Hosted on Acast. See acast.com/privacy for more information.