Money Central - Times Online - WBLG

e-Poll: Do you plan to cut back on Christmas spending?

Some readers may be appalled that Money Central has dared to mention the Christmas word so early in the year.

But take a walk down any high street and it is already impossible to avoid grinning Santas and twinkly snowflakes. Even mince pies and Christmas puddings are appearning on the shelves.

Retailers seem to be doing everything they can to remind us that Chrismas is not that far away. There is nothing new in that, you might say - hardly a year goes by without somebody moaning that Christmas is getting earlier.

But, this year, don't retailers seem to be trying even harder to instill the festive spirit of consumption in us all even though the autumn leaves have only just started falling.

The state of the economy explains why. Rising unemployment and fragile consumer confidence has left many retailers fearing that this Christmas could be worse than last year. The City and Downing Street were stunned last week as output data revealed that the economy shrank by 0.4 per cent between July and September — an unprecedented sixth consecutive quarter of decline.  Official figures show that retail spending was flat for the second consecutive month in September.

But are retailers right to be worried? Are you planning to cut back on your Christmas spending? Or do you intend to ignore all the economic gloom and splash out with gusto. Vote in our e-Poll and have your say.

The 10 worst retailers for exploiting foreign workers

 

Britain’s major high street retailers are continuing to exploit workers in the developing world and some of the more upmarket chains are the worst offenders, according to new research.

Labour Behind the Label, a group campaigning against sweatshop conditions, surveyed 25 major retailers and found that not a single one paid a living wage to all workers in their supply chain.

John Lewis, Laura Ashley and Clarks are three of the most heavily criticised companies, while Primark and New Look were given credit for their efforts to improve working conditions.

The group surveyed 25 major high street brands and graded them between zero and five for their commitment to giving their workers a living wage. A “living” wage is the accepted term for pay and conditions above the legal requirement of a basic minimum wage, which enable workers to properly feed, clothe, house and educate their families.

Anti-poverty groups say garment-exporting countries are setting their minimum wage significantly below a living wage, in order to help attract British retailers’ push for cheap fashion.

The report says: “The scandalous truth is that the majority of workers in the global fashion industry rarely earn more than $2 a day in an industry worth more than £36bn a year, in the UK alone.”

Five ways to beat the postal strike

An awkwardly-timed postal strike next week is set to bring chaos to Britain in the run-ups to the tax return deadline and Christmas. However, Consumer Focus and Times Money have put together five simple steps readers can take to minimise the inconvenience.

Win £25: Which loyalty card is best?

 

Each Saturday, as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week Francis Treuherz wrote to us. He says: "I have a NatWest credit card account that my wife and I use for as many purchases as possible to accumulate "Your Points". We can use the points as credit for travel through a company called eBookers, which has replaced the previous Air Miles scheme.

"I now have a Tesco credit card that offers Tesco Club Card points in many shops. We want to earn enough points to hire a car or go on holiday. Which card should we use and when? Are there even better loyalty schemes out there?"

A selection of the best responses will be published in Times Money on Saturday Oct 24 with the star answer receiving £25 of vouchers. 

The 10 most popular cars - and the 10 least popular

Japanese cars are amongst the most popular with motorists, while some French cars are “a pile of rubbish,” according to a new survey by Which?, the consumer champion.

The Which? Car owners’ satisfaction table found that the Audi A5 is the most popular car, while Jeeps and Peugeot 307CCs feature bottom in the list*.

Five tips for buying a new car

The new 59 number plates are launched on Tuesday, prompting many to think about buying their next vehicle.

A car is likely to be the most expensive thing many people own, yet millions of consumers are paying over the odds by not doing their research.

A third of people do not haggle on the forecourt, and two thirds do not research new finance deals, according to esure, the insurer. One in twenty motorists plan to pay for their car by simply swiping their credit card, one of the most expensive forms of borrowing.

Here are five money-saving tips for motorists buying a car.

The ten banks with the worst unauthorised overdraft charges

This week David Cameron has called for victims of "unfair" bank charges to be compensated "quickly and fairly" while Nick Clegg has agreed to table a motion calling for automatic payouts if bank charges are ruled unacceptable. 

As the test case on unauthorised overdraft charges goes on, currently being heard in the House of Lords, consumer organisation Which? investigated the banks to see which ones charge customers who go over their unauthorised overdraft limit the most.

The figures below are based on an unauthorised overdraft of £30 for three days, including charges for a £10 cheque on day one, a £10 direct debit on day two and a £10 standing order on day three that the bank pays. The figures do not include interest.

Rank	Bank/ Building Society	Unauthorised overdraft charges	Annual charges for £500 authorised overdraft *
1	NatWest/ RBS	£118	£33
2	Alliance & Leicester	£90	£60
3	Norwich & Peterborough Building Society	£88	£26
4	Co-operative Bank/Smile	£80	£54
5	First Direct	£75	£17
6	Abbey	£70	£28
7	Lloyds TSB	£42	£40
8	Nationwide	£41.50	£40
9	Cahoot	£30	£21
10	Northern Rock	£28	£110

* The annual cost of a £500 authorised overdraft for two weeks a month, assuming customers pay in £1,000 a month.

By Laura Whateley, Source: Which?

The 10 best ways to cut petrol costs

With the most expensive unleaded petrol now at 116p per litre, many readers will be dreading next Tuesday's 2p increase in fuel duty. But there are ways of making petrol go further. Here are Times Money's tips on how to cut the cost of fuel:

Five reasons why gas prices are set to rise

If you think your energy bills are already way too high you'd better stop reading now. There's more bad news on the way, according to Jonathan Waghorn, co-manager of Investec Global Energy Fund, Mr Waghorn lists five reasons why soaraway gas prices are set to rise even higher in the future.

Win £25: Now I commute by public transport can I afford my car?

     

Each Saturday as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week David Robinson wrote to us. He says: "Since starting to commute by public transport I am covering only 2,000 to 3,000 miles a year in my seven-year-old Honda Civic. As the insurance costs seem unrealistically high, I looked at the pay-as-you-drive option, but without success. I also need to be covered for a small amount of business mileage.

"Any suggestions as to what I can do to keep down costs?"

A selection of the best responses will be published in Times Money on Saturday August 29 with the star answer receiving £25 of vouchers. 

The 10 most expensive countries for a pint - and the 10 cheapest

A few pints of San Miguel on the Costa Brava used to cost less than a packet of pork scratchings back home in Blighty. Not this year - thousands of holidaying Brits have been horrified to receive little change from a €20 note at the hotel bar. The cost of a round has soared as the exchange rate worsened. Yesterday, you could get €1.15 to the pound, compared to €1.47 two years ago. However, it is still not the most expensive place in the world to drink a pint. Here is the most expensive, along with the 10 cheapest. The lists are supplied by Pintprice.com, which compiles data submitted by users.

Ten tips to find the cheapest holiday money

The school holidays may be well underway, but the eagerly awaited British barbecue summer seems to be all but over. If you are planning a last minute trip to sunnier climes, or intend to spend August bank holiday abroad, make sure you know how to get the very best deal on your currency before you jet off. Here are a few tips from Times Money.

Win £25: I feel my friends have ripped me off, what should I do?

   

Each Saturday as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week Jason Gallagher wrote to us. He says: "My partner and I were invited to spend a week with another couple, who have been close friends of ours for some time, in their holiday home in Spain. We were delighted to accept and had a wonderful time. But on our return home we received an e-mail listing money we owed them: half the cost of gas, electricity and the cleaner, plus money towards car hire (they drove us to the supermarket and beach during our stay). While we were in Spain we split the cost of food and drink, and took them out for a nice meal on our final night to say thank you.

"We paid up for fear of appearing rude, but now feel slightly aggrieved. Should we say something?"

A selection of the best responses will be published in Times Money on Saturday August 15 with the star answer receiving £25 of vouchers. 

Would you like a free financial makeover?

Do you need a financial makeover?

If so, Times Money can help. Whether you have questions about debt, your mortgage, investments or planning for retirement, we can offer free advice from three experts on all aspects of your finances.

After considering your current situation and taking into account your short and long-term goals, our panel of experts will provide you with three different action plans.

If you would like a money MoT and are prepared to disclose your income and be photographed, email your details including your phone number to moneymot@thetimes.co.uk or write to Money, The Times, Times House, 1 Pennington Street, London, E98 1TB.  

Some examples of money makeovers:

Money MoT: How can I ride out the recession?

Money MoT: Help me to deal with job insecurity

Money MoT: All at sea about sons' future

Money MoT: Slow starter faces race against time

Money MoT: How to invest ethically

Win £25: How can I track down my ex and close our account?

  

Each Saturday as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week Alan Sale wrote to us. He says: "I opened an NS&I joint income bond in 1989 with my partner of the time. The income is paid monthly to a joint HSBC account. We have gone our own ways and I have no idea how to contact her. However, I cannot close the bond without her signature so the income continues to go to the HSBC account.

"I would like to be able to close both accounts. I have had no joy with NS&I and have even paid for legal advice, to no avail. An added problem is that she is Australian."

A selection of the best responses will be published in Times Money on Saturday August 8 with the star answer receiving £25 of vouchers. 

The 10 most reliable new cars - and the 10 most likely to go wrong

 

Honda, the Japanese manufacturer, produces the most reliable motor cars, according to a new study by Which?

The consumer group surveyed more than 84,000 drivers to establish which new cars suffered the fewest breakdowns, faults and niggles. Honda was the clear winner with four of its models in the top ten.

The Honda Accord, which sells for just under £20,000, came top with a reliability rating of 98.5 per cent, while the Honda Jazz came a close second with a 98.2 per cent.

At the other end of the scale, the Audi A5 was rated the new car most likely to go wrong, scoring just 75.8 per cent for reliability, putting it bottom of the 121 models reviewed. Owners of the coupe reported significant problems with its electrics.

Here is the top and bottom ten in full.

Ten tips to avoid a huge mobile phone bill on holiday

Taking your mobile phone abroad can be costly- last summer Iayn Dobsyn, an IT contractor from Manchester, was sent a bill for £31,000 from his mobile provider after downloading one episode of Prison Break while on holiday in Portugal.

Here are ten tips to ensure you don't suffer a similar fate this summer.

The 10-point plan to the perfect letter of complaint

The Financial Services Authority is pushing ahead with plans to force companies to publish complaints figures every six months, with those who receive the most complaints having to reveal the percentage resolved within eight weeks.

But consumers will have to wait until July next year to view the first set of figures. In the meanwhile, Times Money has decided to name and shame the five companies it receives most complaints about.

If dreadful customer service drives you mad, don't just accept it, follow our ten tips to write the perfect letter of complaint. 

Win £25: I've been sent a stack of weird books. What should I do?

           

Each Saturday as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week Julia Downer wrote to us. She says: "I ordered a few out-of-print paperbacks for my daughter through Abebooks.co.uk for £7.99. However, I was sent quite a quantity of bizarre other books instead. To obtain a refund, the weird books had to be returned, which cost me £8.65.

"However, Abebooks.co.uk allows only the original postage paid to be counted towards the additional postage, so I am down £2.97 on the transaction and have had to pack up books and queue at the the post office.

"What should I do?"

A selection of the best responses will be published in Times Money on Saturday June 20 with the star answer receiving £25 of vouchers. 

The 10 best online discounts

 

The internet is a great source of special offers and discount vouchers, but rooting around for them can be a hassle. Here Times Money has rounded up the ten best current deals on everything from clothes to chocolates and flowers. Please post links to other discounts you recommend in the comment field below.