Tuesday, September 22nd, 2009 at 3:14 pm
Interest rates for savers are fairly disappointing right now and things don’t look as though they will change very much anytime soon so, if you have a small pot of money looking for a home you might like to consider investing in some premium bonds.
You don’t get any interest at all but the money is guaranteed safe, you might get a nice little win and any winnings are tax free. National Savings And Investments have increased the winnings pot by around 50% giving more opportunities for your premium bond to win a prize.
The odds of winning any prize have improved from October onwards from around 36,000 to one to a much better 24,000 to one. It is estimated there will be around 1.79 million prizes awarded in October 2009 with the prizes ranging from one £1,000,000 prize through to 1,683,024 prizes of £25.
You can read more about the background and workings of premium bonds and the official site is here NSandI
Friday, September 18th, 2009 at 12:31 pm
The news that Baroness Scotland had employed a housekeeper who was working illegally in the UK came as something of a surprise. When you consider that she was working in government when the law was introduced, which required every employer to check the credentials of a prospective employee, and she advises government on matters of law you would expect that she of all people would not fall foul of the law
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She may well have believed she had complied with the law by checking documents before employing this person but the fact that someone as knowledgeable about the law can make an error such as this shows how complicated modern life has become. We are all expected to follow the rule of law but these days there are so many laws and most of us have only the vaguest idea of what their requirements are.
Many people would not consider consulting a solicitor for fear of huge charges but the free community legal advice service offers a telephone helpline offering free legal advice on 0845 345 4345 for anyone on benefits or living on a low income. They offer advice on a range of legal issues but also offer a variety of leaflets and factsheets that might benefit many people who do not fall within the scope of the free legal advice service.
The website offers a lot of useful information and the leaflets cover a range of issues from debt to divorce, renting property to wills and probate and a lot of other areas as well. Well worth a look and a useful website to bookmark for the future. You can see a list of the online documents available here… CommunityLegalAdvice.org.uk
Monday, September 14th, 2009 at 11:02 am
One way of making a little extra income is by renting out a spare room in your house to a lodger. The government has a scheme whereby you are allowed to earn a £4,250 each year, tax free, if you rent out a room and you can find out more here… Rent A Room Scheme
Lodgers come in all shapes and sizes and choose to rent a room for many different reasons from needing accommodation near their work for a few months or as a new start after divorce and the loss of their family home.
Renting a room does not have to mean you are sharing all of your house with a stranger. In many cases lodgers become family friends for life but you have the choice about how much access they have to the rest of the house. They obviously need access to the kitchen and bathroom but you decide if they are allowed to use the garden, the lounge or any other rooms you have.
It is a good way to bring in some additional income to help you overcome your debt problems or just to give you a better standard of life or to build your pension pot and if you have a spare room or two it might be something worth looking in to.
