Because money matters
Ruth Jackson
Personal Finance expert
Homepage: http://www.moneycitydirect.com/
Posts by Ruth Jackson
Regular Savings accounts examined
Apr 2nd
Regular Savings accounts offer some of the highest rates of interest on the market. However, the headline rate of interest advertised comes with several conditions. Here we look at the rules commonly governing the typical Regular Savings account, and the implications of these stipulations. More >
How to remortgage your home to release equity
Feb 28th
House prices have increased dramatically over the past decade or so, even when you take into account the recent slump in the property market. This has left a lot of people with houses that are worth a lot more than their mortgage amount. You can use this disparity to release the equity in your home. All you have to do is remortgage it for a higher sum than your previous mortgage, and you can use the leftover cash for whatever you want. In this section, we tell you how to remortgage your home to release equity. More >
Instant Access Savings: The basics
Jan 14th
Instant access savings are a no-hassle savings product that won’t limit access to your cash when you are trying to save money. Here we examine the trade off between the features of instant access savings when compared to other savings products, such as the balance between the convenience of instant access and the interest rate you’ll receive on the funds deposited. More >
How to use credit cards effectively
Nov 5th
Credit cards have a bad reputation, but in fact they can be one of the most sophisticated ways to borrow money. There is a wide variety of credit cards on offer to suit just about any customer taste. If chosen well a credit card can substantially help a person’s financial situation. This article walks through a few of the types of card available. More >
Fixed rate mortgage advice
Sep 21st
In some circumstances, a fixed rate mortgage can work out a lot cheaper than the equivalent tracker rate mortgage. A fixed rate mortgage also gives you a guarantee that the payment will stay at the same level for a certain period of time, which makes them easier to budget for, and gives you more peace of mind. In this article, we describe the circumstances under which a fixed rate mortgage would be a better bet than a tracker mortgage. More >
How Savings Bonds work
Sep 18th
Savings bonds are of mutual benefit to the banks and the saver. The banks get a guarantee that they’ll get to hold on to your money for a fixed period, and the saver in return receives some of the highest rates of interest currently available amongst savings products – with this interest rate fixed. Here is how savings bonds work. More >
How to switch mortgage
Aug 27th
If you have a mortgage that seems a lot more expensive than the ones that are currently being offered by other lenders, then you could save a lot of money if you switch mortgage providers. However, switching your mortgage can entail a lot of hidden costs, so you have to weigh these against any potential savings or benefits when you switch mortgage. In this section, we explain some of the reasons why you may wish to switch mortgage providers, and detail the hidden costs that you have to watch out for when you do so. More >
Mortgage calculator
Aug 7th
Working out how much a certain mortgage could potentially cost you used to be a very time consuming business, involving complicated calculations and compound interest tables. Thankfully, this process has become a whole lot easier in recent years, thanks to the easy availability of the online mortgage calculator. In this section, we take a look at how you can use a mortgage calculator to help you work out various potential financial scenarios, and give you some advice as to how to choose an appropriate mortgage calculator. More >
Mortgage comparison websites
Jul 29th
Mortgage comparison websites provide an easy way for property buyers to find the best mortgage deals. They work by arranging all the important data regarding mortgage offers from different providers in a table format, so that you can search, sort, and filter the results to make finding appropriate deals more easily. Here, we explain how mortgage comparison websites work, and give some tips on how to get the best out of them. More >
National Savings: As secure as government finances
Jul 16th
National Savings products are a way for the government to raise cash for public spending. Provided by HM Treasury, National Savings products have one unique advantage over the all other banking products provided by the private sector, and this is 100% security for customers money, regardless of the size of the sum invested. More >
What is an overdraft?
Jul 5th
An overdraft can be a very useful financial tool but should be treated carefully. What should be remembered is that there are two types of overdrafts, authorised and unauthorised overdrafts. The difference between the two can be quite expensive. More >
How personal loans work in real life
Jun 28th
Personal loans are loans that are given to a person, and they are usually not secured. That is a personal loan is secured on a person rather than a house or a car. Personal loans are about trust and responsibility and can vary dramatically. More >
A summary of popular Savings products
Jun 12th
There is a competitive market of savings products at the moment, provided by banks keen to hold and invest your money for a while. Even with the low base rate of interest there are plenty of options for developing savings. The type of savings product that will suit you best depends on your financial circumstances. Here is a summary of some of the most popular ways to build up savings. More >
Secured loans
Jun 7th
A borrower can borrow more for less with a secured loan. Secured loans can be a very flexible way of raising money for a car or home improvements. They can also help to sort out a person’s finance. Secured loans are loans that are secured against a property but they can be secured against other assets such as land, cars or works of art. More >
Store cards
May 31st
Store cards are credit cards that are provided by stores, but this can also include brands such as airlines. They tend to have higher interest rates but some of the best rewards on the market. They also are some of the easiest credit cards for many people to get. More >
The advantages of Online Banking
May 22nd
Online banking is increasingly popular, and this trend looks set to continue. For those that have yet to embrace this new way of doing things, in this article we look at some of the benefits of managing your finances through online banking, while perhaps dispelling some misapprehensions about the limitations of this method of banking. More >
The benefits of Childrens Saving Accounts
May 15th
There are a range of children’s saving accounts on offer, and as well as fulfilling the obvious function of providing growth for your child’s savings, the process of selecting and monitoring the performance of children’s saving accounts can provide a good introduction to managing money. More >
The benefits of saving in a Cash ISA
May 8th
Did you know that that interest gained in standard savings accounts is taxable? Here we explain the tax-free benefits of saving in a Cash ISA, along with the rules on annual limits and how they are reached, and the ongoing status of funds in a Cash ISA once the financial year ends. More >
The lowdown on Fixed Rate Savings
May 1st
Fixed rate savings offer a set rate of interest, usually for a specified time. For many fixed rate savings products, there are also other conditions, such as promising not to touch the money deposited for a certain length of time. Here we look at the way fixed rate savings deals commonly work. More >
The notice account: Good interest comes to those who wait
Apr 21st
If you have already used your ISA allowance for the year and have additional funds to save, a notice account can be the next best thing for achieving maximum growth for your savings – as long as you won’t need to access the money in a hurry. The rules governing withdrawal from the typical notice account are explained here. More >
Tracker mortgage advice
Apr 15th
In times of low interest rates, a tracker mortgage can seem to be the most cost-effective way to borrow the money that you need to buy a property. However, taking out a tracker mortgage during a recession may not be the wisest strategy in the longer term. In this article, we explain how tracker mortgages work, and look at the various pros and cons of this type of mortgage. More >
Using a joint mortgage to get onto the housing ladder
Apr 9th
These days, it can be difficult for an individual to get a foot on the housing ladder, as property prices have soared over the last couple of decades. However, if you are able to combine your resources with a partner or a friend, then you can take out a joint mortgage on a property, which will enable you to get a much bigger mortgage than you could otherwise afford. Here is a guide to some of the advantages, and potential pitfalls, associated with taking out a joint mortgage. More >
