Ten ways to save money during pregnancy

Ten ways to save money during pregnancyBeing pregnant is and an exciting time in any couple or family’s life, you are blessed enough to have the responsibility of bringing a whole new person into this world. However, the cost of maternity is more than you would guess.

Did you know that the average healthy delivery costs between $5000 to $8,000 dollars, and a few thousand more for a more complicated C-section delivery.Between the Lamaze classes, clothing, regular medical check ups and childbirth and labor you may just find yourself in a tight squeeze even before baby is born. Learn how to cut a few corners and save money during your pregnancy with our list of the top ten tips for saving money during pregnancy. Continue reading

Inter-bank loan rate falls to lowest level in 23 years

Inter-bank loan rate falls to lowest level in 23 yearsThe average rate at which banks lend to each other – has fallen below 1% for the first time since 1986, prompting hopes for cuts in interest rates on personal loans and other forms of credit. Traditionally, the LIBOR rate has been used by many banks and building societies to set the interest rates they offer to consumers.

When LIBOR falls, it effectively means that the cost of funding loans, mortgages and other forms of credit is lower. A loans expert for Think Money said: “Even though LIBOR has been mostly falling in recent weeks, some lenders have actually upped some of their interest rates. Borrowers will hope that lenders begin to cut loan rates in the near future.

“In the meantime, it is still possible to get a good deal on a loan – it might just take a little longer than it may have done in the past. Anyone who is unsure about where to find the best rate should speak with an expert loans adviser.”

More people saving

More people savingThe number of people saving regularly or occasionally increased in June, compared with May`s figures, according to the latest Nationwide Savings Index release.

77% people were saving either regularly or occasionally, according to the latest figures, while 23% reported saving nothing at all – down from 26% in May.

The figures may reflect an easing of the economic pressure faced by many people – or they may indicate a determination to save as a `safety net` against debt problems in the future.

A debt expert for Think Money said: “Saving is an important of financial planning, helping people prepare for unexpected costs that could otherwise lead them into debt.

“However, if a saver already has existing debts, they may find that the money would be better put towards overpaying those debts, since the interest on debt can grow faster than savings interest. Anyone who is unsure should speak with a professional debt adviser.”

Consumer spending to remain weak despite reduced debt risk

Consumer spending to remain weak despite reduced debt riskA new report from Alliance Trust has suggested that consumer spending may remain weak in the coming months, despite improving financial situations amongst consumers.

In the second quarter of 2009, Alliance Trust`s Financial Reality Index – an ongoing measure of consumers` financial wellbeing – showed an improvement for the second quarter in a row, taking the Index to its highest level since the first quarter of 2008.

But Shona Dobbie, Head of Alliance Trust Research, warned that although conditions are starting to ease, consumers remain under “significant pressure” and are likely to rein in spending as a result. Continue reading