Cashback websites are fantastic ways of making money on things you were going to buy anyway. With little effort, you can get as much as 6 percent back on your purchases – and this is a large amount if you are spending on something like a holiday.

Cashback websites make their money by earning commissions on any sales by referred customers or by on-site advertising. Some websites, such as Quidco, will pass on 100% of the commission they make to you in return for a small annual fee (in Quidco’s case, they charge a £5 annual fee and this is taken off the first £5 cashback that you earn).  Read more... (416 words, 1 image, estimated 1:40 mins reading time)

A rare Royal Mint error has let hundreds of 20 pence coins be released into circulation without dates on them.

The 20p has recently been redesigned thanks to the unwritten rule that coin designs should change at least every 40 years to keep the coinage fresh. The new design sees the year date being moved from the tails side of the coin to the side with the Queen’s head.

However somewhere quality control slipped up and a ‘mule’ design was let into circulation. Accidentally, thousands of 20p coins were minted using the old version of the ‘heads’ side, leaving coins without dates printed on them.  Read more... (164 words, estimated 39 secs reading time)

Many people are currently looking at ways to maximise their earning potential without giving up their current jobs. With the numbers of people saving money each month falling dramatically, it is no surprise that so many people are looking at alternative ways to make some cash.

To help, the team at MoneyTowers.com have come up with seven ways to make cash in your spare time:  Read more... (660 words, estimated 2:38 mins reading time)

A few years ago, making money from credit cards was relatively easy – many credit card providers had 0% deals which lasted for a long time and many people took up the offer, withdrew up to their credit limit on the card and put the money into a high interest savings account for the duration of the introductory period. When the 0% deal ended, they switched to another card with a 0% introductory deal and repeated the process, netting lots of interest in their savings account.  Read more... (685 words, estimated 2:44 mins reading time)

Inflation is something that has been talked about a lot recently, but what does it actually mean? Inflation is important when looking at savings and retirement funds because it gives a good indication of how much money one really does need to have in the bank before you can retire safely – £10 now will not have the same worth as £10 in 20 years time. Inflation really is just an indicator of purchasing power.  Read more... (260 words, 1 image, estimated 1:02 mins reading time)

It’s a question that is often asked: “How long until my money doubles with an x% interest rate?”. Well, assuming that you are not adding extra money to the investment and the interest rate stays steady, it’s a fairly easy calculation. Obviously, the higher the interest, the quicker your money will double. This is what the ‘double your money’ table looks like:

 Read more... (307 words, 1 image, estimated 1:14 mins reading time)

Teach them young and get them into good financial habits early, and it’s more likely that your children will grow up to be financially savvy. Starting their savings young can also be a big bonus for them when they reach adulthood – the money can go towards things which they need which they may not otherwise have been able to afford, such as a new car, university fees or a deposit for their first house.

Getting children involved at a low level is an excellent thing to do – school-leavers currently are not taught financial planning and know little about interest rates and credit and so often will not make the most of their finances.  Read more... (942 words, estimated 3:46 mins reading time)