The recession has bitten hard into the confidence and budgets of consumers and has reflected itself in recent research that has indicated that 1 in 5 Britons plan to spend less this year at Christmas. The survey, published by Gfk NOP, covered 1,000 adults and also indicated that just 1 in 10 plan to spend more on gifts this year compared to last. The study implies that we will all be spending around 15% less this Christmas compared to last – a sure sign that we are all far more cost conscious and concerned that times are still tough.  Read more... (475 words, 1 image, estimated 1:54 mins reading time)

Writing the perfect Letter of Complaint
If you want to write a letter of complaint, follow MoneyTowers.com’s ten step plan to help you write a perfect complaint letter.

1. Be Clear
Be clear about the facts behind your complaint letter and also what you would like out of it. The company in question will find it hard to help you if your letter is confusing and it is unclear as to the exact nature of your problem. Be clear as to what you are expecting as a result of the letter – an apology? Recompense?  Read more... (560 words, estimated 2:14 mins reading time)

5 ways to save £50 a month

The news is full of articles on the recession – the lack of jobs, the rising levels of unemployment, the cost of pensions and the lack of savings. So now is a fantastic time to start saving. Here at MoneyTowers, we have put together five quick tips to hep you save £50 a month.  Read more... (425 words, estimated 1:42 mins reading time)

What Is a Credit Score?

A credit score is a way for lenders to decide how much of a risk they are taking by lending you money. The actual credit scoring system used will vary from lender to lender and different companies will have different attitudes to risk – so although one company may reject you for credit, another may be happy to give you a credit line.

It is a myth that there is a universal credit rating or a credit ‘black list’. However if one company believes you are too high a risk and won’t lend you money, it is highly likely that many other companies will take the same view.  Read more... (1280 words, estimated 5:07 mins reading time)

If you are looking for someone to help advise you on what best to do with your money, chances are that you’ve considered using an Independent Financial Advisor (IFA). However it is important that you choose a good IFA that can advise you well on your financial situation to ensure that your money works best for you and your circumstances.

But how do you go about finding out which IFA will advise you best? The team at MoneyTowers.com have put together five questions you should ask when meeting your IFA for the first time.  Read more... (489 words, estimated 1:57 mins reading time)

Payrises are hard to come by in today’s climate, however if you don’t ask you don’t get! Here at the MoneyTowers team’s Top Ten Tips for getting a pay rise.

1. Persuasion

You can’t force your boss to increase your pay and trying to be forceful can potentially damage your working relationship. Instead, be tactful and let him know the ways that you have helped the company out – maybe through cost-cutting or efficiency measures – and use this as a base for why you should get a payrise. It also pays to do your research. Look out for job adverts for similar jobs to yours and use this as a base for how much you feel you should be paid.  Read more... (796 words, estimated 3:11 mins reading time)

Chip and PIN cards were introduced in 2004 and were touted as being virtually infallible and therefore a way to cut the levels of debit card fraud significantly. Before chip and PIN, data on cards was stored on a magnetic strip on the back of the card which could easily be skimmed. With the advent of chip and PIN, a microchip is used to store data and this method is said to be much harder for the data to be skimmed as a four digit PIN is required for transactions.  Read more... (604 words, estimated 2:25 mins reading time)