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Saving money by switching energy suppliers

Money news round-up

As excuses for not completing your tax return go 'I couldn't file my tax return because the wife saw aliens’ really has to be up there with the most bizarre. This, along with others such as ‘I spilt coffee on it’, were revealed this week as some of the poor excuses given for missing the end of the month deadline. But what else were we talking about in the money world?

1. Can you recognise a scam?

80% of over 2,300 people surveyed for the Take Five to Stop Fraud campaign said that they could confidently identify a scam email or text. Yet in a separate test of over 63,000 people, less than one in 10 scored full marks in the Take Five Too Smart To Be Scammed? quiz.

2. Enjoying the high life

Life insurer SunLife have revealed that the majority of over-50s would rather keep hold of their money and spend it now instead of passing it on. Although 62% said the money was ‘there to be spent’, it seems the kids don’t mind; as only one in ten think that their parents are being selfish by not keeping it for them.

3. Car insurance costs set to rise again

The cost of car insurance is already up from the end of 2016 and is only set to get higher. Prices are currently up 8% but are set to reach £900 by next year.

The average, according to Confused.com, is now £827, with the biggest hikes in prices last year being in Scotland where premiums rose 17% in the border region, 13% in the north and east, and 11% in the Highlands and Islands.

4. Why we need to switch

Failing to switch energy supplier has cost millions of households more than £1,500 over the past six years.

In a YouGov poll, 33% of people say they do not see the point of switching because they believe all suppliers are the same yet, there’s a possibility of saving up to £300 a year by doing so.

And finally…

The key to happiness is apparently us having an extra £508 a month. A survey of 2000 revealed that fretting about finances prevents 68% of us from achieving true happiness. More money = happiness, who would have thought!

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