You’ll be financially exhausted after a down payment or deposit, finalising all your bills from your previous property, not to mention all the odds and ends that you forget you will need upon moving in.

So if you’re moving home soon and you need to pinch the pennies, here are a few tips for moving on a budget.

When putting your place on the market, try using word of mouth via your friends, family and colleagues. You will need to hire a lawyer or estate agent to deal with the legal proceedings but you can advertise your property by yourself.

There are also many free, online sites where you can arrange for people to come to viewings, and buyers can express interest in your property. Letting agencies can charge thousands for this every month that your property remains on the market.

Image via Alan Cleaver

If you can, try to get a few days off work at the beginning of the week in order to get the best possible price when it comes to choosing a mover. There are many moving services on the market and they will be cheaper Monday – Thursday if you are flexible on your moving date.

If you are moving to a furnished property, keep hold of little bits and pieces. Garden tools, kitchen utensils, even the kitchen bin! Hold on to as much as you can fit into the movers lorry or the back of your car.

Don’t assume that because it is furnished it will have pots and pans, cutlery, glasses etc. If they fit in the van, take them with you, you can get rid of them once you arrive at your new pad if they are included.  Sometimes boxes are included in the price of your removal, but most local supermarkets will give you them for free, never pay for them.

If you are moving from a rented property, always put aside a few days to thoroughly scrub the place, inside and out, to ensure you get your full deposit back from the landlord.

On the other hand, if you are moving to an unfurnished property, it’s a good idea to hold a car boot sale to sell off some of your unwanted goods and contribute to the moving fund at the same time.

Try putting old clothes, shoes, books, DVDs on EBay or even put a mention up on Facebook with a picture, there is always someone who will find a use to the belongings you no longer need.

It’s too easy to call in a Chinese takeaway or nip out to the local shop and get a ready meal, but doing this every night as you pack/unpack can be a strain on your wallet. If you have a big freezer it’s a good idea to cook up a few big meals and reheat them to snack on whilst you’re grafting. Things like lasagne, chili con carne or stews go a long way, and will stop you from spending a lot of money on convenience food when you have already packed away the kitchen utensils!

Do you have any top tips for moving house on a budget? Don’t forget to share them with us in the comments box below!

The content within this article is for information purposes only and should not be used to make any financial decisions.

At the tender age of 23 years old, I still can’t believe that I am thinking about this already – retirement.

Image by Horia Varlan

There are several ways you can save for retirement: either through a company or personal pension, or via investments, bonds or traditional savings.

An old-school company pension is where your employer takes a cut of your pay and puts it into a fund. It’s not linked to investments, so you are pretty much guaranteed a steady income when you retire.

However, such pensions are expensive to run and as a result are getting quite rare. It’s more likely you will be contributing to a pension scheme that does involve investments in some shape or form.

With an investment pension, you basically contribute a set amount of money each month to an investment fund manager, who (you guessed it) invests your money in promising stocks and shares to get a decent return.

This can be organised through your employer, however unless they’re making a decent contribution themselves, it’s always a good idea to have a sniff around elsewhere.

You can get individual pensions or investment ISAs, which offer thousands of funds to choose from. Just remember to do plenty of research to ensure that the fund you choose will work hard for you.

Okay, okay, I know what you’re thinking. “Shares and investments” has become a bit of a dirty word since the huge crash a couple of years ago, but in reality the stocks ‘n’ shares route is still a pretty solid way to deal with your money long-term. You can expect to gain about 2-3% every year on top of inflation, and while it’s not as big a return as the 9% or so that was expected pre-bust, it’s certainly better than a kick in the teeth.

The alternative to shares is bonds, where you lend your money to governments and companies, and in return they pay you interest. However, after running costs are deducted, your gains will eventually struggle to keep up with inflation.

The lowest risk investment out there is inflation linked savings accounts, however, remember to keep a separate emergency saving account in case you need quick access to some cash.

However, remember that your pension isn’t the be-all and end-all – it’s worthwhile to check out life insurance quotes to see if you can leave something behind for your loved ones after you go.

So now that you’ve decided how to save up for your golden years, how does your strategy shape cup compared to the rest of the UK? This infographic from Confused.com reveals how Brits save up for their retirement:

Brought to you by Confused.com – Find yourself a great savings account

How do you plan to save for retirement? Let us know in the comments section below.

All mortgages are not created equal and getting a great deal with a favourable interest rate can save you a lot of money over the life of the loan.

There are many different mortgages to choose from, so how can you be certain that you are getting the best rate available?

by Flickr's '401k'

Here are some tips for getting a better deal on your mortgage:

Improve Your Credit Score

Did you know that the higher your credit score the better deal you will likely be offered on your mortgage? If you have a bad credit score, improving it will help you snag a mortgage with a great interest rate. To make your credit score excellent, pay all of your bills on time and don’t use more than 30% of your credit card limit on a regular basis. Also, avoid numerous credit inquiries such as applying for too many credit cards which can also affect your score. If you are making large purchases in the months before you apply the lender might question whether you will be able to make all of your payments.

Make a Bigger Down Payment

Save up as much money as possible to make a down payment on the home. One of the factors that determine the interest rate on the loan will be the ratio of the loan to the overall value of the house. The more you pay up front, the more equity you will have in your home. Since the loan is a lower risk for the lender they will reward you with a lower interest rate.

Use a Mortgage Broker

Sometimes it can be advantageous to seek the advice of a mortgage broker, who will help you compare the different products from a variety of lenders. However, make sure that you come to an agreement about their “fees” before you begin, as some will charge you for their services and depending on what they charge you may not actually make a saving.

Just Ask for What You Want

When you are comparing the different mortgages available, ask the bank to put their best offers in writing. Then you can go to the next bank and show them the offer from their competitor. Ask them if they can beat that offer and win your business. You can also ask them if they have any special offers available. Don’t be afraid to haggle with your bank, as sometimes this technique will work and it never hurts to ask.

Do you have any tips for choosing the right mortgage? Tell us in the comments below.

Since the recession hit, banks have not only been bailed out, but they have also been punished for their failings in everything from inappropriate investment advice to the infamous Payment Protection Insurance scandal – which saw many consumers mis-sold insurance packages that they were ineligible for.

Pic: Images_of_Money

They’ve also been the target misguided public frustration. Banks have been unfairly used as an excuse for civil unrest and criminal behaviour – the London riots in the summer of 2011 were a perfect example of this.
A rioter was asked why he was taking part in destroying a private retail property, he said: “because of the banks.” To most, it’s quite obvious that there is zero correlation between the two, it was just an excuse to misbehave.

Like all businesses banks don’t always get it right,  and as a customer facing institution they will be told about their failings promptly and in abundance when things do go wrong.
According to the BBC, financial institutions were complained to more 12,000 a day from July to December 2011. Many of these complaints are still founded from unresolved PPI claims. The subsequent fines from these complaint given by the FSA are a real signal to all financial institutions that prevention is the best method for tackling any future mass wave of complaints.

The Financial Ombudsman Service has had to bear the brunt of hundreds of thousands of unresolved complaints relating to PPI and ‘unfair’ investment advice. The amount of potential compensation for the latter can be significant so it is important to know that the process of sharing your complaint between your bank and an independent service is as seamless as possible.

The reality is that is that no matter how valiant the banks efforts may be in prevention, complaints trend because banks, like consumers and the rest of retailers, are not perfect but what they can do is try to make the whole process as painless as possible.

Dealing with complaints

They like us, aren’t spending like they used to, and my guess is that it’s document management software  that is making these processes smoother for administrative teams.
‘Cost efficiency’ and ‘adding value’ or just two buzz phrases that have married up since the credit crunch – so it’s a no brainer that the tighter the budgets banks are faced with, the more they tie nicely with business software solutions.
Streamlining these processes means that they should be able to deal with these situations much faster and once again we can all be satisfied customers.

Thankfully trust in the banking industry is returning, and this is, in part, because they take responsibility for their actions and that they recognise the every-day customer, you and I, as a vital part of their ongoing business.

It’s spring and the dusting has commenced so why not spring clean your finances too? There are lots of ways to do this so get out your notebook and make a few notes, we have some great tips for you right here on Cashzilla…

Tidy work environment by Simon Zirkunow via Flickr

Visit your bank

Call your bank and arrange an appointment with an advisor. It should be free if you are an existing customer. Ask them the following questions about your banking and you could really clear up some things that may have been troubling you or see areas where you could be saving money:

• What are the perks of my current bank account and what haven’t I been using that could help me?
• Since the last time I came here to set up an account, my financial situation may have changed, should I consider changing accounts to something better suited to my present financial situation?
• How could I be saving more?
• What goals can I set for myself by this time next year that the bank will reward me with i.e. depositing my savings before the end of the financial year for tax free savings?
• What are you offering me that another bank can’t?

These questions will really help you understand the full range of benefits of your bank and what you could be doing to improve your current financial situation.

Using the Internet

You can make sure that you are always well ahead of the curve by making the most of your broadband and digital tools like online banking and online data storage with all your accounts and bills kept on file to access anytime, anywhere. Price comparison sites are one of the most valuable online resources that you use to get the best deal for your money and spring clean your expenditure this year.

The Plusnet community blog recently blogged about saving money and organising your finances online. They spoke to Jamie Gibbs of Confused.com who gave them tips to help you find cheaper insurance premiums using price comparison websites. He told them:

1. Pick up the phone

Jamie said:

“Many insurers have an Internet-quote matching policy, or at least allow for some sort of discount to be given. Exploit your brand loyalty and see if anything can be knocked off the price without the hassle of having to switch insurers.

“The best time to do this is a few weeks before your renewal date. This means you can usually dodge any cancellation fees and it puts the most pressure on them to offer you a good deal and keep you sweet. Make sure you have your quote reference number to hand, as well as the prices of the best deals and with which companies. Having hard numbers to hand will help you negotiate a better deal than just saying ‘give me a discount!”

2. Be Honest

Jamie told us:

“Different companies use the information you enter in different ways, and this can affect the price that you pay for insurance. One of the most common examples is your job title: Saying that you’re an ‘Office Manager’ may result in company X giving you the best price, but change it to ‘Manager – Office’ and company Y gives you an even better deal. Making slight alterations to your quote to find the best price is called ‘quote massaging’ and, although it gives you breathing space to find yourself the best deal, you could end up in hot water should you abuse the system and accept a quote based on false information. Being accurate and honest is always your best bet, as it’ll make sure you get a decent and fair price to pay.”

3. Look Before You Leap

Last but not least, Jamie gave us this tip:

“So you’ve entered all of your details and you get to the results page. Hitting the top spot by quite a long way is a deal that looks too good to be true. Hold on before clicking ‘Buy Now’ and take a look at it; a really good look. Some companies may offer stripped-down, no-frills products in order to snag the coveted top spot of the comparison results, so you will likely be getting what you pay for, which might not be much at all. Look at a few different offers and compare the benefits e.g. courtesy car, breakdown cover, as well as the price. Go with what suits your needs as well as your budget.”

Get your financial house in order

Check out the video below to see how you can get up to scratch on all your finances.

That’s all. Tell us how you are spring cleaning your finances by commenting below. You can also talk to us by tweeting us or writing on our Facebook wall!

With only a limited amount of time left remaining in this tax year, Cash ISAs are the talk of the town at the moment – and so they should be.

Interest base rates sit at an all-time low which means finding high interest rates on your savings is hard to come by. Hopefully this guide will help convince you Cash ISAs are worthwhile.

Image Via images_of_money

ISA stands for Individual Savings Account. An ISA differs from a normal savings account as the interest gained isn’t taxed. With a normal savings account, basic-rate taxpayers have to give 20% of the interest to the Government while this percentage shoots up to 40% for higher rate taxpayers.

You have to be aged 16 or over to open a Cash ISA account and the financial year runs from April to April. Each financial year, an individual is allowed to put in a maximum of £5,340 cash into an ISA account. If you don’t use the full allowance, it will not be rolled over to the next year.

It’s important to spend time finding the right Cash ISA that suits your situation as offerings differ; the last thing you want is to be restricted access to your savings when you need it.

First thing to do is to decide how much access you really need to your savings. Some offerings penalise you for taking money out of the account, while others need a months’ notice. If you do need frequent access or would like that safety net, Easy Access Cash ISAs are perfect. Offering great flexibility, this account normally allows you to withdraw money freely without incurring penalties, just like a day to day bank account.

Withdrawing money will mean losing some of your £5,340 allowance however. For example, you have saved £1000 in your account, you withdraw the £1000 so your new allowance is reduced to £4,340.

On the other hand, if you are saving for the long term and don’t need access, fixed Cash ISAs are best. Although your money is locked for a number of years, you do receive a higher interest rate than Easy Access ISAs in return. The number of years you can choose from varies between 1-5 years. The interest rate increases if you choose to save for a longer term.

Bonuses are another aspect to take into consideration. You may think you’ve seen a great interest rate, chances are it’s a short term bonus. What this means is for a short period of time, the bank will inflate the Bank of England base rate, 0.5% at the time of writing.

For example, a bank may give a bonus of 2.5% interest, meaning their account offers 3%. However, this will usually be for 12 months only, after the second year the interest rate returns to the Bank of England base rate. There is of course nothing to stop you from changing after the 1^st year to another bank, many people do this, but it can save the hassle choosing one without a bonus rate. It can be easy to forget after a year.

With only 23 days left make sure you use the £5,340 allowance. For further information on the best current rates, Money Saving Expert and This Is Money have frequently updated tables to compare the current market.

Do you think ISAs are a good way of saving for those rainy days? Tell me what you think in the comments below.

In this, the fifth in our series of business case studies we are focusing on Sirdar Spinning, a Wakefield-based producer of branded yarns and designs for hand knitting in the UK.

Sirdar Spinning,  the leading producer of branded yarns and knitting designs within the UK was founded in Ossett in 1880 as Harrap Brothers, and Sirdar moved to its present site in 1890. The Sirdar name was adopted in the early years, honouring Lord Kitchener’s appointment as Sirdar or leader of the Egyptian army. It currently employs more than 120 people
and has a £15 million turnover.

With great experience and understanding of their industry the organisation went through a management buyout. The £3 million deal was funded by The Royal Bank of Scotland and RBS Invoice Finance  and assisted by RSM Bentley Jennison. Mark Heyes led the Invoice Finance team for the MBO, working closely with Peter Smith from the RBS Structured Debt Solutions team. Together they created a landmark bespoke deal consisting of stock funding and working capital facilities.

The MBO was led by Managing Director Russell Morris and Finance Director Ian Stead. The pair have acquired the entire share capital from Sirdar PLC.

Russell Morris had this to say about the process and the future Sirdar Spinning:

“We are looking forward to working with all of our employees to drive the business forward and build upon the growth and success that we have already achieved. We are very grateful to both RBS for the funding line it has put in place and the work done by all parties in concluding this deal in a timely and professional manner.”

Overall the deal has proved very successful for those involved. With future growth planned out things are looking good for Sirdar Spinning. Mark Heyes, Associate Director, RBS Invoice Finance commented:

“We are delighted to have helped Russell and Ian take control of the business. Not only do they have considerable experience in the industry but great ambitions for the future and we were seriously impressed with their vision and enthusiasm for the company. We look forward to continuing working with them as their plans unfold.”

Sirdar Spinning is now in a great position to grow and increase its market share through expertise and knowledge as well as a little help from RBS.

Do you know about a similarly sized business weathering the economic storm? Maybe you’re in a similar position? Tell us your experiences in the comments below.

Even if you fail to understand exactly what is going on, the crisis in the eurozone is never far from the news at the moment.

It is worthwhile to dig a little deeper into the issues, and consider how they will likely affect the financial landscape in the wider world over the coming months.

Image: Images_of_Money

Greece

Stories centred around Greek debt that have dominated the news. First there was the dramatic installation of an ECB stooge at the head of the Greek government, which is newsworthy in and of itself (especially considering that Athens is the birthplace of democracy). This has been followed by continued unrest in the Mediterranean country as mass protests have erupted against the austerity measures that have been imposed in a desperate bid to reduce Greek debt to a manageable level.

There have been dramatic pictures on the television of rioting and protest. These have been accompanied by stories of the hard times that the Greeks are enduring, with unemployment running high and cuts to the minimum wage that have plunged many into poverty. The question has been asked about whether this suffering is even in a worthwhile cause – with critics suggesting that the measures are proving damaging for the Greek economy.

What’s it all been for? The goal of the latest austerity measures to hit Greece was to ensure that they would meet the criteria for a further bailout. The fear was that if they could not then they would have to go bankrupt and leave the euro, which could have wide ranging implications.

One Crises Averted

The Greeks eventually made it to the bailout bus.  What has been termed a ‘disorderly default’ has been averted – in the short term at least. The bailout will not be without its cost outside of Greece however.

Debt is not just an abstract concept, it is a product. The debts of Greece will have been part of the investment portfolios of all kinds of individuals and institutions. Even if you do not have large scale personal investments, if you are invested in a pension fund then there is a chance that you could be  affected by the debt write down that was part of the deal.

• Participants in the private sector involvement (PSI) agreed to take a further hit and accept an increased 53.5% write-off on the value of their Greek bond holdings.
• Member states sponsoring Greece’s two bailout packages agreed to reduce Greece’s funding cost by a half to 1.5 percentage points.
• The European Central Bank (ECB) will hand any profits made by holding Greek bonds over to the member states, who have committed these profits to Greece.
• The IMF will reportedly only contribute less than a third of the funds, smaller than its share of the first Greek bailout. However, member states committed to a total bailout amount of EUR 130bn, regardless of the IMF’s involvement.

Via Adam & Co

Many are now suggesting however that the writing is on the wall for the Greek membership of the euro. The temporary crisis is over, but whether Greece will be able to stomach further austerity measures without descending into a state of near civil war is a subject  of debate.

According to financial planning specialists Adam & Company there are a number of dangers that lie ahead. First of all there is the prospect of further credit rating  downgrades in other European countries. This could risk spreading the crisis further. There is also the possibility that the new EU treaty will be nixed by some of the member states – the French elections in April are thought to be a key turning point for that.

The main dangers however revolve around Greece. The possibility of a Greek hard default already has markets twitchy, and the more likely it seems the worse it is likely to get. There is the very real possibility that Greece will have to leave the eurozone – which then raises the ultimate spectre: the eurozone breaking up entirely.

Do you think Greece will leave the Eurozone and cause its collapse? Do you have business interests in Greece which have suffered? Let us know in the comments below.

Source: @mmgeissler / via: @Alex_Ogle via Buzzfeed.com

Portions of Athens’ city centre are now in ruins after rioters burnt down historic buildings and vandalised shops in protest over planned austerity measures. After days of fierce debate, the Greek Parliament voted to approve the austerity package Monday morning, in return for a 130bn euro bailout from the EU and the IMF.

Over the next three years, the Greek austerity plan will involve cutting the minimum wage by 22 per cent and laying off 150,000 government employees.

Incensed by these stringent measures, over 80,000 people took to the streets of Athens on Monday evening to voice their disapproval. Portions of the crowd turned violent, throwing rocks, sticks and firebombs at various nearby buildings and shops. Sixty seven people were arrested for their part in the riots, and 75 more were taken in to custody for questioning. Among the 45 buildings that were damaged by protesters were two historic cinemas, two police stations, a number of banks and a Starbucks Coffee shop.

Though Greece, or more specifically the flailing Greek economy, has been in and out of the headlines since 2009, it seems like the country’s financial troubles have now come to a breaking point. Many are questioning whether the troubled country would be wise to embrace a default and leave and the euro, though others fear that Greece’s dishonourable exit would severely damage the Eurozone’s reputation within the global economy.

What do you think is the right step forward for Greece? Are the austerity measures fair? Should the country choose to default? Let us know your thoughts in the comments section below.

We have been hearing a lot recently about Chief Executives and their bonuses but what has been happening?

£50s via Images_of_Money

Today Stephen Hester, RBS boss, has spoken out after rejecting his near £1m bonus. When asked why he turned down the bonus, he said:

“I took the judgement that it was going to be damaging for RBS to stay in the intensity of that spotlight that we had got into.” (via The Guardian)

The pressure was mounting on him from the public and politicians, arguing that it would be wrong for the boss of the 82% publically owned bank, to take a bonus of nearly £1m. So he turned it down.

Network Rail and their bonuses

On Tuesday Sir David Higgins stated that the company directors of Network Rail would not be claiming their payouts this year. Instead they are going to contribute to the safety improvement funds for level crossings. This is likely in response to the court hearing over the death of two girls at an Essex level crossing in 2005.

Politician’s view

In response to this ongoing row, chancellor George Osborne has said that rewards of successes should be allowed and that he would fight an “anti-business culture”. The political debate is continuing in the House of Commons with Labour dismissing comments they are “anti-business”. The shadow business secretary Chuka Umunna said:

“Very large bonuses should only be paid to reflect genuine exceptional performance if trust in the system is to be maintained.” (Via BBC News)

Our view

Most of us are of the same view that we are ‘happy’ for people to get bonuses if:

1. They actually deserve becuase of good work they have done
2. The company has actually profited. None of us can understand how a company can afford to give bonuses to staff members when the company isn’t actually making any money!

The argument is that if they are doing a good job, why shouldn’t they be rewarded? Steven Hester is doing his job well and RBS are now performing better than before. Plus the company actually made a profit of £33bn, so there is an arguement there that he should have taken his bonus. However I truly respect him for turning it down for the sake of the company and it’s reputation.

This is an argument that is yet to be settled, even though most of us know what should be happening – bonuses for those who deserve it, in a company which is actually making money, as shadow business secretary Chuka Umunna says:

“Bank executives’ remunerations – stated to be ‘performance-related’ – should be just that, related to performance.” (via BBC NEWS)

The bonus argument is ages old and will no doubt continue for a while to come.

What is your opinion on the bonus argument? Do you get a bonus at work? If so how does it work? Let us know…