It has emerged that some gym contracts will be investigated by the Office of Fair Trading (OFT) over long contracts and unfair cancellation policies.

Even though the OFT will not name the companies implicated in the investigation, it can confirm that there have been concerns raised over the complicated terms that gyms can use to get their hands on your hard-earned cash for as long as possible.

Image by Farhad sh

This will no doubt be a sore point for many people at the moment, as those who hastily got themselves into a gym membership contract on the back of an ill-fated New Year’s resolution will now be paying the gym each month for a service they rarely, or never, use.

Now excuse me as I climb up onto my soap box here. I have nothing against gyms, and if that’s what you’re into and can stick with it, more power to you. However, they’re just not for me.

I would much rather go for a run in the fresh air for free than run on the spot and pay for the privilege.

However, gyms do have their uses. When I got injured last year I joined one for a month so I could use their cross training equipment, which worked out a lot cheaper than buying the kit myself. But as soon as I was feeling better, I was back outside again.

I was lucky in the way that I was able to find a gym that was willing to do a temporary membership, but I know that these are not always easy to come by. The latest OFT investigation just goes to prove that.

There is a lesson to be learned from this. My advice? Don’t just jump in with an annual gym membership – try and commit to as small a timescale as you can. It takes around 21 days to form a new habit, so a month’s membership is ideal to see if you can stick it out.

Or, even better, try and find forms of exercises that are free. Running in your local park is fun, refreshing and costs you diddly squat. If after a couple of month of regular sessions  you’re still desperate to pound the treadmill instead, then by all means, go ahead and get yourself signed up at a gym. You’ve already proved to yourself that you can commit to regular exercise, so it’s less likely that money will go to waste.

In short: don’t go for a gym membership unless you are 110% positive that you will follow through. Otherwise, you may find that it is just money down the (communal shower) drain.

Are you signed up at a gym but never use it? Do you have experience of a lengthy contract you didn’t want? Tell us your story in the comments below.

Today’s guest writer is Kate from CurbYourConsumerism.com.

Image by o5com via flickr

I’m not a fan of the term “New Year, New You”. Don’t get me wrong I’m no neophobe, I love change. In fact, I need it to keep me motivated.

However, I prefer to be more realistic and incremental with making any changes, especially New Year changes.

It’s no different with financial planning, be honest with yourself, this time last year, did you have good intentions that you failed to implement fully? If you did, it’s not just your personal finances that need an overhaul, it’s the way in which you approach change.

Don’t just write the same list that you did last year. Instead, analyse why you failed to follow through with the changes. Were they unreasonable in practice, did you just forget to do it in the new way? It’s for this reason that I prefer the term New Year, new perspective. You know yourself and how you work, tweak that rather than resolve to revolutionise yourself completely.

A small change that can make a big difference to your personal finances, is the implementation of amortisation. This is the process of spreading the cost of purchases over a number of months so that there are no large spikes of expenditure over the year. Companies use this process so that their books look balanced and predictable, as opposed to erratic.

Most of us have a steady monthly income stream, and the problem with having large spikes of expenditure in your personal finances i.e. when the money for that holiday leaves your account, is that this activity can take you into the red. Putting amortisation into practice is a matter of estimating the big expenses that you are going to have over the year, and dividing that figure by 12. Siphon that money away into a separate account until the money is needed. This makes your finances easier to predict, and will give you a better understanding of your true disposable income.

Kate Edwards is a saving fanatic and blogger from the unashamedly sexy realm of personal finance. Through CurbYourConsumerism.com, she helps readers to eat well, live well, and prosper.

What are your thoughts on personal finance? Do you spread the big costs or do you take care of it in one go? Tell us your story in the comments below!

What they don’t tell you when you start planning a wedding, is that not only are weddings expensive, but so are honeymoons!

Image by: gruntzooki

Follow your dream, but it’ll cost you

For me and my fiancé the dream is Canada; the plan, hire a campervan and road trip around Ontario for two weeks. Doesn’t sound too bad right? Sure, flights will cost a little more than a trip to say the Maldives but surely we’ll make that back by hiring a van rather than staying in a posh hotel…wrong!

When the time came to research our amazing honeymoon idea it turned out that this in fact was not the case. The price of the flights alone turned out to be more than double the cost of an all-inclusive Holiday package to a beach resort, and hiring a campervan is no cheaper than staying in a four star hotel! Then of course you have the cost of holiday clothes, travel insurance, food, and spending money for days out and souvenirs. All of this comes at a price and that price is high.

So where does this leave honeymooners? With the average cost of a Honeymoon exceeding £3000 after an average £20,000 has already been spent on the big day itself, it’s not hard to see why some couples choose the beach package option or in some cases no honeymoon at all. But there are some ways to make the cost of having your dream holiday a little easier on the already tightly squeezed pockets.

Patience is a virtue

Take your time and shop around; it may not sound like something you’re up for while already planning a wedding, but taking the time to really look at what’s available can save you a few hundred pounds. After just one hour spent trawling the internet for cheap flights I’ve already managed to knock £500 off the cost so far.

You’re planning a honeymoon so use this to your advantage.  Try seeing what kind of upgrades you can get on flights; hotel rooms etc. because you are on honeymoon.  As they always, say if you don’t ask, you don’t get and you could end up getting first class flights for cheaper.

Don’t take a package deal just because it looks like a good deal, compare the cost to how much it would cost if you booked the part separately, you may well find that you can find things cheaper if you book it yourself.  You might even get more for your money doing it that way.

Timing is everything

Consider dates, although it would be nice to jet off and relax the day after your wedding, if this is a summer event then this could end up costing you an arm and a leg.  If you don’t mind waiting until the summer season is coming to an end you could possibly half the cost of your honeymoon, and chances are you’ll have a much quieter get-away too.

At the end of the day it is important to decide what matters most to you and your partner: if the destination is important then you might need to make savings on your accommodation;, if it’s a 5-star experience you are after then you could choose to stay close to home in order to enjoy a perfect pampering.

Do you have any tips for cutting the costs of having a dream honeymoon? Let us know in the comments below!

In these dark days of winter, when the sparkle of the festive season is finished and the dreary weather has properly set in, many of us begin to dream of holidays to warmer destinations.

Image via eisenbahner on Flickr

If you’re plotting an escape to the sun, the many low cost airline seat sales lighting up the internet at the moment are doubtless a tempting proposition. However, before booking that cheap flight, there are a number of pointers to keep in mind to make sure you really are travelling with the best-value airline.

Beware of extra costs

While budget airlines continually advertise shockingly cheap prices for their flights, many an unwary traveller has slowly wound their way through the labyrinthine booking processes only to discover on the final step that the initial ticket price has swelled astronomically. This unwelcome increase is due to extra fees, taxes and charges that airlines seldom mention when announcing their ticket costs.

Even when an airline notes that taxes and surcharges are extra, it can come as a big surprise to discover just how little is included in the base price. Generally, it’s the airlines offering the cheapest seats that are the worst offenders in this respect. So-called budget airlines charge for a range of “optional extras” that often aren’t really optional at all.

Depending on the airline, you may find yourself paying not only standard air passenger tax and fuel surcharges, but also an extra fee for such services as checking bags, priority boarding, pre-assigned seats, travelling with an infant, bringing extra sports equipment, and even checking-in and printing your boarding pass. (It’s intriguing that so many budget airlines seem to consider the check-in process to be “optional.”)

Many consumer rights groups are particularly bothered by the highly inflated fees most budget airlines charge passengers who pay by debit or credit card. Last year consumer rights website Which? launched a campaign to persuade airlines to eliminate or at least reduce these charges to a reasonable level.

Squeezing every penny

Which? argues that the fee should be equal to the cost to the airline, and that the charge for using a debit card in particular is in fact so low that the companies in question should simply absorb the cost. Otherwise it amounts to little more than an attempt to squeeze extra money out of consumers. At the very least, the extent of the extra charges should be more apparent in advertising and during the booking process, they say.

Widespread objections to such charges have lead the British government’s recent decision to ban airlines from charging for the use of credit and debit cards, with legislation expected to be introduced by the end of 2012. This will be a painful hit for many airlines – according to the Sydney Morning Herald, Ryanair currently charges £12 per flight for using a card; Flybe, £9 for debit and £11 per passenger for credit cards; and easyJet, £8 per booking.

Contrast this with a traditional airline such as British Airways, which charges nothing for using a debit card and £4.50 per booking for credit card payments. This is one of many examples of why it is sometimes better value (and less hassle) to choose a full-service carrier over the budget option. The ticket price may initially seem greater, but with no extra cost for the necessities – checked luggage, boarding cards, online check-in – and the little extras that make a journey pleasant – pre-assigned seats, complimentary drinks and food service – it often works out to the same price or cheaper, with the added benefit of a smoother booking experience with far fewer surprises.

Do you think budget airlines are good value for money? Share your thoughts in the comments below.

It’s already a huge craze in the United States and recently it’s been in the press that it might be catching on here in the UK.

Extreme couponing has made such an impression in the US that A TV show was created based on it in 2010 which is now on it’s third series.

So extreme couponing, what is it? Most people are familiar with the idea of coupons and many people will have used them at one shop or another. As you could guess, extreme couponing is this, but EXTREME. People like myself (non-extreme couponers) will use a coupon if it saves me money on an item I need.
Extreme couponers are willing to store things for a rainy day, like buying 48 bottles of shampoo because you had 2-for-1 coupons even though you don’t need shampoo. That’s extreme couponing. The idea of bulk buying really comes into play here.

Photo by Jane Shields via Pinterest

It’s becoming a trend amongst middle-class woman in the UK, spilling in from the States obsession with coupons and discount vouchers which stems back to the early 20th century. The seemingly addictive trend means buying newspapers, magazines and leaflets purely to cut out coupons and discount vouchers. The trend is spreading across the internet, which is now the most popular source for discount vouchers for British woman.

So where do they put everything?

The only prerequisite for extreme couponers is that they really do need a lot of space, depending on the ‘level’ of extreme. Extreme couponers like El Jones keeps her bargains in her basement, her loft, under her bed and after a large couponing spree, in the boot of her car. She describes getting a rush of excitement when she sees a good deal in a magazine or on the internet and admits she attempts to get things as close to free as humanly possible.

In 2011, the average Briton saved over £1,200 using money-off vouchers, nearly double the figure from 2009 (£672). El has cut her weekly grocery shop from £80 to £15 using her coupons, she does however admit it has become a bit of an obsession and she now has folders to organise her discount vouchers.

The big question

The big question is, are you really saving money? El admitted to buying a £200 mattress that she didn’t need from popular discount deals website, Groupon and often buys spa days and treatments. Another extreme couponer saved a huge amount of money buying a car-full of Christmas presents for her family, but did she really need to buy so many presents?

It’s clear that this money saving spectacular hasn’t grasped the UK the same way it has a hold of the US. The extreme couponing reality TV series has certainly had something to do with the trends popularity in the States. Where Americans can watch extreme couponers reduce their supermarket shops from £150 to £5 using a bagful of coupons. The trend does seem to be on the rise however with over a 20 million Google searches for ‘voucher codes’ in the last month alone.

Have you ever considered extreme couponing or know anyone who you’d describe as an extreme couponer? Where do you go for the best discount codes and what are your most popular items to get discounts on? Tell us about your experience in the comment section below. 

It’s a time for giving – picking out that perfect gift for someone you care about and then seeing the look of the delight in their eyes as they see something they never expected but nevertheless always wanted. It’s a demonstration of a bond and knowing the person better than they know themselves. Or if you can’t be bothered just get them a voucher.

Image via HowardLake

Guess what, I’m doing okay for myself and if I want to buy something for myself. I earn this thing called money that allows me to go to a shop and buy it any time.

Now what I’ve been given is money that limits my buying options. Thanks so much. It’s like taking someone to Florida and only letting them visit NASA when all you want to see is a giant mouse and roller coasters.

Well maybe there is something that you really want and the vouchers will be greatly appreciated. Then you go to buy and it turns it costs just a little too much. Rather than getting a lovely gift you end up resenting having to spend your own money on something you only got because it was in a particular place at a particular time.

Then you’re left questioning whether you’ve bought the right thing, just because you were in the shop or if you should have waited until there was something you really wanted. Then you realise you don’t like shopping anyway so it’s best to get out of there as soon as you can, especially if it’s those horrendously busy January sales.

Think I’m thinking in an ungrateful and slightly unstable, especially since someone has been generous enough to acknowledge my pitiful existence? Maybe you’re right but have you thought of the worst case scenario?

Shopping could be dangerous. You get attacked by a bear or the sky could fall.

Lucky there are online stores for nearly all the shops now so that danger can be avoided.

From everyone at Cashzilla, have a Happy New Year and enjoy the sales.

This Cashzilla writer is currently suffering from a breakdown. How do you plan on spending your vouchers? Tell us about it below.

So Christmas presents are bought and the credit card bill in January is looking painful, but there is always something to which needs buying.

It is always ‘sod’s law’ that the washing machine breaks or you lose your phone at the Christmas night out and you need to buy a new one. But you have limited amount of money and need to get the best deal, so one way of doing this is to shop online. So here are some reasons why shopping online is great for saving money.

Online Prices

Firstly, a lot of companies will provide customers with two prices, an in-store price and an online price. This means that if you are comfortable of buying your product online, you can save a lot of money by purchasing it online.

love saving money via Tony Crider

Comparing prices

One of the great things the internet has allowed us to do, is to compare prices much more easily than ever before. Therefore the best way you can save money online is to compare prices amongst the competitors to get the best price for you.

Delivery Charges

Part of the reason people are put off from buying online, is concern over the prices of delivery, however this should not be the case. A number of companies now provide a free delivery option which can be hugely beneficial to the customer. Furthermore, you can also save money on petrol and parking costs by buying online as well.

Discount Codes

Discount codes used to be about cutting vouchers out of newspapers and sheepishly showing the cashier your voucher for 50p off £50 worth of shopping. But now more sites are out there and it is almost a ‘cool’ thing to do now! There are a number of online sites which give users a variety of discount codes and offers that are available. These can be great for ensuring you get a better deal whether it be for your holiday, shopping for clothes, DVD or electronics.

There you go then, these are some ways you can save your money by simply purchasing your products online.

Do you have any other money-saving tips when buying products online? Have you made a great saving by purchasing something online? Let us know in the comment section below.

Christmas is always difficult when trying to keep our budgets under control and resisting impulse shopping. Sometimes you find that perfect thing for that certain someone after you’ve already spent way too much money on your way there.

Image by: Brittany0177 via Flickr

Sound familiar? Keep these tips in mind when shopping this Christmas season – or at any time – to keep your impulses from taking over at the cash desk.

Learn to walk away

This will not only help during the Christmas season, it will help in your everyday shopping habits. If you can walk away from an item and have a think about it, you’ll be more likely to be satisfied with your purchase once you head back to the shop for your dream gift/dress/shoes. If you walk away and you forget about it or lose interest, you probably didn’t really want it anyway. (A good tip for clothes shopping: If you’re not in love with it, don’t buy it. You won’t wear it.)

Shopping online: Don’t let the website store your credit card information

While it seems like a simple task, having to dig around in your bag for your wallet to pull out your card and submit all those tiny numbers sometimes puts people off buying that online item immediately - which isn’t such a bad thing. Just like walking away in the shops, keeping an item in your online basket for a few extra hours won’t hurt. You might find you don’t want the item after all. If your credit card or debit card information is stored with the site, you can be sure that the one-simple-step shopping will add up a lot quicker than you expect.

Take Santa’s advice: make a list and check it twice

Christmas shopping is best done with a list. This way, you can keep your mind organised when you’re shopping so you don’t buy way too many items for one person, then feel like you have to match that with everyone else on the list. Make a realistic list and keep it in your hand when you’re shopping. Plus, crossing off the items as you go is also so satisfying. There’s even an app for that.

Do you have any shopping impulse control tips? We’d love to hear them. Leave them in the comments below.

High street consultant Mary Portas has published plans for improving the high street and cut business rates.

Image: Gwydion M. Williams

While it has been backed by business groups, landlords and bookmakers are not so sure of the wisdom behind the plans – which include stricter controls on establishing betting shops in deprived areas.

The seven-month review highlighted dwindling choice on the high street in favour of out-of-town shopping malls and online shopping.

Between 2000 and 2009, 25,000 town centre shops closed with a further 9,000 of the remaining  140,000 expected to disappear over the next three years.

Portas said that communities have been sacraficed in favour of convenience, and that towns should be more resistant to generic fast-food outlets, charity shops and bookmakers, allowing a revival of “multi-functional and social shopping high streets.”

However, betting shops generate almost £1bn in tax every year, drive footfall through strugging high streets all over the country, and support more than 100,000 jobs; and landlords are not in tune with the call for Secreary of State level “sign-off” on out-of-town planning applications.

One of the difficulties facing new entrepreneurs is the ability to choose what service to offer communities and shoppers. Currently planning legislation makes it difficult to alter the original purpose of a property – to change a restaurant to something like a gym or a nursery is tied up in red tape.

The FSB supports the plan but says that it doesn’t go far enough to tackle issues such as convenient and cheap parking – which is pulling consumers away from the high street to out-of-town malls.

Market stalls feature in the review for the Prime Minister, but local authorities are concerned that relaxing the rules around setting-up market stalls will open the door for unscrupulous traders flooding the market place with counterfeit goods and taking advantage of cash-strapped families.

There are certainly solid arguments on both sides, but the Government’s response to the report won’t be revealed until next Spring.

Mary Portas’ recommendations include:

• Grant teams of traders, landlords, councils and consumers the power to decide mix of shops and services
• Require Secretary of State to approve out-of-town developments
• Use markets to drive footfall and reduce licensing legislation
• Generous business rate relief for small and new businesses; 80% relief for charity shops
• Controlled free parking and lower hourly charges
• Volunteer ‘Town Rangers’ to keep town centres safe
• Allow night time deliveries to encourage bigger stores back to the high street
• Encourage landlords to make better use of empty premises

Do you think Mary Portas’ plan to save the high street will work? How will consumers and business owners will react? Tell us what you think in the comments section below.

Image by: mark sebastian via Flickr

They say the thing newlyweds fight about most is their finances. A huge number of engaged couples avoid the topic, leading them to marital finance fights. Consider these most common newlywed money mistakes before you walk down the aisle.

NOT talking about finances

While people tend to avoid talking about money to avoid a fight, it’s a crucial conversation to have before you walk down the aisle. Not talking about your finances will only delay the inevitable. Don’t keep any financial secrets from each other – this includes talking about any debt, unpaid bills and your credit ratings. They say if a couple can freely talk about money, they can talk about anything, and what good marriage doesn’t depend on good communication? (Plus, you don’t want any surprises.)

Keeping up with the Joneses (or your parents!)

Newlyweds of this generation tend to compare themselves to their friends, siblings and most often, parents. More young newlyweds are purchasing beautiful houses and new cars at a much earlier stage – whether they can afford it or not. Experts say young newlyweds get caught up in the romance of wedded bliss and buying their dream house is part of that.

The most important thing to remember is that you are at a very different stage of life than your parents are. When your parents got married it’s likely they didn’t have a lot of money either. Indulging in your dream house if you can’t afford it will just sink you further into debt, meaning by the time you reach your parents age you are less likely to be financially stable. Live within your means and learn to determine want vs need. If you live in a little house or flat that you can afford for a while and save up, you’ll move into your dream house one day.

Letting one person take the financial reigns

Even if you think you won’t manage the finances as well as your spouse, it’s still important to be an active member of your partnership in all ways – finance included. If you are not financially minded, make an effort to be a part of planning your budget, bill payments and monitoring bank accounts. If you close your eyes to your finances, you are more likely to overspend or miss your budget goals. Setting clear financial goals together will help build a better partnership.

Have you discovered any money tips for newlyweds? Tell us about them in the comments below.