We all have those “screw it, I’m ordering pizza” type of nights.
But honestly, it seems like this treat is becoming more and more expensive. I recently ordered two large pizzas for pick-up. Total? $37.10.
I actually gasped.
We all deserve a kick-back-and-relax night, though, so why not make it a little easier on your wallet and earn some cash back next time you order? A little cash kickback will make you feel less guilty.
That’s whereDoshhelps. It could actually pay you the next time you order pizza. Better yet? You don’t have to do anything different than you normally do!
The Effortless Way We’re Earning Cash Back on Pizza
When you think of cash-back apps, you might think about earning 25 cents back on paper towels or 1% back on your Amazon purchase. Don’t get us wrong, any little bit helps.
But with Dosh, the average user (there are more than 3 million!) can earn cash back for basically doing nothing! Not bad, right?
Here’s what you need to do before you order your next pizza:
Link your credit and debit cards. Dosh is totally safe (a lot of us here at The Penny Hoarder use it), and the more cards you link, the more chances you’ll have to earn money.
Peep Dosh’s cash-back offers. You can literally type in “pizza,” and it’ll show you all the opportunities to earn in your area. Right now, I can get 4% cash back from Papa John’s, 3% cash back from Pizza Hut or 5% cash back from a local joint.
Now order your pizza — over the phone, online or in store. You don’t have to do anything else. When your order is charged to your Dosh-connected card, Dosh will automatically notice and reward you with cash.
Once your Dosh account accumulates $25, you can cash out to your bank account, Venmo or PayPal.
Plus, once you’re signed up, you’ll automatically earn cash back at other local restaurants, bars, coffee shops, grocery stores and more where you use your connected cards.
The money adds up quickly. Just take it from Margaret Hubbard, who earned $468 through the app in less than six months. Most of that was from a hotel stay (yup — you can get up to 40% cash back when you book through Dosh), but she also earned cash back when she went shopping and stopped by coffee shops.
Heck, check your account next month, and, chances are, you’ll be surprised to see how much extra cash you’ve pocketed.
Carson Kohler (carson@thepennyhoarder.com) is a staff writer at The Penny Hoarder. She earned more than $30 in cash back through Dosh without even noticing.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
If you could use a change of scenery, why not get free money to move somewhere?
In the face of declining or slowing population growth, some cities have decided to get aggressive about their survival.
Some are giving away free land, others free tuition, and still others are literally handing out stacks of cash to folks who agree to move their metropolitan area.
Here are 10-plus places that really, really want you to move there…
Places That Will Pay You to Move There
If you’re already looking for a new place to call home, but you don’t have your heart set on a specific area, there are plenty of ways to determine a good fit for you.
But if you’re simply looking for a change and welcome a financial incentive, we’ve found 10 cities — and two states — that are offering deals worth thousands of dollars to entice you to make their communities your home sweet home.
1. Tulsa, Oklahoma
Oklahoma’s second largest city is offering to pay remote workers $10,000 cash to relocate there through itsTulsa Remoteprogram.
You’ll get some upfront cash to help with relocation expenses, then a monthly stipend for your first year. At the end of the year, you get the remaining dough. And they’ll throw in a desk at a coworking space so you don’t have to work out there on the plain all by your lonesome.
The only requirements are that you must be 18 years old, eligible to work in the United States and, you know, want to live in Tulsa.
The 2019 application has closed, but you can sign up to receive an alert as soon as the 2020 application opens. FYI: You’ll need to be ready to move to Tulsa within six month if accepted.
2. Hamilton, Ohio
Hoping to boost its college-educated quotient,Hamilton, Ohio, has a “reverse scholarship,” which pays successful applicants up to $10,000 to move to this small city outside of Cincinnati — paid out in 30 convenient $300 installments.
To qualify, you must have graduated within the last seven years from a STEAM (Science, Technology, Engineering, Arts or Mathematics) program. And you can’t currently live in the city of Hamilton, but you must demonstrate employment within Butler County (where Hamilton is located).
The city’s website also states a preference for those with a desire to give back and engage with the community, so perhaps this is your shot to stage that community theater production of… “Hamilton.” Just sayin’.
3. Marquette, Kansas
Anyone who’s ever driven cross country via I-70 knows Kansas has no shortage of open space.
The state has experienced declining population growth since the early 1900’s, so towns likeMarquettehave been giving out free plots of land in order to entice new residents.
Marquette’s free plots are located on the west side of town in the Westridge Addition, and the website promises beautiful sunset views over the open fields.
To qualify for the free land, you must agree to build a home on the land within one year, and commit to living there for at least a year after your home is completed.
4. Lincoln, Kansas
Here’s another Kansas town offering free land to qualified inhabitants. According to itswebsite, you’ll be able to see the buffalo roam from your home on the range, should you take them up on their offer.
Again, you’ll have to comply with the city’s requirements for building and inhabiting a home within set time parameters. ContactLincoln City Hallfor full details.
Even if neither Marquette nor Lincoln quite suits you, you might be able to take advantage of Kansas’Rural Opportunity Zoneselsewhere. They cover 77 counties, and benefits include tax waivers and student loan repayments.
5. Curtis, Nebraska
How’d you like to build your dream home — without spending a dime on the land itself?
Construct a home in Curtis within a set amount of time (and according to certain specifications), and you’ll receive the land free. All of the lots come utility ready and are located on paved streets.
And in Curtis, it’s the more the merrier — and more lucrative. The family incentive program awards $500 for the first kid, $750 for two and $1,000 for three more children who move to the city and enroll in the Medicine Valley Public Schools.
Life’s simpler in the Midwest — especially when you can get land for free.
If you build a home within a year of receiving the land’s deed, your new property inNew Richland’s Homestake subdivisionwill be 100% free of charge.
Plus, the town’s in proximity to a golf course, lake and bike trails.
7. Harmony, Minnesota
Want to move to the “Biggest Little Town in Southern Minnesota”?
The town of Harmony will provide home-builders acash rebate of up to $12,000to cover costs of construction — and the program has zero age, income or residency restrictions.
The city will reimburse you for student loan payments up to nearly $7,000 if you agree to live in specific neighborhoods for two years.
Plus, you’ll live right next to one of the seven natural wonders of the world.
9. Baltimore, Maryland
Ready to give a little love to an underloved property — and get paid for it?
Baltimore’sVacants to Value Boosterincentive gives $10,000 to buyers of Vacants to Value properties in an effort to address the blight caused by abandonment in the area. The home must be your primary residence, and you must be willing to invest at least $1,000 of your own resources. Also, the $10,000 must go toward your down payment and closing costs.
If that’s not enough reason to Old Bay country, the city also has aBuying Into Baltimoreprogram that offers a $5,000 incentive to use toward buying a home anywhere in Baltimore. You must attend a Trolley Tour event to be eligible; 30 individuals are selected on a lottery basis.
Still not convinced? We have two words for you: crab cakes.
Bonus: Anywhere in Alaska or Vermont
Why limit yourself to just one city when Alaska and Vermont will pay you to live anywhere in their states?
Since 1976, Alaska has paid its residents to live there via itsPermanent Fund Dividend. The payouts are funded by Alaska’s oil royalties and are divided up evenly among citizens.
Yearly payouts vary, but the 2018 dividend was$1,600. Not too shabby just for being there!
To be eligible for the rebate, you must not claim residency in any other state or country. Check out the full detailshere.
Vermont, on the other hand, is making its case for remote workers to relocate to the land of maple syrup.
The state’sRemote Worker Grant Programwill pay for “qualifying remote worker expenses” up to $10,000 — $5,000 per year for up to two years. And in 2020, the program will expand to those who work for employers based in-state.
After all, a fresh start in a new place is easier with a little financial boost.
Tiffany Wendeln Connors, a staff writer/editor at The Penny Hoarder, contributed to this article.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
You’ve just finished unloading groceries, and you feel conflicted. On one hand, you feel accomplished as you admire your fridge full of fresh food. On the other hand, you feel absolutely exhausted and somehow still have no idea what’s for dinner tonight.
The last thing on your mind is probably that crumpled receipt in the empty bag. But we found an app that convert that piece of paper into a free Visa gift card. Just take a picture of it with theFetch Rewards app.
It only took us about 30 seconds.
How it works: Fetch gives you points each time you upload a grocery receipt (from any store) with one of its featured products. Think: Dove, Kleenex, Kraft and hundreds of other brands you probably already buy.
Don’t worry about searching the app for these and “claiming” them. Fetch will automatically find the rewards for you. When we say 30 seconds, we mean 30 seconds.
Then, exchange the points you collect for a prepaid Visa card — good for whatever you want.
We were surprised by how easy this really is.
When youdownload the app, don’t forget to use the code PENNY to automatically earn a free bonus when you sign up and scan your first receipt. You’ll be well on your way to your first gift card.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Most of the time, tips you find for improving your credit center around checking your credit score and following some basic tips for improving it. Those strategies are mostly based on tips given out by the three major credit bureaus (who maintain the credit reports upon which those scores are calculated) and the Fair Isaac Corporation (who actually handles the formula for calculating the most common score, the FICO score).
What do those three things mean? The advice that’s meant solely to bump up your “credit score” might not end up having the affect you want. Most of the time, those tips will help, but they may or may not have any affect on the things you care about, like improving your likelihood of receiving loans or background checks (for jobs or apartment leases).
Given this, a much better approach is to step back and ask what exactly lenders and other people are hoping to learn from looking at your credit. What do they want to know?
They want to know that you’ll pay bills reliably. They want to know that you live up to your obligations. They want to know that, if they lend you money, they can expect with a high likelihood that you’ll pay them back. That’s the case you want to make to lenders and to others who might want to check your credit history, and information related to those things are what people are trying to extract.
So, rather than focusing on trying to maximize one credit score which lenders and others often don’t look at at all, you’re better off adopting tactics that will simply create a better credit history for you, keeping bad items and incorrect items far away.
Here are six simple things you can do to constantly improve and maintain good credit in a world of changing practices.
Pay your bills on time. Period. That is the single most effective thing you can do to keep a good credit history. Pay your bills by their due date, each and every time; if you can’t, do everything you can to never be more than 30 days late on anything, because that’s typically the threshold for a negative entry in your credit report.
If you find that you’re struggling with your bills, be proactive. Call the people you owe money to and see if you can work out something with them. Both of you are better off if you can work out a reasonable arrangement, as compared to you being unable to pay and them being unable to collect.
This may require you to change some of your personal finance habits, but if you want to have good credit, this is paramount.
Try to carry as little credit card balance from month to month as you can. This doesn’t mean “don’t use your credit card,” but what it does mean is that you shouldn’t be carrying much of a balance from month to month and you shouldn’t be approaching the credit limit on your cards.
Aim to minimize the balance you carry from month to month. During the month, try to avoid bumping up against your credit limit – ideally, you shouldn’t get anywhere close to it.
There are some rough guidelines out there as to what percentage of credit utilization is good to slightly raise a particular credit score – don’t worry about that. You’ll almost always be better off by aiming to get your credit cards paid down to the point where you’re not carrying a balance from month to month and a typical month of spending doesn’t take you anywhere close to your credit limit on any card.
At the same time, if you intend to borrow money or get a lease in the near future, maintain at least some line of credit. There is a wide variety of views on how many credit cards and other lines of credit a person should have open. Some people avoid it entirely, which ensures that they stay out of debt. Others go so far as to “churn,” opening up lots of lines of credit in order to get signup bonuses and other benefits.
Unless you don’t anticipate getting a loan, applying for a job, or signing a lease in the near future, you should aim for a middle ground. You want to maintain some open credit and use it responsibly, as discussed above. Don’t open tons of lines of credit, and don’t close anything, either. Rather, you want to appear like someone who uses a credit line responsibly, which you can’t show if you don’t have any or if you’re churning lots of them.
Which ones should you keep?
Keep your oldest credit card and the one you use most frequently open, and close the rest gradually over time. The oldest one you have is often the piece that establishes the length of your credit history, especially if you’re young. If that oldest card is the only one that you’ve had for seven years or longer, you should definitely hold onto it.
You should also winnow your credit use down to a single “main” card that you use, ideally one that offers a good bonus program that gives you some kind of reward for using it.
The other cards? Cancel them, but not all at once unless you’re sure no one will be looking at your credit for the next several months. Instead, winnow them down over time by closing ones you rarely use and centering your use over time onto a single card.
Be smart with your identity and your credit cards. Basically, don’t give out any personally identifying information unless you’re very sure of the situation. Don’t ever enter banking or credit card information over public wi-fi. Don’t click on links in your emails; rather, if you need to check on something, go to the website or app directly and log in. Don’t give your credit card number directly to any service that doesn’t have a very long reputation of being secure (Amazon is okay, but BigBadBillsOnlineBazaar.com probably isn’t).
If you do just those things, you’re cutting off most of the “low hanging fruit” of identity theft that you can control. A lot of identity theft happens because of those kinds of simple missteps, which can leave your information exposed to anyone who might want that data.
Of course, what you can’t control is the other end of the equation: banks and retailers and other large institutions who don’t properly secure their data, allowing hackers and other bad actors to access that information and do any number of things with it. What can you do against that?
Regularly check your credit reports, bank statements, and credit card statements for correctness and accuracy. When your bank statements or credit card statements come in every month, take a few minutes to run through them and make sure all of the charges are accurate. If you find something inaccurate, contact the bank or card issuer and figure out what’s going on.
Every year, check your credit report by using the FTC’s portal at annualcreditreport.com. The federal government mandates that each citizen can request a copy of their credit report from each credit bureau for free each year. Just download it, run through it, make sure everything is accurate, and contact them to report any inaccuracies.
Those two steps will go a long way to make sure that the credit data that’s shared about you is as accurate as possible and free of any misleading statements that could negatively impact your credit.
In the end, if you behave like a responsible person who keeps up with your bills, uses credit extended to you responsibly, and keeps an eye on your bills and credit report, you’ll be fine, no matter what credit scoring system a company uses or whether they manually examine your credit report. Don’t worry about “gaming” a particular credit score, as there’s a very good chance that lenders and employers won’t ever even look at it. Instead, behave in a way that results in good scores all around and a good credit report.
A Yahoo data breach, a TransUnion reporting error and a medication price-fixing scheme could all translate to cash in your pocket if you were affected by one of the latest major class-action settlements.
Yahoo Data Breach
Yahoo users could be eligible for a portion of a $117 million settlement over a data breach that affected billions of accounts.
Yahoo customers in the U.S. and Israel who had an email account through Yahoo or affiliated websites such as Yahoo Sports, Finance, Tumblr, and Flickr between Jan. 1, 2012 and Dec. 31, 2016 could be eligible.
The suit alleged that Yahoo was negligent in the disclosure of billions of users’ personal information, including email addresses, phone numbers, birth dates and security passwords, allowing personal information to be disclosed numerous times even though Yahoo assured users of privacy protection. The breaches purportedly occurred in 2014, 2015 and 2016.
Potential awards include two years of credit monitoring or $100 to $358.80 cash; lost time at $25 per hour, up to 15 hours or unpaid time off work at your actual hourly rate, whichever is greater; and up to $25,000 in out-of-pocket losses.
For details on how to submit a claim by the July 20, 2020 deadline,click here.
Multi-State Lottery Association Scam
After a former IT director allegedly rigged the Multi-State Lottery Association’s computer to keep it from generating random numbers, the association agreed to a $4.3 million class-action settlement to resolve claims they failed to prevent fraud.
If you purchased a non-winning lottery ticket for certain lottery games that used a particular random number generator on drawings held on certain days, you could be eligible for compensation.
Former Multi-State Lottery Association IT Director Eddie Tipton reportedly installed software on the number generators that prevented the numbers from random generation. He allegedly rigged the results of nine drawings between November 2005 and May 2013.
Tipton won a $16 million lottery in December 2010 as part of the scheme and was later given a 25-year prison sentence for fraud.
If you’re eligible for this settlement, you may receive a refund for each non-winning lottery ticket purchased.
Without proof of purchase in the form of an unaltered original losing ticket or proof of registered play, you may receive compensation for a maximum of 10 tickets.
For a complete list of lottery games and dates that are included in the settlement,click hereand file your valid claim by Jan. 7, 2020.
TransUnion Reports on CashCall, Western Sky Loans
Without admitting liability, TransUnion has agreed to pay $500,000 to resolve claims it violated the Fair Credit Reporting Act by including CashCall or Western Sky collection accounts on consumers in certain states where the loans would have been void.
Four plaintiffs alleged the collection efforts by CashCall or Western Sky loans included on their credit reports were invalid for a variety of reasons, including that in some cases, the debts had been forgiven.
In addition to agreeing to the monetary settlement, TransUnion agreed to remove the offending loan collection efforts on its reports.
Affected consumers include “individuals identified by Trans Union, on or about July 2, 2019, as having inquiries on their file dated after October 12, 2016, with addresses in Alabama, Arizona, Arkansas, California, Connecticut, Florida, Georgia, Idaho, Illinois, Kansas, Maryland, Minnesota, New York, Oregon, Rhode Island, South Dakota, Virginia, and West Virginia at the time of the inquiries.”
Most eligible class members will automatically receive a $100 cash settlement, but class members from California will need to submit a claim form that includes their Notice ID and a 9-digit PIN.
For complete details on how to submit a claim,click hereby the Nov. 2, 2019 deadline.
Provigil, Nuvigil and Modafinil Price-Fixing
Consumers nationwide and specifically in California could benefit from a $65 million price-fixing scheme settlement involving the makers of Provigil, Nuvigil and generic modafinil, all used to treat sleep disorders.
Consumers or third-party payors who bought or reimbursed the cost of Provigil or modafinil between June 24, 2006 and Aug. 8, 2019, in Alabama, Arizona, California, District of Columbia, Florida, Hawaii, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Nebraska, Nevada, New Mexico, New York, North Carolina, North Dakota, South Dakota, Tennessee, Utah, Vermont, West Virginia and/or Wisconsin could be eligible for a settlement.
The California case includes consumers from California who purchased Provigil, modafinil, or Nuvigil between June 24, 2006 and Dec. 31, 2012.
Consumer payments will vary based upon the amount paid for the medications.
For a complete list of the manufacturers who allegedly colluded, how payments will be calculated, and the requirements of submitting a claim by the Jan. 15, 2020 deadline,click here.
Motel 6 Latino Guests’ Info Shared With ICE
Motel 6 customers who stayed at certain Washington state locations between Jan. 1, 2015 and Sept. 17, 2017 could be eligible for part of a $12 million class-action settlement.
Motel 6 allegedly shared guest information with U.S. Immigration and Customs Enforcement agents upon request, which was sometimes almost daily. The information on guests was purportedly provided to ICE without agents securing warrants or establishing probable cause, according to the suit.
With the names provided to them, ICE made immigration arrests if a guest had a Latino-sounding name. The Washington Attorney General said Motel 6 violated the state’s anti-discrimination and consumer protection laws.
Settlements amount will vary “depending on the extent of the harm that occurred as a result of having your private information shared with DHS/ICE.”
Anyone who had their personal information provided to ICE will be eligible for $50. If questioned by immigration authorities as a result of the information provided by Motel 6, the claimant may be eligible for $1,000. Anyone who endured removal proceedings after being questioned could be eligible for $7,500.
The locations include:
Motel 6 Everett North (10006 Evergreen Way, Everett, WA 98204)
Motel 6 Everett South (224 128th Street SW, Everett, WA 98204)
Motel 6 Seattle South (20651 Military Road S., Seattle, WA 98198)
Motel 6 Seattle (Sea-Tac Airport South, 18900 47th Avenue S.)
Motel 6 Tacoma South (1811 S. 76th Street, Tacoma, WA 98408)
From Jan. 29, 2017 to March 11, 2017 only: Motel 6 Bellingham (3701 Byron Avenue, Bellingham, WA 98225)
Click herefor complete information and to file a claim by the Dec. 31, 2019 deadline.
Hot Topic Text Message
If you received one or more unsolicited text messages from Hot Topic between Aug. 1, 2012 and July 26, 2019, you could be eligible for a cash payment from a $2.9 million settlement.
Hot Topic was accused of sending text messages to customers who specifically declined to receive such texts, in violation of the Telephone Consumer Protection Act.
Final payments will depend upon the costs of attorneys’ fees and other associated litigation fees plus the number of valid claims received.
In order to submit a claim, you must provide the phone number that received one or more texts from Hot Topic. For details and to submit your valid claim by the Dec. 13, 2019 deadline,click here.
Target Debt Collection
If you received an automated call regarding a Target debt collection even though you were not a debtor on the account, you could be eligible for part of a $7.05 million settlement.
Target is accused of violating the Telephone Consumer Protection Act by calling customers who were not debtors between March 27, 2012 and May 15, 2018.
Affected consumers will receive $70 or less, depending on the attorneys’ fees and other litigation expenses. The number of valid claims received will also affect the amount of the final individual payments provided.
Check out the details and submit a valid claim by the Nov. 3, 2019 deadline byclicking here.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
70% of investors have never switched platforms, despite chance to cut costs
Research reveals platforms are failing to help their customers understand what they are paying for.
Faith GlasgowWed, 10/02/2019 - 13:34
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Platforms are not doing nearly as much as they could to ensure investors know what they are paying for their investments – and as a consequence only 30% of Isa investors have ever moved to a new platform, according to new research from platform consultancy the lang cat.
The research found that only 54% of respondents across all age groups even know what they are paying to hold their investments on their chosen platform, though those aged 55 plus are almost twice as likely to be aware of charges as those aged 18 to 24.
However, it also found that more than half would consider moving to a new Isa provider if they understood they would be saving money on charges by doing so.
The size of potential savings on offer makes a significant difference to people’s enthusiasm for switching.
Perhaps surprisingly, people are much more likely to say they’ll switch for annual savings of under £250 – 75% of those surveyed say they would consider doing so if they saved between £10 and £250, compared with 11% who would switch for savings of £250 plus.
The lang cat says this indicates that investors are “taking a realistic view of the potential savings on offer”.
Money Observer’s (our sister publication) surveys of the differentials in charges between platforms for different portfolio sizes highlight the fact that investors can save hundreds or even thousands of pounds by moving to the most cost-effective platform for their portfolio value.
Money Observer's Isa survey in September 2018, found that for a self-directed investor with a £100,000 portfolio, annual charges could vary between 0.02% (£20) and 0.45% (£450) – a saving of £430.
For a £1 million portfolio, the differential is considerably bigger, ranging from around £3,000 at the pricey end to around £100 at the cheap end of the spectrum.
Yet, while consumers are increasingly willing to switch utility providers or even bank accounts, this research suggests that that does not hold true for investors. The lang cat suggests that this is because they are not making their decisions on the basis of cost-cutting alone.
Other possible factors include the fact that switching could seem like a short-term measure in the long-term game of investing; that cost comparisons between platforms are complex and very difficult to make; and that moving from one provider to another is not a swift or straightforward process.
Mark Polson, principal of the lang cat, makes the point that brokers and platforms could do a great deal more than they currently do to make the whole process easier and less scary for customers, but that at present they are more inclined to nurture the status quo.
He says: “What is clear to us is the industry has no vested interest in helping investors understand what’s going on and in fact has had to be repeatedly encouraged by consumer champions in the media and by its regulator to improve matters. That’s simply not good enough.”
The recent move by most brokers – with Moneywise's parent company interactive investor included – to do away with exit fees is a step in the right direction towards a more transparent and open market.
Clearly, however, there is a very long way still to go towards a more transparent and competitive market in which investors actually vote with their feet, and the journey is almost bound to involve the industry regulator.
This article first appeared on our sister website Money Observer
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I am a freelance worker – should I use property to kickstart my pension?
Can you help me start planning for retirement? I’m a freelance worker so don’t qualify for automatic enrolment. Are there specific pension schemes for freelancers? Or should I be looking at pension alternatives, perhaps investing in property instead?
Helen MorrisseyWed, 10/02/2019 - 00:19
From
AL/London
Property has proven to be a popular investment in recent years, but you must consider the pros and cons carefully. While property values have gone up, this needs to be considered alongside the costs. For instance, you will need to pay tax on any rental income received and you will also need to pay for the property’s upkeep.
When you come to sell, you will also need to pay capital gains tax – all of this can add up to a tidy sum.
With a pension, you will receive tax relief on anything you pay in. So if you are a basic-rate taxpayer, for every £80 you pay in the government will top it up to £100. If you are a higher-rate taxpayer, then you only need to pay in £60 for the government to top up to £100. You will also benefit from tax-free investment growth.
While you do pay tax when you come to draw pension income, you are able to take 25% tax-free. These are powerful benefits that should not be ignored.
There are no specific pension schemes set up for freelance workers, but consider hiring an independent financial adviser for help choosing the right provider and an investment strategy to suit your needs. For a list of advisers, visit Unbiased.co.uk.
Do you have a money question for out panel of experts?
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If you have been treated unfairly by a firm send the details to Moneywise’s Fight for your Rights and we could take up the fight for you.
Email fightback@moneywise.co.uk
If you have a question about your investments or investing in general, put it to our Investment Doctor.
Email editor@moneywise.co.uk
If you have a question about your personal finances – anything from tax to state pensions, inheritance tax, property sales and more – write to our Ask the experts panel.
Email advice@moneywise.co.uk
Would you like a full money makeover? We will arrange a free one-to-one meeting for you with an FCA-regulated independent financial adviser worth over £2,000.
Saga launches savings accounts for the over-50s: here's how they compare
Saga has launched two new savings products for the over-50s which offer discounts on food, travel, events and competitions
Stephen LittleWed, 10/02/2019 - 11:09
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Saga has teamed up with Goldman Sachs to offer two new savings accounts for the over-50s.
The over-50s provider now offers an easy-access savings account paying 1.4% and a one-year fixed saver at 1.15%.
While the accounts are opened with Saga they are managed by Goldman Sachs.
The accounts provide membership access to Saga’s Possibilities programme, which offers discounts on food, travel, events and competitions.
The accounts
The Saga Easy-Access Savings Account pays 1.4% but comes with a 0.25% bonus for the first 12 months. This means that after a year your rate will fall to 1.15%.
Savers can withdraw their money as often as they need without fees or charges.
The one-year fixed rate saver pays 1.15% and you are only allowed to make deposits in the first 14 days.
If you do want to withdraw money from your account before the end of the one-year term, you will have to close the account and pay an early-closure fee.
Both accounts can be managed online or by telephone and deposits are accepted up to a maximum of £100,000.
However, a warning for prospective customers, if a saver has money in more than one account with Goldman Sachs International Bank, you will only be protected for £85,000 (the Financial Services Compensation Scheme limit), across all accounts.
This includes both Saga Savings accounts and the Marcus by Goldman Sachs easy-access online account.
Andrew Hagger, a personal finance expert at Moneycomms, says: “This is a competitive deal from Saga - pushing the likes of Cynergy Bank and Marcus both at 1.45% but the big difference with the Saga offer is that customers can sign up via telephone as long as they have an email address.
“This will prove a popular option with older customers who are not comfortable managing their financial affairs online due to security concerns.
“Saga is a respected and brand and I think this together with a top five savings rate should make this a popular easy access savings account.”
How the accounts compare
While Saga is offering an attractive rate for its easy-access account, it is beaten by a number of its rivals.
Easy-access accounts
The top easy-access account currently on the market is Goldman Sach’s Marcus account which offers a rate of 1.45%. However, it comes with a 0.10% bonus for the first 12 months. This means that after a year your rate of saving will drop to 1.35%, compared to 1.15% for the Saga easy-access saver.
The rate was recently cut from 1.5% after nearly a year at the top of the best buy table.
Cynergy Bank is also offering an easy-access account at 1.45%, but the rate drops 0.70% after a year to 0.75%.
Coming in just behind is Virgin's Money Double Take E-Saver and Kent Reliance’s easy access account, both at 1.43%.
Best easy access savings accounts
Marcus by Goldman Sachs 1.45% Open this account online with a deposit of £1. Note this comes with an initial 12-month bonus of 0.10% so your rate will drop to 1.35% after one year.
Cynergy Bank Online Easy Access Account 1.45% Open online with £1. Introductory rate includes 0.70% for 12 months.
Virgin Money Double Take E-Saver 1.45% Open this account online with a minimum £1 initial deposit.
Bonds
The best one-year fixed saving currently on offer is from Al Rayan Bank at an EPR of 2.07%.
It is followed by Gatehouse Bank with an EPR of 1.90% and Aldermore at 1.85%.
Top one-year bonds
Al Rayan Bank 2.07% (EPR) Open this account online, in-branch or by phone with a deposit of £1,000.
Gatehouse Bank Fixed Term Deposit 1.90% (EPR) Open this account online with an initial deposit of £1,000.
Aldermore 1 Year Fixed Rate Savings Account 1.81% Open this account online with a deposit of £1,000.
Source Moneywise - 29 years of helping you with your finances https://ift.tt/2pbt6CL
