Archive for August, 2009

One in ten Brits on holiday become scam victims

Monday, August 24th, 2009

According to the article “Sun, Sea and Scams” one in ten Brits will become a victim of a scam while on holiday this year. With this in mind, the Foreign and Commonwealth Office have stressed Brits who are victims of such scams should report the incident to the local police in order to gain an incident report. Following on from this incidence, should you intend to claim on your travel insurance, your insurance company will require official report information.

Holiday scams can come in all shapes and sizes according to this recent article, whether your taxi driver takes you along the scenic route instead of the crow’s flight cheaper option or the timeshare ‘epidemic’ takes hold.

The resorts of Europe are of particular cause for concern because traditionally, out of the Brits who have holidayed there, twenty one per cent of visitors/holidaymakers have been conned in the past five years. As discovered in a recent poll by the travel insurers LV, the average amount of money that has change hands through these criminal dealings is equal to £250. The insurance company were able to surmise the worst culprits for conning British tourists were Spain, Turkey and France. Calling all Brits on holiday in Spain… beware! Out of all the countries in Europe you could be conned or scammed, Spain is the worst.

Backpackers need to be on their guard when visiting certain countries in Europe as research revealed that one in five backpacking holidaymakers were the targets of scams. Does this mean that lone travellers are the worst at risk from a scam artist? No! Even travelling in a couple is not in itself a means to avoid the con artists that work the European resorts. Forty three per cent of people conned on holiday were in fact couples.

If you are horrified by these statistics, you could be further shocked by the fact that these figures are based on incidences reported to the police. It is common knowledge that not all holiday crime is reported to the police and estimated that only one in ten victims do report their scam to the police.

Scamming is much more rife than statistics initially reveal. All Brits who are not holidaying at home this year and about to go on vacation to Europe should check their travel insurance is completely right for their trip. Additionally, ensure that you do report any crime (no matter how small it seems) to the police so that your insurance company can pay out on the claim without delay.

Students – get money savvy or else!

Wednesday, August 19th, 2009

While the people at Tescocompare.com are aware that there’s nothing like university for excitement and thrills, they acknowledge too that with freedom comes more responsibility!

According to the article “Students ensure your finances are first class” the frivolity of student life can lose its appeal when the bills start rolling in and you have to make all kinds of financial decisions without previous experience. In this article they offer a helping hand with down to earth basic advice for the new student through this life of financial independence.

The student loan is not a huge amount of money so you will need to keep a keen budget in order to leave enough money to go round. To sum up, in order to survive at uni, you will need to find out how to budget, learn to cook, know where the cheapest books are and where the discounts can be had in order to save money. Before leaving for university check out all that is on offer in terms of student discounts and wise up to how much money you will be living on and how far it will stretch. Get some contents insurance sorted for your belongings in case of burglary and the like (this will seem like a painful outgoing but will radically transform into an overwhelming relief!) Above all get some tips from those that know on the subject of budgeting. My nephew was lucky enough to have a Citizens Advice Bureau debt counsellor to help him through the difficult patches (even if he was too proud to ask her at the start!)

According to tescocompare.com not only will you be studying for a BA in say psychology, you will also be getting a BA in budgeting. Quick economics lesson! Everything costs something! Every time you need to eat, you will have to dip into your personal finances to make it happen. There is no one to help you now. You the student are on your own. Don’t worry, you will soon get used to the situation of standing on your own two feet! One thing that students learn very quickly (other than where the best ‘happy hours’ are) is the science of effective budgeting! By the time you leave uni you too will be a worthy shopper of bargains far and wide! Before too long, you too will be preparing a slap up meal for one for under two pounds utilising yesterday’s leftovers and a couple of sticks of spaghetti!

Ignore the pitfalls of a sea view property at your peril!

Thursday, August 13th, 2009

The sea levels are on the rise but this is not deterring the property buying public as houses with ocean views continue to be in great demand. The article “Coastal property: How to keep your head above water” argues we are turning into a nation of house buyers only interested in living for the moment, why else would we throw caution to the wind and take on the risks of a potentially precarious location?

No one can argue that the sight of the sea from your home is something to behold. A house by the sea is a dream come true for the people who take the plunge and relocate to the shores of England. Unfortunately, according to the Environment Agency, these dreams could easily turn into nightmares as sea levels rise twice as high than was previously forecast by the United Nations two years ago. Additionally, the Environment Agency have announced that as many as one in six people in England are at risk of being flooded already.

Properties by the sea continue to sell like hotcakes even though people are risking flooding and not only that but following a downturn in the property market, it is the sea view homes market which tend to recover with a greater alacrity.

Estate agents are currently observing much demand for mid and top range coastal properties and expect this to continue in the face of warnings from the Environmental Agency. Even when it is pointed out to buyers that properties are vulnerable to flooding or erosion, estate agents claim buyers are not put off! The “It won’t happen to me” adage is very much in play in the waterside property market.

But what about buildings insurance? You may not be able to get your brand new property with the stunning sea view covered by insurance. It can be difficult to get building insurance when your home is the mercy of an enthusiastic tide? On many occasions buildings insurance is not available and when it is a high premium is required. According to the Association of British Insurers, the general ruling is that flood insurance is made available only when there is less than a one in seventy five yearly flood risk. Not even a property perched up high on a coastal hillside out of the way of flood risk is safe from the calculating eye of the insurance provider as some companies base their decisions on post codes and not height above sea water. Beware the perils of buying a property by the sea, as it may not be as idyllic as first it seemed.