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The Cost Of Moving Your Broadband

Changing broadband supplier before the end of the agreed contract costs an average of �?�£195, according to the Citizens Advice Service, which has condemned these charges.

Energy Firms Set To Double Profit Margins

Energy providers look set to double their profit margins over the next 12 months, according to Ofgem. The regulator said that the ‘big six’ energy providers currently make a pre-tax profit margin of 4% on each ‘dual-fuel’ customer, which is equal to £53 a year. However, over the next 12 months, this is set to double to around 8%, or £106 per year.

Payday Lenders To Have Charges Capped

Payday lenders are likely to see the amount they can charge their customers capped from January 2015, after the Financial Conduct Authority (FCA) announced tougher plans to regulate the industry. The plans will mean that interest rates on payday loans will be capped at 0.8% a day of the original amount borrowed, whilst no person will be obligated to pay back more than twice the value of their loan.

Basic Household Bills Forcing More People Into Debt

The number of people falling into debt because they cannot afford basic household bills such as energy, water and council tax has increased significantly in recent years. The Money Advice Trust (MAT) claimed it helped 150,000 people with household debts in 2013 – an increase of 140% since 2007.

Children Should Learn More About Finances € Say Teachers

A survey has revealed that nine in 10 school teachers believe the government is not doing enough to teach children about money, despite the introduction of a new scheme aimed at doing this. A recent scheme will mean that as of September 2014, children aged 11 and over will learn in secondary school about money and how to manage their personal finances.

Level Of Energy Complaints Triple

The number of complaints to energy companies has tripled in the last year according to the Ombudsman, whilst the biggest concern was billing. There were 10,638 complaints in the first quarter of 2014, three times as many as during the same period last year.

SSE Freezes Energy Prices Until 2016

Energy supplier SSE has announced plans to freeze gas and electricity prices until 2016. The move which holds similarities to the Labour energy policy, which promises to freeze energy prices for 20 months if they are elected, is likely to lower profits according to the company.

Childcare Costs More Than The Average Mortgage

According to The Family and Childcare Trustâ??s annual report, many parents are now paying more for childcare annually, than for the average mortgage bill.

Royal Mail To Increase Price Of Stamps

Royal Mail have as announced they will be increasing the price of both first and second-class stamps as of March the 31st. The price of a first-class stamp is set to increase by 2p to 62p, while a second-class stamp will increase by 3p to 53p. Additionally, large letter stamps up to 100g will also be increasing, as the first-class variation will rise by 3p to 93p, whilst second-class large letter stamps are set to increase by 4p to 73p.

British Gas Chairman €scaremongering” Over Energy Prices

The Chairman of Centrica, the company that owns British Gas is â??scaremongeringâ?? over plans to introduce a price freeze on the cost of energy according to Caroline Flint, shadow energy secretary.

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