Student loans aren’t a debt – change the name to avert a national tragedy
Language is powerful. In some countries around the world that use our student finance system, repayments are called a contribution. In the UK we call it a loan – that’s killing us. With the increase in tuition fees, we risk damaging a generation of youth because of it. This isn’t solely about the fear-factor of huge ‘debts’,...
Universal credit will push people into 5,000% APR loans
Last week, on the BBC’s Daily Politics, I commented that the new universal credit system is likely to cause a budgeting bloodbath. Yesterday I was pleased to see a report from the Social Marketing Foundation echoing this (see the Monthly benefit payments ‘risk backfiring’ MSE News story). This is all about a nightmare transitional issue. As part...
Turning the MSE forum into a true social network…
The launch of the Citizens Advice Bureau board in the MSE forum is a more radical change than it may appear. Our forum has more active UK users than Twitter (source: YouGov), yet when social networks are discussed, it’s overlooked. After Facebook, the dominant UK social media platform are forums – MSE, Mumsnet, The Student Room, Digital...
Time to ban bank staff sales commission?
For too long, we’ve had speed-bump financial services with products launched, sold heavily by highly incentivised, ill-trained staff, then the brakes put-on with mis-selling reclaiming campaigns. That’s bad for both consumers and the industry. The regulator, the Financial Services Authority (FSA), yesterday launched its report into how banks and other financial services staff are incentivised to flog...
A hidden way to boost Nationwide’s rates
It’s the UK’s biggest building society, widely trusted, with a loyal user base. Yet, if you like the strength and values of the Nationwide, you may be surprised that its existing customers don’t get the best deals – it often saves them for rate tarts going through its little known sub-brands. I was inspired to blog on...
Latest MoneySaving Tips
-
12 urgent banking need-to-knowsIncl 0% Covid overdrafts ending
-
New. Slash your mobile costsEg, '£6.33/mth' for 8GB Sim
-
Spain travel chaos rightsPlus what'd happen if turmoil spreads elsewhere
-
New. Eat Out to Help Out toolFind restaurants near you taking part
-
Beauty dupes£10 Lottie London vs £43 Urban Decay eyeshadow
-
Martin's free fin ed textbook newsScot, Wales & NI to get versions
-
Free £37.50 Sainsbury's trickWith credit card deal that works two ways
-
New 5-day fast-track passport renewalIf you're stuck in the backlog
Recent Blogs
-
Martin Lewis: Payment holidays extended – but should you take one? Mortgages, credit cards, loans, payday loans, car finance and more
21 July 2020
Within the last week, we've seen the extension of coronavirus credit card, personal loan and overdraft help to 31 October 2020, with mortgage payment holidays already extended. The regulator's other help schemes are also likely to be extended too, including car finance and payday loans, yet should you do it?
