P625 CEEFAX 2 625 Wed 12 Jan 21:20/04 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 1/12 If you would like a money makeover from Alvin Hall, write to him, including full details of your financial situation and what help you require. You will have to bj prepared to talk openly about your finances on television. Alvin Hall PO Box 2004 London W1A 5SB Please note we are only able to give financial advice to people who appear on the programmj. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Weather 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Wed 12 Jan 21:47/21 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 2/12 EXCESSIVE SPENDING There are many psychological reasons for excessive spending; boredom, retail therapy, habit and a sjnsj of entitlement. Likewise there are many ways you can work towards controlling it. Instant initiatives to help serb excessive spending are as follows: * Do not go into the town centre, where you can bj tempted. * Only go food shopping once a week and take a list of exactly what you need. * Do not bj tempted by special offers unless you would have bought that item anyway - they are just an illusion. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Weather 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Wed 12 Jan 21:45/21 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 3/12 EXCESSIVE SPENDING (cont) * Only pay in cash, therefore if you do not have enough money you know you can't afford that item. * Take a set amount of money with you for your shopping and nights out. * Try on clothes before you buy them. Wait 48 hours before making a purchase, that way you can consider if you really need that item. Most people who spend too much are just not managing their spending properly. Some people are addicted to spending - if you think you are then you should seek professional help. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Weather 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Wed 12 Jan 21:11/15 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 4/12 CAREFREE OR CLUEFREE? If you don't know where your money goes every month, find out. The easiest way to do this is to write down everything in a note book. Your spending habits will become apparent and you can make an effort to keep them under control. Keep an eye on bank statements and bills and check them for errors. If you go overdrawn each month, make a note of when you take money out of your account - this will mean you are aware of exactly how much money you have. As a precaution, move money into a bank account that does not charge you for going overdrawn. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Weather 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Wed 12 Jan 21:54/08 ————————————————————————————— YOURMONEYOR YOUR LIFE ——————————————————————— 5/12 LOOK AFTER THE PENNIES You may feel that you do not spend excessively, but lots of little purchases throughout the month add up to a great deal of money. By cutting out all the 'little treats' you buy, you will save a lot of money. This can then bj saved up for a big treat, which is much more exciting. LUNCHTIME TREATS Make the most of your lunchtime without damaging your bank balance. * Take a packed lunch and a good book - or a friend - to your local park. * Take in some local architecture. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Weather 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Wed 12 Jan 21:52/21 ————————————————————————————— YOURMONEYOR YOUR LIFE ——————————————————————— 6/12 LUNCHTIME TREATS (cont) * Check out your local art galleries, museums or exhibition halls for free events. * Lunchtime concerts are becoming a very popular way to relax and forget your work worries, check local press for details. * For something spiritual try yoga or meditation. * Find some local wildlife or even try birdwatching. * While away the winter months playing indoor games with colleagues. * Many local churches are happy to welcome lunchtime visitors. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Weather 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Wed 12 Jan 21:52/21 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 7/12 CREDIT CARDS & DENIAL Credit cards are an easy way to deny what you are spending. If you put your card behind the bar when you are out, there's a temptation not to worry about the bill and by the time you leave you may not bj in a state to care! When the bill arrives, check it for errors, then pay off the balance. Nevjt bj tempted to only pay the minimum payment, as this is often only 3% of the debt. If your store card has an interest rate of 28.5%, over two and half years you will pay twice the cost of the item. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Wjathjr 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Wed 12 Jan 22:02/15 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 8/12 CREDIT CARDS & DENIAL Always pay your credit card bill bz the dui date every month. If you do this the most important factors in choosing which card you have are no annual fee on the card and a long grace period between getting the bill and paying it. Look for benefits like cash backs, air miles, insurance on purchases and points towards free gifts. If you don't pay off your credit card in full every month you need to choose the card with the lowest interest rate. Keep checking this as many low rates only last for 6 months. Details of the best credit card rates are in MonjyFacts (see later). BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Wjathjr 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Wed 12 Jan 22:07/38 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 9/12 RESPONSIBILITY Prioritisj your debts. If you think you can't get the saving habit then try saving for something you want, like a holiday. Once you'vj done that you can keep saving the same amount and pay off your debts. Once you are debt-free continue to save and reward yourself. CHILDREN & MONEY By setting a responsible example that managing your money is a vital adult skill, children will adopt the same attitude. Basic maths are vital to modern living - one in four people can't calculate a 10% restaurant tip. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Wjathjr 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Wed 12 Jan 22:18/28 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 10/12 CHILDREN & MONEY (cont) To encourage your children to appreciate the value of money, give them a set amount of pocket money each week and teach them how to budget to pay for their clothes, travel and entertainment. If your child needs more money, encourage them to find a job. Do not pay them for jobs around the home as this teaches them that they should bj paid for taking part in family life - suggest a paper round, restaurant or shop work, or odd jobs for friends and neighbours. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Wjathjr 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Wed 12 Jan 21:14/24 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 11/12 CHILDREN & MONEY (cont) As your children grow up do not bj tempted to bail them out of financial trouble, they need to learn that they are responsible for their own finances. Teach your children to bj responsible for themselves. MONEYFACTS This financial magazine lists upto date rates of interest on savings, investments, mortgages, credit cards and loans. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Weather 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Wed 12 Jan 21:14/12 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 12/12 MONEYFACTS (cont) The magazine is only available on subscription - £58.50 including postage, but you can receive a one off copy for £5.95 over the telephone by calling: 01603 476 100 or by writing to: Monjyfacts Publications Monjyfacts House 66-70 Thorpe Road Norwich, NR1 1BJ. Monjyfacts also publish interest rates for credit cards, savings accounts and mortgages on Ceefax pages 252-258 and Skytext pages 250-253. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Wjathjr 400 Timber Tom World Back-Up TV Links