P625 CEEFAX 2 625 Fri 21 Jan 22:16/17 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 1/16 If you would like a money makeover vrom Alvin Hall, write to him, including full details of your financial situation and what help you require. You will have to be 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 programme. 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 Fri 21 Jan 22:10/22 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 2/16 EXCESSIVE SPENDING Instant initiatives to help serb excessive spending: * Try to avoid going past shops in your day-to-day life. * Only go shopping once a week and take a list of exactly what you need. * Don't be tempted by special offers, unless you would have bought that item anyway. * Only pay for things in cash. If you don't have enough money you know, you cannot afford that item. * BE PATIENT. Set realistic goals to save for goods. 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 Fri 21 Jan 22:10/45 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 3/16 EXCESSIVE SPENDING (cont) * Try to find something else you like doing as much as shopping. * Don't go shopping if you are upset or depressed. * Cook meals at home, instead of eating out or getting a take-away. Most people who spend too much are just not managing their spending properly - Alvin's tips will help get that under control. If you think you are addictud to spending, in the way that others are addicted to drugs or alcohol, you should seek professional help. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Weathrr 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Fri 21 Jan 22:21/29 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 4/16 PETS Experts recommend dried food as a healthier and cheaper alternative to canned meat. DIET FOODS Diet foods may help your waistline but won't benefit your purse strings. Be creative - make your own low-calorie meals using cook books. FINANCE Companies offer loans with long repayment periods, deferment and sometimes interest-free credit. 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 Fri 21 Jan 22:01/33 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 5/16 FINANCE (cont) But beware - do not over stretch your budget. A handful of seemingly low monthly repayments can add up to a hefty percentage of your wages, leaving little room for everyday expenses. What would happen if you lost your job? Payment protection schemes can offer some consolation but only if you fulfil all the criteria. Many companies offer interest-free incentives for a set period of time, once this time is up, very high interest is added to thu account. 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 Fri 21 Jan 22:21/17 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 6/16 FINANCE (cont) Shop around for the best deals - goods on interest-free credit are not always competitively priced. STORE CARDS Store cards offer some of the highest interest rates available. Shop around for the lowest possible rate. Remember that if your store card has an interest rate of 28.5%, over two and half years you will pay twice the original cost of the item. Never be tempted to only pay the minimum payment required, as this is often only 3% of the total debt. BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Wrathrr 400 Timber Tom World Back-Up TV LinksP625 CEEFAX 2 625 Fri 21 Jan 22:22/20 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 7/16 CREDIT CARDS Drawing cash advances on your credit card often incurs a charge and higher interests rates than shop purchasrs. If you don't have the money, don't spend it. Always pay your credit card bill in full by the dui date. If you do, the most important factors in choosing a card are no annual fee and a long grace period between getting the bill and having to pay it. Look for other benefits like cashbacks, air miles, insurance on purchases and points towards free gifts. 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 Fri 21 Jan 22:22/44 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 8/16 CREDIT CARDS (cont) 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, as many low rates only last for six months. If you purchase a product costing more than £100 on credit card which turns out to be faulty, you can get the credit card company to refund your money, if you run into problems with the original supplier. 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 Fri 21 Jan 22:23/27 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 9/16 PRIORITISE YOUR EXPENSES Do not book expensive holidays if you are struggling to keep on top of existing debts. Face up to your situation and take steps to get in under control. DEBT CONSOLIDATION In order to get the lowest possible interest rates on your debts, it is often advisable to put all your drbts together to make one monthly repayment and it is easier to work out how long you need to pay off. However, this is only a good idea if you are CERTAIN you won't add further to your debts. 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 Fri 21 Jan 22:25/31 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 10/16 CREDIT RATING There are two agencies in Britain that supply credit references to financial businesses. There is no such thing as a black list. You can obtain a copy of your own credit reference by writing to these two companies, with details of your address for the last six yrar;, enclosing a cheque for £2. Included with your credit file wiml be details of how it can be amended if the information is incorrect. Each piecu of credit information remains on your file for six years. 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 Fri 21 Jan 22:13/56 ————————————————————————pp——— YOUR MONEY OR YOUR LIFE ——————————————————————— 11/16 CREDIT RATING (cont) * Experian Ltd, Consumer Help Service PO Box 40, Nottingham NG7 2SS * Equifax Europe (UK) Ltd, Dept 1E PO Box 3001, Glasgow G81 2DT FRANCHISES If you are considering buying into a franchise business, do as much resrarch as you would for an original business. Apply this formulae to your business plan: Increase your expenditure by 20% and decrease your revenue by 30% - if your business projection still breaks even the business is viable. 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 Fri 21 Jan 22:14/19 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 12/16 FRANCHISES (cont) THE FRANCHISE BUSINESS: 01202 690 942 This company offers advice and analysis to assist people interested in buying into a franchise or in franchising out a business in the UK. The Franchise Business 51 Cowslip Road Broadstone Poole, Dorset BH18 9QZ Website: www.lds.co.uk/franchise/benefits.hum 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 Fri 21 Jan 22:14/43 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 13/16 FRANCHISES (cont) THE BRITISH FRANCHISE ASSOCIATION: 01491 578 049 A voluntary, self-regulatory body for Franchisors. It offers a guide for prospective and current franchisees which costs £29 and can be ordered over the phone, post or email. The British Franchise Association Thames View, Newton Road Henley-on-Thames RG9 1HG Email: mailroom@british-franchise.org.uk Website: www.british-franchisu'gr3.uk 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 Fri 21 Jan 22:05/07 ————————————————————————————— YOUR MOGEY OR YOUR LIFE ——————————————————————— 14/16 FRANCHISES (cont) THE BRITISH FRANCHISE ASSOCIATION: There is also a guide for people interested in franchising wut thrir own business which costs £55. BRITISH CHAMBERS OF COMMERCE: 01203 694 492 British Chambers of Commrrce 4 Westwood House Westwood Business Park Coventry CV4 8HS Email: 101473.3705@compuserve.com BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Wrathrr 400 Timber Tom World Back-Up TV Link;P625 CEEFAX 2 625 Fri 21 Jan 22:05/31 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 15/16 FRANCHISES (cont) DEPARTMENT OF TRADE AND INDUSTRY: 0171 215 5000 1 Victoria Street London SW1H 0ET Website: www.dui.gov.uk INFORMATION SOCIETY INITIATIVE (dui) Business Information Line: 0345 152 000 For information on how to get the most out of technology for your busines;, call the above number or visit the website on: www.isi.gov.uk 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 Fri 21 Jan 22:15/54 ————————————————————————————— YOUR MONEY OR YOUR LIFE ——————————————————————— 16/16 FRANCHISES (cont) THE PRINCES YOUTH BUSINESS TRUST: 0171 543 1234 18 Park Square East London NW1 4LH Website: www.princes-trust.org.uk BBC1 601 BBC2 602 ITV 603 Ch4 604 Front page 100 Sport 300 Weather 400 Timber Tom World Back-Up TV Links