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Thinking About Having a Baby? Check the Child Costs

Did you know that on average the cost of a child up to the age of 21 is £229,251, an increase of almost £2,000 on last year’s figure.

According to the report, the cost of childcare (nurseries, babysitting and after-school care) in particular has seen the most dramatic increase over the last 12 months, rising by 2.2% to reach £67,586. Use the childcare cost calculator created by LV to find out how much you are potentially going to spend on your children until they grow up.

Child Cost

The cost of education has also climbed in the last 12 months to reach an all-time high of £74,319, causing parents to think twice about whether university is a feasible option for their child.

Impact on Childcare & Education

Impact of cost on families
source: LV

Guess how much it costs to raise a child from birth to 21?
LV asked this question to a group of parents at Lollipops play café in Bournemouth.

Listen to their reaction to the latest figures, their take on how they afford childcare, and the reality of whether they have anything in place to protect their essential income that pays for these rising costs.
Get to know the key findings.

Now you know how expensive it is to bring up a child, I will give you some advice on saving on child cost in my next post, stay tuned :-)

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New Year and New Ways of Saving- Top 10 Tips in January

The new years celebration last only a few hours and then we come to the realization that yet again we are older and the prices are going up…

There are however many ways to start your new year in a way which will allow you to SAVE not to spend money. My favourite tricks this month are:

1. Transfer your current bank account to Halifax and open a reward account, once you set up 2 standing orders and will have at least £750 coming to this account each month you will get £5 reward each month :-) = £60 extra per year + £100 for your bank account transfer on the top of that.

2. Save even more money when opening a second bank account with Santander. Open the 123 Account and yet again set up at least 2 standing orders with them and will get at least £500 coming to this account not only will you get a cashback on some of the bill you are paying using this account but you will also get 3% of interest rates on your savings (once you get £3k up to £20k)- depending how much you can save on this account you will be able to save up to £600 per year, so it will be well worth the £2 fee you need to cover each month for this account (it is quite likely that this fee will be covered by your bills cashback anyway)

3. While you have opened the 123 Account in Santander maximise on the opportunity to get their 123 Credit Card, if you have 123 Account its fee will cover your credit card fee so the first year of having this card will be for free and yet again you will be able to get some more cashback on groceries, petrol and on the shopping in some of the biggest department stories.

4. Overpay your mortgage if its interest rate is any higher than the interest rate you have you current saving account – and here let me remind you that the best saving account in the UK is currently offered by Santander, as decribed in point 1:-) Listen to Martin for a great advice on that matter.

5. Get fit with HALF PRICE GYM membership :-)
freeleticsGet basic PruHealth health insurance (it will cost you round £18 per month) and then get :
- half price membership fee at Virgin Gym
- weekly free ticket to VUE or Cineworld
- Eurostar discounts (BA discounts from April 2015)
- free handcrafted drink once a week at Starbucks (from April 2015)
or get fit with freeletics – where 3 month plan will cost you only around £20

6. Save £12 on your first online shopping at Tesco - well you have to spend £60 at one go but if you buy a few botless of wine and some cosmetics or long lasting products it shouldn’t be that difficult after all. When shopping next time use – the website allows you to swap supermarkets once you are done with you initial shopping and compare where your shopping would be the cheapest :-)

7. Buying loads of cosmetics? Visit All Beauty or Fragrance Direct both offer better deals then the duty free.

9. Traveling to and from the airport in London? Some services offer great discounts e.g Stansted Express can cost you as little as £7.50 if booked a month in advance. When traveling from/to another airports you can share a cab to get a better price for your journey, simply use

10. Setting up a small business? Use 78 York Street for an affordable virtual office and Warehouse Storage Solutions Limited for quality storage solutions. If you need a genuine accountant who will think about you and not only your business go for Primus Accounting – the best accounting office I had a chance to choose. Amazing and professional service.

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5 fictional characters who wished they had bought Motor Legal Protection

Here in the real world, there are thousands of individuals who, on a daily basis, wish they had bought Motor Legal Protection. But the same is true of fictional characters in television, books and movies as well it seems.

From time-travellers to fast-track toads, the staff at online financial services website Best Price Financial Services came up with their favourite fictional characters who would have wished they had purchased that little extra coverage on their cars.
Motor InsuranceArthur Weasley (Harry Potter)
First up is none other than Arthur Weasley, the dad of child wizard Harry Potter’s best friend Ron. When Harry and Ron stole Mr Weasley’s Ford Anglia to travel to Hogwarts before flying into some trouble, a little motor legal protection wouldn’t have gone amiss. The wrath of the Whomping Willow would have kept it firmly off the road and, more importantly, out of the sky, meaning Mr Weasley would’ve been unable to travel to work (unless he chose to apparate of course!). Motor legal coverage would have provided him with a replacement vehicle faster than you can say “accio, car!”

Doc Brown (Back to the Future)
This list would not be complete without mentioning Doc Brown, the eccentric inventor in Back to the Future. Not unaccustomed to dealing with a few faults himself, Doc Brown would have been dumbfounded if his dazzling Delorean were put off the road, and (spoiler alert) how would Marty McFly have made sure his parents got together then?
Note: Replacement time machines may be quite difficult to source.

Mr Toad (The Wind in the Willows)
Often the centre of many a motor-related conundrum, speedster and motorcar-mad Mr Toad would’ve been a prime pick for this policy. With a little help from motor prosecution defence, he could’ve minimised his time behind bars and maximised his motorcar collection with all that money saved. And who knows, maybe a little tough-talking from a legal professional would have done what neither Ratty, Mole nor Badger could and set him on the straight and narrow.

Postman Pat (Postman Pat)
From our fond childhood memories, comes Postman Pat. The trusty postmaster of Greendale delivered not only the day’s mail but a healthy dose of help to the village’s residents. Generally a careful driver, if Pat and his black and white cat were put off the road in an accident then there’s no doubt Greendale would have ground to a halt. However, a little like-for-like vehicle hire would have soon got him back on the road with a new post-van in no time at all.

Bumblebee (Transformers)
Last but not least are the Transformers. Saving the world from the Decepticons can’t have been easy, but with no wheels on the road Bumblebee would certainly have left the Autobots a man (sentient robotic life-form) down. However, with a hassle-free service and speedy repair, Bumblebee would be back to the battle quicker than you can say “Autobots, engage!”
Nobody can place a fee on freedom from extra-terrestrial tyranny, but motor legal protection need not be a pricey policy.

Notes for editors

Best Price FS was launched last year by Richard Harry, a well-known independent financial adviser (IFA) in South Wales following a substantial personal investment and a £200,000 grant from the Welsh Government.

The direct-to-consumer proposition offered by Best Price sits well with changes taking place in the financial services market partly caused by a raft of rule changes introduced through the UK government’s Retail Distribution Review at the beginning of 2013.

One of the key aims of the Retail Distribution Review is to move providers of financial services away from commission-based models and towards transparent fee-based arrangements. Best Price FS aims to charge the lowest fees available in the market at all times.

Life Insurance
Best Price has secured agreements with the major insurance providers such as Ageas and Legal and General. The site delivers a seamless online application process, which will further enhance the customer journey experience.

The Best Price investment platform is administered by Cofunds Ltd which administers assets of in excess of £45 billion (as at 18 October 2012). It is Best Price’s goal to offer their investment customers the cheapest route to buy and manage their investments online.
Charging structure for Best Price investments:
- 0.2% Best Price broker fee
- No initial charges on all funds
- No switching fees
- 100% rebate of natural trail commission

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