Posts Tagged ‘Payday Loans’


Ethical shopping needn’t cost an arm and a leg


Friday, December 10th, 2010

Given the last blog on the shocking treatment of pigs on some European farms, including in the UK, we here at 247Moneybox.com noted that buying ‘high welfare’ doesn’t necessarily mean free-range and organic, which we all know costs extra. However, there are ways to keep a clear conscience and not have to fork over the extra pennies.

For example, reuse your plastic bags or, better still, why not purchase a few durable shopping bags and use them instead? These are available in any number of patterns and styles – such as the familiar tartan ones often used by market traders transporting their wares – and indeed are fast becoming all the rage.

Another thing you can easily do is to choose your produce carefully. If you buy seasonal fruit and veg, much of the contents of your shopping basket will come from the UK, which involves a much lower transportation footprint than those winter strawberries flown all the way from the southern hemisphere.

In a similar vein, some supermarkets have air travel stickers to help you make an informed choice. In addition, you could go the Good Life route and grow your own produce. It doesn’t have to be River Cottage but you’d be surprised what even a few plant pots can produce to supplement your weekly shop for a fraction of the cost.

With Christmas approaching, the pressure to “buy buy buy” is enormous. This includes food that you wouldn’t normally buy and indeed in quantities to feed a medium-sized army. There are lots of recipes out there for using leftovers creatively and to make them stretch further.

granny

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I’ll have CoD with chips, please!


Monday, November 15th, 2010

Isn’t CoD something you have battered with chips? Turns out its not, and if we are being honest the joke was just too good to miss!

Anyway CoD is a natty acronym for the massively successful war-themed first-person shooter death ray series Call of Duty. CoD has just released the latest instalment Call of Duty:Black Ops, shattering first-day sales records in the UK.

Pretty excited here in 247Moneybox.com towers and first attempts at the game have not disappointed. Looks like the market agrees, as Black Ops has grossed more during its launch than the whole UK entertainment software market over the past couple of weeks combined! Last week became the highest grossing week in UK entertainment software history, with £113.8 million in sales. The last record breaker was £107.6 million, back in 2008.

These large numbers indicate consumers are paying on average £2.50 more than they did for launch copies of Modern Warfare 2 last year, despite both games having an RRP of £54.99. This equates to a price hike at more than double the current rate of inflation as measured by the consumer prices index, and means that the latest CoD is roughly £1 more expensive than last year in real terms.

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Avoid raiding the piggy bank and your life savings with 247Moneybox.com


Friday, November 12th, 2010

ING Direct have released statistics showing that Britons have been delving into their nest egg in order to cover the costs of living today. Savings have fallen by about 14% on average among Britons during three months. That is a reduction of £279 to £1,771; the amount deposited to savings accounts is the lowest since 2009. Most alarmingly, a quarter of all people had no savings at all.

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Guy Fawkes on a budget


Friday, November 5th, 2010

 fireworks1

Remember, remember the fifth of November! Yes, it’s that time of the year again, and, while not blowing anything up must always be the prime concern of Guy Fawkes Night, how can you ensure your wallet also gets through the evening intact?

For those of you who are having smaller private displays, shop around the supermarkets for the best deals. You can also pick up some great deals from online firework retailers.

There is also the option of the thousands of free fireworks displays all over the country for you to ‘oooh’ and ‘aaah’ at to your heart’s content! 

All of us at 247Moneybox.com wish you a safe and memorable Guy Fawkes day!

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247Moneybox.com and Compassion in World Farming – new campaign starts with 5k Santa run


Thursday, November 4th, 2010

We are all pleased to announce that we plan to make Compassion in World Farming (CIWF) our fundraising focus for the coming year.

Cruelty to animals is something we feel strongly about, particularly when you consider the impact of modern intensive farming on their welfare. Compassion in World Farming has been established for over 40 years and runs a peaceful campaign with the aim of ending all cruel factory farming practices.The Farm Animal Welfare Charity

Some of their achievements to date are truly remarkable, and include:

  • An award-winning undercover investigation that exposed the sad realities of factory farming techniques so prevalent in modern day practice. By doing so they have been able to draw substantial media coverage on animal welfare.
  • Changing the landscape of EU policy with regard to its recognition of animals as sentient beings that feel pain; this has paved the way for outlawing battery cages for egg-laying hens, narrow veal cages and sow stalls across Europe.
  • Good Egg Award incentives for retailers that choose free-range/barn sourced eggs these have been distributed across many major  international retail and restaurant outlets, thus raising corporate awareness.

Of course there will always be obstacles that need to be overcome, and the sponsored run will be the start of a fundraising campaign that supports CIWF in addressing these challenges.

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Hungry for progress: more misery as food prices rise


Thursday, November 4th, 2010

You’ll see a trend if you look over some of our most recent blogs and I’m not talking about customer satisfaction as seen in our last post.

No, we are of course talking about the “doom and gloom” of this dire economic situation. At the risk of sounding repetitive, we at 247Moneybox.com do feel it is our duty to keep you up-to-date with the ups and downs as propagated by the media.

Today the topic is food prices, with the news reporting on new findings by the British Retail Consortium. Their price survey shows a sharp increase in the price of wheat and corn that has increased what The Guardian called “inflationary pressure”.

As a result of this, consumers are paying more for bread and meat, while rising oil prices and a seriously poor harvest which, incidentally, is the first we’ve heard of it in the City have hiked up fruit prices to their highest level in 18 months.

With Christmas coming around and the inevitable VAT rise in January, things are starting to look gloomier than the weather! Hurrah for payday loans then, for you’ll never have to feel pangs of hunger when you have access to extra cash when you need it so visit our website and apply today.

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Recession? Is it a case of glass half empty or half full? Should we be tightening or loosening the belt? Questions we want answered!


Wednesday, October 27th, 2010

We would have all heard the apparent ‘good news’ spreading through reports this morning, telling us that GDP grew 0.8%, doubling forecasts that predicted growth at 0.4%. Well, it’s not much but it’s something.

This has been put down to the growth of the construction sector, so all you hard-working labourers and engineers should give yourselves a pat on the back and get yourselves a well earned beer this weekend!

Here at 247Moneybox.com we won’t let ourselves get carried away though, bearing in mind this data was gathered before the cuts were announced. And it seems like consumers won’t either.

Research gathered by Gocompare.com shows that people are still tightening their belts in the hope of saving some money and improving their credit rating.

Which is not really surprising, what with the nation’s workforce in fear of job losses stretching across public and private sectors. We don’t intend to scaremonger, but it will be interesting to see what we’re told about GDP at the end of the current quarter.

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The early bird doesn’t catch the worm


Tuesday, October 19th, 2010

We’ve all been there.

Yes, as Christmas nears, children everywhere begin to brim with excitement as their unfortunate parents begin anxiously planning ahead for a nightmare bout of shopping in preparation for that ’special day’.

You’ll find some parents will have everything ready by early November presents stacked up, food marinated and stored and they’ll look over at their less well-organised counterparts while smugly satisfied at their own endeavours and the bargains they’ve acquired.

It may not come as a surprise to some, but an article on thisismoney.co.uk reports that due to the competitive nature of business, or ‘price wars’ as they’re known, it’s actually easier to snap up a good deal in the lead-up to Christmas.

Reporting on research carried out by comparison website mySupermarket.co.uk, the suggestion is that apparently leaving your shopping until later can actually save you money, particularly when it comes to food.

The examples cited include a 435g Christmas collection of chocolates sold at Tesco, that currently costs £6, only cost £2.75 last December, while a 1kg tub of Quality Street sold at £10 is usually sold on a ‘buy one get one free’ deal.

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Capping loan interest rates will hurt consumers


Sunday, August 29th, 2010

The Office of Fair Trading (OFT) decided against capping interest rates in the payday loan industry back in June, as stated in The Guardian. This met with a lot of criticism; in particular, people have argued that the high levels of interest are exploitative and that they prey on people who are susceptible to accumulating debt. However, we at 247Moneybox.com feel that this criticism is unfounded and argue that this industry offers a very popular and above board service regulated by the Financial Services Authority (FSA).

An unreasonable market, on the other hand, may assume that the prices are unfairly inflated above what they cost and that a few companies receive a disproportionate amount of profit. An unreasonable market may have an oligopoly or monopolistic structure (where only a few companies dominate the market), and there would be obstacles to new companies joining the market and sharing the profit. However, if you read these articles from The Guardian or BBC News, you’ll see that the payday loan market has swelled with new competitors and new customers.

If the price mechanism that companies compete on gets frozen, then they will have to find another way to generate revenue to break even; this will come in the form of excessive late charges, administrative fees and other hidden costs. Who will be the people who lose out? The people who apparently are more susceptible to becoming indebted.

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Growth of the payday loan industry explained


Wednesday, August 18th, 2010

Many broadsheets have noticed the growth in the payday loan market. In general it is reported that the number of payday loans being offered has quadrupled since 1996. Some 1.2 million people are borrowing a total of £1.2 billion altogether. Most journalists have obviously pointed out the risk and dangers of borrowing, constantly referring to the idea that everyone struggles to pay back the loan and that the industry takes advantage of people who try to be prudent, pushing them into a ‘debt cycle’. In particular, critics highlight the high rate of APR that payday loans involve.

Here at 247Moneybox.com we’d like to point out the flip side of such loans. What the critics don’t seem to recognise is that this is an emergency service. These loans are offered on a very short-term basis. They are usually used to ensure that people don’t become overdrawn or late in paying their utility bills.

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