Record Fuel Prices Drive Down Car Usage in 2011By Moneysupermarket.com, PRNE
Thursday, January 20, 2011
Two Thirds of People Have Been Forced to Change Driving Habits
CHESTER, England, January 21, 2011 - Two thirds of Brits have been forced to change their driving
habits because of record fuel prices, according to new research from
moneysupermarket.com (www.moneysupermarket.com/car-insurance/) .
Britain's number one comparison site asked site users whether
record fuel prices were forcing them to change their driving habits.1 The
results found two thirds of respondents (67 per cent) admit record costs have
taken their toll; 62 per cent have reduced the amount of time they spend
behind the wheel, and five per cent claim they have stopped driving
altogether because of the costs.
However, almost a fifth (17 per cent) are sticking to their
usual driving habits as they can just about still afford it, and a further 16
per cent have not changed their driving habits at all.
Kevin Mountford, head of banking at moneysupermarket.com said:
"With the effects of the VAT rise taking hold, and the latest inflation data
highlighting the pressure on our wallets, fuel is another day to day cost
that people are really struggling with. Now really is the time to take action
across the board with your finances to make the most of your money so you
don't have to resort to changing your lifestyle dramatically. Apathy won't be
rewarded, so seek out the best deals for your circumstances to make the most
of your hard earned cash.
"It is easy to make the mistake of sitting on average products
which do not give a good rate of return or cost far more than they need to.
Significant savings can be made by switching to a better deal on all your
financial products. These savings don't even require a change of lifestyle,
but simply require a few minutes of research to check what deal you are
currently being offered, comparing other products and changing to a more
competitive deal if necessary."
moneysupermarket.com's top tips for taking control of your finances with
the best deals in the UK:
Reduce expensive borrowing with a 0% balance transfer deal
Switch any outstanding credit or store card or other debt
balance to a market-leading card and get up to 17 months at 0%, reducing your
monthly outgoings significantly.
Barclaycard Platinum is the market-leading balance transfer
card. Not only does it come with 0% for 17 months (typical 16.9% APR) and a
competitive 2.9% balance transfer fee, you also get a GBP20 refund when you
apply to transfer GBP3,000 or more by January 31. Take advantage before it's
Consolidate your debt with a low-rate loan
If you're paying a fortune in interest on credit cards, store
cards, loans or overdrafts, think about consolidating that debt with a
Alliance and Leicester personal loan is the cheapest in the
market. There's a typical rate of just 7.2% on loans of GBP7,500 to GBP14,950
for up to five years.
Protect your cash from the taxman
Use your cash ISA allowance before April 5 and protect up to
GBP5,100 from the taxman. Fight high inflation too, with one of the top
Santander's Flexible ISA is paying 2.85% AER tax free
(variable) for 12 months. The account can be opened with as little as GBP1
and you can save your full allowance of GBP5,100. No cash ISA transfers in
Take advantage of the January sales with a 0% purchase card
If you're hitting the sales to shop, using the right credit
card can mean you pay no interest for 12 months, just make sure you can pay
it off at the end.
The best deal right now is the Tesco Clubcard Credit Card. Not
only does it offer the longest 0% period on purchases at 13 months, with a
typical APR of 16.9%, you'll also earn extra Clubcard points when you shop.
Overstretched yourself? Don't worry, help is at hand
Whether you are looking for help getting your finances back on
track or a complete solution to pay off your debts, it makes sense to talk to
an OFT-approved expert and find the right solution for you. Their advice is
Bundle your phone, TV and web to save cash
By signing up for a TV, landline and broadband package from
just one supplier, you can save an average of GBP240 over the year.
Switch energy firms and save hundreds
People switching from their gas and electricity provider's
standard tariff to the best deal for them save an average of GBP172 a year.
That money is better in your pocket than theirs!
Save money on your car insurance
While you don't want to compromise on cover, you could save an
average of GBP280 by comparing policies.
Cover your contents for less
Don't just renew your home insurance, take a few minutes to
scour the market for a better deal and save an average of GBP131 a year.
Take advantage of discounts, vouchers and special offers
Make 2011 the year you compare everything. Take a few minutes
to use our shopping comparison page or discount voucher bank and save money
Contact: Nicola Parry; moneysupermarket.com; email@example.com
Contact: Nicola Parry; moneysupermarket.com; nicola.parry at moneysupermarket.com
Tags: Chester, England, January 21, Moneysupermarket.com, United Kingdom