Newspaper article The Journal (Newcastle, England)

Whip Your Summer Finances into Shape; AS BUDGETS FEEL THE STRAIN FROM HOLIDAY SPENDING, VICKY SHAW LOOKS AT HOW YOU COULD REIN YOURS IN

Newspaper article The Journal (Newcastle, England)

Whip Your Summer Finances into Shape; AS BUDGETS FEEL THE STRAIN FROM HOLIDAY SPENDING, VICKY SHAW LOOKS AT HOW YOU COULD REIN YOURS IN

Article excerpt

Byline: VICKY SHAW

IT'S EASY to over-indulge over summer. Whether you've already overspent or are in danger of doing so, why not try and give your budget a summer workout? For many people, the summer can be just as expensive, if not more so, than Christmas. So if you've got a bit of spare time to sort your finances, it's worth taking some time out from the sun to work out ways to make summer spending a little less painful.

Here are some tips from Brian Brown, head of insight at financial information business Defaqto.

| Get a cashback credit card USE it for major purchases and get money back off your shopping. Remember, you should always pay your card back on time.

| Look for balance transfer credit cards with no fees IF YOU have credit card debt and can't pay it off all at once, you might want to consider taking out a new card with 0% interest, which also lets you transfer the balance with no extra fee.

Offers for introductory 0% balance transfer deals with no fees include deals from Barclaycard, Sainsbury's Bank and Lloyds Bank.

| Borrow on a money transfer credit card IF you're making a big purchase such as a car, or new kitchen and need to take out a loan to pay for it, consider instead using a money transfer credit card.

You transfer the money you need into your current account and pay a fee, but then pay no interest for periods as long as 32 months.

street banks don't always the best Depending on individual circumstances, this can often work out cheaper than the cost of a personal loan. Watch out for special offers - sometimes card providers have special deals offering money transfers with lower fees.

| Switch your current account provider to get a reward FOR example, M&S Bank has been offering a PS125 M&S gift card for switching and up to an addi-tional PS60 when you stay for 12 months, while Halifax has been offering PS75 cash for people to make the move.

| If you need a personal loan and are getting a quote from your lender, see if you can get a lower interest rate by taking a larger loan SOME lenders charge lower interest rates if you borrow more, so the total amount you repay might be lower if you borrowed more money. …

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