Spotlight on

Tuesday, 23rd December 2008

Bank of England interest-rate change
On the 4th of December 2008, the Bank of England again reduced their interest rate (often referred to as the 'base rate'), to the lowest level since November 1951.

But, what does that mean for customers?

Budgeting tools

Keeping track of your money is important but it can be difficult. We have put together some interactive tools that will help. Some of these resources are on other websites; so you need to be aware that the FSA is not responsible for content you find there.

There is more information on budgeting in the 'Spending money' section.

When you see an external web address in the list below (something that starts with http://), this indates that by clicking upon the link, you will be seeing content from third parties, of which the FSA does not control. You will have the power to report offensive content and broken links.

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External links

Budget calculator

This simple budget calculator will help you work out how much money you have available each month.

http://www.moneymadeclear.fsa.
gov.uk/tools.aspx?Tool=
budget_calculator

FSA tables

Use the FSA's impartial tables to shop around. You can compare similar financial products from different companies. There are tables for mortgages, savings accounts and more.

http://www.moneymadeclear.fsa.gov.
uk/tools/compare_products.html

Consumer Direct

If you need a loan or want to apply for a credit card, it's important to make sure you get the best deal - and to be certain that you will be able to manage your debt. Here are 10 key questions to ask before borrowing.

http://www.consumerdirect.gov.uk/
before_you_buy/money_and_credit/
key-questions/

FSA Loan Calculator

You can use this loan calculator to work out what your monthly repayments might be for various loan amounts, repayment periods and annual interest rates. This could help you decide whether you can afford the repayments, and help you compare different loans.

http://www.moneymadeclear.fsa.gov.
uk/tools.aspx?Tool=loan_calculator

FSA Debt test

Loans, credit cards, mortgage payments, bills - should you be worried about what you owe? Our debt test will help you to find out how likely you are to have problems with your borrowing over the next year or so.

http://www.moneymadeclear.fsa.gov.
uk/tools.aspx?Tool=debt_test

Tools & calculators

This is Money has a wide range of interactive calculators. Cheaper fuel bills, latest exchange rates, mortgage repayments, the cost of motoring or the value of a long-term savings plan, you'll find the answers here.

http://www.thisismoney.co.uk
/calculators

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