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Wednesday, 3 March 2010
Paying your benefits or salary onto prepaid cards
Some prepaid card providers have been advertising the benefits of having your salary or state benefits paid onto them. But the charges can be high - make sure you understand the costs and the alternatives.
Bigger utility bills for things like gas and electricity have been regularly hitting the news. Whether you are looking to get a place of your own, or already have one, you'll need to try and keep living costs down wherever you can. As well as covering all the bills, you need to consider insuring your stuff in case of theft or damage. Moving in or out also costs money, so be prepared.
These articles provide help and information on:
Quick intro
Moving into rented accommodation
You will usually have to pay a month's rent in advance and a deposit. Deposits are often around one or two months' rent. So if the rent is £500, you may have to put down £1,500 before you've even moved in. You also need to check what's included in the rent. Are any bills included, for example the water or council tax? Make sure you know what white goods (fridge, washing machine etc) come with the property, and what furniture. Will you need to buy any of these? Also find out if the phone line is connected. If not, how much will it cost to get connected?
Costs of running a home
You should total up all predictable bills before you move in to make sure you can afford them:
You can plan how and when to pay, as well as what you'll be paying for. Setting up monthly direct debits may help you to budget. Most utility suppliers allow you to do this.
Insuring your stuff
While we hope they don't, nasty things can happen. Pipes can leak and homes get burgled. Consider insuring your stuff. You might not think you have much, but furniture, curtains, and even clothes and CDs can add up to a surprising cost if you have to replace them. If you are renting, you're likely to need a 'contents' policy. Shop around and check what each insurer does and doesn't cover. Before you sign up, consider:
Find out more
We've put together a short list of resources you may find useful. This is a cross-section to start you off, but you may want to do some more research. Some of these resources are on other websites, so you need to be aware that the FSA is not responsible for content you find on these websites.
Users can rate articles with between one and five stars; this is not an FSA rating. But we have marked the articles 1-3, based on how detailed they are. If you are looking for a very quick introduction, look for level 1; if you are ready to find out more, go for a 3.
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