No Nonsense Marketing From Doug Prentice

What ever happened to the interest on our savings! It’s oh so easy to blame it all on these horrible bankers, isn’t it? We all then have a moan to our nearest and  dearest about the state of the economy and proceed to think about something else.

But HOLD ON! When did most of us last check the interest rates we get from any savings that we’ve managed to hang on to whilst the financial hurricane lays waste to all around us? How many of you are like me – we put away what we can when there’s a bit to spare into the best offer account that’s going at the time. And then what do we do? We promptly sit back with a self righteous glow as our money grows at the fantastic opening rate.

If only! What happens in reality is that our super introductory “new customers only” rate quietly and without us noticing declines to a “we’ve got their money now” rubbish rate. At this point I have to declare myself as “gulity as charged”. But no more. This week I decided to check the rates on my ISAs. What I found was a fantastic 1% interest rate. Whooeee! Free beers on me chaps.

This is easiest if you have access to your savings accounts on line but the same result can be achieved by phoning your bank/building society. It just takes a bit longer.

A bit of investigation revealed that rates of 3.5% could be achieved with a minimum of effort. The secret I discovered was not to withdraw your money from any ISAs you have, but to transfer. Apparently you can transfer your existing ISA pot (as long as it’s within  the limits) to another provider without falling out the ISA scheme. But first check the withdrawal terms in your current savings plan. For more information on this visit Martyn Lewis website where you’ll find all best deals and how to get them.

It took me about 10 minutes to fill out the forms and zip them off into the ether. In a few days I’ll get back the hard copy forms to sign, post off and bingo I’ll be making over 3 times the interest I’m currently getting. OK. I know it’s not a fortune but if you’ve managed to build up say £10,000 in ISAs over the years, going from 1% to 3.5% will give you extra £250 approx per annum.

Add that to the £250 saving on the broadband deal  (see last post) and suddenly you’re up £500.00.

Now before you sit back in that self righteous glow make a date in your diary to keep a regular check on your interst rates.

Well. here goes – my first ever blog! Who says old dogs can’t learn new tricks? I’m into week 2 of John Thornhill’s Coaching Course and John suggests that I write a blog about things I’m interested in think that other people might have an interest in. That’s a pretty broad canvas but not as broad as pure white page when you start.

So I’ll adopt my wife Barbara’s approach of writing it as you would say it. This course of John’s is so easy to follow – in modern parlance it does exactly what it says on the tin. If your reading this you’re probably like me and have bought a few of these get rich quick (more like get poor slowly) books that leave absolutley overwhelmed with stuff or have a support system  that makes snail mail appear hyperactive. Well 2 weeks into John’s course and everything works and my emails with the odd query are answered quickly and concisely.

On the eBay side (my modest living) I hope you other Ebayers who bring product in from $ sources have got all your stuff in or at least have your exchange rates tied up. last time I bought it $1.85 to the £ and now it’s down below $1.50 and falling fast. Better keep an eye on non UK European eBayer seller as the they may enjoy the benefit of the stronger Euro and be able to sell products bought in $ on the UK site at keen prices.