Improve Money Rules In 50 Words. Suggest easy changes for our politicians

wiganshale

When shopping for foodstuffs, Supermarkets give prices per 100g etc. so that we can make comparisons without needing a calculator. I would like to see financial services made to comply in a similar manner.
E.g. a) car Insurance, what factors increase my insurance rate and what have no effect (e.g. your estimate of the car's value)
b) Media package's. Sky, Virgin offer essentially the same services but they are tweaked and given hidden extra's so that you can not make a fair comparison. I'd like to a standardised package with a price comparison and a full and clear explanation of hidden extra's and what the differences are in each companies nearest equivalent.
Or, possibly take a Virgin package and compare the nearest Sky, etc. package to to it.
c) Isa's. Here there is so little significant difference in interest paid that the significant comparison lies in hidden costs such as withdrawal charges.
d) Fuel tariffs, which don't even have the same description for the same deal such as dual fuel / direct debit/ paperless billing labelled as "dual econmomy" or "dual paperless"

Every effort seems dedicated to preventing the consumer from making a balanced decision.

zzzatang

Publish Interest Rates - Don't hide them

All banks and financial institutions offering credit or debit accounts should be forced to publish the interest rates on the statements(rarely any-one does!), online account login (Halifax stopped publishing them-while others don't!), telephone & in-person visit (Santander staff in-branch couldn't confirm savings interest rate!)

EdinPheonix

Using Credit Cards on Gambling Websites should be banned

Credit Cards should be banned from being used on Gambling Websites. The UK is turning in to a nation of gamblers, with adverts on TV for Casinos & Bingo etc. In years to come the politicians will wake up to how much of a problem the UK has with gambling and believe me it is becoming a huge problem for this country.

savvyconsumer

Daughter got into debt when travelling, but set up repayment arrangements with creditors including HSBC immediately on return. When her first pay cheque went in, HSBC withdrew the lot, leaving her with broken arrangements, and no money even to get to work, let alone anything else like rent/food....
Shouldn't be allowed.

pipsqeak

The discrimination of those for any reason at all who are not allowed to enjoy discounts for payment by Direct Debit is nothing short of obscene because it affects mainly those in the lowest income bracket. Not only this but those less able are `also penalised by the imposition of pre payment meters and the like. There needs to be some legislation that outlaws these practices.

joeblack066

tina1946 wrote: »

If you have to go on benefits and have one child, you should only ever get benefits for that one child. If you then have more children, it's got to be down to you. Your problem, not the taxpayers. It will discourage immigrants/!!!!!!!!!!s/workshy from abusing our benefits system - and save £millions

I heartily second this - working parents have to make a sound financial choice to have more children as they know that their money will go down, in lost wages, nursery care etc etc. Unemployed parents know that their money will go up. Unacceptable!

consumerfriendly

Stop Insurance Companies taking unauthorised money from bank accounts via Automatic Renewals. Remind consumers insurance expiry dates - yes! Try and retain consumers business - yes - as long as it's ethical! Taking unauthorised money under the Marketing ploy of Automatic Renewals; NO, STOP IT NOW. It's theft, pure & simple!

consumerfriendly

JLD1 wrote: »

Can we have a ban on banks and financial services companies sending out application forms for cards and other servies prepopulated with personal details. These can be used to establish identities to access other services e.g. telephony, power supply, benefits claims

Absolutely ...... protect personal identity all the way!!!:beer:

Mandy_P_3

Often we are left with multiple pensions because the transfer costs carry such huge fees that consolidation is not cost effective. This means that we pay management charges on multiple pensions. Stop this punitive method of tying us into each pension and complicating our finances.

SunderlandBlackCat

sstuchfield wrote: »

Change the math syllabus that’s taught in schools. Cos, Sin, Tan, Pythagorean Theorem etc are all very well but this dose not actually help the majority of the next generation.
Why not relate math studies to bank statements, bookkeeping and percentages to mortgages Etc. Real life issues which majority of students will need once leaving school.

That's home economics surely?

Though I would agree that there should be more emphasis on life skills in schools, particuarly since we appear to have a generation of parents where those skills have become rare, dumbing down the maths curriculum even further isn't the answer.