More and more of us pay bills by direct debit or credit card, but do you know your rights if a mistake has been made?
You probably have better things to do than spend time writing out cheques to pay your bills. But if you use an automated payment method, what happens if it goes wrong?
How do you pay your bills? By cheque, telephone or internet banking or direct debit? Already millions of us opt for the convenience of direct debit or standing order; not only is it less of a faff, many companies give you a discount as well. But do you know exactly what the difference is between the different payment methods or what your rights are if there’s a problem? The financial ombudsman says that many consumers don’t know the difference between the different payment methods and – worse than that – neither do some bank staff.
There’s never a bad time to improve your money management skills, and even small changes can make a big difference
Are you someone who finds it easy to budget, pay off debts and build up savings? Or do you struggle to make your wages last the month and find it hard to resist the temptation to splurge? If it’s the latter, do you feel comfortable with the way you deal with your money or would you rather have a little more control?
A budget is the best way to work out what you can - and can't - spend each month
There’s lots of research that shows that women are better at budgeting than men. Earlier this year an insurance company asked thousands of people about their spending, saving and shopping habits. It found that women were more likely to make cutbacks to their spending because of the recession than men. And drawing up a budget is the best way to work out exactly how much you can afford.
