plonkee money an english-er's thoughts on personal finance

November 30, 2008

driving home for Christmas

Filed under: shopping — Tags: , , , , — plonkee @ 7:12 pm

I never get tired of thinking about personal finance. As usual though, I’m tired in general. I can’t wait for Christmas and New Year – mostly because I have a 10 day stretch without any work, half of which I’ll spend with my family and the other half in my own house.

However, going *home* for Christmas means travelling – which is never free. I don’t have a car, so I go by train. The standard open return fare for my trip home is over £100. Buying in advance, with a non-flexible Advance Purchase ticket, it cost £10. That’s like a 90% saving.

book in advance

Travel in general is cheapest booked well in advance. Plane tickets need to be bought more than six months in advance to get the cheapest deals, and rail tickets probably a month in advance – depending on the popularity of the route/time.

planes

If you need to fly somewhere at Xmas you probably should have bought your tickets already, although you may still be able to snap up a relative bargain if you’re willing to travel on either Christmas Day or (possibly) Boxing Day.

The following screenscrapers, metasearchers and brokers are reputed to give good results:

trains

If you need to get the train, now is the time to pin down the exact details of your journey(s) so you can try and bag one of the remaining advance purchase tickets.

thetrainline.com sent me an email telling me about a new farefinder tool that they have. If your journey is on one of their top 100 routes (generally between major cities), then it will tell you the lowest available ticket prices in four time categories in the week around a date you specify.

It’s a little convoluted to get to the ticket booking page, but it’s a nice idea. There’s similar functionality at Find Cheaper Rail Fares @ Transport Direct, which also has its limitations.

Wherever you buy your train tickets, watch out for booking fees, and don’t pay them. You can always get the exact same ticket without paying a booking fee as generally all the train operators can book tickets from anywhere to anywhere.

automobiles

If you’re going to be driving, don’t forget to allow plenty of time – you can work out the best route and see anticipated congestion using the Transport Direct car journey planner – it also calculates the likely fuel costs of your journey.

November 25, 2008

what Obama could learn from Britain

Filed under: Uncategorized — plonkee @ 10:40 pm

Well, a couple of people are interested to know what I think Barack Obama can learn from the British economic situation.

Let’s start by saying that I am an out and out liberal, in both the British and American senses. The chances of me voting for the Conservative party are slim, and (were I given the opportunity) for the Republicans, non-existent. I also vote primarily on social issues rather than economic ones – taxes are less important to me than civil liberties and freedoms.

I should probably also point out that, as evidenced by the current recession, the British *way of doing things* is far from perfect. Our economy is heavily dependant on financial services so this recession is predicted to hit us hard.

On the other hand, there are a few things that we do differently to the Yanks, where I think they could learn a thing or two.

healthcare

Oooh, the big taboo issue amongst personal finance bloggers. My friend David at My Two Dollars has seriously been vilified for his wish – based on his own experiences – for healthcare reform. I don’t agree with him about everything, but I think he’s quite right to point out that if you have a socialized fire service then – ideologically speaking – a socialized health care system is no worse.

Now, I’m not exactly proposing that Obama institute a version of the NHS. But, the issue that I have with American healthcare is that it’s anti-entrepreneurs. The question that comes up most when an American says that they are planning to become self-employed is “What about health insurance?”. Do you know what? The most common answer is that their spouse has good health insurance. If you can’t see why that’s not good enough…

The great thing about the British system is that in that sense, healthcare is a non-issue. It should not be prohibitively expensive to get healthcare if you are self-employed. How do businesses start? They start small, usually by someone taking a risk with their own money. I don’t know where taking a risk with your health should also be coming in to it.

tax

In the UK there’s an organisation called the Campaign for Plain English. There mission is for information to be provided clearly, and in a way that most people will understand. As a result of their work, all government departments have guidance and require that public documents are written in plain English.

Now, what does this have to do with taxes? Well, I’ll just ask if you’ve ever had to fill in an American tax return? I have.

Several years ago I spent a summer as a J1 exchange visa student working in North Carolina. In order to get back the taxes I was owed, I had to fill in a 1040EZ NR. It’s a good job that I pronounce “Z” as “zed” because I wouldn’t have described it as particularly easy. And I do know that it’s the easiest one.

Having the tax stuff easier to understand would, on average, save people money. If it was easier to understand, more people would be able to complete their tax returns without paid assistance. They would also be more likely to file the right taxes and earlier, saving potential penaties.

Maybe in the great scheme of things, this is not all that big a money saver. But I’ve seen what’s happened over here. When you make government documents easier to understand, people feel empowered – it’s almost like the government serves the people rather than the other way round.

but, don’t do this…

Well, we don’t do it as much as we used to, but the British government has had a terrible habit of buying up failing companies – particularly car manufacturers – and then not performing miracles on their balance sheets. I’d advise against anyone else doing this either.

Sure, a well managed decline is better than a sudden bankruptcy but what on earth makes anyone think that a bunch of politicians are good at interfering in stuff that they don’t know anything about?

Apparently 3m Americans are indirectly employed by the big three *auto manufacturers* – about 1% of the population. No matter what Obama or anyone else does, I bet this proportion is going to decline. Any money would probably be better spent helping people re-skill themselves than in propping up failing companies.

remaining unsaid…

As I said earlier, I vote on social rather than economic issues.But I was asked to write about economic issues, and so I have.

I’m a values voter and I value non-discrimination, ending poverty, promoting peace, preventing torture and not wrecking the entire planet for future generations. In some of those areas, I think the Americans really could learn a little from the British.

November 24, 2008

Happy Holidays – free e-book from the m-network

Filed under: Uncategorized — plonkee @ 12:16 pm

So, I know that saying “Happy Holidays” is hideously American, but my fellow m-network members are all Yanks, so it kind of makes sense. Anyway, we have a free e-book for you to download, themed around money saving tips for the festive season.

Free e-book – Money Saving Tips for the Holidays

Now, is a good time to get it because there’s only like a month to go before the big day, so why not download the book, and let me know what you think.

Merry Christmas.

This e-book is copyright M-Network; however you are allowed to distribute to anyone as long as the e-book is unmodified and free. Please feel free to distribute this e-book to anyone else that you think might benefit from reading it. Each of the articles is copyright to the respective authors and is not allowed to be distributed outside of this e-Book without express permission of the author. Special thanks to Gather Little By Little for assembling all of our ideas into this one book!

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