According to the Cass Business School and finance research company New City Agenda, the UK’s “toxic” and “aggressive” culture will take generations to change. Following the series of scandals involving the UK’s big four banks, the total cost of the UK industry’s misgivings have reached more than £38.5 billion in fines and redresses in 15 years.

Conservative MP and New City Agenda co-founder David Davis said “A toxic culture which was decades in the making will take a generation to turn around.”

Between 2008 and 2014, banks had received 21 million complaints. At least £27 billion of the total redress had been credited to PPI complaints alone.

Archbishop of Canterbury Justin Welby said “It is clear that much more needs to be done by all stakeholders for trust to be restored in our financial institutions.”

The Cass Business School and New City Agenda report indicates that banks have culture changes programmes under way. Cass Business School Professor and Report Author Andre Spicer said “Regulation has improved, and big banks have all implemented new programmes to improve their cultures,” he said.

“Smaller banks and challenger banks are beginning to offer the customer real choice, and often have healthier cultures.”

“Many culture-change initiatives are fragile, and their success is not ensured. It’s clear to us that much work still needs to be done,” he added.

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It’s never easy to earn money. With today’s inflation, investing in assets and products is crucial. Unfortunately, some predators want a thick slice of the cake, often using illegal ways to take away the shares of other people. Here are some scams you need to be mindful of.

        1. Online Shopping

Unless your online shopping is done through eBay and Amazon, never think twice to turn down online shopping offers that ask for your credit card information. If you offer your card details on a gambling website or unverified online shopping website, it is highly likely you get financial fraud. You could use Paypal to hide your card details and allow the online payment service to provide the funding instead.

        1. Consumer Non-Investment Fraud

Online shopping’s other danger is the purchasing of items that are not in existence. Consumers also get fake or sub-quality apparel. In some situations, these items may even be stolen. Be sure to inspect the brand logo, quality and legitimacy of your articles before you decide to take them home.

        1. Dating Scam

Many international swindlers appear through the form of online dates. They would use your emotions to have you send money to them. Some of them may also try to perform lascivicious activity during your interaction, which they may use to blackmail and extort money from you.


Couponing is a great way to save money when you’re buying things in bulk. With coupons, you could buy plenty for the price of less and walk out of a grocery with more savings and less expense than you could imagine. Of course, it takes a bit of a plan, and here are some basic steps to help you benefit from couponing.

  1. Multiple Subscriptions

Newspaper clippings won’t just do for coupon shoppers. If you really want to get plenty of coupons to use for your business, it is imperative that you subscribe to multiple magazines, newspapers and other publications. Subscribing to online website newsletters also help, including those that give you daily deals.

  1. Semiotics

Understanding the terms written on coupons is essential to save time looking for coupons and categorising them accordingly. For example, a sale may only be a term to attract customers, but it does not really mean significant savings. Most terminologies used in extreme couponing are acronyms, such as On Your Next Order (OYNO), Buy One Get One (BOGO), and Limited Time Only (LTO).

  1. The Legalities

All coupons are regulated by law and consumers must know their rights before they could use a coupon. Sometimes, manufacturer coupons are only applicable for certain branches, or some managers can decline online coupons as stated in the fine print. Bringing a hard or soft copy (via smartphones or tablets) will help you resolve disputes with establishments as well.


During the early centuries of the world, kingdoms and lords have kept their treasures inside their safe. Gold was a powerful type of currency at that time and more common commodities strengthened smaller echelons of society. However, this old way of thinking regarding money does not work in a modern, capitalist money system.

Keeping your money “inside your vault” or “inside your socks”, for a humorous term, is not the right way to ensure the value of your money stays as it is. People need to invest the money they make to sustain or grow its value. The modern outlook of money is to ensure the value of your money remains as it is, or you could make them flourish.

This is why people must be financially educated with the modern trends in keeping the value of one’s money. Banks offer savings accounts worldwide that ensures the value of your money is retained despite currency devaluation and inflation on a daily basis, throwing back to the “gold vault” era.

Money can also grow when you invest them in businesses and startups. As gold still retains its value, companies and businesses becoming bigger and better investments as they continue to appreciate. Gold appreciates, but the acceleration rate of business valuation improves continuously as it performs well.

Money in the vault is not the best idea in the world anymore. Money in the bank, in companies, and in growing stocks, is the new world way of looking and working with money.


Crunching numbers is different from seeing the value of the numbers when it represents the things you need in your budget. Budgeting and personal finance is simple if you think spending less than you earn, and putting that money where it grows will help you in your retirement indeed. However, sticking to a budget could be difficult, and here are some things to help you sort it out effectively.

1. Documentation
Every expense must be noted down to the last centavo. If you pay attention to smaller details, the more you could see your spending habits and the ending point where your money goes. Never let a single cent get past. No sure fire way to richness exists except for having a bird’s-eye-view all the time.

2. Contentment
Contentment is key to saving your money and focusing yourself on the bigger objectives ahead. Managing your expectations and understanding that the world’s desire for so many things is insatiable, they may kill themselves to live the life they want.

3. Automation
Having your money deposited early into bills and investments will save you more time if you have machines do them automatically on you. In this way, you are left with the surplus of your money, while virtually everything essential is already paid for.

4. It Is Your Responsibility
It is not called personal finance because the cause of your financial stress is another person or an event. Personal means you, and this means you have to deal with the situation on your own.


High debts make for bad credit score and credit management. Surely, not even ways to make good credit scores will help you get over your extremely high debt. Listed here are ways to help you bring down your debt to a manageable level.

1. Negotiation
Tell your lender that you are having trouble with your debt, and they may be willing to sort it out with you, albeit quite disappointed. Most lenders will negotiate and appreciate your business if you tell them as soon as you can. Many will also see your willingness to pay your debt.

2. Possible Results
It is highly likely that you have to pay a lump sum lower than your complete debt, or you will make a scheduled payment with a fixed amount yearly, which the lender will restructure with you. The lump sum repayment guarantees that you pay for less than what you owe, but it is still a higher sum.

3. Talking to Your Lender
When negotiating, be sure that you appear helpless with your financial situation to continue paying for your debts. Do not appear as if you are trying to throw away your responsibility to the lender by closing your accounts. Strive to find a mutual solution with your lenders; they will be willing to listen.


Credit advantages allow you to purchase items that you may want or need without having to save. A part of your income directly goes to the bank, who pays the merchant, and the payment increases if there is an interest rate. The same is true for all kinds of loans and mortgages. Managing your credit score effectively affords you better rates from other financial institutions.

1. One at a Time
It is alright to own a credit card and have a car loan at the same time, but it is never a good idea to have a car and a home loan at the same time if you do not have a solid financial plan. You cannot skip a repayment on your loans or else you may have to pay penalty fees, which can work against your credit score

2. Credit Card Purchases
As much as possible, only use money that you have from a debit or bank account. Reserve your credit card purchases for things that you really need, such as a new appliance or groceries. If you pay all your bills in full monthly, your credit score also increases, so make it a point.

3. Pay a High-Interest Financing
Perhaps the easiest way to increase your credit score is to have a high-interest financing and finish paying for it. Whether it is for a car or a house, banks may turn eyes on you and offer you interests that you could “ball down” towards your desired amount because of your very high score.


UK media had discovered that banks have used a regulatory provision called “alternative redress” or “comparative redress” to replace single-premium PPI with regular-premium PPI, which costs less, when refunding consumers with the former insurance policy. Lloyds, Barclays and RBS had been using the regulatory provision for quite some time, with very few complaints about the redress coming from consumers.

According to journalist and then-finance employee Cliff D’Arcy, it was “a scandal coming out of a scandal.”

Banks are allowed to deduct only regular-premium PPI costs from consumers in special cases. Instead of fully refunding consumers for a mis sold PPI, banks assume through the provision that they have merely sold a minor, incorrect product.

Lloyds was found to have used the regulatory provision from February 2013. Barclays had used the provision from October 2012-2013. RBS had used the provision from January 2013 onwards.

Claims management company PaymentProtectionInsuranceClaimsCo advises consumers to check PPI claim offer letters for any clauses including “alternative redress” or “comparative redress”, or call their banks and ask if they were given the regulatory provision and demand their full compensation.

Should their complaint fall on deaf ears, it is advised they seek the help of a claims expert or file their claim with the Financial Ombudsman Service.


There is no doubt that you need electricity, heat, water and other basic utilities in order to live comfortably; however, you don’t need to spend an arm-and-a-leg in order to maintain your comfort level. If you are sick and tired of shelling out tons of cash each and every month to your utility providers, it’s time you took a stand and cut your costs.

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Don’t know how to go about reducing your utility bills? Here are some helpful suggestions:

Money Saving Tips

  • Use Thermal Drapes: Yes, there is such a thing as thermal drapes, and yes, they can help you save money on your utility bills. These drapes are usually made of super thick material, have two layers and are backed by special material. Hang them over your windows and you can keep your heat in during the winter and keep the heat out during the summer. You can find them in tons of colors and styles.
  • Maintain a Temperature. Instead of constantly putting your heat up and down, keep it at the same temperature. Find a temperature that is pleasant, like 72 degrees F, and keep it there. When it’s colder out, put on some layers and when it’s warmer, take off those layers. Constantly moving your thermostat up and down can really impact your fuel usage.
  • Turn it Off. Never leave lights, a TV or any other type of appliance on that isn’t in use. If you do, you are literally just throwing money out of your windows. And, make sure everyone in your house is on board with turning things off!

With a few minor adjustments, you can save a tremendous amount on your utility bills, yet still live comfortably. Take that extra money you save and put it toward other bills, savings, or maybe treat yourself to something nice.


For many people, eating out is something they look forward to. This gives them the chance to get out of the house, have some great food, and avoid the preparation and cleanup process.

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Of course, there is something else you get when you eat out: a bill for the food.

Although you go into the process knowing that you will have to pay for what you order, it is safe to say that you don’t want to overspend.

How to Save

Here are three simple ways to keep cash in your pocket when you decide to eat out:

  • Take advantage of coupons
  • Opt for restaurants that are known for offering quality food at low prices
  • Don’t be afraid to take advantage of any specials that are being offered

In today’s day and age, competition among restaurants is greater than ever before. For this reason, you should be able to find coupons for a few of your favorites. With these in hand, it is much easier to choose a restaurant that you can afford.

As you know, some restaurants are cheaper than others. You may not want to eat at these establishments all the time, but here and there you may want to consider doing so as a means of saving money.

Did you check on the specials? If you are able to save money by ordering a special, you might as well do so. Along with this, keep in mind that some restaurants offer lower priced items at certain times of the day. This means you can save by simply adjusting your schedule.

Just because you want to have a meal outside your home it doesn’t mean you need to overspend. With these three tips, you can keep cash in your pocket while still eating at a local restaurant.