Top premiership footballers are playing a version of money Russian Roulette during nights out.
The one with the smallest wad of cash in their pocket picks up the tab for the outing – proving costly when everyone is knocking back Cristal Champagne at £500 a time and Grey Goose Vodka at £200 a time.
The size of the wad could be as much as £50,000, but some bar bills at swanky hotels can top £15,000.
However, if, unlike cavalier footballers, you’re not surrounded by a swarm of security guards, then hitting the town with a bag loaded with cash might not be the best idea, says MoneyExpert.com. There are safer ways to spend.
Debit cards have been around for 20 years now and 84 per cent of UK adults have one, according to APACS, so there’s really no excuse for insisting on cash.
With almost all terminals now upgraded to CHIP and PIN, paying with a debit card is even easier. With debit cards on the rise, the good old fashioned cheque may, sadly, be on the way out.
There were just 5.3million cheques issued each day in 2005 compared to 11million a day in 1990 when cheques were at their peak. With stores like ASDA and Sainsbury’s, as well as the London Underground no longer accepting them it seems that the writing is on the wall.
If you don’t want to use a cheque then why not a credit card?
There are a huge number of credit cards available now and around 149 cards on the market offer zero per cent deals. Though many of these cards suck you in with short term zero per cent deals and then sting you down the line, they can always be managed if you check the small print and make your repayments.
Here are a few of the current most popular from the MoneyExpert.com switch and save service:
|Company||Balance transfer*||Typical APR (variable)|
|Virgin||0% / 15 months||15.9%|
|Barclaycard||0% / 14 months||14.9%|
|Barclaycard||0% / 13 months||14.9%|
Compare all 0% balance transfer credit cards
*Remember that you will have to pay a balance transfer fee of up to 3% with most 0% balance transfer cards