What are they worth?

So Jonathan Ross is worth the £18 million the Beeb is set to pay him in a three year deal, but the likes of Jeremy Paxman and Chris Moyles might need to watch out.

That at least is the opinion of a new inquiry into the salaries of the BBC’s top stars. According to the BBC Trust the pay for the likes of Jonathan Ross and Graham Norton is justified given the value they hold in the eyes of the viewing public.

Other figure though, such as Chris Moyles, earning £630,000 might not be sitting quite so comfortably with the Trust’s report finding that because of a lack of competition their salaries don’t quite add up.

It’s unlikely that Moyles, the self-titled ‘Saviour of Radio 1’, will be panicking too much over his finances just yet, and ‘Wossy’ certainly won’t be but with summer spending just around the corner it could be time for a bit of a financial rethink for the rest of us. MoneyExpert.com can offer some tips to get you going.

Time to jump ship

Things may have been financially rather gloomy in recent months but if there’s a light at the end of the tunnel it’s taking the shape of some interesting financial products now on the market. For those looking to switch to a better deal there are definitely some options worth considering.

Of all the areas that have taken a hit the mortgage market has perhaps been worst affected. The number of home loans available all but halved in the year from April 2007, but there are reasons to be hopeful. If you’re coming to the end of a mortgage term the Lloyds TSB Air Miles mortgage might be worth looking at. It offers 6,000 Air Miles when you take out the mortgage and another 50 for every month of the mortgage term – comfortably enough for a decent trip abroad.

The current account and savings account market has also experienced something of a shake up with providers eagerly bidding to outdo each other. The Manchester Building Society and the Chelsea Building Society both offer no notice savings accounts over 6% AER and even current account providers such as Alliance & Leicester and Abbey both have current accounts with fantastic rates for the first year.

If your bank is only offering paltry savings or in-credit interest rates it’s certainly time for a rethink.

Cards that charge

With the miserable British weather boosting holiday sales in recent weeks, we look like spending a record amount overseas this year. But with credit card providers and banks increasingly keen to get their hands on our cash, spending money abroad can prove costly.

The old fashioned route of exchanging a large amount of cash or taking travellers cheques is obviously still an option, but for those who prefer to pay with plastic and also value the security there are alternatives.

In terms of debit cards the best deal is available with Nationwide whose debit card won’t charge any fees for cash withdrawals or transactions abroad. Unlike most credit cards it won’t charge a foreign transaction fee either.

With credit cards there are a few options to consider. Out in front is the Abbey Zero card. The card charges nothing for cash withdrawals and has no foreign exchange fee anywhere in the world. Nationwide and the Post Office both offer decent alternatives. Whilst they will charge for cash withdrawals, at 2.5%, they don’t have any foreign exchange fees, and, as opposed to a lot of debit cards, they won’t charge a purchase fee.

Current accounts that cost

A further consequence of banks seeking more imaginative ways to charge ways is the rise of the packaged account. These current accounts draw in custom by offering so-called perks such as travel insurance, mobile phone insurance, and ID theft protection, as well as others.

As they stand these accounts needn’t be bad thing, though some do charge considerably more than others, but you need to make sure you’re making the very most of what’s on offer. If you’re paying £12.95 a month to HSBC for its Bank Account Plus but aren’t planning to leave the country this year, it’s worldwide travel insurance is clearly of no use at all and you should look elsewhere.

Leave a Reply

Your email address will not be published. Required fields are marked *