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The Government’s target for all new cars and vans to have zero emissions at the tail pipe by 2035 is why by the end of June 2024 there were 1,145,000 fully electric cars in the UK.

Having an electric car is much better for the environment but is it better for your wallet?

Electric VS Petrol

Initial costs of the car

Buying an electric car is still more expensive than buying a petrol car making it difficult for many to make the switch.

 

Charging VS filling with petrol costs

Charging an electric car with an at home port costs on average £15.10 for 200 miles. This is added on to your overall energy bills.

Filling your car with petrol costs on average around £100 for 200-400 miles.

Electric have the disadvantage for needing to be charged more often as they don’t make long distances. They are much better suited to short drives and city driving. Despite charging being cheaper this takes a lot longer than filling up a petrol car as even a rapid charger as they have on motorways takes around 30 minutes and costs on average £26.

 

Road tax costs

Road tax price is dependent on the CO2 emissions from the car.

On average road tax for a petrol car costs between £30-2,265 with the more expensive cars being charged more for tax.

Hybrid cars cost on average £0-135 for road tax.

And Finally, fully electric cars cost £0 for road tax due to their environmental advantages.

 

Insurance costs

The Independent reports that those with electric cars pay almost over double for insurance than those with petrol cars, an average of £1,344.

On average, those with petrol cars pay £924 for insurance.

This is due to the cost of repairs and the materials needed for electric cars. Batteries for electric cars are also hard to fix and the parts are hard to find. There are also fewer mechanics trained on electric cars however with the rise in popularity this should change. Finally, there are a higher number of claims on electric cars causing insurance policies to increase the price.

 

Which one costs less to run?

Pod point reveals that on average it costs £528 less to run an electric car than a petrol car.

Data shows that electric car owners save on filling the tank as they avoid the cost of petrol. Additionally, maintaining and servicing an electric car can often be a lower cost too.

At the beginning of July Ofgem announced a price drop for energy bills, however this is not set to last for the long haul. Unfortunately, energy prices are set to increase again before the winter months.

So, you may be looking for way to reduce your energy bills?

There are lots of way to do this at home by becoming creative and proactive, one way is to have a smart metre installed so you can track your energy usage efficiently.

You could save money with a smart meter if you use it to its full potential.

 

Getting a smart meter installed

The government have set a target for smart meters to be installed in 74.5% of homes and 69% of small businesses by the end of 2025. Many home already have a smart metre but if not your energy supplier should offer to install one soon.

If you want one sooner, you can call them up to inquire about having one installed which they will do free of charge and should explain to you how it works too.

You can have a smart meeting even if you a renting or on a pre-payment plan.

Having a smart meter has a lot of benefits is used correctly not only to save you money but also reduce energy usage which helps the environment too.

 

The benefits of a Smart Meter.

 

This year the Amazon Prime sale days will fall on the 16th and 17th of July. This is the 10th year in a row for the Amazon Prime day and is a great way to save money on an item you have wanted, buy for birthdays or even get ahead and start your Christmas shopping.

There will be new deals released throughout the event so you can keep going back to search for that special item.

The deals are only available to Prime members so make sure you sign up in time.

The Vice president of Amazon Prime revealed that prime members saves over $2.5 billion during the 2023 prime day.

 

Members only invite

Members of Amazon prime will be sent invites to those extra deals, so request those invites so you don’t miss out.

The top invite only deals include 40% off Sony wireless headphones and up to 30% off Peloton products.

 

A sneak peak at what’s on offer

Back to school and college products such as 40% off on Amazon Basics school supplies as well as 40% off Amazon essentials crew necks, hoodies and joggers.

Keep a look out on these influencers pages as they will be dropping exclusive deals in the run up to the event.

The influencers include, Jess Sime, Millie Bobby Brown, Alix Earle, Jared McCain, Monet McMichael, Alyssa MacKay and Meredith Duxbury.

From July 8-15th they will pick their favourite products and provide an early access deal.

 

Tips to prepare

Sign up for prime if you’re not already as this is the only way to shop the deals.

Amazon are helping you prepare and if you have an Alexa device then you can set up alerts for items in your basket when they go on sale.

Sign up for the invite only product page to be in for a chance as viewing only the top deals.

It’s festival season with Glastonbury beginning today with headline acts from Dua Lipa, SZA and Coldplay. With millions of people planning their festival weekends full of music, dancing and probably a lot of mud after paying for your tickets you might be hoping to keep the costs down once you arrive.

There are lots of ways you can keep to a budget whilst at the festival.

If you want to have a mini break this summer without the stress and prices of flights then don’t forget the UK has some great places to visit too!

There are cities, countryside and beaches to see in the UK so there’s no need to try to organise a week where the whole family stresses about flight times, sun burn or what food the kids will eat.

 

Edinburgh

As the capital of Scotland this one of the most popular UK destinations and we understand why. With the history, views, mass of restaurants to choose from as well as lots of activities Edinburgh should be on your list.

It is easy to get to with a quick flight, or take the car and make it a road trip stopping off a long the way!

victoria street in edinburgh, scotland, united kingdom

Whilst you’re there,

 

 

The Lake District

beautiful lake surrounded by mountains

Why not take some time in the outdoors this summer and visit the lake district?

The national park in Cumbria offers, of course, large lakes for swimming and paddle boarding as well as quaint towns such as Ambleside and Kendal to stop by a café to have a cake. Lot of different walks where you can choose to go up a fell mountain or stick to the flat and equally beautiful paths.

This is a place or everyone with activities for all ages and groups, from historical sites, kayaking, climbing and so many more it will be hard to choose.

Choose a campsite or a cottage to stay in meaning the price range will suit everyone here.

 

Cornwall

coast of cornwall on a clear spring day

If you wanted a beach getaway then England can supply too. Cornwall is at the bottom of the country and has some of the most beautiful beaches as well as more quaint British towns such as, Padstow where you can find some delicious fudge.

A popular destination for families and full of campsites or bed and breakfasts by the beach. Lots of people choose to go surfing here as well as crab fishing by the docks.

Even if the weather doesn’t co operate this will be a great adventure exploring what England can offer.

 

Bath

roman baths of bath, somerset. uk

Another City that is overflowing with history and charm. Known for their Roman built baths, so you should spend a day at the Thermae Bath Spa offering the same natural hot spring water. Head up to the roof for 360 views of the city as well as indulge in some spa treatments.

The place Bridgerton is filmed, scenes from Les Misérables an episode of Sherlock and more, see if you can spot the locations.

Climb 212 steps to the top of the Abbey Tower for a view of the city and explore the heritage centre.

Bath can offer a city feels with the country side not so far away, with the cobbled streets and small tea shops as well as lots of restaurants and bars you can get the best of both worlds.

We all know that part of going on holiday is first spending a ridiculous amount of money at the airport. Whether that is just getting there to begin with or getting an extra bag on the plane or having a pre-flight breakfast in a café that seems to have their prices 10 times higher than your local one.

 

London Gatwick has been report numerous times at the cheapest UK airport to fly from, however flights vary massively depending on location and time of year.

 

There are some ways you can save money at the airport.

The February half term is here and many families are planning trips and days out for the week ahead. Trying to find activities that the whole family will enjoy and that won’t put a strain on your bank account can prove quite difficult.

We have found free activities you can do at home or lower cost days out to plan for the week. Spend time with your kids without worrying about the cost.

Go Camping!

Finding a pitch to go camping can be a low cost plan for a one night stay or more. Find campsites near you using Pitchup. Pack lots of layers in the car and head over to spend a night under the stars. You could find a campsite which will host events for the kids but if not, take a stroll around the countryside and see what wildlife you can spot. Reserve a campfire to roast marshmallows,

To make this even more budget friendly, you can pitch your tent in the garden, make some s’mores and tell spooky stories for the night. The kids will love the idea of making a bedroom in the garden and you don’t have to spend a thing.

Make a den inside!

The February weather may make you lean towards more indoor activities and we don’t blame you! Why not try out den making? Push the chairs and sofa’s together, bring down all your sheets and work as a team to build to ultimate den. You can create a name for the new kingdom and give everyone a role to defend the land, get the kids working together and spark their imaginations.

Host a mini Olympics!

Set up an obstacle course and make them jump through hoops, literally. Set it up outside, or in the house if you’re brave and select fun prizes for them to win for each round. This could be chocolate or it could be choosing the movie the family watches that night.

The egg and spoon race, beanbag race (using pillowcases), set up a course around the house and see who gets to the finish line first, use chairs and soft cushions to slow them down and make them jump over them.

This will be great entertainment, for you and the kids and will result in very tired children by the end of the day. Keeping them active, engaged and entertained.

Visit your local farm park!

There are farm parks all across the UK and usually with low entry costs too. Take the kids to visit the animals and learn all about farm life. This is a great way for kids to learn and being around animals is always positive, they could even feed them.

Craft days!

Getting messy and creating something fun is usually a hit and you can do this at home for a low cost. Visit your local Hobbycraft or other craft store and pick out something fun. At Hobbycraft you will find ceramic money boxes which you can paint. For £5 you can choose from a wide variety of characters including a dinosaur, a fairy, a car, an octopus and more and it comes with the paint and the brushes already. Lay down a sheet on your table at home and let them get to work. Once they are done they will have a creation of their own, and a place to keep any pocket money too.

You might also find that the Hobby craft near you is hosting workshops that are only £5-8 to join in on activities like canvas painting and making clay animals.

Make a photo album!

Let your kids create a book of memories that you can all enjoy looking back on. Help them pick the photos and add them to a book. Write notes for each picture and go wild with creativity. Even with the finger marks, the bad spelling or the smudges, this will be something you can look back on as your children write messages about each memory in the photo.

Some of it might contain sensitive or confidential information, like client data or financial records. 

You could spend hours shredding it yourself, or you could take a smarter route: mobile shredding. In a world where time is money and security is paramount, mobile shredding offers a perfect blend of convenience and safety.

The Dilemma: Busy Schedules and Stacks of Paper

If you're a busy professional, your calendar is probably jam-packed with meetings, deadlines, and a to-do list a mile long. The last thing you want to do is take time out of your day to shred papers. 

Worse still, if those papers aren't disposed of correctly, you could be risking data breaches, identity theft, and even hefty legal fines. That's a lot to juggle!

Time is Money: The Efficiency of On-Site Shredding

Let's get real: time spent shredding is time away from doing what you do best, whether that's managing your team, meeting clients, or strategizing for the future. Services like mobile shredding take the hassle out of the equation, allowing you and your staff to concentrate on your core job tasks. Just schedule a visit, and the truck takes care of the rest.

Dollar and Cents: The Financial Benefits

You might be thinking, "Sure, it saves time, but what about the cost?" The truth is, doing your shredding isn't free. 

Factor in the time employees spend, the wear and tear on your office shredder, and the costs of disposal, and you'll find that mobile shredding is a financially savvy option. Plus, many providers offer different plans, so you can find one that fits your budget.

Don't Risk It: Reducing Liability with Professional Shredding

Improper document disposal can lead to a world of trouble, including potential legal penalties. Mobile shredding companies adhere to strict industry standards to ensure your documents are securely destroyed. Many even provide a certificate of destruction as proof that your papers have been properly disposed of.

Flexibility Is Key: Catering to Your Unique Needs

Whether you need a one-time shredding service for a big project or a scheduled service to keep your document flow manageable, mobile shredding services are flexible enough to meet your needs. Plans can be customized based on volume, frequency, and type of materials.

The Eco-Friendly Bonus: Shred and Save the Planet

Think shredding is bad for the environment? Think again! Most mobile shredding services recycle the shredded materials, turning your unwanted papers into something useful while reducing your carbon footprint.

Making the Switch: How to Choose a Mobile Shredding Service

Choosing the right mobile shredding service is crucial. Look for companies with strong reviews, industry certifications, and transparent pricing. Remember, you're not just hiring them to destroy papers; you're trusting them to protect your sensitive information.

Let the Shredder Come to You

When it comes to managing your time and money efficiently while also ensuring top-notch security, mobile shredding is the way to go.

With the convenience of on-site service, flexibility to meet your specific needs, and a focus on security, the ROI is clear: Mobile shredding is an investment that pays off in spades for busy professionals and institutions.

It's like unlocking the door to freedom and adventure! But before you hit the open road, there's an important decision to make - rental car insurance. It's a topic that can confuse even the savviest travellers. While insurance is essential for protection, it doesn't mean you have to break the bank. You can explore some savvy tips to save money on rental car insurance without compromising coverage. Buckle up; you're in for a ride!

Understanding the Basics: What's Rental Car Insurance?

Before you delve into the money-saving strategies, get a grip on what it is all about. When you rent a car, the rental company will usually provide you with insurance coverage to protect against potential damages, accidents, or theft during the rental period. While it's an added layer of security, it often comes with a hefty price tag.

Know Your Existing Coverage:

Believe it or not, you might already have this insurance without knowing it! Many car insurance policies and even some credit cards offer rental car coverage as a hidden superpower. So, before you opt for the rental company's insurance, check with your car insurance provider or credit card company to see if you're already covered. This little-known fact could save you a significant amount of money and bring a smile to your face.

The Power of Credit Cards:

Did you know that some credit cards offer such insurance as a perk? It's like a gift from the financial heavens! You may automatically receive rental car coverage if you use the right credit card to pay for the rental. However, not all credit cards offer this benefit, so make sure to check with your credit card issuer before relying solely on this option.

Shop Around for the Best Deals:

Saving money on it is all about the art of comparison. Just like shopping for the perfect outfit, don't settle for the first option that comes your way. Take the time to shop around and compare insurance rates from different rental companies. You'll be amazed at how much money you can save with just a little effort.

Leverage Your Existing Policies:

If you have existing insurance policies, such as auto or homeowner's insurance, explore the option of bundling your car rental coverage with these policies. Insurance companies often offer discounts for bundling, which can result in substantial savings. It's like getting the best value meal at your favourite fast-food joint - a winning combo that excites and satisfies you.

Supplemental Liability Coverage

Liability coverage is another important aspect of car rental coverage. It protects you in case you're at fault in an accident and must cover damages to other people's vehicles or property. Depending on your existing coverage, you may consider supplemental liability coverage from the rental company. It's like finding the perfect balance between protecting yourself and your wallet.

Read Before You Sign:

When picking a car rental coverage option, it's essential to read the fine print and understand what's covered and what's not. Some insurance options may have exclusions or limitations that could leave you vulnerable in specific situations. Being well-informed ensures that you make the right decision for your needs and budget.

In conclusion, rental car insurance doesn't have to be a budget-buster. You can save money without compromising coverage by understanding your existing coverage, leveraging credit card perks, comparing options, and bundling policies. Consider your emotions on the road and strike the right balance between protection and risk.

As you embark on your rental car adventure, cruise with confidence, knowing that you've made a savvy decision that leaves you feeling secure and empowered. It's time to hit the road with a smile and a little extra cash in your pocket - the perfect recipe for an unforgettable journey.

This year began with the Royal Mail ransomware case. The malware ceased international shipments for two weeks.

Total financial losses for businesses that relied on the service and the Royal Mail itself

are still uncertain.

Behind this case is the known ransomware group LockBit which tried to extort the company for $80 million.

New variants of ransomware, with even more sinister capabilities than sole file encryption, can completely lock companies out of their networks and obtain sensitive data.

They’re paired with the threats of data theft and leaks as well as other types of attacks to force the victim into paying the ransom.

On average, the cost of ransomware for the affected companies is estimated to be $4.54 million. This number doesn’t even include the price of the ransom itself.

Let’s break down why ransomware cases are so costly and what companies can do today to protect themselves from a possible attack tomorrow.

The Hidden Costs of Ransomware

Some of the factors that contribute to the high cost of ransomware are:

● The ransom itself (if paid) or rebuilding infrastructure/retrieving data

● Falling behind with work (ceased operations and lost revenue)

● Hiring experts to strengthen security

● Investigation of the attack

● Compensating users following the data breach in the case of a class action lawsuit due to data theft

● Damaged reputation

Most ransomware cases are strictly financially motivated. The threat actor targets the business to demand ransom (mostly in crypto since it’s more challenging to trace it back to the criminals).

Whether or not the company pays the ransom will depend on which parts of the systems have been affected, whether the documents are sensitive, and if it can get back access to parts of its critical infrastructure.

It’s advised not to ever pay the ransom (and with that fund and support criminal activity) because there’s no guarantee that hackers will keep their end of the deal.

At the time of speaking, it’s not illegal to pay the ransom in many states. However, new research suggests that the number of companies paying the ransom is decreasing.

What happens when the company doesn’t pay the ransom, though?

The simple truth is that it differs from one case to another. Some might lose files that have been locked while others will have to rebuild their entire infrastructure.

Regardless of how the business handles ransom, they have to go through the expensive remediation phase where the experts remove the malicious software from the system and improve the security.

Recovery also involves the investigation of this criminal case and possible lawsuits if the data of the users has been compromised in the attack.

All of that combined can halt the regular operations of a business and cause major revenue losses for the company.

Even more, the attack can cause reputational harm for the company.  

As customers find out about the case, they take note of how the business handled the crisis. Did they do everything possible to protect user data? Communicated transparently? Refused to falter under the pressures of the criminals’ demands?

While reputation is not something that can be easily gauged, for high-profile cases it’s possible to observe the stocks before and after the attack.

Protecting Business Finances Against Ransomware Attacks

Steps a company can take to protect its network against possible ransomware include:

● Investing in a specialized tool that can uncover malware

● Properly manage data

● Do regular cybersecurity hygiene

● Introduce phishing awareness training

Cybersecurity solutions for ransomware are designed to recognize the patterns (fingerprints) of this file-locking malware and block it before it can infect documents or parts of the infrastructure.

The latest anti-ransomware solution is also automated and works non-stop to detect signs of malware. This is essential because the early discovery of the hacking activity can cut the costs of expensive security incidents, such as data breaches.

Since most versions of ransomware target the data of a company or individual, it’s necessary to take extra steps to enhance data security. Invest in solutions that can catalog and allow visibility into where your data is at all times.

Also, doing regular backups of the files can aid workers to resume their jobs even if the system is infected with malware.

In security, hygiene is maintenance — doing regular updates, patching up flaws, and strengthening the network in its weakest points. Daily improvements remove the vulnerabilities that can be exploited by malicious hackers.

Phishing attacks are gaining popularity, which is why training employees to recognize suspicious emails is a great first step in the line of defense.

Ransomware Brings Unexpected Costs — Be Prepared

Regardless of how you look at it, the cost of ransomware is high. For many companies, it’s challenging to fully recover following such a breach.

Once the files are encrypted, it’s notoriously difficult to decrypt them and get them back.

New strains of ransomware can steal data (not just encrypt them to demand the key) or lock the business out of the network and cease operations completely.

That’s why it’s important to secure infrastructure, prepare employees working in the company, have a solution that can trace the ransomware, and take extra precautions to protect sensitive data.

Not to mention, this may be the first party that many new employees will be witnessing, so you’d want it to be a good one. 

However, there are so many things that need to be considered - right from the budget to the time, effort, and manpower required to plan and execute a great holiday party. That’s why most companies hire a professional event planner. 

These individuals are trained and come with years of experience in planning, coordinating, and executing huge parties for companies, even if it means doing it at the last minute. What’s more, you may even end up saving more money through an event planner than you would if you were to do it yourself. 

We’re going to walk you through all these reasons throughout the rest of the blog, so keep reading!

1 - They are resourceful

An event is going to need a lot of resources and vendors - right from the seating to the food, gifts, and decor - it can be a lot to handle. If you’re going to do this yourself, you’re likely going to have to shell out a lot of money to individual vendors as you try to find the best quality products and services in a limited amount of time. 

However, an event planner comes with all these resources in check, since they likely have been working with various vendors all year round for the different events they plan. 

For this reason, they may even have a deal with some vendors and will be able to get you better prices for everything you order. This way, you’ll end up saving way more by going through an event planner than by approaching individual vendors yourself. This way, you’ve saved yourself a ton of money and time by not having to hunt down vendors yourself. 

2 - They’re flexible and good at problem-solving

If there’s one thing about planning events is that you always need to have a “Plan B” and “C” ready, just in case Plan A fails. This is true for every single aspect of the event - starting with the venue, the lighting, the decor, the flowers, the seating arrangements, and everything else. 

The good thing about having a planner handle this is that they can be trained to think ahead and have different plans as backup plans in case the initial plan doesn’t work out at the last minute. 

Say there’s a sudden change in weather or a shortage of food - they’ll be able to execute the next plan with minimal confusion since they’re trained to think ahead and solve problems before they get out of hand. 

3 - You can’t beat them at organizing and planning

The best part of having an event planner is that you can completely trust them to take care of the entire event - not just certain parts of it. This applies to everything - starting with the invites, the venue selection, the seating, the food, the speakers, the special programs, the stage setting, and whatnot. 

They also have the right tools to help them do a better job at storing all this information in one place and also collaborating with other organizers and keeping everyone in a loop - so there’s no confusion. There are numerous apps in the market for this niche, but only a few of them stand out. 

If you’re wondering about which to go for, this article about Planning Pod vs Caterease talks about the main differences between the top-most competitors in the market and will help you narrow down the best. 

Saving Not Starving

You should consider both your monthly income and expenses and determine how much you can afford to spend each month. This can help you prioritize needs versus wants and make sure you don't overspend.

When it comes to making purchases, it's important to consider what you need and what you can do without. There are many ways to save money, such as shopping for secondhand items, using coupons, and taking advantage of sales. You should also consider whether you can make do with a cheaper version of an item or if it is something you can live without.

Setting aside money for retirement, emergency funds, and other long-term goals can help you prepare for whatever life throws your way. Building financial stability may be facilitated by coming up with a savings plan that is appropriate for you and adhering to it. Living under your means can also help you reduce your debt. If you are unable to pay off your debt, you should consider creating a repayment plan or consolidating your debt.

In 2023, living under your means will be more important than ever before. With the cost of living continuing to rise and economic uncertainty looming, it's important to take the time to manage your finances and prepare for the future. By taking the time to create a budget, save for the future, and reduce your debt, you can create a secure financial venture for yourself.

Top Tips To Grow Your Finances In The Future

Building wealth is an important part of financial security, and it’s something that takes time and effort. Nevertheless, there are several strategies to gradually increase your money. Here are a few more effective techniques to increase your wealth:

1 - Follow Your Spending: 

Knowing where your money is going is the first step in making a budget and spending your resources most effectively to increase your wealth.

2 - Invest in Stocks and Bonds

Investing in stocks and bonds can create a steady source of income over time. Click here to know more about investments and tradings.

3 - Start a Side Business

Starting a side business can be a great way to create a languid income stream. Whether you start an online business or a brick-and-mortar store, having an additional source of income can help you grow your wealth.

4 - Have an Emergency Fund

For financial stability, it is crucial to have an emergency reserve. Having a rainy-day fund can help you prepare for unexpected expenses and keep your wealth safe.

5 - Take Advantage of Tax Benefits

Taking advantage of tax benefits can help you save money and build wealth over time. Knowing what tax deductions you qualify for and taking advantage of them can help you save on taxes and put more money towards wealth-building activities.

6 - Automate Your Savings

Automating your savings is an easy way to make sure you’re putting money away for the future. You may increase your savings and gradually increase your net worth by setting up direct debits from your deposit account to your retirement fund.

Final Words

Building wealth takes time and effort, but there are plenty of ways to do it. By tracking your spending, investing in stocks and bonds, starting a side business, cutting your expenses, having an emergency fund, taking advantage of tax benefits, and automating your savings, you can build your wealth over time.

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