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    the small print

              by philip evans
MONEY: the small print
Copyright © Philip Evans 2009.
The right of Philip Evans to be identified as author of this work has been asserted
by him in accordance with the Copyright, Designs and Patents Act 1988.
First published by the author in 2009.
Philip Evans
13 Camborne Road, Welling, Kent, DA16 3LD, United Kingdom
ISBN 978-0-9543907-4-7
All rights reserved.
Designed and produced by Staunton Rook (Marketing Services Consultancy),
This edition has been made possible by funding from EuroDebt Financial
The author is grateful to many people for ideas and advice but especially to
Harper Wright.
This book is only a guide to personal finance and the issues have been
simplified. Handling money and dealing with money problems can be
complicated. You cannot hold the author, or anyone else involved in the
production of this book, responsible for any action you take, or fail to take,
based on what is written in this book.
You should get expert help if you are worried about your financial situation or if
you think that you could benefit from help with money problems and debt.
If you have a debt problem, you should get expert advice immediately.
Local advice centres are listed in telephone directories or call National Debtline
on 0808 808 4000.
The illustrations in this book can be downloaded free and printed as posters.
Please visit
You are welcome to copy extracts from this book for personal study or for
circulation on a non-profit basis. For any other purpose, whether or not for
profit, you will require written permission in advance from the author before
copying, reproducing or transmitting extracts in any form or by any means,
electronic or mechanical, including photocopying, recording or using any
information storage and retrieval system.

MONEY : the small print
the small print

    by philip evans
Foreword by Estelle Morris
Whether it's a time of economic prosperity or a world-wide recession,
whether we're managing a family income or a globalised industry, we
all have to learn how to deal with money.

Personal finance has become more complex. Young people are
faced with more choice and more freedom with their financial affairs
than any other generation. Their attitudes to borrowing, to debt, to
investing and to spending are in part shaped by the times they live in
but their decisions will have a direct effect on their lives and on those
of their family.

Young people won't become financially literate unless they are taught
how to be. This book by Philip will help; it addresses the real issues
and choices they will face by setting out information in a clear,
straight-forward and non-judgemental way. It is a valuable resource
for those professionals helping young people to learn how to handle

Personal finance is an essential part of both compulsory education
and adult education. We need more high quality resources and this
book is a most welcome and timely addition. Its clarity in dealing with
complex issues will make it a vital companion for those working in the

Baroness Morris of Yardley

Estelle Morris taught at an inner-city secondary school in Coventry before entering politics.
She was Secretary of State for Education from 2001, continues to work with young people
and is now President of the National Children's Bureau.

       The illustrations in this book can be downloaded free and
       printed as posters. Please visit
All these organisations will give you free and independent advice.

Money Made Clear
Impartial guidance from the Financial Services Authority, the UK’s
official financial watchdog.
0300 500 5000 (calls to this number are cheap from landlines and
most mobiles)

National Debtline
Advice about debt and other money problems.
0808 808 4000 (calls to this number are free from landlines and
most mobile networks) (you can get advice by e-mail)

Advice about homelessness and housing.
0800 800 4444 (calls to this number are free from landlines) (you can get advice by e-mail)

Advice for homeless people who are single.
0870 011 3335 (you will have to pay for these calls)

Advice UK
An umbrellla organisation for independent advice centres that can
tell you where to get help in your area.
020 7469 5700 (you will have to pay for these calls)

Citizens Advice
The organisation that coordinates the work of local Citizens Advice
Bureaux. It can tell you which is your closest Bureau.

If you call a free number from a payphone, remember not to put in
any money. If you do, you may be cut off when the money runs out,
even though the call should have been free.
Money : the small print ..................................................................1
The truth about money ..................................................................2
What money is for .........................................................................3
Plastic money ................................................................................4
Three things you should know .......................................................5
Know yourself well enough to budget ...........................................6
Being yourself ...............................................................................7
Check your income ......................................................................8
Know how to budget ..................................................................10
Know how to defend your budget ..............................................12
Supermarket shopping ................................................................13
Money problems .........................................................................14
Identity theft ................................................................................15
Bank & building society accounts ................................................17
Money numbers .........................................................................18
Choosing accounts .....................................................................19
Saving .........................................................................................20
Insurance ....................................................................................21
Borrowing ....................................................................................22
Giving ..........................................................................................23
How credit works (APR & AER) ...................................................25
Credit, redundant credit & debt ...................................................26
Credit Reference Agencies ..........................................................27
How credit cards work ................................................................28
Choosing credit cards..................................................................29
Clearing credit .............................................................................30
Arrears and catch-up...................................................................32
Your job .......................................................................................33
Your home ..................................................................................34
Your pension ..............................................................................35
Making a Will ...............................................................................36
Being good with money...............................................................37
Money : the small print
If you buy clothes or shoes, you try them on first to see if they look
good on you and fit comfortably. If you buy a car, you take it for a test
drive. If you buy a tv, you turn it on in the shop to see if the picture
quality and sound are what you want and worth the price. But you
can’t do any of that with financial products. All you can do is to read
the small print to find out how they work.
Small print is what we call the terms and conditions that explain bank
and building society accounts, overdrafts, personal loans, credit
cards, savings plans, investment portfolios, insurance policies,
pensions, mobile phone contracts and other financial products.
Most people don’t bother to read the small print. They see an advert,
read a promotional letter or listen to some sales talk. They might look
at the information in a summary box. And then they buy. They don’t
read the small print and as a result get things that aren’t really what
they want, doesn’t suit them and which they don’t really understand.
And sometimes they end up in debt.
The small print tells you what you’re buying, how it works and what
happens if things go wrong. For example, if you overdraw from a
bank account or fail to make a credit card repayment on time, the
small print tells you what penalties and other charges you’ll have to
pay. The small print tells you what an insurance policy covers and,
just as importantly, what it doesn’t cover.
This is a book of small print about money. It will help you handle
money well so you can have a better chance of enjoying life and
doing more of the things you want. Things like dressing how you like,
buying what you want, pursuing a career and going on holiday.
Money is central to the way we live today and not using it properly
impacts every area of our lives. Money problems are the main reason
families break up. A lot of research has shown that people who are
confident handling money do better in other areas of their lives. This
is true, even if they don’t have much. They study better, work better
and make for better friends.

MONEY : the small print                                          page 1
The truth about money
Money makes civilisation possible. Without it, we wouldn’t be able to
enjoy many of the things we take for granted today. But, sometimes,
money seems to take over!

Many people in history have observed that money is a good servant
but a terrible taskmaster. By that, they mean that if you handle money
well it can help you enjoy life and achieve your goals. But if you’re
always chasing more money, working all hours and struggling
desperately to keep up appearances, it’s a life of slavery. It’s therefore
important to remember some ancient truths about money.

■   It can’t buy you love 1.
■   It doesn’t make the world go around 2.
■   It is not the root of all evil. (Most people get that wrong. The love
    of money is the root of all evil 3.)
■   It won’t make people like you. (Although they may pretend to!)
■   It’s not more important than time. (You can use time to make
    money but you can’t use money to buy time.)
■   It can’t ease your conscience.
■   It’s not more important than your reputation.
■   It’s not more valuable than wisdom.
■   It’s not more important than people.
■   It doesn’t grow on trees.
■   You can’t take it with you when you die.
1   In 1964, The Beatles had a hit called Can’t Buy Me Love. The song was written by John
    Lennon & Paul McCartney. A couple of years later, John Lennon explained, ‘The idea
    behind it was that all these material possessions are all very well, but they won’t buy me
    what I really want’.
2   In the musical, Cabaret, the song Money, Money includes the line ‘Money makes the
    world go around’. It was written in 1966 by Fred Ebb.
3   ‘The love of money is the root of all evil’ comes from The Bible (I Timothy chapter 6
    verse 10).

MONEY : the small print                                                             page 2
What money is for
I often come across people who believe that everything in life has a
price tag. They suppose they need money not only to get a place of
their own and start a family but also to fall in love and be happy. I
don’t agree, so here’s a list of the main uses of money.

■   Buying stuff. This is obvious but if we want to buy a car, a holiday
    or just a bar of chocolate, we need money.
■   Paying for services. This is also obvious. If we want to ride on a
    bus, we don’t buy a bus; if we want our hair styled, we don’t buy
    a hairdresser – instead, we pay to use the service.
■   Motivating people. Many jobs have low wages and staff have to
    hit performance targets to earn bonuses and commission so they
    make enough to live on. In others, staff are set a series of
    performance targets and how well they meet them determines
    what pay rise or promotion they get.
■   Punishing people. Most crime is punished by fines – not by prison
    or probation or community service. An increasing number of ‘civil
    penalties’ are used to deter us from parking where we shouldn’t,
    dropping litter, overfilling our dustbins, failing to clear up dog pooh
    and other anti-social behaviour.
■   Personal security. By having savings and insurance, we hope to
    deal with the sorts of problems that happen to everyone from time
    to time – like when things break down or people get ill.
■   Valuing people. We used to respect older people as being wise:
    they were thought to have experienced life and be able to give
    good advice. Today, the concept of a ‘wise elder’ has been
    replaced by admiration for people who are financially successful.
    We tend to idolise people who earn a lot or appear to be rich
    because we believe it’s evidence of success.

MONEY : the small print                                            page 3
Plastic money
We handle a lot of our money by remote control, using plastic cards.

■   Cash cards allow you to withdraw money from cash machines.
    You will have a Personal Identification Number (PIN) to use with it.
    This is your own money – it comes out of your account.
■   Debit cards allow you to pay for things in shops, by telephone and
    over the internet. In shops, you have to enter your PIN into a
    machine. (Some shops still don’t have these machines and will,
    instead, give you a paper receipt to sign.) If you buy things by
    phone or internet, you don’t give your PIN but the security code
    that is usually on the back of the card. This is spending your own
    money and the payment is taken from your account. Most debit
    cards also work as cash cards and allow you to withdraw money
    from cash machines.
■   Credit cards work like cash cards and debit cards but it isn’t your
    own money. You borrow the money and have to pay it back later.
    Banks, building societies and all sorts of other organisations issue
    credit cards, including clubs and charities. (You have well over
    1,000 to choose from!)
■   Charge cards work like credit cards, except that you must pay off
    the entire balance each month.
■   Store cards are issued by shops and supermarkets and can only
    be used to buy things in them. Some store cards work like credit
    cards and some like charge cards, so you need to be clear which
    sort you have.
■   Prepaid cards are ‘pay-as-you-go’: they work like debit and credit
    cards but you can withdraw and spend only what money is
    already loaded on to the card. You top-up at banks, Post Offices
    and other places and check statements online. There may be
    application fees plus monthly and top-up fees – and you might
    even be charged each time you use one.

Before you apply for any of these cards, first read all the small print
right through.

MONEY : the small print                                         page 4
Three things you should know
There are three things you must know if you want to handle your
money well.

■   Know yourself well enough to budget.
■   Know how to budget.
■   Know how to defend your budget.

By ‘defend’ your budget, I don’t mean that you must justify it. How
you decide to spend your money is up to you. The greatest challenge
you face controlling your money is sticking to your choices when so
many people have the job of getting you to spend in ways that suit

We live in a consumer society – a way of life that’s kept going by
getting people to spend. One way this is done is by making us
believe that we ‘need’ certain things in order to be happy, fulfilled,
liked and successful. Things like bath and shower gels, cosmetics,
fashion accessories, DVDs, music downloads, ringtones, webcam,
iPod, credit cards, overdrafts, personal loans and insurances. But the
truth is, while we may like to have these things, we don’t really need
them at all.

That’s why it’s important to take time to know yourself well – to know
what’s right for you, what you really like and is important to you. It’s
why you need to make good choices about how to use your money
– and to have the determination to stick with your choices.

MONEY : the small print                                         page 5
Know yourself well enough to budget
Some people hate looking in a mirror because they detest the way
they look – the shape of their nose, the width of their mouth or their
acne. Some people refuse to see a doctor in case they really have
got cancer!

It’s very difficult to get people to look at what they do with their
money. This isn’t because it’s a bother but because they’re afraid of
what they’ll see about themselves. When we start to think about the
ways we use money, we’re often challenged with truths we don’t like
and don’t really want to change. But because money is as essential
to our way of life as clean water, it’s important we use it wisely.

■   Understand who you are. This includes your physical
    characteristics: for example, buying economy soap, shampoo
    and deodorant may save you money – but if they dry your skin,
    leave your dandruff unchecked or give you a rash, you need more
    expensive options. Some people like some economy food brands
    while others think they taste terrible. Some people like to unwind
    with friends but others prefer a quiet night alone.

■   Prioritise what you want. How do you want to give expression to
    who you are: do you want to dress a particular way or have
    certain accessories and gadgets? How do you like to spend your
    leisure time? Do you like watching or playing your favourite sport?
    All your choices have price tags.

■   Decide what you want to do. We all have ambitions and you need
    to understand yours well enough to be able to plan to make them
    happen. Do you want to live in a certain area, follow a particular
    career, drive a specific car, enjoy a desired holiday or make a
    special person happy?

MONEY : the small print                                        page 6
Being yourself
Are you influenced by the world around you? Of course, we all are to
some extent. But how much does it shape your thinking or influence
the way you want to live?

■   Does the way people behave in tv soaps seem normal to you?
    Does it seem normal to visit a pub every day, eat out often and
    buy lots of clothes? It’s just fiction. Unlike you and me, the
    characters don’t get into debt when they spend too much (unless
    it’s part of the plot).
■   Does advertising make you feel like you’re missing out? Do you
    think you will be a better person if you buy new clothes or have
    the latest stuff? Do you think you will be happier? That’s just what
    the advertisers want you to think.
■   Do you find yourself doing things and buying stuff just because
    your friends do? While it’s good to spend time with friends, don’t
    spend what you can’t afford just to stay in with the crowd.
■   Are you easily impressed by what people have? Many people
    base their sense of self worth on what they possess and not on
    who they are or their sense of purpose. This is true even if they
    don’t really own what they have and are struggling to repay what
    they borrowed to buy it. Appearances can be deceptive!
■   Are you trapped on what feels like an unending treadmill – always
    working but never having enough? Or are you having a great time
    riding the crest of a wave – but have no time to think seriously
    about what’s really important? Either way, take time out to think
    about what’s best for your future.
Don’t be driven by pressures you don’t understand. You can spend
money only once and if you spend it like everyone else, you can’t
spend it on what’s important to you.

MONEY : the small print                                         page 7
Check your income
The first step to budgeting is knowing where your money comes from
– your income.
We don’t live in a Las Vegas casino, where money cascades into
winners’ hands and they feel so lucky that they don’t care if they miss
some coins. Most people need every penny they’re entitled to and
you shouldn’t let any slip through your fingers.
Think about where your money comes from and then check that
you’re getting all that you’re entitled to. An extra £5 a week may not
seem a lot but it’s really £20 a month and £260 a year – an amount
you can enjoy.
■   Is your employer calculating your wages, overtime, tips, bonuses
    or commission correctly? (It’s worth checking because everybody
    can make mistakes.)
■   If you’re earning the national minimum wage, is your employer
    paying you the full amount and not making deductions for things
    you don’t have to pay for?
■   Are you paying the correct income tax and national insurance
    contributions? (There’s more about this on page 33.)
■   Are you entitled to tax credits? (Find out more about them at:
■   If you’re on Income Support, are you getting all the other things
    you’re entitled to, like housing benefit and free prescriptions?
You may need help checking these things. At the front of this book
are the contact details for some advice agencies that can help you
check that you’re getting everything you’re entitled to and to help you
put right any problems.
All your income must go into your budget. If you’re paid weekly,
budget for one week at a time. If you’re paid monthly, budget

MONEY : the small print                                        page 8
Know how to budget
You cannot handle money well unless you budget – there really is no
alternative! A budget is a plan of how much money you have and
how you will use it. If you don’t plan for success, you’re as good as
planning for failure.
■   Think about where your money comes from and add up all that
    you expect to get. (There’s more about this on page 8.)
■   Minimise what you spend on essentials. You can’t avoid buying
    food, clothes, electricity and all that but you can easily save
    money on them. For example, eating out is more expensive than
    preparing meals at home. Leaving your tv on standby will use
    much more electricity than if you turn it off.
■   Put aside enough money to pay on time and in full the bills that
    come monthly, quarterly (every three months) and annually.
■   Prioritise your wants. Few people are rich enough to have
    everything they want (cars, holidays, DVDs, ringtones, nights out,
    clothes and the rest), so choose how you will spend your money.
■   Resist your whims. You can waste a lot of money on small things
    like coffees and magazines that you buy impulsively.
■   Save! (There’s more about this on page 20.)
■   Make sure that you spend less than you get – it’s the only way to
    come out ahead. Routinely adding extra spending on to an
    overdraft or credit card only accumulates debt for the future.
Draw up a grid like the one opposite and fill it in. It may take a long
time to begin with, because you’ll need to remember all the money
you get and everything you spend it on, but it gets easier and quicker
after that. Under spending and saving, make sure you list everything.
Search online for free budget calculators that will help you. The
website is a good place to start looking.

MONEY : the small print                                       page 10
A simple budget planner
 Enter period of budget (week, fortnight or month)

 Total income

 Spending & saving

 Total saving & spending

 SUMMARY                      Total income
                              Total spending & saving
 Amount left

MONEY : the small print                                 page 11
Know how to defend your budget
The toughest thing about budgeting is keeping control of your
spending because advertising tries to convince you that you need
things in order to be happy, liked and successful. It does this by
exaggerating their importance. Clothes and cosmetics are sold as if
they can transform your love life! Credit cards are passports to
freedom and the good life! Of course, we realise it’s fantasy but, at
the same time, we’re hooked. Here’s some advice.
■   Don’t go shopping to unwind or to cheer yourself up. Shopping is
    not a leisure activity! Go shopping only when you need or want
■   When you visit a supermarket, take a shopping list. Supermarkets
    are designed to tempt and on the next page are tips about how
    to resist those temptations.
■   Before you begin to shop, be clear about what you want and how
    much you can afford. Sleep on unusual purchases that might
    harm your budget - they might not seem so important the next
■   Get all the information you need. Sales staff shouldn’t lie but they
    won’t tell you everything. Think carefully about what you’re told
    and ask questions to find out everything you need to know to be
    able to make good choices.
■   Sales staff like to ‘upgrade’ customers to more expensive options
    and get them to buy accessories. Don’t let yourself be talked into
    purchases that aren’t important to you.
■   When shopping for bargains, think how much something costs
    and not how much you‘ll save on the full price. Don’t buy
    something just because it’s cheap.
■   Make some personal space in which to make your choices. Sales
    staff don’t want you to leave the shop without buying because
    you may not return or you may return when they’re out or busy
    and so miss out on the sale. But how you spend your money is
    up to you, not them. If this means walking out of the shop, do it.

MONEY : the small print                                        page 12
Supermarket shopping
Your routine shopping for groceries and household stuff could be
your best opportunity to cut spending without having to go without.
It’s said that households routinely throw out up to a third of groceries
unused. You could save a lot just by cutting out this waste.

Here’s some of the ways that supermarkets get you to spend more
than you’d intended on stuff you don’t really want.

■   The fresh fruit and veg are near the entrance. It’s fresh, bright and
    inviting, drawing you in. It’s also heavy and encourages people to
    swap their baskets for trolleys before they even begin shopping.
■   The everyday foods most people buy, like bread and milk, are
    usually far apart, in the hope that as you surf the isles other stuff
    will catch your eye.
■   The more expensive brands tend to be at eye-level; the cheaper
    alternatives higher or lower. The specials are publicised in red, to
    catch your eye. Tempting offers are put at the end of aisles.
■   The stuff children like is at their eye-level, in the hope they’ll nag
    you for it.

If you follow these simple tips, you’ll save a lot of money on what you
may end up binning.

■   Make a shopping list.
■   Don’t shop when you’re hungry or tired: your resistance to
    temptation is lower and your judgment is not as good.
■   Don’t take children: they will distract you and may nag you for
■   Look around for cheaper alternatives. (You don’t have to repeat
    bad choices.)
■   Think about whether BOGOFs (buy one, get one free) and similar
    offers are good value if you don’t have even one of them on your list.

MONEY : the small print                                          page 13
Money problems
From time to time, you will have money problems. We all do. But
don’t let them get on top of you.
■   Rework your budget. This will show how serious your problem is.
■   Cut back on all non-essentials: stop paying for stuff that isn’t
■   Be open with your family to avoid misunderstanding and mistrust.
■   Confide in your close friends – not so they can bail you out but so
    they won’t expect you to carry on spending as normal.
■   Tell the truth to your creditors. Telling someone you can’t pay what
    you owe is always bad news but it is better to be open and
    explain how you will repay.
■   Get expert help – quick! The UK has the best free money advice
    in the world and if you get help quickly, your problem might be
    sorted easily. (Ask at your local library for the nearest advice
    centre or call the National Debtline free on 0808 808 4000.)
■   Be honest with the debt adviser. Don’t just tell him or her about
    your immediate worries but include everything you owe and any
    problems that are just around the corner. (If you budget, you
    should know if you’re expecting a bill you might not be able to
■   Exercise – but do something that doesn’t cost money. It’s
    medically proven that exercise helps to keep us from worrying.
Debt advisers do two things. They check to see if you’re getting all
the money you’re entitled to and they help you see where you can
reduce what you have to spend. But they need you to tell them
everything about your finances so it’s important that you tell them
everything and work with them.

MONEY : the small print                                        page 14
Identity theft
By getting information about you, thieves can pretend to be you and
steal what’s in your bank account or get credit in your name. This is
called identity theft. These routine precautions will help you defend
your money and credit: because they’re all so important, I’ve
squeezed them in.
■   Keep your cards, statements and all related correspondence in a secure
    place – a place where you will notice if they go missing. Shred what you
    throw away.
■   Sign the back of your debit, credit and other cards as soon as you get
■   Don’t choose obvious PINs (like birthdays, car registrations or phone
    numbers). If you have to write down your PINs, disguise them and never
    have them where they could be lost or stolen with your cards.
■   Never give the three-digit security code on the back of your card to anyone
    unless you’re buying something from them.
■   Never lend your card to anyone. Don’t leave it as security or ‘behind the
    bar’ – use your driving license or other ID instead.
■   When you’re expecting a statement or a new card or PIN, look out for it and
    if it doesn’t come, phone to confirm it was sent.
■   Check every bank and credit statement.
■   Check your credit record at least once a year (see page 27).
■   Some of the information thieves want is what you can’t really keep secret,
    like your name, address, date of birth, birth sign and your mother’s maiden
    name. But don’t tell these things to anyone who doesn’t need to know.
■   Don’t respond to phone calls, e-mails or pop-up boxes on websites telling
    you to ‘confirm’ personal information or wanting your account numbers,
    PINs, passwords and other financial information. These are always scams.
■   If you get post or a phone call about credit or a debt you don’t know
    anything about, don’t assume it’s a mistake and ignore it. Contact whoever
    thinks you owe them money and get to the bottom of what happened.
■   Immediately report lost or stolen cards, statements and any other
    documents with important information on them. Keep handy a list of the
    telephone numbers you need.

MONEY : the small print                                              page 15
Bank & building society accounts
Having a current account and a savings account will help you stick to
your budget.
■   Current accounts are to help you manage your money day-by-
    day. Your wages or benefits are paid in and you can get at your
    money by withdrawing it at cash machines. You can pay for stuff
    using a debit card and arrange standing orders and direct debits
    to pay your regular bills. You may get interest on your credit
    balance and may have an inclusive overdraft that allows you to go
    overdrawn by small amounts for brief periods. Different accounts
    work in different ways, so don’t take it for granted that you know
    how yours works. The way it works is explained in the small print.
■   Basic bank accounts are a simple kind of current account for
    people who don’t want the temptation or worry of overdrafts and
    other financial services. They’re simply a place to store your
    money and you won’t get any interest or an overdraft. You can
    usually arrange standing orders and direct debits but you
    probably won’t get a debit card.
■   Savings accounts give you an above average rate of interest but
    aren’t designed for frequent payments in and out. You may have
    to say in advance if you want to withdraw money and there may
    be a limit on how much you can take. You may have a cash card
    but you probably won’t be able to have a debit card or
    chequebook, get an overdraft or pay for things by standing order
    or direct debit. (Savings accounts are sometimes called deposit
    accounts or investment accounts.) I explain about special savings
    accounts called ISAs (Individual Savings Accounts) on page 20.
Muslims often have basic bank accounts or waive the interest on
current accounts because they want to avoid interest (usury or riba).
A better option, however, might be to get Sharia’a compliant accounts
and a good place to start looking is the Islamic Bank of Great Britain
( You can also find other financial services
and investments that are free from any sort of interest.

MONEY : the small print                                      page 17
Money numbers
Do you know a parent and child who share the same name and live
at the same address? If all our accounts were managed using just
our names, addresses and other personal details, it would be easy to
get mixed up. That’s why for bank accounts and credit cards we use
numbers instead.

Bank sort code. Each bank, building society and credit company in
the United Kingdom has its own number that’s called a ‘bank sort
code’. The number is made up on three pairs of two digits, like this:

Account number. Each account is given an account number with
eight digits. The bank sort code plus the account number will identify
your account so that it can’t be mixed up with anyone else’s account.

Card number. Each card has a number that is usually made up of
four sets of four digits embossed across the middle.

PIN (Personal Identification Number). Most people know what
these are: the number you tap into a cash machine or a card reader
in a shop when you use your card. PINs are four digits long and you
should chose numbers that nobody else can guess (don’t, for
example, use your birthday or the last four digits of your phone
number). As the card is no good without the PIN, it’s important that
you don’t tell anyone your PIN (see page 15).

Security code. This is the long number that is usually on the back of
your card, printed along the top of the strip where your signature
goes. The technical name for this number is Card Verification Code
or Card Verification Value. As you must never tell anyone your PIN,
this is the number you use if you use your card to buy something over
the internet or by phone. You usually have to give only the last three
digits in the number.

MONEY : the small print                                      page 18
Choosing accounts
You need both a current account and a savings account, so that you
keep your savings separate and aren’t too easily tempted to spend
them on routine stuff. When choosing accounts, this is what you
should look for.
■   Free and convenient places to withdraw your money. (Don’t end
    up paying to withdraw from other banks’ and building societies’
    cash machines or the privately owned cash machines that you
    see in shops and on streets.)
■   Interest when you have money in the account. (You won’t get
    much but the little bit you do get is better than nothing.) The rate
    of interest will be shown as an AER (see page 25).
■   No interest or arrangement fees when you need an overdraft.
■   A cash card and debit card (see page 4).
■   A printed statement each month and easy access to your current
    balance at cash machines, online or by phone.
■   The advice and support services that would be helpful to you –
    not just when you are in trouble but when you have important
    decisions to make.
Don’t believe everything you are told! Like all businesses, banks and
building societies want to sell what they have and sometimes the
staff try too hard and don’t tell you everything you need to know. So
don’t just take everything on offer.

Think about it like this. You wouldn’t order everything at a burger bar
just because you can. In the same way, choose from what a bank or
building society has to offer after you’ve thought about what you
need, what’s good for you and what you can afford.

If you want Sharia’a compliant accounts, see page 17.

Read all the small print before signing anything.

MONEY : the small print                                        page 19
I hope by now you can see just how important money is to the way
you live. And because it’s so important, saving money can help to
make your life easier and happier. Here’s how.
■   You will be ready if opportunity knocks. If you unexpectedly get
    the chance to fulfil a dream or take a holiday, you’ll be free to
    accept and won’t have to worry about borrowing.
■   You will be better prepared for the unpleasant things that happen
    to us all from time to time. Losing your job, having an accident or
    having something break down won’t necessarily cause a financial
    crisis that adds to your problems.
■   You will be able to enjoy the special times of the year that are
    unusually expensive – like Christmas and birthdays – without the
    debt hangover.
■   You might be able to save on insurance if you have savings that
    can be used to pay for something that’s damaged, lost or stolen.
Your first savings account should be an ISA (Individual Savings
Account). These allow you to save up to a certain limit each year
without having to pay income tax on the interest. If you exceed that
limit, open another – non-ISA – savings account.
Beware of getting an account that doesn’t allow you to withdraw all
your money immediately or charge you a penalty if you withdraw
money within a fixed period (say, 5 or 10 years). These usually give a
higher rate of interest but, to begin with at least, it’s better to have
instant access to your money in case of an emergency.
■   Arrange to transfer a regular amount from your current account
    into your savings account each month. Start small and try to build
    up to 15% of your income..
■   Set yourself the target of saving enough money to live on for three

MONEY : the small print                                        page 20
You can buy insurance for your health, house, possessions, income,
credit, car, pets and almost any misfortune that you could imagine
happening to you. When you buy something new, like a tv or iPod,
you’ll probably be offered insurance that extends the usual one-year
guarantee to three or five years (it’s called ‘extended warranty’).

It’s important to have some types of insurance.
■   If you have a motorbike or car, the law requires you to have
■   It’s usually a good idea to insure the possessions in your home, in
    case they’re stolen or damaged.
■   When you go abroad for a holiday, depending on where you go
    it’s sensible to get insurance to cover your luggage, health and
    any legal problems you might have.
A lot of people end up paying for insurance they don’t need. These
mistakes are surprisingly common.
■   Buying insurance that’s no use at all. Many people who are
    unemployed or retired get insurance in case they lose their jobs.
    (Yes, it really happens!)
■   Insuring something unnecessarily. When you’re invited to extend
    the guarantee on something, think if it’s really a good idea. Might
    you replace the item for a later or better model before then?
■   Paying for overlapping insurance. For example, some building
    insurance covers water and gas pipes, and some home insurance
    covers what children take to university, so separate policies for
    these aren’t always necessary.
■   Over-insuring something. This is where you insure something for
    much more than its value, and so pay more in premiums than you
    need to.

MONEY : the small print                                       page 21
Later in this book I explain how credit works but here are a few tips
to help you decide when to borrow.

It’s important that your borrowing fits into your budget. If you’re
struggling to make ends meet, borrowing may seem the easy way
out. But if you borrow what you can’t repay, your problems will only
get worse. So before you use credit, be clear about four things.

■   Can you afford all the repayments? What will you have to go
    without while you’re repaying the loan or clearing your overdraft or
    credit card balance? Will you still be able to pay when you go on
    holiday or at Christmas?
■   Is it worth it? Borrowing increases the cost of what you buy so
    work out just how much you’ll pay, including all the interest.
    Forget the interest rate for the moment: just add up all the
■   Is it the smart thing to do? Don’t end up paying for something
    after you’ve stopped using it. How long will you keep playing the
    computer game, for example, or wearing the clothes? (Go to
    page 26 to read about redundant credit.)
■   Could you cope if something stops you making a repayment? Will
    you be able to pay the default penalties and charges? They’re in
    the terms and conditions (the ‘small print’) so check them out
    before you sign anything.

Cash and debit cards are not safer than credit cards because ‘it’s
your own money’. If you withdraw or spend more money than you
have in the account, the penalties and interest on the overdraft could
quickly sink you into serious debt.

MONEY : the small print                                        page 22
There are many good reasons for giving to charity and other good
■   In a society that places so much emphasis on owning things, it’s
    healthy to help others who are less fortunate than you.
■   If you can provide for all your own essential needs, you should
    offer help to people who don’t have the essential things they need
    rather than indulge your own wants.
■   Humans are wired for community. This means that we are
    incomplete as people if we do not interact with others – not just
    with the people we count as friends but others in our community.
■   We all share responsibility for our planet.
■   Helping others to fulfil their potential helps us to fulfil our own.

But... Don’t give to charity if you can’t afford to – and don’t give just
because the people around you in your college or workplace do.

If you want to help a charity but can’t afford to, try offering your time
and skills instead. This can often be more valuable than your money
and is a good way of meeting new people and making friends – and
even learning new skills and getting some work experience.

Don’t text votes for tv reality shows because it’s just too easy to lose
track of how much you spend. Although some of the money raised
may go to charities, it’s better to give direct.

When you give to charity, include it in your budget. See if what you
give can be gift-aided or exempt from income tax in another way.
(You can find out more about this at:

The word ‘charity’ is from a Greek word that means love in action.

MONEY : the small print                                           page 23
How credit works (APR & AER)
Credit is renting money and the rent is called interest. When you rent
a car, the amount you pay depends on the type of car, how long you
want it for and your track record as a driver.

When you rent money (borrow), the rate of interest is called APR
(Annual Percentage Rate) and it depends on the type of credit
(overdraft, personal loan, credit card and the rest), how long you want
it for and your track record handling money. When you save money,
the rate of interest is called AER (Annual Equivalent Rate) and
depends on things like how much you save, how long you leave it
alone and how quickly you want access to it.

APR is the cost of borrowing money for one year. It includes interest
and fees. It was created to make it a bit easier to compare similar
financial products. For example, if one loan is 8%APR and another
9%APR, that means that you pay more interest each year on the
second loan.

Does this mean that the higher the APR, the worse the deal? No –
not necessarily! If you’re looking at different types of credit, the higher
APR may be the extra cost you pay for more conveniences. For
example, the APR on a credit card is usually higher than on a loan
because of the convenience of using the card and your freedom to
decide how much to repay each month.

Remember, APR is the annual rate. How long you pay it is just as
important as how much. A loan at 9% APR repaid in one year is
cheaper than a loan at 8% APR repaid over two years. The APR for
credit cards is called Typical APR and is explained on page 29.

AER is the amount of interest your savings would earn in one year if
all the interest was all paid to you just once a year. Like APR, it’s a
way to compare similar types of savings schemes. But also, like APR,
you have to keep in mind other things, like how quickly and easily you
can withdraw your money. There’s more about saving on page 20.

MONEY : the small print                                          page 25
Credit, redundant credit & debt
‘Credit’ and ‘debt’ are two words that often are mixed up today.
Some people will say that all credit is actually debt and this might put
you off using credit. But that’s not helpful because, used properly,
credit can help you do things that you’d otherwise miss out on – like
attending university or buying your own home.

A hundred years ago, people would often pay butchers, grocers and
other traders just once a month – but they weren't considered to be
in debt unless they couldn't pay on the agreed day. We need to be
just as realistic today. I put groceries and other regular purchases on
my credit card and routinely pay off the total each month but I don't
consider that debt.
■   Credit is borrowing money that you can and do repay on time and
    in full, as you agreed with the lender.
■   Debt is something you owe but can’t or don’t pay (an overdue
    phone bill, for example, or a loan repayment).
Beware of paying interest on redundant credit – that is, credit where
you’re no longer using what you bought. If you buy a tv or music
centre, you might want to repay the loan over one or two years
because you should be using them for that long. If you buy a DVD or
CD, you should repay the loan within one or two months because
you probably won’t be playing them after that. If you borrow to pay
for a holiday, repay the loan before you take another holiday. If you
buy cinema tickets or a restaurant meal, repay the credit at the
earliest opportunity!

Although credit can be very useful, in a society where money is so
important, debt will impact your entire lifestyle. It weighs you down,
stops you from being the person that you enjoy, doing the things in
life that you like and realising your dreams. Poverty causes poor
health and social isolation: you might struggle to do well in your job
or be a good friend to those around you.

MONEY : the small print                                        page 26
Credit Reference Agencies
When you apply for credit, lenders want to know three things about

■   Your ability to repay. This is very difficult because, although they
    may know how much money you have coming in, the information
    isn’t much use if they don’t know what you need to spend it on.
    It’s therefore important that you don’t mislead them.
■   Your general stability. This can be demonstrated by how long
    you’ve lived at the same address or been in the same job. It
    indicates whether you’ll stick with the credit agreement.
■   Your reliability. This is something that Credit Reference Agencies

Credit reference agencies are companies that hold personal
information about people that banks, credit companies and other
businesses find very useful. This is the sort of information held.

■   Address.
■   Bank and building society accounts, credit cards and loans.
■   Court orders for debt.
■   Fines and fixed penalties.
■   Bankruptcies and insolvencies.
■   Any problems repaying credit.
■   How well current credit commitments have been repaid recently.

Most of this information is kept for six years and so it could take that
long for a problem to vanish from your record.
It only costs a few pounds to check your credit record to make sure
it’s accurate and nobody has obtained credit in your name (see page
15 about identity theft). Do this at least once a year.

MONEY : the small print                                        page 27
How credit cards work
Some people say that credit cards are an easy way to spend what
you don’t have and get into debt. Others think they make it easier to
manage a budget and get through any problems. It all really depends
on who you are and what you need.

It is handy to have a credit card because:
■   You don’t have to carry around so much cash.
■   Unlike a debit card, you get a statement before you pay for the
    things. This lets you spot any mistakes or identity theft before
    losing your money.
■   You get extra protection when you buy things that cost between
    £100 and £30,000 because the credit card company is equally
    liable with the supplier if the goods are faulty.
■   Some cards insure the items you buy for a few days or weeks
    immediately after you buy them.
■   It’s a handy way of getting a short-term loan that may help in an
It is risky to have a credit card because:

■   You may be tempted to buy what you can’t afford.
■   You may lose track of what you’re spending.
■   It’s a very expensive way of borrowing if you don’t pay off all you
    owe each month.
■   You may end up with a debt that keeps you from spending your
    money on what is really important to you.
If a credit card is the way to go for you, choose well (see the next
page) and read all the small print.

MONEY : the small print                                       page 28
Choosing credit cards
Credit cards don’t all work in the same way and APR (Annual
Percentage Rate) isn’t much help finding yourself a good one
because the way it’s calculated might not reflect the way you will use
the card.
The APR for credit cards is called ‘Typical APR’. This is because we
can use credit cards for different things: to buy things, to withdraw
cash and to pay off other debts (called balance transfers). Each of
these may have different interest free periods and different APRs, so
that the interest charged on a £10 purchase and a £10 cash
withdrawal will be different.
As people use their cards in different ways, the APR can’t be the
same for all of them. That’s why we talk about Typical APR – the APR
that applies to at least 60% of the people who use the card.
How will you use the card? Will you use it for purchases or transfer
on to it other money you already owe? To find out if a card is right for
you, read the small print right through.
Many cards try to attract you with extras like ‘cashback’ and airmiles.
(Cashback is where you get a tiny percentage of the value of your
purchases refunded once a year.)
■   If you use the card to buy things, and intend to pay off the balance
    each month, it’s probably best to go for any useful extras, like
■   If you intend to transfer existing credit or debts, look for the
    longest interest-free period and lowest APR at the end of it.
■   If you want to withdraw cash – DON’T! Cash withdrawals on a
    credit card are usually an expensive way to borrow and you
    should do it in a genuine emergency only. Credit card cheques are
    usually treated as cash withdrawals – so don’t use them either.
Remember: read all the small print before you sign anything!

MONEY : the small print                                        page 29
Clearing credit
How much are you paying for credit? Even if you can make the
minimum repayments comfortably, you should budget to reduce the
amount you owe as quickly as possible. This reduces your
vulnerability to problems and the money you save on interest is like
giving yourself a pay rise.
Here’s a plan.
1. Make a list of everything you owe and, for each amount, the
   minimum repayment you need to make.
2. Work out how expensive each of your credit commitments is. For
   example, the APR on a credit card is probably much higher than
   on a personal loan or overdraft.
3. List all your commitments in order, from the most expensive to the
4. Your budget should already include all the minimum credit
   repayments you have to make. Now rework your budget to see
   what money you can free up to repay the most expensive credit
   as fast as possible.
5. Cut up all your credit cards, except one or two that you could use
   in an emergency.
6. As you clear one credit commitment, add that payment on to
   what you are already repaying off the next most expensive. Keep
   doing this until everything is paid off.
When you’ve done this, get into the habit of paying off everything on
your credit cards each month and repaying any overdraft you use
within four weeks. There will be exceptions to this routine but they
should be rare.
If you’re thinking of transferring balances to a lower APR, remember
to first check if you have to pay a handling fee.
Don’t put new purchases on the same credit card as balance
transfers because your payments will be used to clear the cheap
transfers before the purchases that generate more interest.

MONEY : the small print                                     page 30
Arrears and catch-up
The final part of this book looks at a few general tips that will help you
make the most of your money.
When people move into a new home, it can be very difficult for them
if the local council doesn’t quickly work out how much rent or council
tax has to be paid. This is true for everyone but especially for people
leaving care, on a low income or entitled to housing benefit. The utility
companies that provide water, electricity and gas can cause the
same sorts of difficulties.
■   To begin with, you may not get a bill and it’s very easy to spend
    the money you should be putting aside for when you do. This
    creates a false expectation about how much ‘spare cash’ you
■   Later, you’re expected to catch up. This means you not only start
    paying the regular amount but also extra to clear the arrears. And
    so you have even less money than you should have to live on.
Here’s what to do.
■   Right from the start, put aside what you think you’ll need to pay
    for rent, council tax, water and the rest. Someone at an advice
    centre should be able to help you estimate what this is. Keep the
    money in your savings account, so it earns a bit of interest.
■   When you’re asked to pay the arrears, only agree to pay what you
    can afford. (After all, had they worked out the amounts sooner,
    you wouldn’t have this problem.) If they insist that you pay more
    than you think you can, immediately get expert help from an
    advice agency. Read about tackling money problems on page 14.
You can find an advice centre by contacting one of the organisations
listed at the front of this book.

MONEY : the small print                                         page 32
Your job
Your job is your most valuable source of income.
■   Make sure you’re paying the correct amount of income tax. When
    you start work, HM Revenue & Customs sends you a notice
    informing you of your tax code. A copy goes to your employer
    who uses it to work out how much tax to deduct from your pay.
    It’s important to check that the code is correct because you don’t
    want to pay too much tax (although you’d get it back later) and
    go without money you’re entitled to, or pay too little and have to
    pay extra later.
■   Check if you’re entitled to tax credits or income support.
■   Take packed lunches to work: they could save you a whopping
    £1,000 a year!
■   Don’t go out for lunch or a drink with your colleagues if you can’t
    afford to do it. (You don’t have to tell them you’re broke but can
    make some excuse.)
■   If you buy a travel card or top up your Oyster for work, give it
    priority and do it the same day you get paid.
■   Don’t feel pressurised into joining in office gambling, like Lottery
    syndicates or sweeps. Don’t feel that you must give to the office
    charity, to be like everyone else.
■   Don’t try to do everything at once. Even if you have more money
    than ever before, your responsibilities and opportunities have
    increased too.
■   Don’t start expensive new sports or hobbies but find new ways to
    relax without spending.
■   When you’ve been in full time work for a few months, think about
    starting a pension fund. Get expert, independent advice from a
    number of different places. There’s more about pensions on page 35.

MONEY : the small print                                          page 33
Your home
If you have a place of your own, do everything you can to keep it. This
means paying your rent, council tax and other bills on time and in full.
If that means you have to give up doing some of the things you enjoy,
then make that sacrifice. If you still can’t pay everything, get help
before the payment is due (see page 14 about tackling money
problems). That way, people will know you’re serious about making a
go of it alone.

■   Pay your rent by direct debit or standing order, so that you don’t
    forget a payment and get a reputation as a bad payer.

■   Arrange to pay your council tax by direct debit. This allows you to
    spread the payments across ten months of the year and avoid
    missing a payment. If you do miss one, the council could get a
    liability order from a magistrates’ court and you will then also have
    to pay the extra costs added by the court. If you still don’t pay, the
    liability order could be passed to a bailiff to enforce and that could
    be very expensive for you.

Homelessness quickly leads to serious financial problems that can
make it seem as if committing crime is the only way to survive. Don’t
get sucked into any of this. Being homeless is tough. If you think it
might happen to you, take action to prevent it by sorting out
whatever the problem is. Get help immediately if it happens to you.

■   Ask one of the housing officers at the local authority for guidance
    (they have a duty to give you advice and information).

■   If you still don’t know what to do, contact Centrepoint (if you live
    in London), Shelter or Crisis. Or contact a local advice centre.

You have rights. It’s not always easy to find out what they are but if
you remain focused and polite, you can get people to help you.

MONEY : the small print                                          page 34
Your pension
Retirement might seem a very long way in the future but you need to
start thinking about a pension as soon as you settle into working full
time. There are three basic types of pension.
■   State pensions are paid for by national insurance contributions,
    which most employers deduct from wages and pay straight to the
    Government. If you’re self-employed, you need to pay your own
    contributions. If you’re not working, and in some other situations
    (for example, if you receive carer’s allowance), your contributions
    are credited to you. The basic idea is that everyone who pays (or
    has credited) national insurance contributions during their working
    life gets a State pension. You can check what contributions
    you’ve made and what pension you can expect (a ‘pension
    forecast’) by contacting The Pension Service at or on 0845 6060265.
■   Occupational pensions come with some jobs. They’re an
    arrangement for both you and your employer to pay into a
    pension scheme for you. There are different schemes and in some
    you can pay extra to increase the amount of pension you get
    eventually. You may be able to opt out of the scheme – but you
    should only do so after taking independent advice and being
    satisfied that you can get a better deal elsewhere.
■   Personal and stakeholder pensions are ones you set up for
    yourself with a pension provider (often a bank, building society,
    insurance company or your employer). You pay into a special type
    of savings account and, when you retire, use the money to ‘buy’
    a pension. These schemes are usually flexible, allowing you to
    save what you can when you’re able – but obviously your pension
    depends on what you’ve saved. Get independent advice from
    different places before setting up a personal pension.
The Government encourages us to save for our retirement by giving
tax relief on our contributions. This can work in different ways,
depending on the type of pension, so find out what applies to you.

MONEY : the small print                                       page 35
Making a Will
It’s true! Everyone who makes a Will dies! But so does everyone else,
It is a sad fact of life than many people believe that if they make a Will,
they in some way hasten their death. This, however, only happens in
murder mysteries.
Here are some good reasons why you should make a Will, even if you
haven’t got much to leave.
■   You will appoint someone, or a couple of people, (called
    executors) to organise your affairs.
■   You decide how your assets are shared out (if you don't make a
    Will, the law says who gets what).
■   If you aren't married or in a civil partnership, you can make certain
    that your partner is provided for. (Even long-term partners have no
    automatic rights to their deceased partners’ assets.)
■   Your relatives will be able to follow your instructions and this may
    prevent unnecessary arguments at a difficult time for them.
■   There may be less inheritance tax to pay.
Making a Will is fairly straightforward and these are some of the
things you should include in it.
■   The names of your executors.
■   Specific gifts of the things you own or amounts of money.
■   The person or people who should get everything else you leave.
There are websites and books available to help you make a Will and
advise you where to keep it safely. Or ask someone at your local
advice centre to recommend where you can get help.
At the same time as making a Will, think about who would look after
your children if the worst came to the worst. Who would you trust to
look after them? Get advice and make the necessary arrangements.

MONEY : the small print                                          page 36
Being good with money
There is no one thing that makes people good (or bad) with money
but the following make a difference. Like the identity theft precautions
on page 15, I’ve squeezed in as many as possible.
■   Knowing yourself well enough to know what’s important to you and how
    you can economise.
■   Knowing how much you have. Right now! How much in your pocket and in
    a bank or building society.
■   Knowing how much you owe. Not just missed payments but also what’s
    due in the next few weeks or month.
■   Budgeting: putting aside time each week to see how you’ve used your
    money and to see if you have enough to do everything you want in the
    coming week.
■   Reading the small print before you buy financial products: it’s the only way
    to understand what you’re buying and what will happen if things go wrong.
■   Being honest. Paying what you owe on time and in full and not trying to
    dodge your responsibilities.
■   Keeping back what you need to pay a bill next week or next month, rather
    than spending what feels like spare cash.
■   Planning to mix and match skirts/trousers/tops/jackets/shoes to create a
    variety of outfits without spending a lot.
■   Arranging to pay your bills and to save by direct debit or standing order.
    Arrange for them to be paid four or five days after your wages or main
    income reaches your account; this avoids problems if payments are early
    or late at special times of the year, like Easter and Christmas.
■   Saving. Not just for special occasions and unexpected opportunities, like
    holidays, but for when things go wrong so you don’t have to borrow.
■   Understanding how credit works and how to recognise a good deal – one
    that’s good for you.
■   Sorting money problems as soon as possible.
■   Not buying stuff just to look good or because your friends have it or to keep
    up appearances.
■   When you can, giving to charities and other good causes.

MONEY : the small print                                                page 37
Personal reflection
Finance is a religion and money is its god. We spend more time
worrying about how much we have, how much we’re getting and
where it’s all going than our grandparents spent in church.
I am a Christian and influenced by Jesus of Nazareth. He taught more
about money and wealth than almost anything else because he saw
how their abuse could dominate and devastate our lives.
It was one of his early disciples, Paul, who first said that the love of
money is the root of all evil. The love of money is called Avarice and
it’s an evil we don’t hear much about today. It used to be known as
one of the ‘seven deadly sins’: it was deadly because it could kill your
soul, the real you.
A root usually grows underground, out of sight, from where it
nourishes the whole plant. We all carry in us an unconscious
understanding about the way the world works that affects how we
live in it.
There’s nothing wrong with being rich and success might bring you
riches to enjoy. It’s wanting too much to be rich that is so dangerous.
Deep inside us is the idea that money can get us pleasure, security,
health, status, power or whatever else that we think we need. This
can come to dominate us. It is the reason that ordinary people
sacrifice their families, friends and ambitions just to accumulate
money. But Jesus taught that a person’s life isn’t made up of the
abundance of the things he or she possesses.
What I have written is not just for people who share my religion but
for people of all religions and none – except those whose religion is
finance and whose god is money.
This is for everyone who hopes for a better way to live than that.
                                                           Philip Evans

MONEY : the small print                                        page 38
These books have more useful information about handling money
well. You might be able to buy used copies cheaply online.

Personal Finance Handbook by Jonquil Lowe
(published by the Child Action Poverty Group).
This has a huge amount of detailed information. Don’t be put off by
the name of the publisher: it’s a book for everyone.

Your Money Or Your Life by Alvin Hall.
The Money Secret by Rob Parsons.
These are two well-written, easy to understand guides to money

The Seven Laws Of Money by Michael Phillips.
This was written in the 1970s but remains a fascinating introduction
into developing a right relationship with money.

                       Philip Evans is an independent personal finance
                       tutor who writes and lectures about financial
                       education, money, debt and related social

                       His website is:

                       Photo courtesy of CCRmagazine/Angela Willcox
         MONEY: the small print
             ■    work out what really counts.
             ■    know what to do and how.
             ■    plan well; do well.

A friendly, practical guide to handling money well. There's a lot of
useful information packed into this little book that can help change
people's lives for the better.
Steve Meakin (Chair of the Institute of Money Advisers)
We all make mistakes and most people have money problems from
time to time but this book will help people avoid some of the common
errors and make the most of what money they have.
Richard Bramham (Managing Director of EuroDebt Financial Services)

  Surrey Education
 Business Partnership

                                               9 780954 390747
     This edition has been funded by
      EuroDebt Financial Services.                 Not for re-sale

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