The European Central Bank (ECB) today announced a 0.25% cut in the ECB interest rate, bringing and nbsp;the current rate down from 1.5% to 1.25% with effect from 9 November 2011. So, what might this decrease mean for you?

If you have a tracker mortgage, the interest rate on your mortgage should reduce by .25%. However, this change may not be immediate. The terms and conditions of your mortgage will show how quickly your lender will pass on the cut to you. Use our mortgage rate change calculator to work out the reduction in your mortgage repayments. For example, if and nbsp;your mortgage balance is and euro;250,000, with 25 years remaining on the term and with an interest rate of the ECB rate + 1%, your monthly repayment should fall by about and euro;30 per month.

If you are on a variable rate, your lender can decide whether they will pass on the decrease to you. You should check with your lender directly, to find out if they plan to pass on the rate cut and when it will come into effect.

If you are on a fixed rate, your repayments will not change.

If your home has been damaged by flooding and you need to make an insurance claim, the first thing you should do and nbsp; is contact your insurance company immediately. You will probably want to start repairing the damage to your home straight away but it is best to talk to your insurance company first. Many companies have an emergency number that you can call to report that you have been flooded and request a claim form.

Before you call them, check your policy documents to see what you are covered for. Different policies provide different levels of cover and see what and nbsp;level of excess, if any, applies.

Ask your insurance company what you need to do next. For example, they may ask you to carry out some emergency repairs, to prevent further damage to your home. Be sure to ask if they will cover the cost of these repairs, and keep receipts for any repairs that you have carried out. It and rsquo;s a good idea to record the damage to your home, for example you could take photos, make a video, or list and nbsp;the damaged items, which might help the insurance company in their assessment. Some policies pay for the cost of alternative accommodation if you cannot live in your home, so check what you are entitled to.

Your insurance company will consider your claim and decide whether your policy covers you for the costs of the damage. It is your choice to accept their settlement. You can negotiate with your insurance company or broker if you are unhappy with their offer.

If your claim is refused, your insurance company must write to you to explain why. Claims can be refused for a variety of reasons, for example flood damage may not be covered by your policy or there is insufficient proof of damage or loss. We have some practical information on dealing with the aftermath of a flood, which will also help you when making your claim.

We have just launched our new interactive banking cost comparisons to help you compare the deals available on current accounts, loans, savings products, mortgages and credit cards. Our cost comparisons are completely impartial, we do not recommend or sell any products. They are also up-to-date and are free and easy to use.

Could you earn more interest on your savings?
If you have money to save, we have a regular savings comparison or a lump sum deposit comparison. and nbsp; The comparisons are quick and easy to use, just enter the amount you want to save and for how long and the results will show you the available options. The interest, (AER) on savings currently ranges from 2.4% to 5% for regular savings accounts. So, if you save and euro;150 a month, the gross interest earned after one year can vary from and euro;23 to and euro;48 across different providers, which can really make a difference to your pocket. and nbsp;

Keep your credit card under control
The current interest rates, (APR) charged on credit card purchases currently ranges from 13.6% to 22.7% so it really pays to compare. and nbsp;The new credit card cost comparison also has a new and lsquo;clearing your credit card and rsquo; ready reckoner, which helps you to work out how long it will take you to pay off your credit card debt if you stop using your card completely, based on your current card compared to switching the debt to another card. For example, if you currently have a balance of and euro;5,000 on your card with an interest rate of 22.7% and you make monthly repayments of and euro;250, it will take two years and two months to pay off the balance. If you swap your debt to a credit card charging zero % interest rate on balance transfers, it will reduce the time it will take you to pay off your balance.

Remember, if you can, always try and pay off your credit card balance in full every month. If you only make the minimum payment it may take years to pay off the balance.

Thinking about a personal loans
The personal loan cost comparison allows you to quickly and easily compare the different interest rates and products available. Just enter the amount you would like to borrow and the length of time you are able to pay it back over and the cost comparisons will show you the different interest rates available to you. For example, if you would like to borrow and nbsp; and euro;5,000 over a three year period there is currently a wide range of interest rates available from 11% to 14.9% and the total cost of credit varies by as much as and euro;300. So it really pays to do your homework and get the best rate you can.

Compare Current Accounts
Our personal current account comparison helps you compare the products currently available so that you can choose the one best suited to your needs. They also provide information on quarterly fees and transaction fees which can vary per product depending on how you use your account.

It and rsquo;s important that you compare as many different providers as you can before you chose the best financial product for you. and nbsp;Credit Unions also offer savings and loans for their members. and nbsp;You can get more information on credit union membership from the Irish League of Credit Unions and the Credit Union Development Association.

Help for Students with their banking
We also have separate cost comparisons for student loans, current accounts and credit cards so that students can also compare the options available to them.

Lots of extras!!
Each comparison page has loads of extra information so that you have a complete picture of any of the products you are interested in, including the costs, risks and benefits. For example if you and rsquo;re thinking about getting a new credit card there is information on how lenders check your credit rating history. and nbsp; Our current account comparison page has a managing your money guide and a step-by-step switching guide, plus loads more!

and nbsp;

and nbsp;

Our new spending calculator shows you how much you are spending on everyday items such as lunches, papers, magazines, cigarettes or the occasional bottle of wine and more importantly it shows you how much you are spending on these items every month and every year.

It gives a breakdown for each spending category like entertainment, transport, gifts and personal items so you can see how much you are spending and how much extra money you could have in your pocket if you reduced your spending in some areas. We all know about the large expenses that we spend our money on, like mortgage repayments, bills and running a car, but it is easy to forget how much we spend every week on smaller items. For example, if you spend an average of and euro;25 a week on entertainment, this adds up to and euro;1,300 a year so managing how much you spend on even the small things can make a big difference. and nbsp; and nbsp;

Try out the spending calculator to see where you could start saving money on your everyday expenses. and nbsp; Saving just a little can help you put money by for bigger purchases. and nbsp; For information on getting the most from your savings, check out our savings and investing section and savings cost comparisons to make sure you are getting the most out of your money.

We also have a budget planner to help you work out your overall budget.

and nbsp;

It can sometimes be hard to know if you are getting a good deal when you are buying a secondhand car. and nbsp; So, we have compiled a handy second-hand car toolkit for you with a five-step guide on what to look out for before you buy, the questions to ask and the pitfalls to avoid:

and nbsp;1. and nbsp; and nbsp;Our toolkit has advice on working out your budget and deciding on how to pay for the car whether it be saving up for the car, taking out a personal loan or buying under a hire purchase agreement.

and nbsp;2. and nbsp; and nbsp;It has information on all the extra costs you need to consider such as tax and car insurance before you decide which car to buy. and nbsp;

3. and nbsp; and nbsp;The toolkit has a guide to deciding on the best type of car for you, and nbsp; whether you need a large family carrier or just a small car for nipping down to the shops. and nbsp;

4. and nbsp; and nbsp;It looks at the differences between buying from private sellers and dealers and how your rights will be affected depending on who you buy from.

5. and nbsp; It and rsquo;s always best to know your rights before you buy. Your rights if things go wrong and nbsp;has advice and actions you can take to help you.

Even with the best of intentions, it and rsquo;s easy to get caught up in the excitement at Christmas and end up overdoing it. The best way to avoid a financial hangover in the new year is to plan ahead and budget.

Our Christmas budget planner sets out the main Christmas expenses such as gifts, food and decorations and also includes some of the less obvious costs that you might forget to budget for, for example, the social side of Christmas.

We also have tips to help you save money on your shopping this christmas and advice on gift vouchers, your consumer rights and online shopping.

We have advice if you plan to use credit this Christmas, and information on personal loans and in-store credit . and nbsp;If you need to use your credit card, take a look at our credit card cost comparison and make sure you are not paying more interest than you have to on your balance.

Check out our and nbsp; tips and nbsp;to help you and nbsp;save money this Christmas. and nbsp;

If you cant meet your mortgage repayments, or youre worried you might fall behind, you should contact your lender as soon as possible. All mortgage lenders regulated by the Central Bank, must have procedures for dealing with you fairly. Under the Central Bank and rsquo;s Code of Conduct on Mortgage Arrears and nbsp;(pdf), your lender cannot repossess your home until every reasonable effort has been made to agree an alternative repayment plan, except in circumstances where you do not engage with your lender. Weve put together some information to help you deal with mortgage arrears, including:

• the options you can discuss with your lender and nbsp;
• the obligations on lenders under the Code of Conduct on Mortgage arrears
• details of where you can go for help.

and nbsp;Remember, it is really important that you dont ignore communications from your mortgage lender. You can also get free independent advice from other organisations such as MABS or you may be able to get help with your mortgage from government schemes.

It was announced today (30 August 2011) that deposits in Northern Rock Ireland will be sold to Permanent tsb, subject to approval by the Minister for Finance. The transfer of deposits is expected to happen later this year. Northern Rock customers can continue to use their savings accounts exactly as before and they continue to be covered under the UK deposit protection scheme until the transfer takes place. Once deposits are transferred to Permanent tsb they will be covered by the Deposit Guarantee Scheme for amounts up to and euro;100,000 per person, per institution. Amounts over and euro;100,000 may be covered by the Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009 (the ELG Scheme).

All terms and conditions remain in place during the transfer and Permanent tsb will write to Northern Rock customers later this year. and nbsp;

Whether you are a first time student, or returning after the summer break, your finances may need a bit of attention. and nbsp; College is expensive, whether you and rsquo;re living at home or renting and you and rsquo;ll find your money disappearing quickly when you and rsquo;re on a tight budget. and nbsp; We have five steps for you to follow to help you manage your money and and nbsp;make the most of your college experience without stressing about your cash!

Our and nbsp;steps cover everything from student banking, to finding accommodation to day to day expenses such as food and travel tickets. and nbsp; Our budgeting tips will help you make sure you balance the books all the way to the end of the college year. and nbsp; We also have some top money saver tips to get the most from your bank balance. and nbsp; You can also check out the Economiser to compare your spending on household bills to other people so you know where you might be spending more than you need to.

Don and rsquo;t forget our student current account cost comparison to compare student accounts across the market. and nbsp; We also have guidance on credit cards and debt.

We and rsquo;ve just published research, which shows that 80% of parents have financial concerns in relation to and lsquo;back to school and rsquo; costs.

Almost half of those worried about the costs said that this was due to having less money or a reduction in income compared to last year. The research also showed that over a quarter of parents do not budget for their child going back to school and almost half had encountered an unforeseen cost, such as payments for school materials or school donations.

Back to School Budget Planner

To help you prepare for these costs, we and rsquo;ve developed a new Back to School Budget Planner. You can use it to make a list of everything that you have to buy for your child. You and rsquo;ll need to estimate the cost of each item, so that you can work out your total spend. If you and rsquo;re not sure about the costs you could check with the school, look online or talk to other parents to get an idea.

Once you know the total cost, you and rsquo;ll see whether you need to prioritise some items and cut back on others. The next step is to work out how much time there is between now and the start of the school term. This will give you an idea of and nbsp;how much you need to save each week or month to cover the costs.

If you don and rsquo;t think you and rsquo;ll be able to save enough and you have no other option but to use a credit card or borrow money, think carefully about your options and make sure you shop around for the best rate and ndash; our cost comparisons can help you.

We and rsquo;ve also published some money saving tips to help you reduce your back to school costs. and nbsp;

If you and rsquo;re taking a trip abroad this summer, you may be planning to use your credit or debit card to buy goods or take out money. If so, make sure you understand the charges before you go, as they can easily add up.

Using your debit card

When you use your debit card to take out money in the eurozone, you and rsquo;ll be charged exactly the same as you would at home. If you qualify for free banking then you won and rsquo;t pay anything for these transactions, however if you don and rsquo;t qualify, you could be charged as much as 28 cent per transaction, depending on your bank. This doesn and rsquo;t look like much, but it can add up, especially if you and rsquo;re taking out lots of small amounts.

If you and rsquo;re using your debit card to take out cash outside the eurozone, for example in the UK or USA, you will also be charged a foreign-exchange fee. Our current account and nbsp;cost comparison and nbsp;has more details.

Using your credit card

You might be tempted to use your credit card for cash withdrawals. However, this can be very expensive as you have to pay cash advance fees of around 1.5% of the amount you withdraw, and there is usually a minimum charge. Some people lodge money to their credit-card account to avoid paying these fees. But you should check with your credit-card provider before doing this, as you may still be charged, even when you are withdrawing your own money. and nbsp;

You should also check whether the money you lodge to your credit-card account would be covered if your card was lost or stolen, and used by someone else, as some providers will not give you back your money if this happens.

With many cards you also have to pay a higher rate of and nbsp;interest (as much as 22%) on cash withdrawals from the day you get the money, and if you take out foreign currency, you also have to pay foreign-exchange fees. You can find out what cash advance fee and interest and nbsp;applies to your card using our credit card cost comparison.

Pay in the local currency

When buying goods or services with your card, you can pay in the local currency, or you may be given the option of having the payment converted to euro at the point of sale. Paying in the local currency will normally cost you less, because the exchange rate given to you at the point of sale is usually less favourable than the rate your bank will give.

Find out more about using money abroad.

and nbsp;

If you bought your home in the last few years, you may now find yourself in negative equity. If you have no plans to move and you can afford your mortgage repayments, then negative equity shouldn and rsquo;t be an immediate problem for you.

However, if you are looking to move up the property ladder (for example if you and rsquo;re planning on having children or moving in together, or you need to move for work reasons) it can become a problem because you may have to sell your home for less than you owe. and nbsp;

So, what are your options? and nbsp;

Stay put and save

If you can put off moving for a little while and you can afford to do it, then you could stay put and try to set aside some savings in a regular savings account to cover the shortfall if you do decide to sell. Or, if you can afford it, another option is to overpay your mortgage. This will reduce the amount you owe on your mortgage, but may only be an option for you if you have a variable rate mortgage (this includes tracker rates). With a fixed rate mortgage, you can and rsquo;t usually make additional payments without penalty.

Try to sell your home and buy another

You could also consider selling your property at a loss. However, you will need to make up the shortfall between what you owe on your mortgage and the proceeds you will make from selling. So, unless you have savings put aside, this will not be an option. And, if you do have savings, bear in mind that covering the shortfall will eat into the deposit that you would use to buy a new property.

Get more information on what to consider and nbsp;

Rent out your property and buy again

Instead of selling, another option is to rent out your property and buy a new one. Of course, whether this is an option or not depends on:

• how much rent you could get and whether it would cover the current mortgage and other expenses
• whether you will be able to get a second mortgage and
• whether you have a deposit to buy a new property

Get more information on what to consider

Rent out your property and rent another

If you cannot stay put, maybe because of a growing family or work, but selling is not an option, you could also consider renting out your own property and renting a bigger home or one in a more convenient location. and nbsp; Again, you and rsquo;ll need to consider whether you can get enough rental income to cover your mortgage and allow you to pay monthly rent on another property.

Get more information on what to consider

and nbsp;

and nbsp;

The European Central Bank (ECB) interest rate has and nbsp;today been increased from and nbsp;1.25% to 1.5%.

If you have a fixed mortgage rate this increase will not affect you. For variable and tracker mortgage holders, your mortgage is likely to increase. and nbsp;Those on a tracker rate should see an increase of 0.25% in their interest rate. and nbsp;If you have a a variable rate, your mortgage repayments should increase by at least 0.25% but your bank will determine the exact rate increase.

Our mortgage rate change calculator can help you and nbsp; work out the changes to your monthy mortgage repayments. For example, if and nbsp; your mortgage is and euro;300,000 over 30 years at 2.25%, an increase of 0.25 per cent will mean an increase of and euro;37 in your monthly repayment.

If you need to cut back, you can use our budget planner to get you started. This will give you a snapshot of your current money situation and help you find areas where you can cut back. The Economiser can help you compare your household spending and give you tips and advice on how you can make savings.

If you think you may have difficulties making your repayments, it and rsquo;s a good idea to contact your bank straight away to let them know, preferably in writing. If you are concerned about your situation and unsure what to do, weve put together some information to help you deal with mortgage arrears.

This time of year, talk always turns to holiday plans and ndash; where you and rsquo;re going, how long you and rsquo;re going for, and, most importantly, how warm it and rsquo;s going to be there. and nbsp; Let and rsquo;s face it, even if you haven and rsquo;t booked a getaway yet, this weather might just get you thinking about it! and nbsp;

But one thing that you may not think about in the run-up to your holiday is how you would cope with becoming ill, having an accident, or losing possessions abroad. and nbsp; This is where travel insurance comes in.

Before you buy travel insurance, check your existing policies. and nbsp; You may have some travel insurance built into your health insurance, or your home insurance policy could cover loss of belongings away from home. and nbsp; If this is the case, you may just need some additional cover and ndash; this could save you money, as it will mean you and rsquo;re not paying twice for the same insurance. and nbsp; However, be aware that if you had travel insurance as a benefit on another policy and that policy has now ceased, or you have cancelled it, you may not be covered.

Shop around to find the product that suits you best. and nbsp; Make sure you find a policy that provides the cover you need, and don and rsquo;t base your decision on price alone. and nbsp; If you are comparing policies, make sure you are comparing ones with the same level of cover to ensure you get the right product at the best price.

Read the terms and conditions carefully. and nbsp; Some policies don and rsquo;t cover mobile phones, lost baggage, or cancelled flights, so you need to be sure that you know what you and rsquo;re covered for, what is excluded, and what excess you may have to pay if you make a claim. and nbsp; Also, if you are planning to take part in any adventure activities while you are away, make sure you specify this when you are choosing your policy. and nbsp; Some policies won and rsquo;t cover you for medical costs if you have an accident during one of these activities.

Pack at least one copy of your policy and deal with any issues straight away. It is worth giving another copy of your policy documents to a family member or friend who and nbsp;is travelling with you in case your bag gets stolen. If something does happen when you are on holiday, you may want to just forget about it until you get home. and nbsp;However, most insurers insist that you report any claims to them as soon as possible, and many of them have a 24-hour claims line that you can phone. and nbsp; Your policy will contain contact details and your policy number, which you will need if something goes wrong. and nbsp; You should be aware that if you are robbed or mugged, you should report this to the local police within 24 hours and get written evidence of the report.

If you need to make a claim, keep all documents and file it as soon as possible when you get home. and nbsp; This is important as your claim could be refused if don and rsquo;t send it in on time, or if you don and rsquo;t have the right paper work.

We and rsquo;ve just updated our life insurance cost comparison. and nbsp; It compares the monthly cost of three different term life and mortgage protection policies and shows that, depending on and nbsp;your circumstances, and nbsp;you could potentially make savings of up to and euro;8,385 for dual life term cover and up to and euro;9,576 for mortgage protection cover. and nbsp;

Review your cover if your circumstances change

If your circumstances have changed recently for example, having a child, getting a divorce or even changing job can mean that you need more, or even less insurance, so it is important to review your life insurance cover every so often.

Save a packet by kicking the habit

Our survey showed further savings can be made if you give up smoking. For example, a 28-year-old woman with a and euro;380,000 term life policy would reduce her premium with her current provider by as much as and euro;311 a year if she quit smoking or and euro;10,874 over the lifetime of the policy. If you have stayed off cigarettes for at least a year, talk to your insurance provider about reductions to your premium.

If you do switch to a new life or mortgage protection policy, you and rsquo;ll need to cancel your old policy in writing. However, you should not cancel until the new policy is in place.

Most people learn more about money skills from their parents than from any other source. So, your kids will be learning about money from watching and listening to you. It is a good idea to encourage children to save from an early age so if they are making their communion and get money from parents and family, it is a great time to start.

Open a savings account
One of the best ways to help children learn about money management is to encourage them to open a savings account. Banks, credit unions and the Post Office offer kids and rsquo; savings accounts. If the account has online access, you can show your child at any time how their savings are growing, as they save a little each month.

Set them a savings goal
It is important that children understand why they are saving, so sit down with them and decide on a savings goal. You can set them short-term goals, for example, if they have a particular and nbsp; hobby or interest and want to save up some money to buy some new equipment for it. A longer-term goal would be saving money for summer holidays or for buying Christmas presents.

Teach them how to budget
Budgeting is one of the first challenges many young adults are faced with when they leave home. So, it is important to teach young children about how and why to budget. You could use an occasion such as shopping for Christmas presents. and nbsp;

Teach them that money does not grow on trees
It is important that children have an understanding about the value of money. You can help them achieve this by giving them pocket money when they help around the house. It is also important that they understand that they may need to make choices when they spend their money.

Keep it fun
Many financial institutions offer novel and entertaining characters to help kids learn about money. They may also offer useful online resources which can help to make savings fun and interesting for the kids. Ask at and nbsp; your local branch to see what additional resources they may have.

and nbsp;Encourage them to keep up the habit
Once your kids open a savings account encourage them to save some of their pocket money and nbsp; regularly. Getting them to put money aside, either as a lump sum or in a regular savings plan, helps form the saving habit.

If you are considering changing your mortgage rate or term, or if you are thinking of making a lump sum payment to your mortgage, our new mortgage rate change calculator can help you.

It will show you the impact of these changes on your monthly repayment and the effect on the overall cost of credit of your mortgage.

The following examples show how the calculator can be used.

Example 1

Anna and Joe have a balance of and euro;155,000 on their mortgage, which is on a tracker rate of 2.5%. They have 20 years left on their mortgage and are considering making a lump sum payment of and euro;15,000 on their mortgage and keeping their term at 20 years.

The calculator shows that their monthly repayment would fall by and euro;79 a month and the overall cost of credit would decrease by just over and euro; 4,000 over the life of the mortgage.

Example 2

Niall and Ciara have a balance of and euro;210,000 on their mortgage, which is on a variable rate of 3.1%. They have 28 years left on their mortgage and are considering reducing the term to 25 years.

This would increase their monthly repayment by just over and euro;71, but the overall cost of credit of their mortgage would fall by and euro;12,170 over the term.

Example 3

Sinead and Paul have a balance of and euro;255,000 on their mortgage, which is on a variable rate of 3.4%. They have 24 years left on their mortgage and are considering switching to a fixed rate of 3.8%, but they want to see what the impact would be on their monthly repayment.

The calculator shows that their monthly repayment would increase by almost and euro;53 a month to and euro;1,342 and the overall cost of credit would increase by almost and euro;15,162 over the life of the mortgage.

We and rsquo;ve just published our latest home insurance cost comparison, which looked at the cost of insurance for eight different consumer profiles and found significant price differences between providers. The most significant difference in price was seen in profile eight where premiums ranged from and euro;257 to and euro;699 - a difference of and euro;442. When you are choosing a home insurance policy, remember the cheapest quote may not always be the best, so you should look for the policy that offers the benefits and cover you need. If you want to make savings, don and rsquo;t be afraid to haggle with your provider.

What does and lsquo;all-risks and rsquo; cover
The cost comparison also examined all-risks cover. This is usually an optional extra under most home insurance policies which protects against loss or theft of, or accidental damage to, personal valuables. If you request all-risks cover for unspecified items (profiles four, five and six in the cost comparison), there are a number of items that are typically excluded including laptops, hearing aids and mobile phones. If you want cover for these items, you must list them as specified items. and nbsp;

If you have a smart phone or a laptop that would be expensive to replace you might consider listing it. However, you need to bear in mind that the excess, which can range from and euro;125 up to and euro;500, might be more than the value of the item. It and rsquo;s also worth considering the impact that making a claim for a relatively low value item will have on your no claims bonus and your premium. For this reason, you may be better off looking at other options such as specific phone or laptop insurance.

Effect of flooding claims
The cost comparison also highlighted the difficulty that exists for consumers with recent claims for flood damage (profile 3). No firm would provide flood cover for customers who were in this situation. and nbsp;We requested quotes excluding flood cover for the same profile and three out of nine firms quoted. There was relatively little difference in the quotes, which ranged from and euro;319 to and euro;334. If you are finding it difficult to get quotes for any reason, it and rsquo;s worth approaching a specialist broker that deals with a number of insurers. They can offer you help and advice.

Reducing rebuilding costs can lower premiums
When the rebuilding cost of a house in Co.Kilkenny (profiles seven and eight) was reduced from and euro;210,000 to and euro;170,000, the annual premium decreased by and euro;50 on average. While it and rsquo;s very important not to underestimate rebuilding costs, it and rsquo;s worth checking the current cost of rebuilding your property, particularly as these costs have decreased in the last few years. A guide to rebuilding costs can be found at the Society of Chartered Surveyors website, www.scs.ie.

If you have a tracker mortgage with Permanent TSB, you may have heard about an incentive they are offering to their tracker mortgage customers.

Under the offer, you can make an overpayment of and euro;5,000 or multiples of that sum, up to a maximum of 50% of your current mortgage balance. The bank will give a 10% bonus, so if you make a payment of and euro;10,000 off your mortgage, PTSB will add a further and euro;1,000.

PTSB have confirmed that if you avail of this offer, it will not affect your tracker rate. The overpayment will not reduce your monthly repayment. However, it will reduce the term of your mortgage and the amount of interest you pay over the remainder of the term. Before you make any decision, ask for a breakdown of how much interest you will save and how much time will be knocked off your mortgage. and nbsp; and nbsp;

The offer is available from 18 April 2011 for a period of two months but may end sooner, depending on how many customers sign up.

There are a number of prepaid cards available on the market as an alternative to credit cards. The advantage of a prepaid card is that it helps you to budget as you can only spend what you have put on the card. You usually do not need to go through a credit check and can use the card to make purchases online or instore. and nbsp; So, if you no longer want to have a credit card or are finding it difficult to get one, then you have the option to buy a prepaid card instead.

However, you need to be aware of the charges for these cards. They vary depending on which provider you choose. Some cards charge a monthly fee that can eat into your balance. Others charge a fee to withdraw cash at an ATM, or a fee to top-up and purchase the card. If your prepaid card charges an inactivity fee -a monthly fee charged after and nbsp;a period of time if your card has money on it and you are not using it- this will reduce your and nbsp;balance. You may also have to pay stamp duty on some prepaid cards. and nbsp; The table below and nbsp;is a guide to and nbsp;some of the charges you may pay and nbsp;if you use a and nbsp;prepaid card:

and nbsp;

You won and rsquo;t receive a statement for your prepaid card, so you should keep track of your spending by registering on your card issuer and rsquo;s website to view your spending and balance online. Or you can register to receive balance details by text. and nbsp;

Some gift vouchers also work like prepaid cards in that you can use them and top them up in a number of retail outlets. However, make sure you check the terms and conditions carefully as some may charge you a monthly service fee after a period of time, which can eat into any unused balance.

You can also buy a prepaid voucher and nbsp;to make a once-off purchase online. You pay for the vouchers as you buy them. For example if you wanted to buy a prepaid voucher worth and euro;100, it may cost you and euro;102.50.

If you are looking for ways to stay within budget, try working out your monthly budget using the budget planner. If your goal is to reduce your regular bills, you could see first how your spending compares to others and nbsp;using the Economiser. Our Consumer Value section has lots of handy hints to help you save money as well.

and nbsp;

and nbsp;