Bridging

The manager of Arsenal football club could have blown £30m on one signing if he had wished to during the recent transfer window, according to reports.

Arsene Wenger would have been given the funds for a single player if he’d have asked, a high-ranking executive at the club said.

Danny Fiszman, quoted by the Guardian newspaper, said the answer would have been “absolutely yes” if Wenger had requested a kitty for a big name.

Mr Fiszman, who is Arsenal’s second-largest shareholder, also said the club was in good financial shape even before it played a sensible game in the transfer market.

Other English clubs have spent big in the summer, with Chelsea spending £8m on Portuguese play maker Deco and £16.2m on his defensive compatriot Jose Bosingwa.

Arsene Wenger is known for buying lesser-known players and moulding them into world-class operators.

In 1997 he bought French striker Nicolas Anelka for £500,000 and later sold him in 1999 for £22.3m to Spanish club Real Madrid.

Arsenal have not won a trophy since 2005 but are known for a distinctive passing style which has won plaudits over the last three years.

Article supported by Physioroom.com, Tennis elbow suppliers.

Tesco says it is hoping to help people save money during the credit crunch by offering a new range of pay-as-you-go mobile deals.

The supermarket giant uses the O2 network to run its Tesco Mobile programme and is aiming to attract a broader range of customers with the changes.

As part of the overhaul, four pay-as-you-go tariffs have been scrapped in favour of a single new rate charging 20p a minute for phone calls and 10p per text.

Mobile customers on the deal can also pick four people who they can phone for just 10p a minute and text for 5p a message.

David Taylor, chief marketing officer for Tesco Mobile, said: “Right now, everyone wants to make their money go further, so we’ve been looking for ways to help our customers save.”

The company is also re-branding and re-marketing Tesco Mobile as a whole, and said the new look would reflect its identity and that of O2.

Broadband services, landlines and contract mobile phones are also offered by Tesco, which has the largest share of the UK groceries market.

Looking for Mobile Phone Deals?

According to Mark Gettinby, of Help the Aged subsidiary intune group, people are increasingly using equity release plans. Equity release plans allow retirees to boost their finances by releasing tax-free cash from their homes. The two most common options are lifetime mortgages and reverse mortgages.

Mr. Gettinby adds that more and more retirees are using equity releases to repay mortgages and other outstanding debts. He advises anyone considering an equity release plan to “seek independent advice from a specialist before proceeding.”

Dean Mirfin, business development director of Key Retirement Solutions, expands on Mr. Gettinby’s advice by stating that without a specialist’s counsel, people can easily pay too much for the plan, as salespeople eager to make a sale cannot be trusted to assist with consumer in finding the best deal.

As a result of poor financial planning, over 50% of UK residents overspend during Christmas, the Department for Work and Pensions (DWP) stated. This excess in spending results in financial difficulties for individuals and families, frequently causes an inability or struggle to pay bills on time or at all.

The DWP suggests people make efforts to gain control of their finances if they find themselves in this situation, as it can ease anxiety. One such control mechanism that the DWP suggests is to consolidate debt.

In related news, the DWP recently publicly stated plans to create a new child poverty division. According to their studies, the UK government has assisted 600,000 poverty-stricken children in the past ten years alone.

Rising gas and electricity prices, in addition to the current credit crises are a few of the factors blamed in new reports showing the vast amount of UK residents who have gone without paying bills.

According to a new survey by YouGov, for MoneyExpert.com, over six billion bills went unpaid since 2007. Some of the statistics included:

• 2.3 million either failed to pay their council tax bill or paid it late
• 1.3 million failed to pay energy bills
• Nearly 3 million failed to pay credit card bills

MoneyExpert.com chief executive, Sean Gardner reflected, “Paying one bill late is not something to panic about. But if you find this is becoming something of a habit then you need to take action. Missing bills can have serious consequences, whether it’s losing a service altogether or even ending up in court.”

With many reports clamouring about the expected increase in personal insolvency cases in 2008, and KPMG forecasting the number to increase by 30%, one expert chimes in on the matter. James Falla, director of Thomas Charles, a prominent advice service, confirms his corroboration with the research.

However, Mr. Falla points out that expected increase in personal insolvency includes bankruptcies, Individual Voluntary Arrangements, and informal debt management plans. He notes, in addition, that it is impossible to accurately measure debt management plans.

Owning a dog can certainly be expensive; proper food, grooming, and care for when you are out of town all add up. One of the most expensive costs in owning a dog can be the trips to the veterinarian, which can easily tally in the hundreds. 

Tesco Pet Insurance has stated that for the 5.2 million dog owners in the U.K., financial planning for both unexpected and expected costs is important. The company reports that only 12% of dog owners take out insurance policies for their pets, even though they can drastically reduce bills at the vet’s office.

Tesco hopes that the 38% of pet owners who stated that they felt they could not afford veterinary treatment for their pet will consider Tesco’s new discounts in pet insurance. The company is offering a 20% discount for purchasing pet insurance online, and 10% off for purchasing pet insurance over the phone.