This Week's Show
Wed 21st May 2008
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In the news this week
Massive RAC car breakdown loophole, 1p flights and grab the top savings account
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Celeb Wallet: Dermot Murnaghan
Will the ace newsreader make headlines or be yesterday’s news when he takes Martin’s wallet challenge?
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Cut Your Debt Now
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Celeb Wallet
Christopher Biggins
Wed 5th March 2008
The actor, who was crowned 'King of the Jungle' during last year’s hit series I’m a Celebrity… Get Me Out Of Here!, has also appeared in comedy dramas Porridge and Some Mothers Do ‘Ave ‘Em.
He admitted he’s not good with money, but while Martin found some areas where he could save some cash, he is not as bad as he first thought.
For one, he has multiple bank accounts, known as piggybanking, where he puts aside the cash he needs to pay certain bills or his tax to ensure he doesn’t spend those sums.
One area where he could save money is on his credit card. He currently spends around £2,000 a month on a card that doesn’t give him any cashback. If he switched to an Egg Money card he could pocket £200 as he’ll get back 1% of everything he spends, up to a maximum of £200 a year.
Christopher could also save on what he spends abroad. He recently put £4,500 on his credit card while on a round-the-world tour but was charged a 2.75% commission fee of £120. With a Travelex Cash Passport, a chargecard you fill up with foreign currency before your go abroad, you avoid being charged that commission.
He could also save another £430 a year by putting the first £6,600 of his savings in a tax-free cash ISA, preferably the Barclays Tax Haven ISA which pays 6.5%.
He’d have to put away the maximum £3,000 permitted before the end of the current tax year, on April 5, and another £3,600 after that as the allowances are to rise from then. In total, Christopher could save an extra £750 a year just from a quick five-minute wallet workout.
Take a peek at what was in Katie Hopkin's wallet last week.
