Watching the pennies

Smart ways to save £££s and be a savvy consumer

SWITCH AND SAVE ON CREDIT

New figures show that credit card debt is increasing among the over-55s. Recent research by a financial company revealed more than half of over-55s who are in debt have borrowed on credit cards. Worryingly, nearly a third say they have borrowed to cover day-to-day expenses. People aged over

55 are more likely to borrow using credit cards than personal loans, overdrafts or car finance. Be aware that if you make the minimum payments on your credit card, it could take you around 18 years to pay off £1,000 on a typical credit card. Switch to a 0% interest deal if you can’t clear your balance in a few months and swap it to another card when your 0% deal is due to expire.

Loyalty card of the fortnight

Morrisons supermarket’s loyalty scheme, called More, rewards you for spending with Morrisons. You get five points for every £1 you spend in store or online and five points for every litre of fuel you buy at a Morrisons petrol pump. Once you have 5,000 points, you’ll get a £5 More voucher, which you can spend in a Morrisons store or online.

What we like: The Morrisons More app lets you load your vouchers and spend them straight from your smartphone. What we don’t like: Each point is worth just 0.1p, and you don’t get any change when you pay for shopping with your £5 More voucher.

■ For more money-savings tips visit www.savvywoman.co.uk

STAY SAFE WHILE DRIVING

11 million drivers admitted to using their mobile phone while driving in the last year. Research shows people who use a phone while driving are three times more likely to be involved in an accident. Motorists convicted for a mobile phone-related offence pay an average fine of more than £150. You could also get up to six points on your licence, or even lose it altogether if you passed your test in the last two years. Car insurance premiums can rise, too.