Ways To Save Money On Fuel Costs

Filed Under  Consumer News, Financial News, Money Saving Tips, Personal Finance, UK Debt News  |  Leave a Comment

Fuel Prices Rise Again

With oil prices soaring above $130 a barrel and the price of petrol rising at an increasingly astronomical rate, it may seem like there is little respite for motorists with the government’s proposed fuel duty increase of 2p per litre still on the cards - many motorists are struggling to put fuel in their vehicles already, as well as pay their priority bills and unsecured debts - however, there are several ways to save money on fuel costs.

Get the Cheapest Fuel at the Pump

The first of the many ways to save money on fuel costs is the most obvious, and that is to ensure that you’re buying the cheapest fuel (petrol or diesel) from the filling-station in the first place - visit www.petrolprices.com to find the cheapest petrol where you live.

Driving Savings on Fuel

Secondly, your driving technique and general attitude to driving can have a significant bearing on the cost of your monthly fuel bill. Here are 10 ways to save money on fuel costs (the Energy Saving Trust suggest as much as £120 per year can be saved on the cost of fuel), helping you beat the fuel price increases whilst at the same time doing your bit to save the environment:

10 Ways to Save Money on Fuel Costs

1. Watch the Revs

Keep a watchful eye on your rev counter - change up a gear before you reach 2,500rpm for petrol powered cars and before 2,000rpm for diesel powered vehicles.

2. Quick, Slow, Quick Quick, Slow

Avoiding sudden bursts of acceleration and irratic heavy braking is not only one of the ways to save money on fuel costs, but it also reduces the likelihood of having a serious road traffic accident. The rule is to always look ahead and anticipate the road conditions, allowing you to drive smoothly, accelerate gradually and use the engine to slow down where appropriate.

3. How Cool Are You?

Especially during the summer months, it’s tempting to stay cool in your car by reaching for a switch and turning on the air conditioning. However, air conditioning uses a significant amount of fuel. Ask yourself, do I really need to turn the air conditioning unit on? Surely it’s more ‘cool’ to save money on fuel?

4. Go Slow!

Driving at the most efficient speeds can make an enormous difference to the amount of fuel that your vehicle will consume and it’s one of the easiest ways to save money on fuel costs. Depending on the make and model of car that you own, speeds between 45 - 55 mph are generally considered to be the most efficient for your vehicle’s fuel consumption. Of course, this shouldn’t mean that you drive more slowly when it’s not appropriate or safe (eg on motorways). Driving at speeds faster than 55 mph will increase you cars fuel consumption significantly.

5. Get Your Coat

Never turn the engine on and leave the car running to warm the car’s interior whilst you go back indoors to enjoy a cup of tea. Leaving your car to ‘idle’ in this way not only wastes valuable fuel, but also causes rapid wear and tear to your vehicle’s engine. Wear more clothes - drink less tea!

6. Rocket Science

Assuming that you understand the basic physics behind the design and shape of a space rocket, then you’ll understand that causing unnecessary drag on a moving object will require a greater force for it to move in a particular direction, and consequently, more fuel - this is the reason why we don’t see space rockets fitted with bike-racks, roof-racks or roof-boxes. Therefore, if you’re not using such accessories, remove them from your vehicle to reduce weight and drag, increase fuel efficiency and save you money.

7. Get Some Exercise!

When your car’s engine is cold, it burns up to twice the amount of fuel as a warm engine does. Consequently, if you take the easy option for short journeys by jumping straight into your car, rather than walking, cycling or using public transport, you will not only damage your bank account further by using unnecessary fuel, but you will miss a simple opportunity to contribute to reducing your carbon footprint on the environment, as well as getting a little exercise!

8. Use the Local Media

Always plan your journeys before setting off. Check your local newspapers, local radio stations or use the Internet to find out about any serious congestion, road works or road traffic accidents. At the risk of stating the obvious, carrying a map with you in your car at all times will prevent you from the extra miles that are covered in the unlikely event that you should get lost - and, if you’re lucky enough to have one, don’t rely completely on your satellite navigation system to get you to where you want to be via the most appropriate route either.

9. Inflation

Reduced tyre pressure can cause your fuel consumption to increase by as much as an estimated 5%. Again, this is one of the simplest ways to save money on fuel costs - check your tyres weekly and keep them inflated to the manufacturer’s specifications.

10. Still Not Moving?

At traffic jams, road-works and any occasion when you and your vehicle are stationary for longer than 2-3 minutes, save fuel by simply turning the engine off at the ignition.

Free Budgeting and Debt Advice

If you’re struggling with the recent petrol price increases and you’re unable to pay your monthly bills as a result, Payplan can offer free debt advice by phone on 0800 917 7823 or online using their quick contact form for immediate money advice

Debts Hit Middle Classes

Filed Under  Consumer News, Debt Question of the Week?, Financial News, Grantham, IVA News, Payplan Media Release, Payplan Press Release, Personal Finance, Press Releases, Scams and Fraud Warnings, UK Debt News, Website Updates  |  Leave a Comment

Debt Crisis Hits Middle Classes

Free debt solutions service, Payplan, has responded to this weekend’s national press coverage focusing on the increase in enquiries for debt advice from the middle classes.

Debt advisers at the service have been speaking to many families and individuals with high incomes, but whose debt has reached breaking point.

Debt Affordability Decreases

Payplan’s managing director, John Fairhurst, said:

“Our clients are really feeling the pain of the rising costs. Householders’ budgets are being squeezed as the cost of food, fuel and energy bills reaches ever higher levels. A direct result of this is that the affordability of their debt burden is at an all time low.”

Free Debt Advice

Call Payplan free on 0800 917 7823 six days a week to speak with an experienced debt adviser. Lines are open 8am to 9pm Monday to Friday and 9am to 3pm on Saturdays. Alternatively get debt advice online

Facebook Payday Loan Ads Investigation

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Advertisements for Payday Loans On Facebook Under Investigation

Following complaints from debt charity Credit Action, Facebook are investigating the legality of payday loans advertising placed on its website. Several payday loan and logbook loan companies are being investigated by Facebook, according to Credit Today.

Payplan recently had concerns about payday loans and logbook loans, and it appears that some companies are willing to ignore loan marketing legislation by omitting important information such as the APR percentage rate of their payday loans.

In an interview with BBC’s Radio 2, Payplan’s John Fairhurst said about payday loans that “Often the sums are quite small, just a few hundred pounds, but the interest rates charged are enormous. A thousand per cent APR is not uncommon.”

Young Facebook Users In Debt

Omitting this sort of information could mean that people who are desperate to pay their monthly bills use payday loans or logbook loans as an olive branch, unaware of the full terms and conditions relating to the cost of paying back the money. Young people especially, many of whom use Facebook as a form of social networking, may take up offers of payday loans and logbook loans and be susceptible to high levels of interest repayments of which they may not have been aware when the loan was first taken out.

Free Debt Advice from Payplan

Payplan advise 100,000 clients each year who have debt problems. If you feel that there is no solution to you debt problem, no matter how big or small, Payplan will be able to assess your finances and offer budgeting and money advice and present you with free debt solution options to help solve your debt problem.

Call Payplan free on 0800 917 7823 or submit you debt situation online using Payplan’s Debt Calculator

Mortgage Is Top Concern For Callers To Debt Helpline

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Mortgage Possession Figures - 17% Rise In First Quarter 2008

27,530 mortgage possession orders made - 17% higher than the first quarter in 2007

Today’s jump in the number of mortgage possession orders issued since the beginning of the year has come as little surprise to debt solutions service, Payplan, which has been receiving record numbers of calls from people concerned they might lose their homes.

A survey of new callers to Payplan’s helpline showed that over half had seen an increase in their mortgage payment. Of these people, 35 per cent say that concerns about their mortgage had prompted their call for help.

Payplan’s managing director, John Fairhurst, said:

“Today’s figures reflect what we already know from talking to our clients. Many simply don’t have enough cash to cover their outgoings.

Of particular concern are people with poor credit histories who are coming to the end of fixed rate deals. With no access to a new deal they have no alternative but to pay their existing lender’s standard rate which often adds hundreds of pounds a month to already overstretched budgets. Not surprisingly this can, and often does, lead to financial meltdown. Unless lenders can offer this group of borrowers some sort of financial cushion we can only see possession figures rising further.”

Notes to editors

The figures showing the latest national statistics on mortgage and landlord possessions, are released by the Ministry of Justice on a quarterly basis. The quarterly releases presents statistics on possession actions issued in county courts by mortgage lenders and social and private landlords in England and Wales. The figures represent court actions for possession and not actual homes repossessed.

About Payplan - Payplan provides free, ethical and immediate debt help to over 100,000 people every year, working closely with organisations in the field of money advice and consumer and employee welfare.

Call Payplan free on 0800 917 7819 six days a week to speak with an experienced debt adviser. Lines are open 8am to 9pm Monday to Friday and 9am to 3pm on Saturdays. Or submit your details online using the Payplan Debt Calculator.

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