Financial Schools Reviews

It’s Friday again, and that means it’s time for the weekly SpendOnLife grab bag! Here we share some of the week’s more interesting tidbits from the world of credit, personal finance, and identity theft. Enjoy!

People want dollar to be worth a penny

It happens to the best of us: you’re tired, in the mall or grocery store parking lot, and someone comes up to ask you to sign a petition.

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Credit card fraud and using other payment mechanisms in Australia increased by approximately 30 per cent for the year ending June, in large part due to the increase of fraudulent credit card use on the internet.

According the new data from The Australian Payments Clearing Association (APCA), cheque, credit and debit card fraud has increased from 7 cents for every $1000 worth of transactions to 9 cents for every thousand transactions, representing an increase of nearly 30 per cent.

The largest increase in fraud occurred in transactions where the credit card was not physically present which is over the internet.

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Charities have offered guidance on budgeting and savings accounts. Full Article…

We came across a new product from MasterCard, called Mango Money, and were curious as to what it was all about. Here’s a summary (and the catch).

Underneath the Mango Money tree

MasterCard’s Mango Money card service allows users to deposit money into a prepaid account. Unlike credit or debit cards, there are no hidden fees associated with making Mango Money transactions or deposits (all fees associated with the card are clearly listed here). Mango Money users can sign up for a Mango Money card, deposit money into a Mango Money account, and use the card to make either debit or credit purchases. A

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Entertainment expenses can be offset by reward credit cards. Reward credit cards can offer a way for families to mitigate costs associated with school holidays, it has been suggested.

Egg, an internet bank and credit card provider, said that families typically pay £538 each on entertaining children during the Christmas break.

Six in 10 parents polled by the firm said that their school holiday activities include meals out, while 52% go to the cinema and 42% buy DVDs.

The Egg research also showed that 77% of parents believe they “spend more than they can afford” on their children during the festive season.

Vanessa Wood, a spokeswoman for the bank, said: “Christmas is the most expensive time of the year for a lot of families but being smart about how you spend money can really help spread the cost of Christmas.”

Credit cards which can assist festive finances include the American Express Platinum.

This product offers 5% cashback on purchases made by new customers over the first three months of use.

Egg’s own MoneyWorld MasterCard can also provide direct discounts on holiday activities including family days out and cinema tickets. Full Article…