In these financially trying times, many people are looking to save every single penny that they can. But one of the worst offenders when it comes to draining our wallets is petrol. It’s a necessity for so many people, and yet with prices always increasing it’s becoming a luxury that many will no longer be able to afford.

Many households have been driven to despair when it comes to keeping the needle out of the red on their vehicle. Statistics have shown that as much as 43% of motorists have already reduced the amount they use their cars and a further 18% are attempting to drive more efficiently. And with the average price of one litre of unleaded petrol now costing around £1.36, you can see why.

And this is where TopCashback.co.uk come in, giving their members the chance to save up to 20% on their fuel bill. For every £10 that you spend at the pumps at service stations nationwide, you’ll get £2 cashback. All you have to do is take a picture. Read More »

A round-up of the main news stories this week. [Transcript provided below]

Recession Less Severe than Expected

A revision to UK growth figures suggests that the recession is not as bad as first feared. The Office of National Statistics has revised its estimate of second quarter contraction to 0.4%, after initially stating that the economy had shrunk by 0.7% from the first quarter. The revision owes largely to more optimistic figures from the construction sector, which has been the main downwards drag on the economy.

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Young Generation Saving More Despite Recession

Consumers are managing to save more despite the on-going economic difficulties. Figures from the state-run National Savings & Investments show that consumers saved an average of £90 per month into a savings account during the last quarter. Surprisingly, the younger generation are managing to save more, with 25-34 year olds saving well above the average.

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Santander 123 Credit Card Now Includes 3% Cashback on Rail Travel

Santander has added a new feature to its 123 credit card to include 3% cashback on train fares. The cashback offer applies to National Rail and Transport for London, and includes London bus and tube travel. The card currently offers 1% cashback on supermarket shopping, 2% at department stores, and 3% on petrol. The move is likely to be welcomed by rail commuters, especially with fares set to rise by at least 6% in the New Year.

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Banks Forced to Switch Current Accounts in 7 Days

New regulations will force banks to switch customers’ current accounts within seven days. The new rules, which come into effect from September 2013, are designed to make the switching process much easier for consumers and boost competition in the market for current accounts. Around 9% of those who transferred last year found the process error-ridden or overcomplicated. Both the government and regulators are keen that people should be able to swap their bank accounts conveniently.

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For all the latest news and product updates, remember to check out Which4U.co.uk.

According to new research from Debenhams, over a million Brits hold a secret credit card to indulge in their spending without families and partners finding out.

The poll of 2,000 people revealed that over half of UK adults are dishonest about their shopping habits, either about what they’ve bought, or how much they’ve spent. Men are splashing out on gadgets and alcohol, while women are spending on clothing and shoes.

3% owned up to carrying a secret credit card to hide their spending. This would amount to roughly 1.2 million British adults. And given that 18% of those polled reported feeling “ashamed” of splashing out, we might expect that figure to be higher in reality.

In a way, it is unfortunate that a national governance of ‘austerity’ is dominating the psyche so powerfully. As the economy slumps further into double-dip recession, many have come to feel ashamed of spending at a time when all economic activity is desperately needed.

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Supermarket chains are waging price wars by offering eye-catching discounts on petrol for customers who spend in their stores.

Following Asda’s petrol price cuts in November and Tesco’s fuel offer last month, supermarket chain Morrisons has raised the bar by offering a record 15p per litre discount off petrol for customers spending £60 in store.

Supermarkets clashed over the issue last year. In April 2011, Morrisons’ Fuel Britannia scheme offered 6p off a litre of petrol for customers spending over £40 in store. This was branded no more than a ‘gimmick’ by a disgruntled Asda, upset that its below-average fuel price longevity was being supplanted by a rival’s deal that required high levels of in-store spending.

But campaigners have little care about favouritism, it would appear. Having voiced their concerns at the soaring cost of fuel, they are preparing to take a stand early next month to demand lower fuel duty ahead of the budget. Oil prices forced the price of diesel to a record high last week, while unleaded petrol currently sits within reach of the record high reached in 2011.

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As of September 5th, you can now earn up to £300 cash back by switching your current account to Santander.

In a recent move, Santander have tripled the amount of cash back available to customers taking out their ‘Preferred Current Account‘, making the gap between it and it’s competitors even greater.

With very few accounts offering a money back scheme, this sets Santander apart from the rest of the market and gives potential customers a very big incentive to reel them in.

However, this fantastic offer is not available to everybody as there are certain limitations to applying for this cash back amount. With Santander’s preferred current account there are 3 levels of cash back that are available. Read More »