Those looking for fast finance are using their wedding rings to raise money and given the expected rise in the divorce rate in 2010, not too many tears will be shed.

Recessionary times always bring out ways of quickly raising finance and for many couples unhitching from the marital yoke, getting a firm to buy the gold, rather than just pawning it, appears to be growing in popularity. The recent difficulties in the economy have led to this trend, with postgoldforcash.com having bought over 10,000 engagement and wedding rings since 2009.

It’s not, however, purely financial reasons that are driving people to sell their precious wedding rings. Many find their wedding rings are no longer that precious after divorcing from their partners; divorce-online.co.uk has predicted that the number of divorces will increase in 2010 due to the economic recession. In the first quarter of 2010 alone, there was a 6% increase in the breakdown and eventual separation of married couples compared to the same time period in 2009.

For England and Wales, the totals are usually on the high side. In 2008 the divorce rate was over 11.2 people divorcing for every 1000 that married. This was relatively low by the standards of England and Wales, but globally this is the one of the highest divorce rates seen.

Arguments over mortgage payments, unemployment, savings, what to spend and what to save, are just some of the areas in which couples may be finding strong disagreement in any marriage. Combined with the current economic situation, and these problems are magnified to the point where they have appeared to be dissolving marriages at staggering rates.

The notion of selling one’s wedding ring for some cash is not quite so surprising a notion when – as the case appears to be now – it is combined with divorce. But both notions are apparently driven by our gloomy economic climate, although ‘divorce’ has yet to appear on any prescribed money saving tips list.

With personal finance looking down, selling a wedding ring appears to be one way of overcoming two problems at once. Those wanting to make some extra money this way can find a number of ‘gold for cash’ websites and services, varying in reputation and price.

Guest Article by Neil Camp

Gongs handed out by the 2010 Moneywise Customer Service Awards included two for M&S Money which was named not only the ‘most trusted motor insurance provider’, but also the ‘best travel insurance provider for service.’

The awards for most trusted motor insurance provider and the best travel insurance provider for service were handed out in front of nearly 300 guests at a gala dinner held in the City of London.

And the awards for most trusted motor insurance provider and the best travel insurance provider for service come from, claim the organisers, the biggest customer service survey of its type held in the UK. The figures were compiled by the Moneywise magazine and their website, Moneywise.co.uk following around 10,000 responses. These were then given to CoreData research for analysis who were used to identify those companies which, according the UK public, offer not only the best service, but also those who are the most trusted.

Apart from the main awards, M&S also walked off with two highly commended, one in the ‘most trusted travel insurance provider’ and the other, ‘best motor insurance provider for service’ categories.

On opening the gold envelopes and barely holding back the tears, a triumphant M&S Money Chief Executive said about the awards, including most trusted motor insurance provider:
“All our insurance policies are designed with the M&S customer in mind, and we are delighted that M&S Car and Travel Insurance have been recognised at the Moneywise awards.”

It also gave M&S a chance to remind people about their polices, including their role as most trusted motor insurance provider. They pointed out that their M&S Premier Car Insurance protects not just their car, but the policy holder. What’s more, it also includes RAC breakdown cover, a hire car for up to 14 days and motor legal protection.

So, when it comes to looking for the most trusted motor insurance provider, and indeed, the best travel insurance provider for service, then have a look at M&S. It’s not only good underwear they sell, but also good insurance apparently.

Guest Article by Neil Camp

The Post Office says that a failure to purchase insurance has put at risk losing belongings worth a total of £12 billion.

This situation exists despite the fact that the average suitcase contains valuables worth £1,133 and a recent statistic proves that over 10% of people have experienced baggage delays in the last three years.

So the Post Office is bemused why over 20% of travellers do not take out any insurance for their holidays. So Post Office Travel Insurance has teamed up with LA stylist Neil Rodgers to give tips to those 30 million people who are worried their bags won’t arrive at their destination when they do.

The Post Office don’t elaborate why an LA stylist is an expert on baggage loss, or travel tips, but Mr Rodgers recommends ‘emergency’ items to be kept in your hand luggage should include three pairs of underwear and toothpaste. This ensures you have the essentials if luggage is delayed, or lost.

This doesn’t quite tally with a money-saving expert who recently recommended that the best way to beat the budget airlines at their own game was to forget check-in luggage and literally ‘wear’ everything you needed for a holiday. Quite what the cabin crew would make of a person wearing all their underwear, trousers and tops, plus coats, plus pockets bulging with their cosmetics, remains to be seen, but it does raise issues about passenger safety. Not only might that person suffer in a stuffy cabin, but in an emergency, trying to evacuate an aircraft packed full of Michelin-men sized passengers, doesn’t bear thinking about.

But Mr Rodgers is not shy when it comes to the matter of travel insurance, thankfully for the Post Office, who trill that:
“He says that making sure consumers have proper travel insurance is essential as many travel insurance policies will compensate for goods that go astray. He reminds that it may be necessary to purchase extra travel insurance cover if packing something particularly expensive and that most travel insurance providers will not replace old items for new.”

So there you are then. Thank goodness the travelling public have an LA stylist who’s only too happy to share his travel insurance tips.

And head of Post Office Travel Insurance, Rachael Croft, adds he advices as well:
“…if found on a holiday with nothing to wear, keep all the receipts of items bought. Post Office Travel Insurance will pay out up to £250 if your belongings are lost for more than 12 hours on the outward journey. The Post Office also provides travel insurance cover to the value of £1,500, for holiday belongings.”

So take note, heed the words of LA stylist Neil Rodgers and pack those three pairs of underpants in your hand luggage.

Guest Article by Neil Camp

Research from the Post Office reveals that UK holiday makers are particularly savvy when it comes to getting the most for their holiday money. It also suggests that Bulgaria it a top choice for cost-conscious tourists and that despite using the stronger euro, Spain is still a popular destination

The findings, which are part of the Post Office’s Holiday Cost Barometer, show that almost half of UK tourists are looking for ways to reduce their holiday costs and get more for their travel money. And the measures they take include eating out less, buying fewer drinks, visiting fewer attractions and doing less sightseeing.

What’s more, the performance of the pound against other world currencies is likely to have a big impact upon future holiday planning. The euro remains volatile on a daily basis, which means that non-eurozone countries are attracting attention because the pound goes further. The Post Office cite the example of Bulgaria, where an average bottle of lager costs only 98 pence and a meal out can be still bought for a reasonable amount of money.

One country holding up well within the eurozone is Spain, which was highlighted by the Post Office as still being able to offer the tourist value for money. Spain came second in the annual foreign currency holiday costs survey. The Post Office research showed that a basket of ten essential holiday items, including sun cream, drinks and meals out, set tourists back just £53.51 of their travel money.

But many of the other countries within the eurozone, including France, Italy and Portugal, were suffering because of the fluctuating euro which not only had impacted upon holidays for the season just passed, but were also effecting future holiday planning for the next season.

A Post Office spokesperson Said:
“Our research revealed that some UK tourists are thinking more carefully about buying foreign currency in advance when rates are better – but the amount lost by leaving it late still adds up to a tremendous waste of hard-earned money. Families who want to stick to a budget should consider putting their cash on a prepaid card, so that they can track their expenditure.”

Guest Article by Neil Camp

The recession has claimed another victim with passengers spending less money in the departure lounge than before.

Research from Santander Cards reveals that the amount that UK holidaymakers spent in airport departure lounges in the last 12 months has fallen to £378 million, down from £1 billion in September 2007.The same research also showed that holidaymakers are holding onto more currency when they return, leaving it for the next break.

For those regular travellers, it is simply more economical, given the weak pound, for travellers to keep hold of their money for their next trip, avoiding a poor exchange rate and expensive handling costs.

The research goes on to reveal that whilst the number of people who indulge in last minute spending at the airport is mostly unchanged at 35%, compared to 36% in September 2007, the average amount frittered away at the airport has dropped from £65 to £24 per spender.

And age makes a difference as well, with people aged 18 to 34 more likely to spend leftover foreign currency in the airport, with 81% of those holidaying abroad admitting to currency dumping, compared to 68% of those over 55.

Callum Gibson, Director at Santander Cards, says: “With holidaymakers trying to make their money go further this year, it’s not surprising that non-essential spending at the airport has fallen dramatically in the last 12 months. Britons are resisting the lure of departure lounge shops and either sticking to their holiday budget or holding onto any leftover foreign currency for their next trip.”

And different product types were also being effected in different ways. The airport staple of perfumes, make-up and grooming products have been worse hit, with the number of returning holidaymakers buying perfume or aftershave at the airport falling from 31% to 20%.

But certain areas did better, with food and drink leading the way with a significant rise from 58% to 70%. Books also did well, rising from 13% to 17%; toiletries also showed an increase, from 8% to 11%; and, clothes also notched up a slight gain from 4% to 5%.

Which perhaps shows that passengers are limiting themselves to the necessities in life and steering clear of the luxury items.

Guest Article by Neil Camp