Nice to see my ideas are being used by you guys.....100p.m.savings, rings a bell :) But be careful that the savings quoted include exit fees from the old lender and the arr.fees and costs for the new lenders. I am inclined to advise clients if they need to change, is to use lenders with low SVR's and no penalties, until new funds are available again. Also watch the card 0% transfers that take the payments off the balance transfers first before the new purchases, not as attractive when you do the sums.

The Prime Minister has met with the bosses of the country’s largest banks to discuss ways of relieving the ever-tightening credit squeeze, but consumers are unlikely to see borrowing rates come down for a while yet. In the meantime, they face further increases in household bills: oil costs have hit new highs, with the price reaching $115 a barrel. Food prices also continue to escalate.

With the credit crunch and inflation continuing to bite, Clare Francis shows you 10 steps you can take to minimise the impact and relieve some of the pressure on your finances...

Click here to read this article.

What are your tips to survive the credit crunch? How is it affecting you? Click reply to have your say and share your experiences.