Money Nut

Almost two thirds of Brits end up runnin gout of cash before their next pay day - a bit of an alrming figure, when you think of it. The disposable income available to people now has dropped by 29% in the past two years - the reason why many people are struggling to remain within a budget.

It would also seem to prove useful for people who haven't made a budget for a while, to do one. If families are living their lives with a budget that doesn't apply anymore due to disposable income falling, then it would explain why so many people are struggling to last 'til payday. By re-doing a budget, to fit with current conditions, it may help people to stay afloat and not rely on overdrafts etc. until their next pay cheque gets cashed.

It's been claimed that forcing a sale in today's market, or inflicting repossession onto homeowners, doesn't achieve a thing. Instead, mortgage lenders have been recommended to offer more support to their borrowers, by offering reduced repayment plans instead, for example.

If this sort of method was implemented by banks, people who are struggling with debts would be ablt to increase their repayments as and when they can, or even sell their property to repay their lender - rather than being issued with a repossession notice etc.

New changes, which come into force on the 1 December, will mean that internet shoppers won't have to pay customs on anything bought for less than £105 from outside the EU. The change extends the duty-free limit from £18, which will benefit thousands of consumers who want to buy items such as DVD players from the USA, which have a 14% duty rate.

Import duties vary and don't apply to all goods, but are charged on items such as:

• CD players - 9.5%
• DVD players - 14%
• Silver & Gold Jewellert - 2.5%
• Imitation Silver & Gold Jewellery - 4%

Mobile phones and books are already free from import duty charges.

This time it's on the front cover of this month's Glamour mag and it's a full sized 10ml bottle of Nails Inc nail varnish, worth £10.50. The mag is £2 and there are four colours to choose from:

• South Molton Street
• Tate
• Picadilly Circus and
• Victoria

That means nothing to me, but they are various shades of pink and red. It also includes the usual box - an ideal present for crimbo.

Have you ever lied about what secured loans, personal loans, credit cards and debt you have? Apparently, a lot of Brits are getting into the habit of telling a few porkies about their debts, espcially to their partner, friends and family members.

According to a study by Axa, 44% of people aged 25-44 have lied about money. Overall, one in 3 people have lied to their significant other or a relative and the situation is likely to get worse as the crunch continues.

People may be tempted to keep schtum about just how much debt they have, but is it really the sensible thing to do? With bankruptcy levels increasing by 12% over the last few months, and news of 275 people declaring themselves bankrupt or insolvent every day, I would have thought that burying your head in the sand and not telling people the truth about your situation could only make things worse?

The price of the average UK home has fallen by 15% in the last 12 months - equating to £30,000 per home in the UK.

This was announced before the Bank of England announced their massive 1.5% interest rate cut. Just when the cut will be reflected in the property and mortgage markets is yet to be seen.

One of the main reasons for the fall in house prices is the lack of affordable finance for first time buyers - some of the most important customers for the market. If mortgage rates are reduced along with the base rate, it could have a positive impact on the market. House prices are still falling, so the sooner the mortgage market can be rebooted, the better.

Don't get too excited though - it isn't predicted to happen until next year. As of next year, people will begin to feel a bit better off than they have been recently, as oil and food prices become cheaper.

However, the credit crunch is likely to continue, according to BestInvest, but inflation should ease as well.

Research by the Association of Investment Companies found that food and energy were seen as a bigger financial threat than recession, with 52% of the public believeing this and only 13% being concerned about the looming recession. They also found that 23% of those asked were saving more and spending less.

Over 5million people in the UK think they will be, one day.

Research has found that, despite the downturn in the economy, 15% of 18-24 year olds and 14% of 25 - 34 year olds believe they will earn over £1m in their lifetime.

Attitudes seem to change as soon as they reach 35 - the point where many of us own homes and have a family to support.

There was also a regional divide found - 19% of people in the South West thought they had the potential to be millionaires, whereas only 5% of Scots did.

According to banking firm Coutts, to live a millionaire's lifestyle, these people will have to earn around £3million. So, they will have to live out their hopes and aspirations - three times over.

Bonfire night is nearing, and, as with every year, pets are at risk. Pet owners have been urged to protect themselves and their pets, by investing in pet insurance.

In a recent poll of more than 2,000 people, only 26% had pet insurance for their pets, leaving 74% vulnerable to vet bills.

Bonfire night has for a while been a busy time of year for vets, who reported 682 incidents of animals treated for distress and injuries between October and November in 2004. Fireowrkd are believed to be the main cause of distress - up to 45% of dogs in the UK show signs of distress when the hear fireowrks, according to the RSPCA.

They seriously recommend the pet owners out there who don't have pet insurance to go out and get some. It can easily be done, especially on the Internet, and can save you a lot of hassle and worry if anything was to happen. The other advice would be to keep your pets indoors during the firework season.

Whoever this was must have had some nerve. Police in Milan are investigating a $1m (£628,420) robbery from a jewellery store in the heart of Milan.

Staff at Pederzani's thought nothing was wrong when a window cleaner arrived to clean some plate glass. Leaning his ladder against the window, the staff thought nothing was amiss, but instead of cleaning the glass, he unscrewed it, and stole $1m worth of jewels. Walking off into the bustling crowd, with the jewels in his bucket, he was gone, before anybody knew any different!