Your Shout: Moneywise readers have their say in September 2017

12 October 2017

Each month we publish the best comments, emails and letters from our readers. Here are the best of September 2017:

This month’s star letter: ‘I switched and saved over £700 on my car insurance’

I managed to save more than £700 on my car insurance this year by a process of searches. My car insurance renewal came in at over £1,000 and I was limited by the fact my car is a grey import [cars bought from outside the EU, according to The AA]. The policy was issued through a motoring organisation, so I tried going direct to the company, which brought it down to £600.

Then I turned to the comparison sites. I ruled out MoneySuperMarket as I detest its adverts and I didn’t want to encourage it. The nice little meerkats [CompareTheMarket] didn’t want to quote, so I tried GoCompare – I don’t mind his [the opera singer in the adverts] singing ;-). That returned a premium of just under £400. Then Winston Wolfe [the character in the Direct Line adverts] came on the TV screen, so I gave him a try. Tweaked the quote a tad to give better cover, such as low excess and better courtesy car, and I got it for just over £300! Not bad for a senior citizen with a 4x4.


Moneywise says: It’s great to hear of your successful saving. Motorists should always use a price comparison website to search for the best insurance deal before auto-renewing. Once you’ve found the cheapest quote, then check the insurers that price comparison sites don’t include, such as Direct Line.

‘Who knew a slow cooker was money saving?’

I found the piece about saving money on energy by cutting use fascinating. Finally, a magazine understands that there is more to saving than changing supplier. As a renter, I am unable to switch suppliers. People telling me to switch, is not only impractical but it’s really annoying to know there is potential to save money on these expensive bills which I just can’t tap into.

I felt the tips in the issue provided valuable information, such as that using a slow cooker could save power and money – who would have thought a longer cook time was a money saver? I will also start filling my kettle to the optimum level. These tips are not only good for my bank balance, but I’m also doing my bit to save the planet.

Moneywise says: Under consumer protection law, tenants who are directly responsible for paying gas and electricity bills have the right to choose their own energy supplier. However, where you’ve signed up to a deal in which the landlord is directly responsible for paying the bills, it’s useful to know that energy efficiency measures can also help you to save money.


‘Stamp collecting has not been a good investment’

I have collected British stamps since 1952, and their face value, according to the Stanley Gibbons catalogue, is more than £14,000.

I am now 85, and my grandchildren are just not interested in the collection. I’ve tried to sell it, but most auction houses estimate the value at between 50% and 60% of its face value.

I began my collection after reading an article by the General Post Office, which reckoned stamp collecting would be a good investment. How wrong it was.


Should investors stick with Neil Woodford?

Moneywise says: Neil Woodford has apologised for the recent poor performance of his Equity Income fund. But investors have mixed views over whether to stay invested.

By a mere apology on a piece of paper, things do not improve for ordinary people like myself. So how does Mr Neil Woodford intend to help us? It is our hard-earned money and now it is gone, and he still wants more of our funds to be destroyed by promising at least 10%. It is a big risk to take at our expense!


Neil Woodford has been an excellent performing manager for many years and I have always invested in him. However, fund managers do not always get it right and I am afraid Neil is no exception. Funds managers go in and out of favour based on how they are performing. However, let us hope our faith in Neil comes good!


Write to us

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