The teams have been announced, the players are making their way to South Africa and the excitement is building. Many of us will be submitting our dream teams in preparation for the tournament and moneysupermarket.com is no different.
We have created our own dream team of financial products that together will make sure you make some winning savings.
Check out our 4-4-2 formation of the financial products that have made the cut in our World Cup squad.
The player that holds off any shots on goal, unexpected or not. This is the integral player of the team that could make or break a World Cup dream.
Life insurance
This acts in the same way, a safety net for your family and a must if you have any dependents. The amount of cover you need will depend on factors such as the size of your mortgage, the age of your children and whether your spouse or partner has an income. An independent adviser will be able to help you work out a suitable level of cover if you are unsure.
Our back line defence is designed to offer security and protection.
Car insurance
If you have a car, this is a legal requirement but prices vary hugely so it’s well worth shopping around for the best deal every year.
Independent research found that 97% of drivers could save money on their car insurance through moneysupermarket.com. The average saving is £224, so when your insurance is next up for renewal make sure you compare prices and don’t just accept the renewal quote from your existing provider.
Home insurance
Don’t get caught offside, by using our home insurance comparison tool can save you up to £132 per year and you can compare policies offered by 69 insurance providers.
Travel insurance
Recent events such as the volcanic ash cloud and BA strikes have reaffirmed what an essential role travel insurance plays in your financial dream team.
It’s not just unusual events that need to be taken into consideration, medical bills can be astronomic if you are ever taken ill whilst away, and have you ever thought about how much the contents of your suitcase is worth once it has been filled with all of your holiday essentials?
Our recommended minimum level of cover is as follows:
Medical expenses – £2million
Personal liability – £1million
Cancellation – £3,000 or at least to cover the cost of your holiday after any excess fees.
Baggage – £1,500
Cash – £250 however check the excess charge to make sure that any claims for cash will be worth making a claim.
Other factors to consider are your excesses, which should be under £100, while recent events have also highlighted the need for your policy to cover you for events such as scheduled airline failure and also delay and travel abandonment.
The great thing about travel insurance is that it needn’t cost a fortune. A family of four can pick up an annual multi-trip policy that matches our recommended level of cover with Debenhams for as little as £52. This covers you for worldwide travel including trips to the USA and Canada. Debenhams also offers the same policy with winter sports for £65.
For couples, Ignite Insurance will insure you for a year for £38. Again, for those who love their winter sports, Ignite offers the same annual multi-trip cover with winter sports added for £42.
If you have savings, consider locking some of your money away in a fixed rate bond. You’ve then got the security of knowing what return you’ll be earning on your hard-earned cash.
This is the leading three-year account and it pays 4.25% on balances of £1,000 or more – a higher return than you’ll get on an easy access savings account. However, bear in mind that you won’t be able to make a withdrawal during the fixed term, so only lock away money you won’t need to access during that time.
The midfield of the team is the hardest working, attacking when needed to help the players up front or by tracking back to bolster up the defence. Wherever they are in the field of play, they are working non stop to make sure the team is always moving forward.
Our midfield maestros are made up of four products:
Halifax Reward Account
Your current account is your core banking product and therefore the obvious skipper of the team. But don’t think all current accounts are the same. Most of us are earning virtually nothing on the money we hold in our current account, or are paying more than we need for an overdraft.
But there are some great deals out there so get switching and find the best leader for your squad.
If you don’t use an overdraft, the Halifax Reward account is ideal. As long as you pay £1,000 or more into your account each month you’ll receive a £5 monthly ‘reward’ – that’s £60 a year every year. Unlike many current account offers, this is not just a 12-month deal.
However, the Halifax Reward account is not the best option if you’re regularly overdrawn as you’ll be charged £1 for each day you’re in the red.
Instead, the Alliance & Leicester Premier Account would be a better captain for your team. You benefit from a free overdraft (up to £2,000) for the first year and will be charged 50p per day thereafter, but unlike the Halifax account this is capped at £5 per month making it a much cheaper option if you need an overdraft. What’s more, A&L is also offering a cashback incentive for new customers. You’ll receive £100 if you switch to this account and pay in at least £500 a month.
First Direct lifetime tracker
A great mortgage deal is also an essential part of a winning financial team. If you’re happy to go for a variable rate deal, First Direct’s lifetime tracker at 2.39% is certainly a strong player. It’s the lowest rate on the market at the moment and the arrangement fee is lower than average at £499. What’s more, there is no early repayment charge so you can remortgage at any time without penalty.
However, not everyone will qualify as you must have a deposit of at least 35%. Also, if interest rates rise, which they will at some point, your monthly repayments will go up. If this worries you, it’s worth paying a higher rate for a fixed rate mortgage.
An independent adviser will be able to help if you are unsure about which mortgage to go for.
It’s always important to have some money you can call on in an emergency. An easy access account, with its flexibility, is a key part of your midfield and A&L’s Online Saver Issue 7 is the current market-leader. A&L has just increased the rate on this account to 2.81%. You must pay in at least £1,000 when the account is opened but you can make additional deposits and withdrawals at any time, without penalty.
However, there is a sting in the tail – the rate includes a 12-month bonus of 2.31%. When that ends it will drop to the underlying variable rate, which is currently just 0.50%. So when the transfer window opens up after a year, it’ll probably be worth swapping this for another player.
This is a great solid performer. With a 12-month interest-free period on both balance transfers and purchases, this credit card is ideal for spending on as well as transferring a balance to. However, you’ll be charged a fee of 2.98% if you transfer a debt over from another card. Also, try to pay off what you owe within a year as the standard interest rate once the 0% offer ends is 18.9% for purchases and 21.9% on balance transfers.
The goal scorers, some would say the hopes of the team rest on the players that are in this position. They are the players that work hard to get you the most returns possible and the two products that have been selected in our dream team are no exception to this rule.
If you pay your credit card bill off in full each month, this is the perfect card for you and you’re guaranteed to score every time you spend on it.
You’ll receive 5% cashback for the first three months, up to a maximum spend of £2,000. You then earn 0.5% on the next £3,500 spent on the card, 1.0% on spending between £3,501 and £7,000 and 1.25% on any spending above that.
Be careful, though, because you’ll score an own goal if you don’t clear your balance each month. The standard rate of interest on this card is 19.9%, so the interest you’ll be charged will far outweigh the value of the cashback you earn.
And finally, the squad member everyone needs – a cash ISA. You can invest up to £5,100 in a cash ISA before 5 April next year and interest is tax free, which is why this is such a valuable member of your team.
This particular account is a star player. The rate is 2.70%, which isn’t quite the highest easy access cash ISA rate, and this includes a 1.00% bonus. However, the bonus period is longer than that on most other accounts – 15 months as opposed to the usual 12.
Another key strength is the fact it accepts transfers in, so if you have money sat in other cash ISAs from previous tax years that is no longer earning a decent return, you can move it into this account without losing the tax break.
Every team needs some players in reserve in case the unexpected happens or they need a fresh pair of legs to play in extra time. We have the following on our subs’ bench:
Sainsbury’s Personal Loan
If you need a loan, this is a great deal. The rate is the joint lowest on the market at 7.8% for loans of £7,500 to £15,000.
You need to have a Nectar Card to qualify for this rate but they’re easy to get hold of – you can apply online or get a form from your local Sainsbury’s.
If you take out this loan, you’ll benefit from double Nectar Card points for two years by being a loan customer, meaning double points on all of your World Cup party purchases.
Energy
No team is complete without a burst of energy and your home is no different. The average standard energy tariff currently sits at £1,169 per year, but online tariffs are the ones that currently score best and by switching to the current best deal (at the moment that’s npower’s Sign Online 18 with an average price of £876), you can make a potentially massive saving of £293. Use our energy comparison tool to see how much you could save.
Whether it’s half-time snacks, full time celebratory beers or maybe you need a brand new television ready for the month long football feast, our vouchers channel features hundreds of deals that could save you money.
Current deals include a 2-4-1 on main courses at Café Uno until 30 June, £10 cash for every goal England score during the tournament from Currys when you buy any TV over £599 and for you World Cup widows, why not head to All-Bar-One and make like the Sex and the City girls with a cocktail and cupcake for just £5 until 22 June.
Heading to South Africa for the tournament? Once you leave the country, your standard charges for minutes and texts will be left at the airport. Roaming can be costly so check with your provider before you leave to see what your call charges will be.
Vodafone customers will benefit from the Passport package that you can add to your current deal or use as a pay as you go customer. Normally limited to Europe and selected other countries, Vodafone has made the decision to move the goal posts to now include South Africa, meaning you will only be charged a 75p connection fee then the standard UK rate per minute thereafter for both outgoing and incoming calls.
Want to text your mates at half time? This will cost you just 11p. You may also want to make your friends and family jealous with a quick Facebook update, however, bear in mind that from 15 June this will cost you £3 per MB up to 5MB then £15 for every MB after that with Vodafone.
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