31/05/2014 Your Money


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What is essential is travel insurance. We will talk to travel


expert to see how you best plan your trip.


your weekly guide to making the most of your cash, here every weekend on


BBC News, available all week on the BBC iPlayer.


Destination ` Brazil. If you're off there for the World Cup, we've got


some tips on planning your journey and protecting your cash.


Luck of the draw. From this weekend, we can invest more in premium bonds,


if we want to. But what are the chances our number will come up in


the big draw? And pennies from heaven ` the Church


of England is to offer financial information to anyone who needs to


borrow money. The head of Britain's credit unions tells us why that


could be a big boost for them. If you're off to Brazil for the


World Cup, and here's hoping it won't be a short trip. You've


probably made most of your travel plans by now. But should you pack


some insurance? The Foreign Office thinks you should. Its travel advice


pages say all tourists should have comprehensive travel insurance. Lots


of other helpful tips on the Foreign Office website. UK passport holders


do not need a visa to go to Brazil. But your passport has to be valid


for six months, and you may be asked to show your return ticket before


Some other tips, tell your credit card company you are going before


you settle. You will need your passport to change money at the


bank, of course, and it warns that there is lots of cream, ridiculously


in big cities. `` crime. We have with as the travel expert from


Gocompare.com today. Let us talk about some of the travel issues. The


point the foreign office was making at the top of the website is how big


Brazil is. That is probably more important than we might think. Yes,


it is 65 times the size of England, which is pretty big. Venues England


are playing at our spread across the country. The recommendation is


people fly between the venues that have distances between them. There


are other transport routes, significant bus network. But the


roads are not brilliant and accidents are regular occurrences.


And there is a note that strikes can happen out of nowhere, which


disrupts even the best of plans. Yes, there is a lot of advice about


making plans in advance, and it will take longer than people expect. They


always say to leave a lot of time and make sure you get the keeping


yourself safe. If you are disrupted, does travel insurance


cover that, does it cover the cost of replacement flight or a refund if


there is a strike? It depends on your policy. Typically, travel


insurance purchased in the UK will cover them to and from the UK, so


the journey there and back. Anti`Dash internal flights are not


always covered. `` internal flights are not always covered. It is worth


phoning your provider to ask if you can add this to your policy. There


are strict rules are some things in Brazil, for example you should have


identification on new. Yes, keep your passport somewhere safe, but


take a photocopy with you. Keep your passport in a safe or safety deposit


box. Also keep for two identification on you at all times.


`` photographic identification on you, such as a driving licence.


Also, does being under the influence of alcohol affect your insurance if


something goes wrong? It can do. The real thing is to be sensible. And


not put yourself in a situation with it is risky. A lot of policies have


wording on whether you are under the influence of alcohol, so read the


documents and be aware of what your particular insurer says. There are


different levels of wording, of tolerance of the policies, but they


do not want to be a spoilsport and stop you enjoying your trip to the


World Cup. But they will not pay out if people are irresponsible. Thank


you very much for joining us. We know that many of you bought


shares... One quarter of TSB is being put on the market. Small


investors will be offered one free share for every 20 we buy. That is


up to a value of ?2000. One catch is you have to keep the shares for one


year. More people are getting into debt cause of government mistakes


over tax credits. They are payments to parents or working people who are


not well off, but if the government pays too much up front, it has to be


paid back later. Citizens Advice say that some people have had to pay


back ?7,000. The taxman says if your income or circumstances change, you


must tell them to avoid future mistakes.


Do you need help with your finances? How about some divine


intervention? The Church of England is to offer financial information


inside church buildings. It does not look like moneylenders are going to


be let into the temple themselves. The people who need to borrow cash


will be advised to use credit unions instead of payday lenders. Mark


Lyonette is the chief executive of the trade body for credit unions. He


also sits on the Archbishop of Canterbury's tax crew for


responsible lending. This is a pilot programme. How was it going to work?


Yellow macro I think it is going to do three things. I think it is going


to help train local church people to help promote the local credit union.


I think some of those church people are probably also going to volunteer


their expertise. They will help support the local credit union in


whatever way is needed. And of course, hopefully many of those


people will help the credit union `` join the credit union.


What we should not forget is when someone like the Archbishop of


Canterbury, who has a financial services background, when he makes a


statement about the damage that payday lending is doing, and he


supports the credit union sector, then actually many people, whether


they are members of the Church of England, whether they are practising


Christians, the people of other faith or no faith, people do listen


and they get some trust to what he is saying. So this is not dependent


on the number of people who go to church every Sunday, this is a


service for all comers? Many of those people who go to the Church of


England or Scotland or the Methodist Church will themselves be helping


here. But I think the message goes beyond that. When someone like the


Archbishop of Canterbury comes out and makes the statement he has, I


think there is a level of trust, and that reaches well beyond the people


on Sundays. But as you know, some of the Church of England's investment


money has gone into funds which lent money to the payday lenders, and as


far as we know some of those arrangements exist. Wouldn't it be a


better signal if the Church of England cut all its ties to money


right there and then? As I understand it, and I am some way


away from this, the Church of England is doing its best to get out


of that investment as soon as it can without losing a huge amount of


money. You expect this will lead to more business for you. How do people


find there nearest credit union? The best way to find it is to go online,


if you have access to the Internet, find your credit union .co.uk,


taping your postcode `` type in your postcode. It will hopefully bring up


several credit unions you could join. Thank you very much for


joining us. Premium Bond is, you know what they


are, saving money for the future. You do not earn interest, but you


are put into a monthly prize draw. The limit to what you can invest is


about to go up to ?40,000. What are the chances of your numbers coming


up? It is nearly 60 years since Ella


tonic random number indicators started picking the month's


prize`winning Premium Bond 's. A third of us have Premium Bond 's and


we seem to like the idea of gambling interests on our savings on a prize


draw. Others look for a certain return. Once upon a time, you got a


letter if you won the Premium Bond 's. Now, less excitingly, we check


numbers online. Even less excitingly, the prize has been


reduced from 1.5% to 1.3%. That means that if you put ?100 into


premium Bonds, your annual return on average is ?1 30. So the big


question is, should you buy more premium Bonds, just because you can?


Some see them as another tax`free allowance, and others see it as a


bit of a lottery. If you have got the money, and probably if you are


higher rate taxpayer, and if you do not rely absolutely one income from


your investments, it is worth taking advantage of the increase in the


allowance. The chances of winning regulates the flow of deposits, so


we do things stand now? `` where do things stand now? There are 46


billion in circulation, which is a staggering number of them. Let us


think about the odds of you own the minimum number, ?100 worth. The odds


of you winning are under half a billion to one. That is similar to


both of us picking one person at random in the US or Japan and both


picking the same person. Are there better odds to win a better price?


`` any prize? Yes, they gave out 1.8 million prizes in May, and your rod


of winning one of those is about 25,000 to one. If you are still


dreaming of becoming a millionaire, the odds don't matter, which is just


as well. If you put your savings into cash Isa and buy a lottery


ticket every month, have better odds of becoming a millionaire. You can


visit the National savings website. There is the address.


That is all for this week. Keep up to date with what ever we put on the


website. The address on screen. You can follow us on Twitter also.


More next week, hope to see you then.


This is BBC News, the headlines: Britain's three main party leaders


condemned the death sentence given to a woman in Sudan for marrying a


Christian. The long`awaited tram service in Edinburgh opens to the




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