Money

It’s really important that we all know how to protect ourselves and those around us from financial scams. The States of Jersey Police (SoJP) and Jersey Financial Crime Unit (JFCU) have issued a public warning following a series of sophisticated scams, where imposters posing as bank representatives have defrauded dozens of victims in the island, resulting in losses exceeding £10s of thousands of pounds, since January this year. They’re urging us to be vigilant and to report any suspicious activity immediately by contacting the States of Jersey Police on 01534 612 612. Here are some tips on how to protect yourself and loved ones: Never Share Sensitive Information: Do not disclose online banking passwords, one-time security codes, PINs, or tokens to anyone over the phone.  Verify Independently: If you're uncertain about the legitimacy of a call regarding your bank account, end the call immediately. Then, contact your bank or financial institution directly using the official number from your banking app or the back of your bank card.  Stay Alert: Your bank will never request personal security details, such as passwords and codes. If you receive a suspicious call, hang up at once. Do not respond to, or click on, links in text messages purporting to be from your bank.  Community Vigilance: Check on friends and family, especially those who are more susceptible to such scams, to ensure they are aware of these fraudulent schemes and know how to protect themselves. The SoJP and the JFCU are committed to combating financial crime and protecting all islanders from these predatory tactics. For more information on how to prevent financial fraud or to report a scam. States of Jersey Police - How to Spot a Scam or visit www.fraudprevention.je Report a scam by telephoning the States of Jersey Police on 01534 612 612.    

There’s some good news for Islanders when it comes to Jersey forecourts. Fuel prices have consistently lowered during January overall.   In the image we see our cheapest five fuel stations compared to January 2023. Let’s hope it continues. We’re updating our Price Comparison site, so you won’t find up-to-date prices there at the moment. Look out for our new site coming soon…

Many consumers find themselves juggling numerous bills, each with different due dates and amounts, making it challenging to decide which one to pay first. Our friends at Community Savings, a Jersey charity dedicated to helping those experiencing financial difficulties, understand the importance of prioritising bills, and offer the following advice to Islanders on how to tackle this common financial challenge. START WITH HOUSING BILLS Your home is your sanctuary, and ensuring that you have a roof over your head should be your top priority. Begin by focusing on the following housing-related bills: • Rent or mortgage payments: Paying your rent or mortgage on time should be your absolute priority. Failure to do so could lead to eviction or foreclosure, which can have devastating consequences on your living situation. • Utility bills: Electricity, water and gas bills are essential for maintaining a safe and comfortable living environment. These should be paid promptly to avoid disconnection. CREATE A BUDGET To make the process of prioritising bills easier, create a monthly budget that outlines your income and expenses. Allocate funds for housing costs, utilities, groceries, transportation, and other necessities. Having a clear financial roadmap will help you stay on track. BUILD AN EMERGENCY FUND Building an emergency fund can be a lifesaver when unexpected expenses arise. Aim to save at least three to six months’ worth of living expenses. This fund can act as a safety net to cover bills in case of emergencies. NEGOTIATE PAYMENT PLANS If you’re struggling to meet all your financial obligations, don’t hesitate to reach out to your creditors or utility providers. Many are willing to work with you to create manageable payment plans, or offer assistance programs for those facing financial difficulties. SEEK PROFESSIONAL HELP If you find yourself overwhelmed by debt and struggling to make ends meet, don’t hesitate to seek professional financial advice. Organisations like Community Savings offer budgeting advice and financial mentoring to help you regain control of your finances. AUTOMATE BILL PAYMENTS Consider setting up automatic bill payments for your housing-related expenses. This ensures that these crucial bills are paid on time, reducing the stress of managing multiple due dates. CONTACT COMMUNITY SAVINGS Call on 737555 Email: office@communitysavings.org.je

Here are our top tips for consumers this Christmas: Plan early – organisation is key. Don’t forget your everyday bills – they still need to be paid. Shop around to get the cheapest prices. Be careful with your credit card – clear the balance straight away. Don’t reply on your overdraft – it always has to be paid back. Don’t borrow from unauthorised lenders. Always buy from a reputable company and do your research. Don’t be tempted to buy something just because it’s advertised with a big discount. You might find a better deal elsewhere. Check and track prices using sites such as camelcamelcamel.com who monitor Amazon prices throughout the year. Sign up to your favourite store newsletter or follow them on social media for the latest deals. Get a store loyalty card to receive loyalty points or special offers. Look out for two-for-one offers – get two presents for the price of one. Look out for scams - if it’s too good to be true it usually is.

If you've received any Christmas gifts you don't want or, even worse, that don't work, then it's important you know your rights. Most shops will allow you to return unwanted gifts, as long as you have either a gift receipt, or ask the person who bought it for the original receipt. But there's some important things to be aware of.   Returning faulty goods As a consumer, the Supply of Goods and Services (Jersey) Law 2009 protects you if your goods are:    Faulty or damaged    Useless    Not what was advertised or matching the description    These terms apply whether your goods were bought new, in a sale or even second hand. Usually you'll be required to provide proof of purchase when returning goods, such as a receipt.    If goods are faulty, within a reasonably short period of time after the sale took place, a consumer is entitled to a full refund or compensation. However, consumers could alternatively select a repair or replacement, which would then be at the company’s discretion to accept.   Returning unwanted goods When returning unwanted rather than faulty goods, consumers will usually have to follow the company’s internal returns policy. These ‘goodwill’ policies may offer either a refund, exchange or credit note. It’s worth noting that company’s aren’t required by law to have a returns policy. Time limits may be imposed on these returns, such as 28 days, and may increase around the Christmas period.     Returning online goods When buying online goods, you have additional rights for returns. This is because of the ‘expectation versus reality’ phenomenon, where the image online may look nothing like the physical item you receive. Under the Consumer Contracts regulation, you have the right to return items if you change your mind. Once your goods have been received, you have 14 days to request a return. Some companies will do pre-paid returns, but some will require the customer to pay for their own postage.      Gift cards Expiry dates for gift cards can vary enormously. These can range from just a few months to even a year. When receiving a gift card, make sure to check the expiry date to ensure you use it in this timeframe. The gift giver won’t get their money back if you don’t spend it!   If you lose a gift card, then you may be able to have one reissued for a small fee. However, this is ultimately within the retailer’s power.

AHHHH, it’s Black Friday, so many bargains to buy buy buy… When it comes to tackling Black Friday we’re advising you to stay calm and don’t feel under the pressure to buy. To help you take on this busy Christmas shopping day, we’re sharing some Which? magazine tips that will help you bargain shop wisely. Don’t Panic The pressure of Black Friday can leave you feeling pressured into buying quickly. But you don’t need to hurry. Which? say that the majority of products remain the same price or even cheaper after Black Friday. So take your time.   Check if the deal is real By using price tracking websites such as CamelCamelCamel for Amazon or PriceRunner for wider websites you can see comparisons of what really is the best deal before you commit.   Research the product Many shoppers admit that they don’t research the product that they buy during Black Friday for fear of losing out on the deal. Shop calmly and use reviews and price trackers to make sure you’re getting the best product instead of a dud product.   Watch out for hidden costs Unexpected extra costs may be added at the checkout to bump your price up. Some online retailers use a buy now or click and collect button. Always go into your basket and check out slowly, make sure you check your tax and shipping fees before you pay.   Know your rights Lots of consumers regret their impulse buys on Black Friday. Always check your returns policy. Buying online gives you more rights - you usually have the right to change your mind and cancel your order for up to 14 days from when you receive the goods. Make sure you keep all proofs of purchase.