Finance for football fanatics
Lisa Taylor, analyst at Moneyfacts.co.uk – the money search engine, comments:
“With the start of the 2007/08 football season just around the corner, football fans up and down the country will soon be getting ready to support their team, buying the new season’s kit and spending weekend afternoons shouting at the TV screen or signing at the ground.
“But there are also ways to support your team, just by going about your day to day finances and this season there are new offers to help finance your season ticket.
Savings Accounts
“With almost 70 football affinity accounts on offer, most fans will be able to find a savings accounts which helps boost the coffers of their favourite club. It’s worth checking out your own team’s website, as most will show links to their affiliates. Alternatively it’s worth looking at Norwich & Peterborough BS, Britannia BS and West Bromwich BS, the main providers of football savings accounts.
“Although the interest rates on these accounts are not marketing leading when compared with some of the online savings accounts currently available, the rates are in line with many branch based accounts. However it’s not just about the interest you’ll receive as an individual; there is a trade off in so far as some financial benefit is given to your club. The average rate payable at £5K on football affinity accounts is 3.97%, which is not too far off the average for the whole savings market of 4.07%.
“On average most affinity accounts will provide a 1% donation each year, so for every £1,000 invested for that year your club will receive £10. To put this into perspective, research from Britannia revealed 80,000 loyal football fans hold a Britannia Save and Support account, and between them have invested a total of £365 million.
“For many of the smaller clubs making ends meet can be a struggle, so by just investing your money in a football affinity account you could be making a real difference to the future and the success of your team. But remember you are sacrificing the best rates of interest on your savings.
“There may also be some perks, with discounts on club purchases, prize draws, free ground tours and match tickets and a whole array of other incentives available to loyal account holders.
Help to fund your season ticket
“This year has seen the launch of two innovative ways to help football fans purchase their season tickets. With tickets for the top premiership teams costing hundreds of pounds, it can make an extremely large dent in your pay packet.
“The Derbyshire BS Season saver is perfect for any fan looking to start early and save for next year’s ticket. The account matures ready in time for next season (31.5.08), and allows regular monthly deposits of between £10 and £100. It pays a respectable rate of 6.5%, and on maturity converts to a Rams Saver.
“While better rates can be found on other regular saver deals, this account is ideal for its purpose, fitting in with the timing of the season, and can be a great home to keep this money separate from your general savings (or away from the wife’s eye!).
“Barclaycard has just launched its Football credit card, perfect for anyone looking to finance this year’s season ticket. For those who have been unable to save enough money in advance, the football card offers 0% on season ticket purchases until the cost of the ticket is paid in full. Additionally it offers 12 months 0% on balance transfers.
“The card also offers a rewards scheme with selected retailers, prize draws and exclusive offers.
“Fans who take advantage of these offers shouldn’t be tempted to use their cards for purchases as the combination of a standard purchase rate of 14.9% and a repayment order, which sees purchases repaid after the interest free offer, would result in supporters having to fork out for interest charges, which would soon outweigh the other benefits available.
“The card offers a great deals for football fans, and the 12 months’ 0% on balance transfers is competitive too. But far better deals on purchases can be found, either by way of 0% deals or standard low rate cards. So don’t mix and match; keep your Barclaycard Football card for your season ticket and balance transfer deals only.”
Moneyfacts Group
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