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Fergus will be back on BBC on Wednesday this week on the John Beattie Show on BBC Radio Scotland just after the 1pm News with some great tips to help organise your money and understand your consumer rights. Catch up on previous shows here

Moneysucks for musicians

Have a look at the first part of our new series on how musicians can best maximise and protect their income from their own words and music.

What do you hate paying for?

What are the things that you most hate spending money on?

And what essential services do you think should always be available free of charge?

And should you just not buy goods and services when we think that the fees charged are excessive? Of course that’s easier with some examples than with others. If you’re caught short and the only toilet in range charges a fee then perhaps your options are limited, but you don’t have to pay overdraft fees if you don’t go overdrawn. Or if you have agreed your overdraft in advance then any fees might be greatly reduced or non-existent.

Likewise with the ATM machines that charge a fee for withdrawing money. Don’t use them! Wait until you pass a machine that is free and withdraw your money there. The fees are extortionate and I for one wouldn’t encourage them.

Same with mobile phone roaming charges. If you make sure you check out your contract before you go on holiday then you are unlikely to be hit with a surprise bill on your return. Rewind a bit more and make sure that the contract you are taking out suits the way you are likely to want to use your phone.

It’s no good moaning about roaming charges that are all laid out in the contract and the only reason you didn’t expect to have to pay them was because you didn’t read your contract.

Sure, there are lots of contracts that we enter into and goods and services that we buy that have charges that are outrageous and unfair. But in many cases we do have a choice. We can choose to go elsewhere to buy the things we need to buy, and from a provider or retailer that doesn’t impose these charges.

So what are you pet hates? What services should always be free? Loos in stations? ATM machines? Websites that help you apply for a new passport? Overdrafts? Should phone calls from overseas cost that same as from your home country?

Let us know what you think.

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Bank of England Governor Mark Carney hinted last week that interest rates could be on the move soon and it seems as though this announcement is already leading to some lenders increasing their rates for borrowers.
60 Second Tips

In a brand new series listen to and watch Fergus Muirhead here as he explains common money and consumer issues in less than one minute.
This series will build up over the next few months into a valuable library of money and consumer tips, all delivered in a simple and straightforward way.

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