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Consumers are set to turn away from ‘mid-level’ mobile phones as more advanced devices become more popular, according to experts.

According to ABI research, 441 million mid-market devices will be sold in 2013, compared to 854 million last year.

The firm says such phones are classed as ‘enhanced’ because they offer more than just voice phone calls but not the technology of smartphones.

ABI director of mobile devices Kevin Burden said: "The mid-tier phones, which are the largest [segment] now, will be squeezed over next five to six years."

Mid-level phones made up 74 per cent of the market last year, while low-end phones represented 16 per cent and smartphones took 10 per cent.

By 2013, ABI says mid-tier phones will have crashed to 23 per cent, with low-end phones reaching 46 per cent and smartphones climbing to 31 per cent.

The appeal of mid-level devices is expected to drop because most of them run ‘closed’ software, which does not allow for application add-ons.

More advanced gadgets such as smartphones use ‘open’ technology, allowing users to download and use independently-developed applications such as email software and RSS readers.

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Financial experts’ predictions of a significant rise in the number of declared insolvencies in England and Wales in the first quarter of this year, have been confirmed by figures recently released from the UK Insolvency Service.

Over the first three months of 2008, individual insolvencies were calculated at 25,264, a rise of 1.7% up from the previous quarter period.

The figures revealed that there were a total of 15,651 bankruptcies out of the overall 25,264 individual insolvencies declared, with bankruptcy declarations from the self-employed sector falling to 11% in 2007 compared to 61% in 1995.

Individual Voluntary Agreements (IVAs) reached a total of 9,614, down 22% in comparison to the same quarter in 2007, perhaps surprisingly given the added pressure on financial services created by the ongoing credit crunch.

The IVAs, which are basically arrangements made with creditors aimed at reducing the total amount of debt, are considered to carry less stigma than bankruptcy. The IVA industry is reported to be pushing through policy to further publicise and improve the service, and expects this effort to be reflected in the figures for the next quarter.

Mark Sands, KPMG director of personal insolvency, commenting on the current insolvency figures, commented that data from his organisation revealed that the average amount of debt owed on an IVA during the first quarter was £48,200, with over 500 people owing a minimum of £100,000.

Meanwhile Nick O’Reilly, newly appointed President of R3, the Insolvency trade body, warned that official statistics hid the full extent of the UK debt problem.

He commented: “The true number of those unable to pay their debts could be three times higher due to those in Debt Management Programmes (DMPs) not being included.”

Also remarking on the parlous state of indebtedness now existing in the UK, Anna Sofat, founder and Director of Addidi Wealth, a financial management service aimed at women and administered by women, said that Britain has “a lifestyle of debt”, and warned that soon many consumers “will pay the price for it”.

Ms Sofat believes that one of the main reasons why people find it increasingly difficult to save money is because mortgage rates are now higher than they have been for some time.

She explained that recently large numbers of consumers had been coming out of remortgages and fixed rate mortgages, and that towards the end of last year two to three year fixed-rates experienced a significant rise in interest charges.

Ms Sofat also commented on the fact that within the last two years lenders were offering money at “silly rates”, pointing out that personal loans were being offered at cheaper rates than a mortgage, homeowner loan or unsecured loan.

The overall gloomy picture of a debt-ridden nation was further borne out by a Citizens’ Advice Bureau report released recently, which stated that enquiries regarding mortgage arrears rose by 35% in the first two months of this year in comparison with the same period during 2007.

The impact of the credit crunch on property investment also continues to be keenly felt with The Nationwide company publishing figures revealing a fall of about £2,000 on the value of the average UK house, now standing at a figure of £178,555.

The cumulative result of this latest information is to generate new fears of negative equity forcing a likelihood of more house repossession, with little reassurance coming from the chilling and salutary tale of the Scottish £10million lottery winner, John McGuinness, who, after running up debts totalling £2.1million to the Royal Bank of Scotland (RBS), was forced out his £750,000 mansion on April 31st of this year.

Concern about money now also seems to be affecting the nation’s children, with a recent survey by Abbey Banking of 300 children between the ages of 11-15, revealing that the fear of “being poor and falling into debt” was their second greatest concern after worries about examinations.

Trying to save money wherever you can is important to us all. Car insurance should be no different. Do not assume that your agent knows everything about you and your vehicle.

Drivers should take advantage of all discounts that many providers offer, that can significantly reduce the cost of car insurance. Understanding discounts and how they can affect auto insurance premiums can help smart shoppers make better decisions about their coverage and possibly save themselves some money in the process.

Read below to identify possible discounts that could help you save on auto insurance this year. Other than discounts, there may be some other ways for you to save on your insurance premiums. We will go over several discounts that can help with your current situation.

First, there are discounts for Auto Safety features. Certain states will give you discounts for anti-lock breaks. Make sure you know if it is two or four wheel anti-lock break vehicle. Automatic seatbelts and airbags are frequently discounted on your insurance premiums. In most states, a defensive driver class discount may apply. If the principal driver usually 55 years old or older has completed an approved defensive driving class a discount could apply. Keep in mind that most states will only approve this class if it is voluntary meaning that it was not the result of a violation or infraction.

Some insurers will give you a discount for having multiple vehicles. In some cases, this will only apply if you have two or more drivers. If you have a clean driving record, meaning you do not have any tickets, accidents or suspensions in the last three years (some companies require five years) then you could be eligible for a safe driver’s discount.

Many companies will reward you with staying with the same insurance company for many years without any accidents reported. They will offer you a renewal discount. It makes sense, you have carried insurance with a company for several years, and have not had an accident, your insurance company likes you and wants to reward and keep your business. Some companies honor you with a discount if you had prior limits on your previous policy. They discount you because they understand you are a better risk.

Conversely, if you do decided to change insurers a proof of prior insurance discount may apply. Most insurers request at least 6 months of consecutive insurance from the previous insurer. If you are a full-time student who meets certain grade requirements and are unmarried and usually under 25 years of age (some states the age is 21) you could be eligible for a good student discount. If you own a home, including condominium, town home, or mobile home, which is used as a principal residence, a discount could apply. Military personnel either currently active or retired from any branch of the US military a discount could apply. If your vehicle is equipped with an anti-theft device, a discount could apply.

You could lower the cost of your insurance in other ways.
For people who own older cars, it may not be necessary or cost-effective to protect them with collision and comprehensive coverage. By comparing the book value of your vehicle and the premium that the insurer has offered, you may find that it cost as much for the insurance as it does for the vehicle. If the car is worth less than $2,000, you will probably spend more insuring it than it is worth. The whole idea of driving an older car is to save money, so why not get what is coming to you.

In addition, keep in mind that the type of vehicle you buy could greatly affect your premium. A flashy red sports car is usually going to cost more to insure than a mid sized sedan. This is also true of vehicles that are on the list of most stolen. There are many ways that policyholders can save on their insurance. Knowing more about auto policies and premiums can help consumers take advantage of less obvious discounts while ensuring that they have the appropriate protection for their vehicles. The last way to save is to assume more risk. If you chose higher deductible on your Personal Injury Protection or Comprehensive and collision coverage will lower your premium as well. The deductible is the amount of money you have to pay before your insurance company begins paying the rest.

Understanding how discounts affect your insurance rates is important to save you money.