Money is subject to its fads and fashions just like everything else...

So (according to Matron's infinite financial knowledge) here are some tips on what's hot and what's not in all things money!

What's hot!

• Ethical spending: a better fit with our carbon neutral ambitions, saving the world and allowing us to sleep a bit better at night!

• Private healthcare: we're living longer, so we'll want to take better care of ourselves won't we?

• Online shopping: browsing at your leisure -with your mouse

• Pre-paid cards: never go over budget (and more secure too)

• DIY estate agency; why look at a cramped shop window in the pouring rain when you can sit in the warm and surf the internet?

• Lifestyle homes: the modern way to tackle old age and the golden years of retirement.

• Carbon Fuel investments: err...exactly why should we invest in damaging the environment? Are you daft?

• NHS Waiting lists: waiting is no longer an option (but you can't fault the staff for their work though!!)

• Department stores: browsing that is clearly not at your leisure -and it involves your feet

• Credit Cards: get a grip...stop temptation and save your money!

• High street estate agents: now you're just becoming an annoyance - can we have the shops back please?

• Retirement homes: who wants to just fade away?

Anything you feel we might have missed?

A summer full of floods, rising personal taxes and household bills, and 5 interest-rate rises since last August...

Is it any wonder the housing market is beginning to wobble? (and so many of us are feeling the pinch!)

Research says house prices rose just 0.1% last month, which is the smallest rise for 15 months (but house prices were still up 10% in the year to July!)

And with dropping numbers of mortgages being taken out, it seems that many of you are beginning to think twice before trying to climb the next rung on the ladder!

With that in mind, here are (thanks to Fool.co.uk) 5 traps for you to avoid!

• Buying in the 'wrong' area!

Hang on though, as it's simply not possible for all areas to beat the average, because the average reflects the market as a whole; this means that some areas will outperform others!

At present, central London property is leading the way, while prices are falling in other parts of the UK.

Therefore, if you buy a house in the 'wrong' area (whatever that means!) then you could see limited, or even negative, house-price growth in years to come.

Some say its better to 'buy the worst house in the best area than the best house in the worst area'. This is because you can improve a single house...but you can't upgrade an entire neighbourhood!!

• Not putting down a deposit!

To have any stake in your home, you need house prices to rise, and they don't always do that. If you can't afford to save even a modest deposit (about 5%) then you should avoid buying.

• Borrowing too many times your salary!

Since the Second World War, your typical house would sell for roughly 3.5 times the average annual wage.

In today's market, this ratio climbed to six times salary, and even higher in some areas. Despite this, many of you are willing to borrow four, five, six, even seven times your incomes in order to reach the next rung.

But this is dangerous as many of you could suffer as interest rates rise and more of your hard earned cash is swallowed by mortgage interest!

• Choosing the 'wrong' mortgage!

We have over 150 different lenders and 8,500 different mortgages to choose from. Is it any wonder the UK mortgage market is perhaps the most complicated on Planet Earth?!

Yet, despite the massive choice, many of you just pop down your local bank or building society for your loan!

So, despite millions of us shopping online for financial products, loyalty still drives many of us towards our existing financial partners. Alas, although faithfulness is an admirable trait in most aspects of life, it's a big handicap when it comes to you getting the best financial deals!

• Buying at the top of the market!

That is why now could be considered a terrible time to buy property according to two leading economic forecasters.

The Ernst & Young ITEM (Independent Treasury Economic Model) Club, which correctly predicted the property boom that began in 1998, calculates that UK house prices are presently overvalued by up to 16%!

Also credit-rating agency Fitch warned that UK house prices are overvalued by at least 20%.

They both caution that after New Zealand and Denmark, the UK is the most vulnerable to a housing crash.

So buyer beware; a crash is on its way; it's only a question of when!

So, if you feel like buying a home and you think the time is right, then go ahead; but tread carefully and keep the 5 homebuying mistakes in mind!

20% chance of house price crash!

Is the house price boom over?

As many of you are aware, Tom Brennan has become one of the leading names in the campaign against bank penalty charges!

However, it was announced this morning that he has failed in his bid to force NatWest bank to justify its unauthorised overdraft charges!

He had asked the court for permission to sue the NatWest for damages, over what he claims are "unfair" bank charges.

Victory for Tom would have meant that a bank, for the first time, would have to justify its fees in court.

However, the City of London court turned his application down and refused him the right to appeal the decision!

So, does that mean victory for the banks in the penalty charges saga? Who knows, but it seems we will have to wait for the result of the test case in the High Court!

MoneyHospital was interviewed about the Tom Brennan case on 97.3 FM LBC Evening News last night.

Listen to it below:

With the Office of Fair Trading filing an action in the High Court saying that bank penalty charges are unfair, it's bound to pose a few questions about what happens next!

So here are some key things you might be wondering about (especially if you are in the process of claiming!)

Why the high court case?

The banks involved say that a test case is needed to be heard in the High Court and it will enable them to finally clarify the legal position surrounding this.

They say they believe the fees are "fair and clear", but that consumers and banks need clarity on the issue.

The OFT says it disagrees with the banks on a point of principle: it says the unfairness rules of the Unfair Terms in Consumer Contract regulations do apply to bank overdraft charges; the banks say they do not (no surprise there!) The OFT hopes a High Court case will establish that the rules do apply (which means the banks are wrong and have been taking your money unlawfully!)

What will the outcome mean?

If the High Court finds in favour of the banks, it will mean that you are no longer able to ask for refunds on the grounds that penalty charges are unfair or unlawful.

Those of you that have already have already been paid will be able to keep your money.

If the ruling goes in favour of the OFT, it and the FSA will have to decide what the banks should do next.

The consumer group Which? says it hopes banks will simply refund the money that they know consumers have paid in charges over the last 6 years, without people having to write to their bank to ask for them back.

But people may have to continue making claims.

What happens if I have been offered a payout?

If your bank has already offered to refund your charges, you have 2 months to decide whether to accept the money or wait for the outcome of the High Court test case.

Accepting the offer will probably mean that you can't complain again after the test case has been decided; turning it down will mean taking a risk on the outcome of the case!

What happens if I am waiting for my bank to respond?

The complaint will remain with your bank or building society.

There will be no decision on individual claims until the test case is resolved.

What happens if I haven't complained yet?

According to Which?, you should carry on writing to your bank to make sure your complaint is in their system. But nothing will happen until the test case is resolved.

The eight organisations are involved in the test case are Barclays, HSBC, Lloyds TSB, the Royal Bank of Scotland, HBOS and Nationwide building society.

They represent 90% of the current account market, and other organisations have been granted a waiver by the FSA, so they do not have to respond to complaints within the usual time limits.

How long will the case last?

The FSA's waiver is set to last a year, which gives some indication of how long it thinks the test case could take!

The banks now have 28 days to file their defence, and could apply for a further 28 days to do so; this means it could be Christmas before the case finally reaches court.

A spokeswoman for Which? said she expected it to last many months.

So if you are in the process of claiming back penalty charges, then you wil need to keep a close eye on this case; it could determine whether you get all of your money back or not a single penny!