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The IndependentMore than 160000 people could get disability benefit back-payments from Department of Work and PensionsThe IndependentThe ruling in December found that an amendment to personal independence payment (PIP) which limited the amount of support people with psychological distress could receive for making journeys constituted a breach of their human rights. Summing up the ...Ministers back down over disability benefit payments to 164000 peopleAOL UKEsther McVey makes disability benefits U-turn over paymentsThe GuardianMore than 150000 people set to get higher disability benefits in massive victory after humiliating Tory U-turnMirror.co.ukall 7 news articles »
The GuardianFrank Field demands answers over 'reckless' running of CarillionThe GuardianRoyal Bank of Scotland, one of the high street banks that have offered £225m of relief for affected businesses, said it would extend support to any personal banking customers hit by Carillion's failure. As ministers and businesses counted the cost of ...and more »
Telegraph.co.ukWhy remortgage rates are soaring despite inflationTelegraph.co.uk... the highest level for nearly six years, squeezing household incomes further and making it more important than ever for homeowners to look at ways they can reduce their outgoings. The Bank of England has said that “further modest increases”in ...
Mirror.co.ukMore than 150000 people set to get higher disability benefits in massive victory after humiliating Tory U-turnMirror.co.ukLaura Wetherly of the MS Society added: "This is much-needed recognition from the Government that mental difficulties can affect people's lives just as much as physical symptoms. "It will come as a huge relief to the thousands of people with multiple ...Ministers back down over disability benefit payments to 164000 peopleAOL UKEsther McVey makes disability benefits U-turn over paymentsThe Guardianall 5 news articles »
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To Save or To Clear the Debts?

You may have noticed that your savings aren’t doing a lot to pay their way these days. Pensioners are badly hit as many of them use the interest from their life savings to pad out the weekly amount they get from the state. Many mortgage payers are happy as their payments have come down, but just about everyone else with savings is in the situation where the real value of their money is falling because interest payments aren’t as high as inflation.

 The average rate for UK instant access accounts including current accounts was around 0.17% at the end of February and we’ve had another cut in the Bank base rate of half a percent since then. Despite that, with credit hard for many people to come by; credit limits being cut by the card companies and worries about job losses, if you can, it’s best to have some savings on hand for an emergency. And the latest figures show that people are saving more. There’s nearly £1,000 billion of savings in our banks and building societies and another £90 billion in National Savings.  

In terms of interest you may as well keep your money under the bed – but then that’s probably the first place a cash strapped burglar is going to look. Fixed rate bonds pay slightly higher rates than instant access accounts. National Savings and Investments products are increasingly popular because people want to know their money is safe whatever the interest rates and they have a 100% government deposit guarantee. It’s never been more important to shop around and don’t be slow to move your money to higher interest rate paying accounts. Keep a close check on any accounts you do have to see what interest you are being paid. The financial pages of the newspapers are good for advice on which accounts are paying the best rates but these change frequently. 

Once you’ve got your emergency fund in place if there’s any money left over think about clearing expensive debts. There’s no point in having a lot of money sitting in an account getting 2.5% interest if you’re paying off loans or credit card accounts at interest rates in the high teens and 20’s. Homeowners are paying off their mortgages too. Some who’ve seen their monthly payments fall are continuing to pay at the old rate so that they clear their mortgages more quickly.

If you have a lot of savings think about getting some financial advice. Your money may not be doing as well for you as it could and a good Independent Financial Adviser can be worth his or her weight in gold. Visit more than one and choose the advice you feel happiest with. Family, friends and colleagues may be able to recommend advisers they’ve used and found helpful.

If you’re lucky enough to have money to put aside it’s time to take stock and nurture it so that it can nurture you back in the future.

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