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This is MoneyTONY HETHERINGTON: Between the Rock and a hard place in binary fiascoThis is MoneyIf you lose, you lose 100 per cent of your money. Over the ... K.G. writes: I decided to take my tax-free lump sum of £7,103 from my pension, after being given figures by pension company NPI and annuity adviser Just Retirement. Imagine my ... If you ...
The Times'I cashed in final salary pension for £272000. Can I turn it into £1m?'The Times... £90,000 at age 65 and a £12,500 annual pension, for a money lump sum of £272,000. Mr Beglarian and his spouse Liz, each 57, now personal a small property and lettings company. ... The cash, held in a Scottish Widows retirement account, is invested ...
This is MoneyHSBC say all of 275000 payments missed in computer meltdown are now processedThis is MoneyIt's typically used for making regular payments such as salaries, pensions, state benefits and tax credits - almost 90 per cent of the UK workforce are paid using Bacs direct credit, figures show. More than 150,000 UK organisations currently use it ...and more »
This is MoneyClydesdale and Yorkshire best-buy purchase credit card with 26 months 0% interestThis is MoneyBy Emma Gunn for Thisismoney.co.uk. Published: 03:08 EST, ... The credit card beats the previous best-buy deal - the Post Office's Matched card - by one month, giving borrowers looking to spread the cost of their spending with a purchase promotion the ...
Telegraph.co.uk'Fake villa owner stole our £2400'Telegraph.co.ukThis is true enough but you had made inquiries before sending the money and safer options such as paying by credit card are not always available in such circumstances. For tips about online scams, see getsafeonline.org. • If you want to contact Jessica ...and more »
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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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