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News to invest in Lloyds adjusted down to the £1,000 limit. Precise details of how the share sale will be administered are not yet available but anyone interested can register their details on a website – - and receive further information as it ...Lloyds share sale: Osborne announces £2bn stock offer - HALF of £4bn election 118 news articles »
Belfast TelegraphThousands of cancer patients across the UK struggle financially to keep their ...Belfast TelegraphOur children had grown up and left home. We were both earning a good wage and ploughing everything into our dream home. But without two wages coming in, we had to use our savings to keep up with the mortgage. There was no money left to pay for food, ...and more »
Reuters UKOsborne poaches policy with eye on leadershipReuters UKAt the annual conference of the ruling Conservative Party, Osborne will say the government will invest 5 billion pounds by 2020 and pool local government pension pots into six wealth funds worth 25 billion pounds each to invest in vital infrastructure ...UPDATE 1-UK's Osborne poaches policy with eye on leadershipReutersall 118 news articles »
WalesOnlineUPDATE 1-UK's Osborne poaches policy with eye on leadershipReutersMANCHESTER, England, Oct 5 (Reuters) - Finance Minister George Osborne will launch a plan on Monday to spur infrastructure investment in Britain, seeking to counter a push by the left-wing opposition and stake the government's claim to the centre ...Osborne poaches policy with eye on leadershipReuters UKall 143 news articles »
BloombergU.K. Said to Eye Full Lloyds Exit With 2016 Sale to InstitutionsBloombergChancellor of the Exchequer George Osborne pledged to sell at least 2 billion pounds of Lloyds shares to households on Monday as he seeks to recover funds spent bailing out the lender during the financial crisis. He also started selling shares in Royal ...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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