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Daily MailMonarch scraps credit card booking fees saving families £60 a flightDaily MailMajor airlines are scrapping unpopular credit card fees in a move that could spell the end of the charges. Passengers have long regarded the fees as simply another way for airlines to grab extra money from them. ... A crackdown on excessive charges was ...and more »
The Times (subscription)Anne Ashworth: The Trump effect on mortgage ratesThe Times (subscription)The need to raise finance for Trump's planned infrastructure spending is driving up global money market rates, with consequences for UK borrowers. The reduced availability of superdiscount finance is just one of the reasons why people believe that the ...and more »
The SunMarco Pierre White Jr gets community order for using ex's credit cardBBC NewsThe son of chef Marco Pierre White has been ordered to perform unpaid work after he admitted dishonestly using his ex-girlfriend's bank card. Marco Pierre White Jr, 21, had pleaded guilty to dishonestly making a false representation on 23 November. He ...Marco Pierre White Jnr sentenced to 120 hours of unpaid work and ordered to pay £2500 compensation after using his ...The Sunall 10 news articles »
AOL Money UKAnnuity Rates on the upAOL Money UKWe have become used to annuity rates going in just one direction - down, so a recent rise in rates has come as a welcome change. The experts highlight that while now is a good opportunity to take advantage of the rise, there is another way to get ...and more »
BBC NewsMarco Pierre White Jnr sentenced to 120 hours of unpaid work and ordered to pay £2500 compensation after using his ...The SunMARCO Pierre White has walked free from court after using his girlfriend's credit card to buy goods to pay for drugs. But the tattooed Celebrity Big Brother contestant was given a community order to carry out 120 hours of unpaid work for fraud ... He ...Marco Pierre White Jr gets community order for using ex's credit cardBBC Newsall 10 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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