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US growth and trade data disappoint but Trump promises 'revved-up economy' - as it happenedThe GuardianSir Philip Green has agreed to pay up to £363m into the BHS pension scheme as part of a cash settlement with the Pensions Regulator. BHS collapsed into administration last April, leading to the loss of 11,000 jobs and leaving a £571m pension deficit.and more »
US growth and trade data disappoint but Trump promises 'revved-up economy' - liveThe GuardianThe increase in real GDP in the fourth quarter reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, residential fixed investment, nonresidential fixed investment, and state and local government ...and more »
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Citywire.co.ukScottish Mortgage set to soar into FTSE 100Citywire.co.ukAJ Bell investment director Russ Mould said the trust's focus on 'long-term growth stories' outside the UK had helped it benefit from the pound's heavy fall following the Brexit vote, swelling its assets and pushing it towards the FTSE 100. 'The ...Dixons Carphone plc set for FTSE 100 exit. Capita plc & easyJet plc also in dangerAOL Money UKall 6 news articles »
Irish mortgage market surges in JanuaryLondon South East (registration) (blog)DUBLIN, Feb 28 (Reuters) - The value of mortgage approvals in Ireland grew 60 percent year-on-year in January, data showed on Tuesday, as an easing of central bank lending rules and a new government subsidy for first-time home buyers accelerated a ...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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