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QuartzA new journalism startup in Hong Kong is betting the public will pay for unbiased newsQuartzThe quality and independence of the South China Morning Post, Hong Kong's main English-language paper, is widely perceived to have declined in recent years, especially after having been acquired by e-commerce giant Alibaba last year. Two years ...
Daily Trust12 years after liquidation, Nigeria Airways echoesDaily TrustAccording to him, the airline's Board of Directors, at the time the firm was liquidated, was utterly corrupt, forming various dubious companies which were used as conduit pipes to siphon funds from the airline, under the guise of servicing and ...and more »
Belfast TelegraphAustralia to sell £9m seized bitcoin haulBelfast TelegraphBitcoin is a type of digital currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties. The coins are created by users who "mine" them by lending computing power to ...and more »
Financial TimesUS peer-to-peer lending model has parallels with subprime crisisFinancial TimesThat is certainly a description of the US subprime mortgage craze of a decade ago — and the disaster that followed, after a collapse in house prices and a rise in loan defaults triggered a tidal wave of losses for banks around the world. It could ...
Mirror.co.ukBuy your first home with your grandparents using this clever new mortgage schemeMirror.co.ukThe Barclays Family Springboard Mortgage allows first-time buyers to take out a loan without putting down any money at all. Instead, a parent puts a chunk of savings in a linked account. After three years, if the payments are made, they can get their ...The mortgages where 70-year-olds borrow to help their grandchildrenTelegraph.co.ukOne Family launch 'inter-generational' plan to help relatives pay for first homesDaily Mailall 6 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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