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The Times (subscription)How to use apps to save money abroadThe Times (subscription)Use the app to link the Supercard with your existing rewards credit card. Every time you pay for something abroad with your new card, it moves the charge, in sterling, over to your UK-based rewards credit card using the best Mastercard exchange rate ...
Birmingham MailThis new text message scam will steal your money and identity - how to avoid falling victimBirmingham MailThe National Fraud Intelligence Bureau – which sits alongside Action Fraud – has received information that fraudsters are now texting their victims purporting to be from their credit card provider. The texts will state that a transaction has been ...and more »
Telegraph.co.ukMoney Makeover: Help! I bought a flat with my best mate, but now want to move in with my girlfriendTelegraph.co.ukMs Holmes' does not earn enough to take on the mortgage alone even taking account of the healthy deposit gifted from parents. To bring Mr Petherick's income into play would require him to be a joint applicant on the mortgage and in most cases lenders ...
The GuardianMortgages, marriage and millennial angst: rewriting what it means to be adultThe GuardianIt's really stressful to spend that much money early in the morning! But this is an example of a simplified, clickbaity article that lays the blame on the individual, when really it's a lot more structural than that: we have an ageing population. We ...
The RegisterPlutus Payroll clients given hope pension payments will landThe RegisterAustralia's taxation commissioner Chris Jordan has given contractors impacted by the alleged fraud at Plutus Payroll hope they may yet receive compulsory superannuation payments. In a lengthy account of the joint Australian Taxation Office (ATO) and ...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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