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The Australian Financial ReviewCensus 2016: Higher mortgages, older, and a less religious populationThe Australian Financial ReviewTotal dwelling ownership in Sydney dropped to 62.3 per cent in 2016 from 65.2 per cent five years earlier as both outright and ownership with a mortgage fell. Nationally, home ownership fell to 65.5 per cent since the last census from 67 per cent. In ...and more »
AOL UK'Hole in the wall' proving cash is still king on 50th birthdayAOL UKThe cash machine celebrates its 50th birthday on Tuesday - with the "hole in the wall" remaining a popular way for people to manage their day-to-day money half a century after it first appeared on the UK's streets. The world's first ATM was unveiled by ...The ATM at 50: how a hole in the wall changed the worldThe Conversation UKall 20 news articles »
Daily StarGlamorous posh schoolgirl 'who hid drugs in her bra' gets off without jail termDaily StarNow she's dodged jail thanks to the mercy of the courts in her native Australia. Ms Arbib admitted fraudulently obtaining money by stealing credit cards and other items. The court in Sydney previously heard how Ms Arbib fell into a downward spiral when ...
The GuardianMorning mail: Britain's new rules for EU citizensThe GuardianMany details of the new arrangement are still being decided but EU citizens would retain access to public funds such as pensions, though they would have to meet a minimum income threshold of £18,600 to be eligible to bring a spouse into Britain ...
Express.co.ukHow YOU could be losing over £100 per holiday due to THIS bank card trickExpress.co.ukSome debit cards can be worse than credit cards, despite what some holidaymakers may think. However, the true ... Prepaid card provider FairFX found that a huge £5 billion is lost by consumers every year due to bad rates and currency fees. Many of ...
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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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