Savings News

Young people lead the way for austerity

The younger generation is moving away from a ‘buy now - pay later' culture and embracing austerity, with a massive 63% of Welsh 16-24 year olds believing now is a good time to save.

Long-term savers have missed out on doubling their money

Long-term savers who have shunned the stock market over the last ten years have missed out on doubling their money, according to analysis by The Motley Fool.

Women and the younger generations boost Britain's savings

NS&I's latest Quarterly Savings Survey shows that there has been a turnaround in savings levels since last quarter, however there is still some way to go before they return to the levels seen in Winter 2011/12.

40% of consumers turn their back on retirement saving

AXA's latest Big Money Index reveals a bleak long-term picture for increasing numbers of recession-weary consumers, with four in 10 now not saving for retirement and 20 per cent not saving at all.

Bargain-hunter Brits net £14bn savings a year

Cash-strapped people in Britain have saved as much as £14 billion in the past year - an average of £346 each - by hunting around for the best bargains on life's essentials, including groceries, insurance, clothing, mobile phone contracts and holidays, among others, available in shops and online, according to research from Santander.

Over 55s face retirement cash shortfall of almost £70k

Savers aged 35 and above have high targets for a cash savings pot to supplement retirement income but are failing to put enough away. In contrast, younger people are aiming low, but stand to accumulate larger pots if they keep up their good habits, according to HSBC.

Halifax offers savers £1m prize pot

Approaching the first anniversary of the launch of its Savers Prize Draw, Halifax has announced that it will be offering three prizes of £250,000 in its December Draw, celebrating the success of its initiative which was designed to shake up the high street savings market.

Monthly offset payments making savers' money work harder

At a time of historically low Bank of England Base Rates, savvy savers are looking for alternative ways of making their money work for them.

July mortgage lending and savings up at societies and other mutuals

The increase in mortgage lending by building societies and other mutual lenders continued in July with gross lending of £3.1 billion, up by 44% compared to the same month last year.

Introducing the UK’s savviest family

A HGV driver and his family from Pontefract, Yorkshire are announced as the UK’s savviest family in 2012, after showcasing their money-saving talents in the national Nectar Savvy Family competition.

Don’t rely on an inheritance

Britain may be basking in a post-Olympic glow, but the nation's personal financial legacies are in need of a boost, according to a survey by Nationwide Building Society.

NS&I announces changes to its fixed rate range

NS&I has announced the latest stage in its programme to simplify and modernise its savings range. The changes - which start to come into effect from 20 September 2012 - affect NS&I's Index-linked and Fixed Interest Savings Certificates, Guaranteed Growth/Income Bonds and Children's Bonus Bonds.