Savings News
Younger generation need more help to understand ISAs
New research from Lloyds TSB Savings shows that whilst the nation is savvier than ever about Cash ISA's, today's younger generation of 18 to 24 year olds need more help to understand the benefits of an ISA.
14.5 million Brits are saving more than ever
A survey by Clydesdale and Yorkshire Banks into the nation's saving habits found that despite feeling the squeeze, over a quarter of us (28%) are saving more money than we did twelve months ago and 24% are going to unusual lengths to stash the cash.
Mums forced to reduce family savings to budget for essentials
Ahead of the Chancellor's budget this Wednesday, Family Investments reveals, in its first ever UK Mums' Budget, that almost half of mums across the country (47 per cent) will be reducing family savings by an average of £386.76 over the next year.
UK average cash ISA balance is £7,836
Customers in Derbyshire Dales have the highest cash ISA balance of £10,478, 34% above the UK average of £7,836, according to the latest Halifax Savings Map. South Bucks (£10,321), Harrow (£10,228), Chiltern (£10,165), East Dorset (£10,120) and Brentwood (£10,025) all also have balances over £10,000.
Nationwide calls on Government to invest in savers
With 16 million British people having no savings at all, the forthcoming budget represents a vital opportunity for the government and savings providers to focus on the future of Britain's savers.
Northern Rock launches new savings website
Northern Rock has launched a new interactive website - northernrock.co.uk/savings/ to make it easier for customers to find a Northern Rock savings product from the competitive range available. The new savings website follows the introduction of Northern Rock’s award-winning Mortgages website, which was launched in April 2010.
Savers set to lose out by not investing tax efficiently
Unbiased.co.uk's annual Tax Action Report reveals that savers are losing out on as much as £509 million by failing to put their savings and investments into tax-efficient savings accounts.
Barclays launches new everyday banking videos online
Barclays has launched two new online videos, helping customers get to grips with all the essentials they need to know about their everyday banking for savings and mortgages.
Brits raiding savings to fund everyday living
With household finances under severe pressure due to the rising cost of living and rising unemployment, research by moneysupermarket.com has found almost a quarter of Brits (23%) with savings are using this money to pay for everyday household bills and spending.
Savings suffer as consumers pay off debts in record amounts
New research from unbiased.co.uk, the professional advice website, reveals 2010 was a record year for consumers repaying their debts, but savings levels suffered as a result of it.
Barclays launches new competitive savings range
Barclays has launched two new savings products, including a highly competitive cash ISA paying 3.25 per cent AER/ 3.20 per cent tax free per annum variable to enable customers to make the most of their tax-free savings allowance.
Spring savers had Christmas wrapped up
British savers covered almost a quarter (23%) of Christmas spending using their savings pot, according to the latest quarterly Saving Britain research from BM Savings.
Cost of raising a child climbs to £210,000
The cost of raising a child until their 21st birthday now totals more than £210,000, according to the annual Cost of a Child Report from insurance, investment and retirement group LV=. This equates to £10,040 a year, £836 a month or £27.50 a day.
Brit's are saving for a rainy day
New research from Confused.com has revealed that as a nation we're saving for a rainy day rather than towards any particular goal.
Saving for life’s big events
Britons are dramatically underestimating the cost of life's big events, reveals new research from HSBC. On average life's big events cost £314,000 however Britons estimate the cost will be just £190,000, a shortfall of £124,000.