Savings News
Save a deposit for your first home in just six months
Peter Edmonds, independent mortgage advisor at Central Financial Services, discusses how first time buyers could save a deposit and purchase their first home in much less time than money househunters think:
The rainy day fund - a third would last less than a month on savings
Millions of Brits would last just weeks living off their savings, it has been revealed. Researchers, who carried out a detailed study into the financial commitments of 2,000 adults, discovered that one in three would last less than a month if they were forced to fall back on the rainy day fund.
Couples miss out on savings by living financially separate lives
Over half (57%) of UK households are missing out on savings of over £350 per year by failing to consolidate their finances with family discounted products, new research from Aviva reveals.
Half would be ‘completely stuffed’ if they lost their job
More than half the working population would be ‘completely stuffed’ if they lost their job tomorrow, it emerged.
Seven mistakes - average Brit has seven major regrets in life
The average adult has seven major regrets – with starting smoking, not saving enough money or putting on weight likely to be top of the list, it has been revealed. A study of 2,000 adults revealed taking up smoking was the most common regret, with 88% of smokers wishing they had never started in the first place.
Austerity tacticians - the money saving measures we use at home
Millions of Brits have adopted a war-time style ‘rations’ mentality in order to save money amid the continuing economic downturn, has been revealed.
Savers urged to consider alternatives to cash
As the four year anniversary of interest rates hitting their all-time low of 0.5% approaches next week and with inflation still hovering at 2.7%, Fidelity Worldwide Investment is urging those saving for the long term to consider whether their savings could be working harder.
Record low base rate four years on - the winners and losers
With March 7 marking the fourth anniversary since Bank of England base rate dropped to a record low of 0.5 per cent, analysis by MoneySupermarket has shown that the cost of borrowing on mortgages and personal loans has fallen dramatically over the period, while savings rates have plummeted further since the Funding for Lending Scheme was introduced in August 2012.
Attitudes to saving creating national financial precipice
Almost 15 million people across the UK (31% of the adult population) are not currently making any efforts to save for the future, while eight million people (17%) have no savings to their name at all, according to Scottish Widows' seventh annual Savings and Investment Report.
Women more committed to saving than men
Despite lower average earnings women are now saving more money than men, according to the latest Halifax Savings Barometer.
Brits face 12 years of hardship in retirement after savings run out
Today's workers will run out of savings just seven years into their retirement according to new research from HSBC.
The ‘baby buffer’ - average family banks £2,547 before a new arrival
Typical parents-to-be have a ‘baby buffer’ of £2,547 in the bank to prepare for their new arrival, research has revealed.
Inflation remains high but savers can still make money work harder
Today's announcement by The Bank of England that The Consumer Price Index (CPI) has remained at 2.7 per cent, means that savers need to be proactive and move to an account paying better rates in order to limit the impact of inflation on their money, according to analysis by MoneySupermarket.
1 in 5 Brits have never switched and saved
New research by Gocompare.com has revealed that although 64 per cent of Brits are expecting 2013 to be a very difficult year for them financially, over 9.5m UK consumers haven't switched any of the 10 most common financial products including car insurance, home insurance, energy provider, credit card or mortgage lender...ever.
Premium brand 20-a-day smokers could save up to £2,900 in 2013
This New Year, the Money Advice Service urges smokers to try its free, online Cut-back calculator to instantly reveal how much cash they could save if they cut back or quit smoking - extra cash which could work hard in a savings account such as an ISA or a pension.