Savings News
Pensions savings finally hit by recession woes
Two years on since the start of the credit crunch and it is only now that the long term effects of the downturn on pensions savings has been realised according to the sixth annual Scottish Widows UK Pensions Report.
Game on for Black Country savers
Everyone has gone World Cup and Wimbledon crazy so in celebration of the sporting mood of the whole nation, The Tipton has launched two new savings products, enabling Black Country savers to net more interest.
Default Retirement Age 'phase out' a wake up call to savers
With the new coalition Government's plans to phase out the Default Retirement Age (DRA) Friends Provident is stressing the need for savers in the UK to start planning ahead or face working into their seventies.
Savvy teens realise importance of savings
Saving savvy teens and twenty somethings are putting their parents' generation to shame when it comes to financial management.
The Welsh to make deep cuts to household spending
With just one day to go before new Chancellor George Osborne delivers his long-awaited Emergency Budget in which he will seek to make £6 billion of savings, the people of Wales have signalled they are ready and willing to make their own cuts in personal and household spending.
Short respite but inflation rises will punish savers further
Inflation figures show that the Consumer Price Index (CPI) has fallen marginally to 3.40%, still way above the Government's 2% target.
Inflation falling a double edge sword for savers
The announcement by the Bank of England that inflation has fallen during May, with the Consumer Price Index (CPI) down to 3.40 per cent, gives Britain's beleaguered savers some short term relief, but the forecast for the longer term looks bleak, according to moneysupermarket.com.
Brits choose cars over savings
According to the latest research from Standard Life, only 46% of consumers ‘care' about their pension, but over half (54%) ‘care' for their car. The average cost of a used car sold in March this year was just £5,791, a very small figure when compared to something that could safeguard your financial future.
Younger adults leading the way on savings
A potential savings revolution is upon us as for the first time younger savers are over taking the older generation when it comes to getting into the savings habit.
Cash deposits rocket 275%
Cash deposits have seen a massive boost in the past three months according to the latest statistics from Fair Investment Company.
Dozen best buy savings deals disappear
Andrew Hagger of Moneynet.co.uk looks at the latest changes in the savings market.
Britain’s savings level crunched by recession
New research from unbiased.co.uk reveals that savings plummeted in mid-2008, from around £39 billion to £20 billion, and haven't recovered since - making them a major victim of the credit crunch. The latest figures show people are now saving just over £16 billion.
Vouchers are the new dating currency
Three quarters of us would be happy to go on a second date if our new squeeze used a voucher to pay for dinner on the first date, a new survey has found. More than half of us would even feel “happy” that our date was bagging a bargain so they could spend more money spoiling them for the rest of the evening.
Savings balances increase at mutuals in April
Balances held in savings accounts at mutual institutions increased by £929 million in April compared to an increase of £534 million in March. After interest credited to accounts is excluded, mutuals had a net receipt of £537 million in April.
CGT changes could affect millions of long-term savers
Millions of average long-term savers could be dragged into the CGT net if the government's tax changes include significantly reducing the tax-free allowance, analysis from Fidelity International shows.