Savings News
Rising cost of living top reason for failed life goals
More than half of 40 year olds put their dashed dreams down to rising living costs (55%) according to research from online broker Selftrade.
Half the working population not saving enough for retirement
New research, unveiled today at the ABI Savings Conference 2008, shows that the ‘need to save' message is still not getting through to the British working population.
Over 50s still saving into retirement
More than eight out of ten (83%) people over 50 say they are still saving for their retirement, according to The Savings Outlook Report from Alliance & Leicester Savings.
Co-operative Bank retail savings balances increase 40%
The Co-operative Bank has revealed that its retail savings balances grew by 40 per cent over 12 months as consumers look for trustworthy places to put their money.
Over 55s take measures to prepare for retirement
The over 55s are approaching retirement nervously, according to research from savings provider Birmingham Midshires. One in two Britons (49%) are concerned that they will not be able to maintain a comfortable lifestyle with the retirement fund they have saved to date.
NS&I reduces interest rates on variable rate savings
NS&I (National Savings and Investments) is reducing the interest rates on its variable rate savings offers by up to 1.50% per annum following the movement in the Bank of England base rate by 1.50%. The rates on NS&I's fixed-rate savings will remain unchanged.
Financially stretched over 25s still getting pocket money
More than a quarter of parents with children over 25 are helping them financially, with 31% of those parents still handing out ‘pocket money', according to Engage Mutual.
Christmas comes early for ASDA customers
More than a quarter of a million ASDA Christmas Savings Card holders woke up this morning to a bonus of £1 million to help them make the most of this Christmas. The bonus is reward for the savvy shoppers who have decided to spread the cost of Christmas.
24 savings providers cut rates
Following the announcement of an unprecedented 1.5% interest rate cut by the Bank of England, uSwitch.com reveals that 24 savings account providers have already cut rates.
FSCS pays out £0.25bn to Icesave customers
UK customers of Icesave are starting to get their money back after the Financial Services Compensation Scheme (FSCS) began making payments this week. By the end of Friday (14 November 2008) we had initiated payments to the value of some £0.25bn to UK Icesave customers.
10 ways to survive the recession with a credit union
As the recession starts to bite, many of us will be wondering how we're going to make ends meet in the run up to Christmas. ABCUL - the Association of British Credit Unions - has put together its Top Ten Tips for how a credit union can help you through these tough times.
Savings fail to rocket but show sparkle of hope for future
Nationwide Building Society's latest savings research shows that although only a quarter of consumers think they currently save enough, just over half (52%) think that they will be saving the right amount in six months time.
Brits resist the urge to raid existing savings
The amount Britons added to their savings accounts slowed in the last three months, down 34 per cent, from £516 in the three months to July 2008 to £339 in the three months to October 2008;
Stop being in denial about your finances urges psychologist
More than one in three people admit to having misled a partner, friend or relation about the state of their finances, and the global downturn could be encouraging more and more of us to be ‘economical' with the truth about money, according to research from AXA.
Nearly 5 million men save money by staying single
The key to surviving the Credit Crunch could be to stay single as nearly half of all Britain's single men admit that the key to saving money is staying relationship-free, whilst a staggering 90% said they'd avoid romantic commitments altogether because of the downturn - that's according to research from Skipton Building Society.