Savings News
Inflation eroding savings
Michelle Slade, analyst at Moneyfacts.co.uk, comments: "With latest figures showing that UK inflation has jumped to 4.4%, more than double the Government's 2% target, many consumers may not realise what a negative effect this is having on their savings.
Single mums plan ‘a life less ordinary’ for children
Almost eight in ten (77%) single mums who are unable to gain credit are more concerned with saving money for their children’s future than getting out of debt themselves (28%) according to new research from BrightHouse Stores.
A fifth of consumers do not save
In July, just a third (33%) of consumers thought that saving was very important, according to research by the Nationwide Building Society. Although a little higher than last month, this is significantly below the results seen in April and May where nearly half (46% and 49% respectively) of consumers thought saving was very important.
One year on from the crunch savers 0.6% better off
One year on from the unofficial birthday of the "credit crunch", 9 August, analysis of the savings market by cahoot has discovered that rates offered on savings accounts have increased by a substantial 0.6 per cent across the market.
Unique return on savings guaranteed to beat rising inflation
Leeds Building Society has launched new versions of its Inflation Buster ISA and Bond, which have proved very popular with customers looking for a real return on their savings.
Halifax offer lifeline to first time buyers
Leading housebuilder, Persimmon Homes, and the UK's largest mortgage lender, Halifax, have teamed up to offer first time buyers a helping hand with a brand new initiative.
Alliance & Leicester launches double savings offering for over 50s
Alliance & Leicester launches two new savings products specifically designed for the over 50s. The first, the new Premier 50 Fixed Rate Bond, pays 7.50% gross pa/AER and is available for a limited time only.
HSBC UK staff gain £30 million from Sharesave schemes
Over 16,000 HSBC members of staff exercised their maturing Sharesave (SAYE) plans, and stand to make over £30 million in capital gains based on a market price of £8.37.
Going the distance
When it comes to assessing their health and wealth, Brits are working out their wallets more than their bodies.
Gold takes silver in price performance Olympics
With just 8 days to go, athletes at this summers' Olympiad in Beijing will be aiming for gold but investors could be better off with silver, according to research by Skipton Building Society.
Parents hope kids choose life skills over money
Almost nine in ten parents (86%) hope that their children will become well rounded individuals who are motivated by more than just money; and place importance on education as an enabler (84%), according to new research from Skandia, the long-term investment provider.
Record half year savings for societies
Building societies' excellent performance in the savings market for the first half of 2008 saw them achieving record savings inflows of £6,296 million compared to just £3,862 million in the first six months of 2007.
Are rate guarantees worth the paper they are written on?
Joanna O'Brien, savings analyst at Moneyfacts.co.uk, comments: "As institutions continue to try and out do each other in what has become a very competitive savings market in recent months, investors need to make sure they read the small print carefully.
Savers could sprint to more than £2,500 by London 2012
With the Beijing Olympics just over a week away (8th to 24th August) sportsmen and women around the world will no doubt be looking forward to reaping the benefits of their disciplined training schedules.
52 days to financial disaster
The majority of Britons are living on a financial tightrope with the average person having savings that would only last 52 days if they were unable to work, according to research from Yorkshire Building Society.