Finance News » Savings

ISA Savings: Incentives for Helping the Poor

A. Valesco — Sun, 18 Dec 2011 13:00:48 +0000

The government has announced that savers will be rewarded with money to contribute towards an Individual Savings Account if they invest in initiatives targeted at helping disadvantaged youth. The money can be used towards regular or Junior ISAs, which are the government’s new children’s savings scheme that allows up to £3,600 of yearly tax-free contribution. [...]

Savings: Children’s Tax Allowance Means Efficient Savings

A. Valesco — Fri, 09 Dec 2011 17:00:38 +0000

Planning for a child’s future is becoming increasingly important for parents, especially considering next fall’s tuition hike that means some children will be paying £9,000 per year for higher education. Rather than graduating with debt, parents can use tax-efficient savings methods, such as Child Tax Exempt Savings Plans (CTESPs) or Junior ISAs. New launch This [...]

Fuel Prices: How To Find Cheap Petrol And Diesel

Rajan Chagger — Mon, 05 Dec 2011 09:00:39 +0000

With the signs that fuel taxes will be rising in 2012, many drivers will be wondering how they will cope and keep their costs down in this tough economic climate. Over the last two decades fuel costs have already increased steeply, and it has been revealed that the government is looking to increase fuel duty by 3p a litre from next August.

Savings: Calls for ISA Limits to Double

A. Valesco — Mon, 28 Nov 2011 13:00:20 +0000

Nationwide Building Society, the largest building society in Britain, has called for the government to double the limit of cash Individual Savings Accounts, or ISAs. The lift would mean £10,680 could be saved in tax-free each each year instead of the current £5,340. Savings drought The building society claims that lifting the limits on what [...]

Savings: Santander Pays Interest Upfront

A. Valesco — Fri, 18 Nov 2011 13:00:04 +0000

Spanish bank Santander has released a ‘revolutionary’ new savings bond that pays interest upfront, but experts warn savers to approach the product with caution. Quick cash The new product from Santander offers savers the ability to collect a 3.36 percent return on their money before waiting the full 3 years for their savings bond to [...]

Savings: Junior ISA Could Help Early Loan Repayment

A. Valesco — Mon, 07 Nov 2011 13:00:24 +0000

A government White Paper has announced the possible scrapping of plans to penalise students for paying off their loans early. This means that graduates with the proper savings or help from their parents could be able to avoid incurring interest on their university loans. This is an important victory for student advocates and those wishing [...]

Savings: Fixed-Rate Bonds Plunge 40%

A. Valesco — Sun, 06 Nov 2011 17:00:59 +0000

Figures from This is Money state that savers with fixed-rate bonds set to mature this autumn will face a drop in income of up to 40%. The drop is set to affect any savers coming off a two, three, four, or five year fixed rate deal that matures this month. It is the peak month [...]

Debt: Uni Students Face £53,400 More Loans

A. Valesco — Wed, 26 Oct 2011 13:00:16 +0000

Students currently studying at UK universities are said to have an average debt of around £60,000 a year to cover the cost of tuition, fees, books and accommodation. Many are unable to find jobs that allow them to study, meaning that grocery shopping is also done on borrowed money. The increase in tuition to £9,000 [...]

Savings: Tuition Hikes Make Brits Adopt the US ‘College Fund’

A. Valesco — Tue, 25 Oct 2011 09:00:04 +0000

Higher levels of tuition fees are kicking in, and with them come predictions that universities will see a significant drop in applicants. However, there are quite a few children’s savings products on the market today that maximise tax-efficiency and could lead UK parents to adopt the US’s idea of the ‘college fund.’ £9,000 a year [...]

Savings: Children Also Pinched by Inflation

A. Valesco — Mon, 24 Oct 2011 17:00:50 +0000

A recent study by Santander revealed that even children are feeling the pinch of inflation, with nearly half of children between the ages of 10 and 16 having their pocket money significantly reduced. With spending down throughout the country, it seems only natural that children also have smaller amounts of spending money as their parents [...]

Savings: Providers Gear Up For Junior ISA Launch

A. Valesco — Sat, 22 Oct 2011 09:00:21 +0000

The Junior ISA, an individual savings account designed for children’s savings, is set to be launched this November. Providers throughout the UK, such as Shepherds Friendly, have announced their intentions to provide the new children’s savings product. Most have added the product to their websites, allowing online visitors to register before the official release of [...]

Savings: Eurozone Increases Production

Rachael Bellis — Thu, 13 Oct 2011 12:00:52 +0000

The eurozone has seen a surprise increase in industrial production, which increased by 1.2% in August it was revealed. The statistics office for the EU, Eurostat, said that this number meant only a 5.3% increase for the entire year. This news could mean worries that the eurozone could head back into recession are eased.

Saving: Economy On the Edge

Rachael Bellis — Wed, 12 Oct 2011 12:00:40 +0000

In a report from the British Chambers of Commerce (BCC), the UK economy has deteriorated in the third quarter and shown signs of stagnation. Cash flow is a concern for the 6,700 businesses surveyed in the report.

Savings: IMF Warns on Cuts

Rachael Bellis — Fri, 07 Oct 2011 10:00:40 +0000

The IMF has warned that the stronger economies in Europe should avoid drastic budget cuts that cost the country in growth. Cuts should be delayed if situations get worse in the UK, Germany, or France, due to the “historically low” interest rates at which the countries can borrow. A recession in Europe for 2012 was [...]

Savings: No Temporary Tax Cuts

Rachael Bellis — Tue, 04 Oct 2011 10:00:48 +0000

Chancellor George Osborne has said that there will be no temporary tax cuts, saying that the government will cut taxes when it can afford to cut them. Speaking at the Conservative conference, Mr. Osborne said he was “a fan of tax cuts” but “permanent tax cuts”.

Savings: Minimum Wage Increases

Rachael Bellis — Mon, 03 Oct 2011 09:00:15 +0000

As of Saturday, the minimum wage has increased, with the main rate rising to £6.08 per hour, an increase by 15p. This is the minimum wage for adults aged 21 or older. For those adults aged 18-20, on the “development rate”, the increase is 6p to £4.98 per hour. The hourly rate for 16 and 17 year olds went up by 4p to £3.68 per hour and the hourly apprentice rate has increased to £2.60 from £2.50.