February 26, 2009
Brits need to think more about saving
Story link: Brits need to think more about saving
The recession is and will continue to put the strain on individual finances throughout the UK, throughout 2009.
That being said, and even though people are saving, there are definitely not enough people putting some cash away for a rainy day. Lets face it though, the interest rates offered by the banks are hardly an incentive are they!?
Brits need to think more about saving
Saga has conducted a survey which reveals that Brits may not be giving their savings enough thought as the recession continues.
The savings account provider found that 38 per cent of over-50s say they haven’t changed their spending habits since the onset of the credit crunch, but as over a third of them have an ongoing savings pot they may be well-placed to weather the financial storm.
New drive for savers
Story link: New drive for savers
As mentioned before, I am definitely with agreement with Abbey Savings here, as I believe the recession has increased the awareness and highlighted the importance of saving and stabilising finances for the future, just in case things get worse.
Abbey Savings has claimed that the recession has given rise to “a new age of thrift” as people cut back on their outgoings in order to save more money.
The bank conducted a study which found that Brits have made an average saving of £3,168 by cutting down on their living expenses in the past year.
Nationwide launches new range of bonds
Story link: Nationwide launches new range of bonds
Savers now have something to be happy about, especially if they are saving over at Nationwide.
The UK building society, the largest in the UK for that matter, will be offering its loyal customers a fixed rate, four year deal, based on a rate of 3.75 percent per annum, very reasonable considering the current low interest rates at the Bank of England.
Nationwide launches new range of bonds
Nationwide, the UK’s largest building society, has announced the launch of a new range of bonds for savers.
The new offerings are all fixed-rate bonds and include a four-year fixed-rate bond, paying up to 3.75 per cent annual interest.
National Savings and Investments to reduce rates
Story link: National Savings and Investments to reduce rates
Savers will be hit hard, again, by the latest news from National Savings and Investments (NS&I), who have announced that they will be chopping a full 1.35 percent from the current savings rates.
There now seems like little or no point for savers to be storing their cash in banks, with little or no return on their investment!
National Savings and Investments to reduce rates
National Savings and Investments (NS&I) has announced that it will reduce the rates of interest it offers on its fixed-rate savings accounts by up to 1.35 per cent.
The savings account provider blamed the reductions on the fall in value of gilt-edged government bonds, which are known as gilts for short.
Newcastle Financial Services wins award
Story link: Newcastle Financial Services wins award
Newcastle Financial Services have been provided excellent services to their customers, something which has finally paid off for their company.
The team over at Newcastle Financial Services has managed to be nominated and actually win the award at the annual industry conference, a great achievement for any financial institution
Newcastle Financial Services wins award
Newcastle Financial Services has been announced as the winner of an award at an annual industry conference.
The building society picked up the top large practice for investment sales accolade at the annual Openwork meet in Birmingham for its Investment and Portfolio ISAs.
New bonds on the market
Story link: New bonds on the market
Both Alliance & Leicester and Abbey have recently announced their launch of new bonds. The new bonds will be offering a fixed rate of interest, which of course means they will not be affected by the fluctuations in the Bank of England rate changes which seem to be happening on almost a weekly basis.
Alliance & Leicester and Abbey have announced the launch of a new bond which offers a guaranteed fixed rate of interest.
The two-year bond offering will pay interest at a rate of 4.01 per cent a year on balances of between £30,000 and £200,000.
The future is bleak for UK finances
Story link: The future is bleak for UK finances
The consumer confidence that is currently present in the UK is at an all time low, with most UK citizens having little or no faith in the Government and their efforts to kickstart the economy.
So far things such as interest rate cuts have done nothing to alter the gloomy path that the UK financial industry is on.
The future is bleak for UK finances
A survey has revealed that the majority of Brits are gloomy about the financial outlook for 2009 and 2010.
The Nottingham, which conducted the poll, claims that 80 per cent of respondents predict that the credit crunch will last until the end of 2010, despite the fact the best efforts of the government and the Bank of England to reverse the shrinking of the economy.
Savings accounts will help Brits
Story link: Savings accounts will help Brits
The recent credit crunch has increased the awareness and importance of trying to build up cash reserves for troubled times, like now for instance.
Banks have seen a sudden increase in savings accounts over the last few weeks with more and more people trying to sustain their finances and even trying to make them more stable for the future.
Savings accounts will help Brits
A new survey has shown that many Brits have been opening savings accounts recently to help them cope with the financial difficulties they face during the credit crunch.
The poll, conducted by the Nottingham, revealed that 10 per cent of respondents had opened a new savings account “in recent weeks”.
Credit crunch means dipping into savings
Story link: Credit crunch means dipping into savings
Let’s face it, we don’t save for years on end never to spend the money, so there is no time like the present to get those savings out to keep your finances afloat.
Around 50% of UK savers have withdrawn some of their savings, with around 18% of people saying they have used up to 10% already!
Credit crunch means dipping into savings
A survey has found that nearly half of Brits have withdrawn money from their savings accounts to help them make up the shortfalls in their income during the credit crunch.
Fairinvestment.co.uk, which conducted the study, found that 18 per cent of the people it polled have already used up ten per cent of their savings since the credit crunch hit.
February 23, 2009
Hot summer for police…and banks
Story link: Hot summer for police…and banks
I would hope and think that the description of what could be this summer is an extreme exageration.
Banks probably deserve some kind of stand, but there is definitely no need for violence and of course the police have a lot of important matters to attend to, without uneccessary violence on their hands as well.
Hot summer for police…and banks
Police are preparing for a “summer of rage” as victims of the economic downturn take to the streets to demonstrate against financial institutions, the Guardian has learned.
Britain’s most senior police officer with responsibility for public order raised the spectre of a return of the riots of the 1980s, with people who have lost their jobs, homes or savings becoming “footsoldiers” in a wave of potentially violent mass protests.