Savings News
Savings dwindle as public spending freeze takes hold
Friday, November 12th, 2010 by Roisin McDaid
The average person had just £1,771 in savings this summer, according to the new ING Consumer Savings Monitor. This is the equivalent to 40 days of pay at a time when it takes on average 6 months to find a new job after redundancy.
Children’s Savings boost: Government plans Junior ISA for under-18s
Thursday, October 28th, 2010 by John Doherty
Government has announced a new Junior ISA for children’s savings, to be launched in Autumn 2011. Coming in cash and stocks & shares versions, Junior ISAs will be tax-free savings accounts that parents and family friends can use to save for a child. Read More
Saving for children – Treasury proposes new tax-free account
Monday, October 4th, 2010 by Roisin McDaid
A new tax-free account for saving for children has been proposed by the Treasury. The account is remarkably similar to the recently-axed Child Trust Fund Scheme, with the notable difference that there would be no Government contributions to replace the £250 voucher in the Child Trust Fund. Read More
Savers must bear ISAs in mind as tax and inflation bite into savings accounts
Wednesday, September 15th, 2010 by Roisin McDaid
Savers are failing to factor in tax and inflation, when comparing bank savings accounts. Their cash is losing value, in real terms, as a result.
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ISA savers have little joy on monthly income
Wednesday, July 28th, 2010 by Roisin McDaidISA savers seeking a monthly income from their ISA savings have only a small number of products to choose from. Banks are under fire to extend the product range of cash ISA accounts with a monthly income option.
Bank savings protection rises to over £80,000
Monday, July 19th, 2010 by Roisin McDaid
The EU is to raise bank savings protection for UK savers from £50,000 to at least £80,000. This will guarantee the UK bank deposits of 98% of all savers in the nation Read More
Children’s Savings – Children’s Mutual suspends 3 key products
Monday, July 5th, 2010 by Roisin McDaid
The Children’s Mutual, one of the leading UK providers of Child Trust Funds (CTFs), has suspended 3 of its children’s savings products, pending a strategy review. Government had already announced it will scrap the Child Trust Fund scheme by the end of 2010. Read More
Financial Planning – Cost of a child tops £200,000 for first time
Thursday, May 27th, 2010 by Roisin McDaidThe cost of raising a child from birth to age 21 has topped £200,000 for the first time, according to the annual Cost of a Child survey by insurer LV=. With good financial planning, you can spread the burden of two decades with your little bundles of joy.
Children’s Savings – What options after the Child Trust Fund?
Wednesday, May 26th, 2010 by Roisin McDaidChildren’s savings have taken a blow this week, with the announced abolition of the Child Trust Fund scheme (CTF) due to government cuts. What are the other options for children’s savings?
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