
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.

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.

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

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 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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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

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
The top career choices for 5-7 year olds now need 3rd-level education. Top 3 choices are teacher, doctor and vet. These will cost over £100,000 to fund, and 93% of parents will carry that cost. Saving for kids is essential, and needs careful forward planning. Read full lists of kids favourite careers by clicking on headline above.

A leading government think tank is proposing pension savings that are not ‘locked away’, perhaps by combining pension savings and ISAs, which could then be left to your children free of tax. Click on headline to read more.
Children’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?
















