Saving at fixed rate

Story link: Saving at fixed rate

A large amount of places offering saving deals over the last few weeks have had a good deals to offer consumers, mainly due to the fact that the Bank of England slashed the based rate meaning banks could pass on their savings.
It is definitely worth shopping around for the deals on comparison sites and the [...]

Savers suffer as usual

Story link: Savers suffer as usual

Lets be honest, what ever money finds its way into the financial system in the UK, will eventually be drawn back out again, with interest, at the cost of the tax payer.
Savers are the biggest victim in the whole scheme of things, as either way, good or bad, they always receive the worst deals and [...]

Safe saving is good

Story link: Safe saving is good

The way the economy is, you would think that the public did not actually have any money, but infact it is completely the opposite. Consumers are now choosing to save their spare cash for safe keeping in savings accounts, rather than spending it as soon as they get it.

Safe saving is good

British consumers are [...]

Inflation at 3%

Story link: Inflation at 3%

December 2008 saw Consumer price inflation dip to just 3.1%, and January was much the same, with Consumer price inflation continuing to fall, now standing at just 3%.

Inflation at 3%

Consumer price inflation (CPI) fell in January to an annual rate of 3%, down from 3.1% in December, official figures have shown.
The modest decline is [...]

Egg to increase rates by up to 7%

Story link: Egg to increase rates by up to 7%

This will put the current rate of 16.9% to a stupidly high 23.9%. Will consumers seriously loan money based on this ridiculously high rate!
The rates offered by Egg are almost criminal!
Egg to increase rates by up to 7%
Credit card provider Egg could increase rates by 7% next month, affecting 500,000 Egg Visa and Money MasterCard [...]

Standard Life Pension Compensation

Story link: Standard Life Pension Compensation

It is good to see that the Standard Life pension scheme can be trusted, as they have agreed to credit around 97,000 customers that lost money in a 5% pension fund that didn’t deliver, even though the company ensured they were safe.
Standard Life Pension Compensation
Standard Life has agreed to compensate 97,000 customers who lost almost [...]

50% of accounts pay less than 1%

Story link: 50% of accounts pay less than 1%

According to statistics, around 50% of all UK based savings accounts are now offering a ridiculously low return on investment of 1%.
The worst is yet to come, as the banks and the UK Government are already in talks regarding the possibility of further rate cuts throughout the year, with the possibility of a cut to [...]

Where now for savers?

Story link: Where now for savers?

Personally, I think savers should be looking for an alternative option and take their cash out of banks. Of course, if this were to happen then the whole financial system would collapse completely!
Banks need to provide more incentives for savers to save rather than spend, but on the other hand, the economy needs us to [...]

Savers wait for more rate cuts

Story link: Savers wait for more rate cuts

 
Savers have officially been damaged by the recession, with four rate cuts since October, leaving them to gain a 1% return on their money in most places, if not less.
 
The next press release savers will not want to see, will be one stating that the rates are dropping even further!
 

Savers wait for more rate cuts
 

With [...]