Your Money

Savings Rates

Millennials saving more than Generation X

15 April 2016

Savings Rates

Millennials are more financially responsible than they’re given credit for saving more of their monthly income than Generation X. A study by Zopa shows that ‘millennials’ aged 18-35 are saving 10.9 per cent of their monthly income compared with their elder counterparts in ‘generation X’ aged 36-54 and who are saving 8.8 per cent. However […]

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Lifetime ISAs will force young people to work ’til they drop, says ex-pensions minister

18 March 2016

Pensions Retirement Retirement Planning Savings Rates

The new ‘lifetime ISA’ could force young people to work until they drop, the former pensions minister has warned.   Steve Webb, who was pensions minister under the Conservative-Lib Dem coalition but now works for insurer Royal London, has criticised lifetime ISAs, which were announced in the Budget this week   Lifetime ISAs, which some […]

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Long-term cash savings now worth less than a decade ago

18 March 2016

Savings Rates

Britons are still hoarding their savings in cash despite £1,000 being worth less in real terms than it was 10 years ago.   At the beginning of March, was passed the seventh anniversary of historically low interest rates. The base rate has now sat at 0.5% since March 2009, when the Bank of England pushed […]

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“The UK’s seven year income famine”

17 March 2016

Investing Investing for income / growth Savings Rates

Maike Currie, investment director for personal investing at Fidelity International, looks at the impact of seven years of interest rates being stuck at 0.5%… With recent manufacturing and construction sector data disappointing and reports that the service sector is faltering, there’s little doubt that the UK economy is slowing. Accordingly, there have been suggestions that […]

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More than a third of Britons under 35 have no savings at all

17 March 2016

Debt Monetary Trends Savings Savings Rates Your Money

More than a quarter of Britons have no savings whatsoever, with this rising to 37% for those aged 18-34, according to research from Sunlife. The study, which looked at the savings habits of 3,388 households, also found that the majority of 18-34s with no savings, said it is because they do not have any spare […]

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