9 out of 10 Brits believe it is important to save according to a study carried out by the Nationwide Building Society.
Although it is good to see so many people recognising the importance of having a fund of money to call upon should it be needed only around 55 percent of people actually put money aside on a regular basis. Approximately 25 percent of people save money occasionally whilst almost 20 percent do not have savings at all.
This situation is not through choice in many instances though,as a Nationwide Building Society spokesman explained. With the cost of simply paying bills, buying food and running a car stampeding ever higher it becomes financially impossible for many people to save regularly, if at all. This is a shame since some of the best savings rates for many years are now available to customers.
See how Nationwide Building Society savings accounts compare at Moneygossip.co.uk
The decision by Gordon Brown to review the state of social care in order to make them more affordable and fairer for everyone has been welcomed by Saga Insurance.
The insurer has asked for steps to be taken as quickly as possible to help those who need it but also advises people to take independent financial advice in the meantime to ensure they make the best decision. Saga Insurance research shows that the typical cost of a 4 year care home stay is expected to almost double in the next twenty years, from GBP112,000 to GBP223,000.
A Saga Insurance spokesman said that it was vital to get professional financial advice since it could help inheritances be protected rather than seeing it all eaten up in care fees as is currently the case.
More information about Saga Insurance can be found within Moneygossip.co.uk.
Egg, best known for the Egg credit card has just introduced a new bond that is linked to the FTSE100 performance over the next 3 years.
Called the FTSE 26 percent guaranteed equity bond, Egg card customers who invest in it will enjoy FTSE 100 index gains made over and above the starting level of the bond up to a maximum of 26 percent. Should the index finish lower than the starting point of the investment then customers are guaranteed the whole of their capital invested back.
An Egg card spokesman suggested the investment bond would suit customers who are naturally cautious but would like the chance to earn a higher return than that offered by simple deposit accounts.