According to a parenting and relationship specialist young people in England, Wales and Scotland should learn how to save money, in a step to help them learn the value of money.Helping children learn and understand how to save money themselves is a great way for them to learn. By letting them contribute to purchases made by the family for items such as toys or treats, it can demonstrate how to handle money and learn the responsibility that goes with it. In today’s society it is becoming more difficult to manage money as most purchases are made with a debt or credit card. But children need to see real money transactions being made and the importance of dealing in cash transactions.Savings accounts can be a great way for young people to learn about how to save their money. There are many types of savings accounts that children can open, so that they can experience how to save and how it all works. See our savings accounts comparison table for more information or our guides and tips pages.
Lloyds TSB will be striving to reunite around GBP69 million with its owners, spread over 120,000 savings accounts that are laying dormant.
The bank will be working on accounts with more than GBP100 in them and will be using a specialist search company to locate the account holders and reacquaint them with their funds. The average amount per person will be in the region of GBP575 so it is a very worthwhile exercise and one that the recipients of the money are sure to appreciate said a Lloyds TSB spokesman.
These accounts appear to have been forgotten by their owners, hence the use of the search company. Lloyds TSB would not mind account holders getting in touch with them directly though, so if you think you have a dormant Lloyds TSB savings account get in touch with them and see if there is a windfall waiting for you.
A new Natwest Bank savings account has been launched that is designed for first time buyers looking to put money away for a house deposit.
Called the First Home Saver Account this new Natwest Bank account gives a massive GBP5,000 cashback upon completing a Natwest Bank mortgage. The proviso is that the customer must have had the account and kept at least the minimum balance in each specified tier for six months.
The account pays interest up to 3.1 percent AER and needs just GBP100 to open. Of course it is the cashback offer that will be the biggest draw for potential Natwest Bank savings account customers since it is a large sum of money, especially for first time buyers.
Find the best rates on Natwest Bank Savings Accounts.