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.
According to a study carried out by the Abbey National recently a number of UK people are dipping into their savings in order to pay their ongoing bills.
The Abbey National was looking specifically at money held in ISAs and, having seen around GBP6 billion taken out of them asked customers what the money had been used for. Just over 30 percent of people said it was to cover day to day expenses, the most popular answer provided.
Although it can seem easy to use savings to cover costs the issue comes a little later said an Abbey National spokesman. If a cash ISA had the maximum put into it then any withdrawals cannot be made up later, leaving the account holder with a reduced return through interest.
A new capital account has been launched by Zurich Insurance, called the Green Guaranteed Account. It offers returns based on stock market investments into green businesses.
The RBS Green Index lists only those organisations operating in the environmentally friendly categories, such as biotechnology, solar power, wind and water power etc. Investors in the Zurich Insurance account will have their capital protected whilst being in line for 100 percent of growth enjoyed within the sector.
A spokesman from Zurich Insurance felt this Green Guaranteed Account was ideal for investors who wanted to support the environment whilst earning a return on their investment.
