Although we are always told that saving should be one of the first things we do the latest survey results from the Nationwide Building Society show that only a quarter of us are ranking it highly.
The main reason for this at the moment has to be the cost of living, which is changing the focus of the population towards covering the rising costs of bills rather than saving. This is supported by an aspect of the Nationwide Building Society study that showed how over 60 percent of people felt they were not saving enough.
In real terms this is the time when people should save even harder than usual. Looking at an uncertain future consumers really need to be building up a resource they can call upon should they face unexpected costs. The Nationwide Building Society, along with most other financial institutions, suggests having enough cash to manage for around three months.
According to the Legal and General MoneyMood survey, the people of the UK are changing their habits regarding saving.
Compared with this time last year there are around 6 percent more people saving money now. It appears that consumers are, generally, not spending as much of their money as they once were, preferring instead to build up a buffer should they need the cash for more important things in the future. People are still going out and spending their money, just not quite as much as they used to be.
As a Legal and General savings spokeswoman said, it is good that consumers are managing to change their habits, ensuring they have some money put to one side whilst still being able to enjoy themselves.
Alliance and Leicester fixed rate bonds have enjoyed some interest rate changes, with the one year fixed rate product going up from 6.5 percent to 6.65 percent AER.
All the fixed rate bonds provided by Alliance and Leicester will payout on a monthly basis should that be preferable to the customer, with the balance invested needing to be between GBP2,500 and GBP2 million to be eligible for monthly payments. The minimum amount needed to invest in one of these bonds is GBP1,000.
The benefit of fixed rate bonds is the security of the capital invested as well as there being a set, guaranteed, return said an Alliance and Leicester spokesman. This means customers know exactly what they will receive back from their investment, enabling them to plan more effectively.
