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
A recent Legal and General survey has shown that the Welsh are the most likely to have money left at the end of the month after covering bills and essential payments.
Two thirds of people in Wales had money left over, compared with a national average of 53 percent and a surprising 43 percent in London. These findings really turn the general understanding of where the money is on its head. Although the cost of living in London is high it has always been thought that wages covered this difference with some to spare, but perhaps not.
A Legal and General spokesman felt the findings should prompt consumers to start putting some money aside into a savings account or something similar. Having disposable income does not mean it has to be spent straight away, saving some can make a massive difference to the future.
The Alliance and Leicester has just made available two new savings options for those aged 50 and over.
The first one is the Premier 50 fixed Rate Bond and gives a return of 7.5 percent per annum. Suitable for investments between GBP1,000 and GBP10,000 this particular Alliance and Leicester bond matures at the end of September next year so interested parties are advised to act promptly.
The second option is a longer term one, being a 5 year Growth and Income Account which offers an interest rate of 7 percent on half the amount invested with the other half receiving 50 percent of the growth achieved on the FTSE 100 over the term. This Alliance and Leicester account needs a minimum investment of GBP3,600 and as such can also be used as a cash ISA.
