The most popular reasons the 2,000 people surveyed gave for keeping cash at home include being able to s ee it, using it for everyday spending, and convenience. Many are unhappy with the interest they were making on other savings and a whopping 17 per cent said their savings were generating no interest at all.
Piggy banks are a great starting point for children learning the basics of saving money, but there is a clear opportunity for adults to gather their stockpiles together and make their money work harder for them. Whether it is under the mattress, in a bottle, or in a sock drawer, that money could be contributing towards your savings goals.
With interest rates so poor people just do not know where to turn to invest their hard earned cash and give them some sort of genuine return. This is where I can help! If you wish to see your money begin to give you an income of 5% per annum, I have a robust genuine safe investment available from a highly reputable multinational insurance organisation that will give you that.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
On Thursday the Bank of England (BOE) rate committee met to discuss interest rates, and, even though inflation is growing, yet again they have decided to leave the base rate at 0.25%. They obviously feel this is the best option as they assess the extent of any consumer slowdown and while they continue to play the waiting game regarding how the EU Brexit divorce negotiations pan out. The BOE seems to be playing a deliberate wait and see game, and with economic news continuing to be negative in the last few weeks, it now seems likely that the base rate could stay at this level until at least 2019.
It’s a sad reality that almost every time a pension story breaks in the press, particularly when they’re regarding UK pensions, it’s rarely good news.