Saving
Social lending - better for borrowers and savers
The concept of social lending is not especially new, yet it's not something many of us know much about. So if you've lost faith in the banks and their underhand ways then you need to sit up and pay attention. Online 'financial exchanges' like Zopa and Yes-Secure offer a real alternative for both borrowers and savers. What's more the rates of interest on these sites are consistently better than those offered by the banks.
Avoid the pension pitfalls: Retirement experts' top 10 tips
Filed under: Saving, Investing, Retirement
The halcyon days of golden-plated final salary pension schemes for all are long gone, and with annuity rates at record lows and life expectancy increasing every year, planning for retirement has never been more important. Perhaps we are getting wiser as well as older, though. More than a third of all searches for an independent financial adviser on unbiased.co.uk relate to personal retirement planning. Here, we air the views of some of its most sought-after pensions boffins.
Banking complaints reforms "too limited"
Filed under: Credit Cards, Mortgages, Saving
Many of Britain's biggest banks receive more than 1,500 complaints a day from angry customers, we now know thanks to new rules forcing them to publish this data.
However, pressure group Consumer Focus argues that the rules are "too limited" because they do not require the banks to break the figures down by product type, or to reveal how long they take to deal with complaints. Here, we examine whether the reforms go far enough to really help consumers and find out which banks get the most complaints.
Savings dip as debt repayment rises
Filed under: Saving
Savings levels plunged during the second quarter of the year as consumers focused on paying off their debts, research has indicated.Britons collectively repaid £1.04 billion of unsecured debt during the three months to the end of June, according to professional advice website unbiased.co.uk.
Finally...some good news for savers
Filed under: Saving
The headlines have been full of depressing reports about banks and the miserably low interest rates they are offering savers since the credit crunch sent the Bank of England base rate tumbling to 0.5%. Now, however, it does seem that things are finally starting to look a little brighter for savers. The last week has seen the launch of a few new accounts that really are offering some half decent rates of return.
Can British Gas solar panels save you £1,000 a year?
Filed under: Saving, House and Home
Now, however, British Gas has become the latest in a bunch of companies to take advantage of a new government scheme that allows you to install solar panels on the roof of your home. And the company claims it could save you as much as £1,000 a year.
Keep your savings from the taxman
Tax can decimate your savings returns – in some cases halving them - so it is worth taking steps to protect your nest egg from the taxman by using tax-efficient vehicles such as Individual Savings Accounts (ISAs) and pension funds.
Here, we look at the impact tax can have on your returns, and offer advice on the best ways to avoid it.
1 in 3 over 40 don't know partner's finances
Filed under: Saving, Retirement
Many couples risk spending their 'golden years' in poverty because they never discuss their financial planning for retirement.A study from Prudential found that nearly a third of couples aged 40 and above but not yet retired say they don't know or understand the details of their partner's retirement savings, with more than a fifth saying they have never talked to their spouse about their retirement planning.
Just one in ten pay cheapest energy prices
Filed under: Saving, Budgeting & Planning
Just one in ten households are paying the cheapest energy prices on the market, leaving 87% paying over the odds for their energy, says uSwitch.com, the price comparison and switching service. Although 1 million more homes are now on online plans - where suppliers usually offer their most competitive prices - this still only adds up to around 3.5 million or 13% of households in total.
Britain's best and worst banks revealed
Filed under: Credit Cards, Mortgages, Saving
Customer service just isn't one of those things we expect from our banks. Being endlessly flogged products we don't need, being told no-one can help because that's not how the system works, spending 45 minutes in the queue because someone is paying in coppers - those are the sorts of things we are familiar with.And a new survey has provided the final nail in the coffin of the myth that there's any service available in a high street bank. So who are the worst offenders?
