With British savers losing an average of £551 million last year by not fixing the interest rate on their savings account, is it time for more people to consider the merits of moving away from instant-access products in favour of other options?
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With new figures from the Centre for Economics and Business Research (Cebr) revealing this month (January) that the UK's economy has already slipped back into a recession, financial matters are likely to be at the forefront of many consumers' minds.
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A recent YouGov survey conducted in conjunction with National Savings and Investments (NS&I) revealed that less than one-third of respondents have confidence in pensions as the best savings vehicle for old age.
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With the festive season just around the corner, many people in the UK may be wondering just how they are going to afford to pay for all the food, gifts and other expenses that Christmas brings. There are several options for consumers to consider.
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At the beginning of October, the Bank of England's Monetary Policy Committee (MPC) decided to hold the base rate of interest at 0.5 per cent for the 32nd consecutive month, with concerns over the UK's economic recovery and high inflation driving the decision. So, what does this mean for savers?
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With the UK base rate of interest predicted to stay at its record low for some time to come, savers need to make sure that they are doing all they can to maximise the returns from their money. However, research released earlier this month by first direct found that over one-third (36.9 per cent) of people with a savings account do not know how much interest they receive on their hard-earned cash.
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If you decide to manage your money with an international financial services provider, you will be able to make all the necessary arrangements before you leave the UK – and any documents you have to fill in will be in your own language.
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The decision of the Bank of England's Monetary Policy Committee (MPC) to hold interest rates in the UK at 0.5 per cent for the 27th consecutive month in June has led to much discussion over when consumers can expect rates to rise.
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