11
Apr/11

The Best Savings Rates

by admin under Fixed savings

We Know that savings rates can vary hugely between bank accounts. While one bank might pay an huge 9% interest rate, another one might pay less than 1.5%.

But as the person who puts your capital in those accounts, you deserve to get the best savings rates possible. Unfortunately no one is going to make sure you get the top rates you have to go out there yourself and find them.

You should’nt just accept terrible savings accounts. You could stick with the same accounts because you have had it for a while. But you need to be careful if you do this. Banks and building societies are quick to promote their new high interest savings accounts . But when new accounts are released and new savings rates are announced, the previous rates tend to dip down to a lower rate of interest.

You may not be aware of this but the bank will always offer the best rates to new customers.

This means that you should never assume that your high savings rates will stay the best, Make sure that when the rates start to drop that you write to your provider for the best savings accounts Avoid losing interest by doing this as soon as your rates drop.

It is easy to find good savings accounts. You can either go on to online price comparison sites or jus pop into your local Bank to find the best up to date accounts

Above all remember that you are in charge of your savings and the building societies want your money so make sure you find the best rates. When rates are bad change them it may be the best thing you do this year!. One thing is certain if you follow our advice you are destined to always have the best savings rates make your savings work for you!

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4
Apr/11

Start Saving – The easy way..

by admin under Fixed savings

The holidays can really have us searching for a deeper meaning — one that tells how to make the dollars go further. There are easy ways to start saving money.

Start with the simple things. Eat out less, and stay home more often. Have your friends over for a movie night instead of going out on the town. Start a rotation. Have friends over to your house one weekend, and go to their’s the next weekend. This way you both save without having to sacrifice your social life.

There are many ways to save money shopping for your children. All it takes is a little research. You can often find clothing at a consignment or thrift store for half of the original cost. But be careful — you can often find the outfit new on sale for the same price. Once you have shopped around for a while, you’ll learn where to look.

Set up a clothing swap with your friends who have children. You can hand down clothes to a younger child who will then hand them, and others, back down to your younger child.

There are other areas that you can save money when it comes to your children. You may have noticed that children love to draw. Instead of sacrificing your new office paper, let them use your used office paper. Simply stick a box in your office that you toss paper into. I do this. My children know to just get paper from the box and get busy. You can even re-use paper grocery bags for a change of pace.

Babysitting costs can add up. Wouldn’t it be great to find a free babysitter? Try rotating sitting with your friends. We keep the kids on Friday night and our friends go out. On Saturday, we hit the town. Both couples get to enjoy a night out without the added expense of a babysitter.

Speaking of the weekends, don’t blow all that you have saved on the weekend. You have worked so hard all week, so it’s easy to think that you deserve a little fun. While that is true, there are ways to enjoy the town without spending a lot of money. For example, instead of going to the amusement park (which can cost a small fortune), go to a new park and ride bikes through the trails. Picnics, hikes and scavenger hunts cost little, but make lasting memories for your children.

One of the biggest ways that money is lost is through simple mismanagement. Credit cards do help make ends meet, but only temporarily. If you can’t pay off the balance at the end of each month, you are going to be in a world of hurt in the future. Interest charges and minimum payments can stretch out a small amount of money into a long, endless repayment period.

Overdrafting your account is another example of lost money that you could be saving. Even if you have overdraft protection, the fees will cost you in the long run. If you have a $25 overdraft fee, and overdraft four times a month, you will lose $1,200 a year. Was it really worth it? What could have been purchased with $1,200?

There are ways to save money that don’t take a lot of effort. It may seem like a little bit here and there is just useless. But it only takes 100 pennies to make a dollar.

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28
Mar/11

Simple Ways to Save Money

by admin under Fixed savings

Things are so expensive these days. We seem to be hearing, and saying, that a lot lately at the gas pump, in the grocery store and especially when paying bills. But there are simple ways to help save money without making sacrifices in your lifestyle. Small savings can turn into large rewards for little effort.

Start with the small things. Eat out less, stay home more often. Invite your friends over for a potluck supper and rent a movie. You are still able to enjoy entertainment at half the cost of going out to eat and then to the movie theatre. My friends and I rotate whose house we will go to every weekend. Giving the house a thorough company-coming-over cleaning is then limited to once a month.

There are many, many ways to save money when shopping for your children. Their clothing can be purchased at a consignment or thrift store for half of the original cost. Many clothing items may even still have their tags, especially baby clothes. Set up a clothing swap with your friends who also have children. You may find that they can hand down clothes to your child that will be eventually handed down to their even younger child.

All children like to draw; the evidence is displayed on refrigerators across the land. Have you noticed that your office paper has been quickly disappearing? This phenomenon of missing printer paper can become expensive. Recycle your office paper for artwork. Or even re-use the paper grocery bags, they’re free!

Babysitting costs can add up. But you have to get away every once in a while. Try rotating sitting with your friends. We keep the kids on Friday night while our friends go out. They keep our kids on Saturday night while we go out. It reduces the cost of our night out on the town.

Speaking of those weekend trips out, don’t go crazy! It can be so very easy to spend a lot of money on the weekends. You’ve worked hard all week, and now you deserve to have fun. While that may be all so true, you might not be thinking about your overall budget. Plan activities that don’t cost anything. For example, instead of spending the weekend at the local amusement park, go to a new park and ride bikes through the trails. Picnics, hikes and scavenger hunts cost very little, while they create wonderful memories for your family.

When it comes time to purchase new appliances, look for the energy saving appliances. When you have to run several loads of laundry a week, you want to use as little electricity as possible. On nice days, hang your wash outside instead of using the dryer. Not only will you save money, but it can be a nice escape from your daily routine. Look at all of your appliances, and see how you can save money by using them smartly. You can turn your refrigerator down in the cooler months. Insist that no one is to stand in front of the fridge with the door open for more than fifteen seconds. Electric bills can add up quickly, so eliminate the waste of electricity by turning off lights when you leave the room.

One of the biggest ways that money is lost is through mismanagement. Credit cards may help you make ends meet, but if you can’t pay the entire balance at the end of the month they will cost you money. Interest charges and minimum payments can stretch out a small amount of money into a long payment period. Every month, you are losing money to interest. Overdrafting your bank account is another example of lost money. Even though you have overdraft protection, it will cost you in the long run. If you are charged 25 every time you overdraft, and you overdraft four times a month, you have lost 1200 a year to fees. What could have been purchased with that money? What would that money be in twenty years if you had invested it wisely?

There are ways to save money. It may seem as though a little bit here and there isn’t worth the effort, but believe me – pennies can turn into mountains.

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21
Mar/11

Shop In Consignment Stores And Save Money

by admin under Fixed savings

Saving money while getting good quality is hard. It gets worse when the time comes to buy furniture or other relatively expensive items.

Of course, you could always just head to the thrift stores. Run by various charities, thrift stores offer used furniture of varying quality. Ive seen couches as low as 30, although most people probably wouldnt welcome that particular couch in their living room.

If you want to go a little higher quality, consignment stores can be the answer. They are more picky about what they accept, and many have discontinued merchandise from stores, not just used items.

My husband and I recently bought a couch from a consignment shop. We knew we couldnt afford much, and it was quickly apparent that even the low end new couches were out of the question. The very few we could consider price-wise we couldnt stand either in terms of appearance or comfort.

The couch we bought at the consignment shop is amazing. It was about 350 not cheap, certainly, but much less than just about any new couch. It is in beautiful condition, filled with down, and was more than 2000 brand new. We love how it looks in our home.

When you go to the consignment shop, be ready to ask if the price can go any lower. Our couch had been marked at about 470, but when we hedged, that being more than we wanted to spend, the salesperson went to the computer and discovered that the couch was due for another markdown. Saving 120 on a couch is certainly worth a few minutes. Thats about 25% off the price.

Even if youre looking to decorate with higher end items, consignment shops can have amazing deals. We had more fun looking at furniture that would fit beautifully in our dream house, whenever we may buy it.

You can find consignment shops for clothing as well. I particularly enjoy buying baby clothes from consignment shops. My daughters holiday dresses always come from consignment shops. Why pay 30-100 for a dress shell only wear once, and probably has to be dry cleaned if shes ever to wear it again, when there are beautiful dresses available for 5-15, and many of them have been worn once or never? Everyday clothes for babies are available as well, and are typically in much better condition than you find at the thrift stores.

You may hear grumbles from family members who arent struggling with money. My inlaws had a terrible time understanding why I would buy used clothing for my daughter when she was first born, until they took a good look at the quality I was finding and the relative prices. My mother-in-law has gone shopping with me now, and she was one of the most vocal opponents to her first grandchild having just about anything that had been used by another child. I enjoy telling people about my better finds, the new items with tags from the store still attached, the jeans in perfect condition even those who have plenty of money will be amazed at what you can find.

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14
Mar/11

Search for The Best Returns from savings accounts in England

by admin under Fixed savings

Search for The Best Returns from savings accounts in England

Many people do not know what a good rate is because they are out of touch with the savings industry. It is imperative you stay learn more about savings accounts to spot a good account and rate when you seen one.

The greater the amount you have to to make your first deposit the better the savings rate you will find, you can also find better savings rates by tying your money up for longer periods of time. If you want the amaxing savings rates in the UK you have to first decide how much you want then look through savings accounts and apply for the best account.

Savings insititutions are constantly changing their savings rates and savings products so the savings rate you find may not be available for a long time. This stengthens the fact that you need to spend a little time learning the savings world to ensure you uncover the best savings accounts for your capital and not get stuck with one that was just the best at the time and savings rates go up the month after.

A lot of the time the best savings rates will have certain conditions associated with the account For example you could see a high rate but find your funds are locked away for 1 – 5 years. You could also see that you may only access the account a couple of times this is better than not being able to access it all but be careful as it may result in reducing your savings rate.

It varies change with the account you choose, but it is fairly easy to keep on top of the best savings rates in this country if you frequent the price comparison sites. Be prepared to shift your cash over to a better account if you find that it suddenly overtakes the one you hold and now has the best savings rates in the country.

The most of the UK can probably find better interest rates for the funds they currently hold in savings accounts but do not know it or do not have the motivation to look for it. You need to make the difference and do something about it by finding the best savings rate for you and your savings.

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7
Mar/11

Savings Bonds

by admin under Fixed savings

Savings bonds are a great way to save money for your future. Either purchased yourself, or given as a gift, savings bonds ensure you that you will have at least some amount of savings later on.

Although you may already know a little about savings bonds, either owning them yourself or having given one as a gift, you may not know that there are different types. Each type has its own set of rules and also different ways that they can be used.

I Bonds are saving bonds that are low-risk and also a liquid savings product. During the time that you own them they earn interest and also protect you from inflation.

I Bonds can be purchased at just about any local financial institution, or also through payroll deduction.

What are they used for? I Bonds savings bonds can be used to finance education, supplement your retirement income, or also given as a gift.

With I Bonds, you are guaranteed a real rate of return since they are an accrual-type security. Each month interest is added to the savings bond, and that interest is paid to you when you cash in the bond.

They are sold at face value. For instance, you pay 50 for a 50 I Bond.

You must own an I Bond for a minimum of one year, its interest-earning period is 30 years, and there are early redemption penalties. Interest earnings are tax-exempt from both State and local taxes, but they are subject to State and local estate, inheritance, gift, and other excise taxes. Interest earnings are subject to Federal income tax, but they may be excluded from Federal income tax when they are used to finance education.

Another type is the EE savings bonds. They are safe and low-risk savings bonds that pay interest based on market rates. As with I Bonds, EE savings bonds can be purchased at just about any financial institution or, if available, through your employers payroll deduction plan.

EE Bonds can be used to finance education, supplement your retirement income, or even given as a gift.

Any EEE savings bond that were purchased between May 1997 and April 30, 2005 are set to earn a variable market-based rate of return. Those issued May 2005 and after are set to earn a fixed rate of interest.

EE savings bonds are also an accrual-type security, having interest added monthly and paid when it the bond is cashed in. However, unlike I Bonds, EE savings bonds are sold at half of its face value. For example, a 50 bond is purchased for 25.

There is a minimum of one year ownership, a 30-year interest period, and also early redemption penalties. The Tax Considerations for EE savings bonds are the same as those for the I Bonds.

Lastly are HH savings bonds. Unlike both I and EE savings bonds, HH are used only to supplement retirement income. They are available only in exchange for Series EEE savings bonds or upon reinvestment of any matured Series H bonds.

As with I Bonds, HH savings bonds are sold for its face value. For example, you pay 500 for a 500 bond. HHH savings bonds pay a fixed interest rate that was set on the day it was purchased. The interest rate will change to the current HH Bond rate on the 10 th anniversary of its issue date.

You must own HH savings bonds for a minimum of 6 months, and the interest-earning period is 20 years.

Interest earnings for HH savings bonds are exempt from State and local income taxes. However, they are subject to Federal, State, and local estate, inheritance, gift, and other excise taxes. Its interest earnings are also subject to Federal income tax.

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28
Feb/11

Savings Accounts – Professional Advice

by admin under Fixed savings

When it comes to savings, you may well find yourself daunted by the sheer variety of ways to invest your money. Particularly if you find yourself with a substantial amount to invest, and are less than confident at dealing with things like the stock market, bonds and trusts, youre likely to gain from professional expertise. The main issue here is trust you want to be sure your money is being used to its full potential and whoever you entrust it to must be someone you have total confidence in.

If you have a basic understanding of how savings and investments work, however, it will be a lot easier to make judgements about the reliability and efficiency of individual advisers.

Independent Financial Advisers

Usually you will not be charged for general advice, but the adviser will gain commission when he or she sells you particular products. Dont be afraid to ask about commissions a good adviser should be open and transparent about such matters. They are duty bound to find out all relevant information about you and then give best advice which means selling you the products that are most suitable for your situation.

Accountants

Accountants normally advise on book keeping and tax, but sometimes also give advice about investments. If involved with investing, they must belong to one of the Recognised Professional Bodies responsible for regulating their business. These include the Institute of Chartered Accountants and the Association of Chartered Certified Accountants.

Stockbrokers

If you are dealing on the stock market, you will need to buy and sell your shares through a broker. If you want advice on your investments, choose a traditional stockbroker. On the other hand, there are brokers that offer a dealing-only service, and this is a cheaper way to buy and sell shares. Stockbrokers charge a commission on deals, and a traditional brokers service should include advice. www.londonstockexchange.com provides detailed advice and ways to locate a broker.

The Financial Services Authority regulates all these professionals if you are unsure about the credentials or dealings of someone check with them to verify that they are legitimate and are operating fairly. The FSA website also has details of what to do if you are unhappy with the service youve received from a finance professional check www.fsa.gov.uk. Once again, the governments advice site has sound information on the basic principles and links to other information sites. www.direct.gov.uk

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21
Feb/11

Savings Accounts Retire In Style

by admin under Fixed savings

We all look forward to the day when we can give up work but to ensure your retirement is comfortable you will need to prepare for it carefully.

Putting a proportion of your earnings towards a pension may seem like a drag right now, but realistically you will need to save for as long as possible to gain a decent income in later years. Not only this, but there are substantial benefits to saving into a pension youre not taxed on contributions and there may be additional extras such as life insurance or lump sums included in your scheme.

These days people are investing more and more in private pension schemes and long term savings the state pension is likely to become negligible with an ageing national population.

State Pension

At present, the basic pension for a single person is 82.05 a week. This depends on you having made sufficient National Insurance Contributions over your working life. Even if you have paid off your mortgage by the time you retire, would this be enough for you to live on? Bear in mind that the age when you can claim your pension (currently 65 for men, 60 for women) is highly likely to rise in the near future, and keep on rising.

Company Pensions

Employers are likely to offer some form of pension scheme. The terms and details of these vary from company to company, but usually fall into one of two basic types: final salary schemes, based on your salary and how long youve been paying into the pension; and money purchase schemes, which depend on the amount contributed into the fund. When you retire, you then buy an annuity a type of insurance which will pay you a regular income. A money purchase scheme can be more flexible, but slightly more risky.

Personal Pensions

These schemes offer a lot of flexibility, and there are several different ways to invest, including investment trusts and unit-linked schemes that depend on share prices. Personal pensions operate in roughly the same manner as company pensions, only you have more control over your investment. Currently there are limits on the contributions you can make to personal pensions, but these are set to change in 2006.

The rules on pensions are changing all the time, and are likely to undergo radical changes in the next few years. For up to date advice, check the Pensions Advisory Service at www.pensionsadvisoryservice.org.uk

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