Money Saving News for December 2008
- Spending caps 'cut the cost of Christmas' - 22nd December, 2008
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Many Brits will be imposing spending caps on themselves and their loved ones this year in an attempt to keep the costs of Christmas from spiralling out of control.
According to a survey conducted by Halifax, two-thirds of people in the UK have who have agreed a spending cap with family and friends, will spend under £25 on each present... - Experts speak out about "unjust" mortgage fees - 19th December, 2008
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Industry analysts from moneysupermarket.com have spoken out about some of the "unjust" fees levied on cash-strapped customers by mortgage lenders.
According to the website, many mortgage lenders are still charging customers "hefty" fees when they go into arrears on their payments, despite the fact that the credit crunch has left many homeowners struggling to pay their mortgages... - Brits 'save despite credit crunch' - 19th December, 2008
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The majority of Brits managed to stash some of their income away in savings accounts in 2008, despite the credit crunch.
A survey by Alliance & Leicester Savings has revealed that 64 per cent of people in the UK managed to put at least some money into a savings account and one-third of them managed to save the amount they were aiming for at the start of the year... - Banks cut savings rates before Christmas - 19th December, 2008
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Data compiled by uSwitch.com has shown that many financial institutions have slashed the rates of interest they pay savers in the build up to Christmas.
The price comparison website found that 76 providers had dropped interest rates on over 150 products, with some rates falling by as much as four per cent... - Homeowners should be cautious of Christmas criminals - 18th December, 2008
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Homeowners may be giving criminals a gift by leaving their presents out under the tree this Christmas, as M&S Money suggests this could provoke higher numbers of burglaries.
According to the bank, 39 per cent of households say they leave presents out under the tree well before the big day and just seven per cent are security-minded enough to wait until Christmas morning before putting the tempting treasures out for people to see... - New savings account launched - 18th December, 2008
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A new savings account has been launched by Newcastle Building Society.
In a bid to encourage savers, the new Reward Saver and Individual Savings Account (ISA) will offer an interest rate of 3.5 per cent gross with an additional bonus of one per cent for the fist 12 months of the account contract... - Credit crunch 'hits Santa' - 18th December, 2008
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It seems even Father Christmas himself is not immune to the financial ravages of the credit crunch, as new research reveals that many children believe Santa's sack will be lighter this year because of the downturn.
A survey conducted by LV= showed that over one quarter of children who believe in Santa Claus believe he will have been credit crunched like everyone else... - Savers should choose fixed-rate ISAs, says expert - 17th December, 2008
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An expert has counselled savers to search for banks offering individual savings accounts (ISAs) which pay a fixed rate of interest if they want the best return on their investment.
According to an analyst from moneysupermarket.com, the Bank of England is predicted to lower interest rates further in the near future, which means ISAs with a rate pegged to the base rate could pay lower dividends to savers... - Brits giving money this Christmas - 17th December, 2008
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Despite the credit crunch and the falling value of the pound, many Brits are planning on giving cash or contributing to savings accounts instead of buying presents this Christmas.
Research conducted by Halifax shows that more than one-third of Brits will be giving the gift of money this Christmas and 36 per cent of parents would consider opening a savings account for their child instead of buying them toys... - Falling inflation leaves elderly suffering most - 17th December, 2008
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The falling rate of inflation has benefitted senior citizens the least, according to research released today.
Yesterday, the Office of National Statistics revealed that inflation had fallen from 4.5 per cent to 4.1 per cent but calculations by Alliance Trust show that the rate of inflation for over-75s still sits at 6.7 per cent...