Savings and Investments

Keeping your savings under the mattress is not recommended - it may be too much of a cliché to waste any time looking there, but your savings will not grow with interest.

Why save?  Living for today may be fine, but think about the future - you may want to save for your retirement, for a house or a car, to pay for education, a holiday or just a rainy day.  Whatever your reasons for saving, you'll want to find the best way for your needs.

Things you'll want to consider include: finding the highest interest rate, being able to access your savings when you need to, how much risk you are prepared to take. 

Taking more risk with your savings may mean higher interest or growth, but it could mean your investments decrease in value - worse than leaving them under under the mattress!

What are the options:

  • Banks & Building Societies offer a variety of different savings accounts and bonds - these are considered as low risk, you are unlikely to lose your money here.  Generally these will offer higher rates for larger amounts and longer access times - shop around by comparing rates online.

  • Offshore banks may offer better rates, but are there any catches? Do some research.

  • Stocks and shares - can be a risk, but historically give better rates than savings accounts if held for long enough.  You'll probably need to find a broker to do the buying and selling - compare their commission and terms online.

Able was I ere I saw Elba

Financial Information Services; Banks; Offshore Banks; Share Dealing; Stockbrokers; Insurance,
Retirement Finance; Annuities, Mortgage Offset, Buy to Let Mortgage

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