Many of us want to be able to access our money whenever we want. But, at the same time, we still want to make as much interest as is feasibly possible. Here are the current best easy access accounts, from data supplied by Moneyfacts.
The proposed marriage of two mid-sized wealth managers, Rathbone Brothers and Smith & Williamson, has not made City pulses race. But it will create a business with £56 billion under management, following a trend of sector consolidation in search of economies of scale that kicked off with the merger of Standard Life and Aberdeen Asset Management. And though the new couple’s names won’t mean much unless you already happen to be their clients, they have interesting histories. Rathbones began as a timber-trading venture in Liverpool in 1742 and is the family firm of a dynasty of Quaker social reformers, including the formidable proto-feminist Eleanor Rathbone (1872–1946). Smith & Williamson, an
Recent figures around the UK’s credit and debit card debt are startling indeed, with the number of transactions rising to its highest annual rate since 2008. This, paired with the fact that household income has barely changed over the last decade, has left financiers scared that the UK is on the verge of another recession. Some politicians will blame the government for the current situation. They will say that years of ‘austerity’ forced the British public to buy things with money they didn’t have. Though it is true to an extent that cuts have pushed many towards credit, it is not the whole picture. Relaxed attitudes towards lending have to
It’s a story we’ve become used to hearing in recent years. How millennials are the sensible generation. They’ve turned their backs on alcohol and going out every single night. They smoke less than other age groups, and have fewer sexual partners. And here’s another string to add to their bow – it turns out that they are also keen to invest in their retirement, even now, when that could be fifty years away. Research released today by Royal London show that auto-enrolment in workplace pensions schemes hasn’t put off those aged 24-35 from saving for retirement. 71% of those questioned said that they decided not to opt out of their
If you have credit card balance on an existing account, you could save vast amounts of money by transferring that balance to another card. Here are this week’s selection of the best cards with a 0% introductory balance transfer rate. Data provided by Moneyfacts.
Retiring to a warmer, more exotic, country is something that many of us dream of doing – and sooner, rather than later. One in ten people over the age of fifty are currently considering retiring abroad, with the main reasons being a better lifestyle, a cheaper way of life and of course, better weather than the UK. Who can blame us for wanting to enjoy some sunshine in our old age? Perhaps unsurprisingly, the most popular retirement destination for Brits is still Spain, with other locations closer to home – France, Portugal, Italy and South East Europe – following close behind in the popularity stakes. But growing old abroad can
The core consumer price index of inflation held unexpectedly steady at 2.6 per cent in July, further removing any possibility of an interest-rate rise this year. So what’s the downside? My eye is drawn to a bulletin from Nationwide, the UK’s most sensible mortgage lender. It reports a fall in quarterly profits after a rise in bad debts to £36 million from £16 million for the same period last year — small numbers but a significant trend — and its chief executive Joe Garner warns the sector to ‘balance its lending carefully’ as cheap-rate consumer credit continues to balloon while growth prospects decline. I’d say he’s right on the money.
As Brexit continues to dominate the headlines there is, understandably, a great deal of anxiety surrounding the UK’s future prosperity, and our ability to protect and grow Britain’s reputation as a major business centre. What is agreed almost across the board is that we must ensure we make post-Brexit Britain an attractive business environment. The referendum was a largely political event, but its economic consequences are enormous and will be felt for years to come. If we want a positive economic outcome from the vote, then UK business needs to flourish. But what’s talked about far less is how to create the conditions that will allow that to happen, which makes Number
It has been ten years since the start of the global financial crisis, and much has been written about whether the crisis of 2007 has changed the financial system… whether lessons have been learned, and so on. Frankly, lessons haven’t been learned and if the UK doesn’t play its cards right, there could be another financial crisis looming thanks to Brexit. A ‘brain drain’ has already started in the City of London’s financial district, UK house prices are slowing down as many high net worth individuals (HNIW) head back to Europe, and you can’t even buy a cheap bar of chocolate because of Brexit. Pass me the ‘chocolate orange’? Perhaps
With the Retail Price Index figures released yesterday, commuters are up in arms at the news that rail prices are set to rise by up to 3.6% as of January. It’s not all fares that will be affected; only those that are regulated by the government – and the price increase won’t happen until the government agrees to it being implemented. But around 45% of fares in England, Scotland and Wales are regulated, including certain off-peak and standard return tickets, and most season tickets in the South East and London regions. A 3.6% increase might not sound huge if you only get the train once or twice a month. But
Putting your savings in a fixed rate bond guarantees your rate of return – but you do have to be prepared to lock up your cash for a set amount of time. Here are this week’s best buy two-year fixed rate bonds. Data provided by Moneyfacts.
Driving in central London is a minefield at the best of times. What with the confusion of the congestion charge zone, one-way streets at every turn, cyclists all over the place and it being nigh-on impossible to park, it’s a wonder that anyone even tries to drive in London. Perhaps this is all a tactic by the Mayor to put off drivers from coming in to the capital. It does seem like a pretty good tactic, to be fair. The latest gripe is about one particular junction in Bank, from which cars are banned, and only buses and bikes are allowed to drive through. However, the rules were only changed
Tomorrow, 12 August, is the ‘Glorious Twelfth’: the official start of the grouse-shooting season. This normally means plenty of tweed and guns heading north, in cars, in planes, and on the railways. This year, however, there’s something of a spanner in the works. Just weeks before the start of the season, ScotRail announced that they would be banning all guns on their trains. This is despite the fact that unloaded, properly licensed firearms are allowed on trains, as long as they are carried ‘in accordance with the law’. The sticking point here, however, is the part that says ‘with prior permission of the train company’. So if ScotRail have decided
Like the splitting of the atom – but perhaps not as significant to the whole of mankind, the bitcoin split into two on August 1. We now have bitcoin cash. For the less knowledgeable investor, the bitcoin is a digital currency which was launched in the wake of the financial crisis in 2009, borne out of a general mistrust of the existing financial institutions. Unlike a traditional currency, the bitcoin has no central monetary authority. Instead it has a peer-to-peer network made up of users’ computers. Without requiring physical presence, bitcoins do not have material form (except in a few cases where companies have fabricated ‘physical’ bitcoins.) Instead, bitcoins work
Using fear to sell products is a powerful strategy. Unsurprisingly, many financial firms have come to rely on fear to fatten their bottom lines. But in 2017, there’s only one word to describe fear-based marketing: desperate. Firms selling pensions, investments, and financial products aimed at the over-50s, such as funeral plans, have traditionally been the worst offenders. The insurance industry also knows a thing or two about using fear to sell. After all, with the exception of a mandated product like car insurance, the raw motivation for buying insurance products is largely fear. None of us plan to drop our iPhones, and yet we buy gadget insurance, just in case.
What does being ‘a farmer’ mean to you? For those that have experienced it, the job – or lifestyle, really – the answer might be early mornings, long days, and little pay. Others imagine farming to be more like living the good life. Perhaps that’s the reason why a recent report, commissioned by the Prince’s Countryside Trust, revealed that twenty five per cent of adults questioned quite like the sound of giving up their day job and taking up farming instead. The economics of the profession might make them think again, however. The most startling fact from the report is the gap between the general public’s estimates of a farmer’s
Ann Summers chief executive Jacqueline Gold has been credited with transforming the lingerie company into a more female-friendly business – and in the process has become Britain’s 16th richest woman, according to the latest Sunday Times Rich List. So what was the key to her success? Gold believes that identifying a gap in the market was what turned Ann Summers into such a recognisable brand. ‘I knew that women were desperate to buy sexy lingerie and sex toys, but there wasn’t anywhere they could do that which offered a female-friendly, safe environment.’ she explains. ‘I spoke to friends and saw that we could replicate the popular concept of ‘at home’
There has just been a rather meaningless debate about whether Jeff Bezos of Amazon or Bill Gates of Microsoft should be labelled ‘the richest man in the world’. Both are notionally worth more than $90 billion, although Bezos was briefly ahead by a nose after a surge in the value of his Amazon shares. It was meaningless because such unimaginable wealth ‘can’t change how many people love you or how healthy you are’ — as the world’s fourth richest man, Warren Buffett, once remarked — and can’t even buy you more fun than, say, the $5 billion fortune of our own Sir Richard Branson. The point is that the only
As a freelance journalist, when my main employer of four years called to say they were dispensing with my services without any prior warning, I was shocked but exhilarated. With my skills, I reasoned, it wouldn’t be long before I found a far more attractive job with better conditions and perhaps even holiday and perhaps even sick pay. Luckily our summer holiday in the US was all paid for; with money I’d put aside, I estimated I wouldn’t need to work full-time until September. As there was no particular rush, I spent a couple of weeks firing off CVs, not particularly expecting much of a response, but more to test
I’ve grown to dislike the term ‘equal pay’. Without doubt women deserve to be paid the same as men for the same job performance, but it is the argument that stands against them. ‘Equal pay’ has an underlying tone of ‘it’s not fair’ – which is a weak position from which to negotiate. I say this from experience, as a woman in the City who could and should have been paid more than her male counterparts. My argument was always equal pay. It failed me. I was an equity research analyst at a large and prestigious US investment bank. Client rankings, as measured by the leading surveys (Extel and Institutional
