As usual Martin rattled through lots of advise and information and facts at breakneck speed.

He started by highlighting that this was a savings special not about investments but observed many do still look for saving schemes rather than investments. Interest rates had started to rise again but it was painfully slow still.

Martin looked at whether people should save money or pay off their mortgage early. It all depended on what was the rate they were paying on their mortgage (shop around first for the lowest rate you can get) and how much they could pay off regularly to reduce the interest payments on the mortgage, some could save thousands with early repaying of their mortgage.

There’s a new app out that allows you to collect the loyalty points on your loyalty cards rather than carrying all your cards. However you will probably need the card to cash in points. Martin advised collecting points on things you were going to buy anyway, don’t buy goods and services because you get loyalty points.

Next they looked at Cash ISAs. With interest rates still low and everyone allowed £1000/year of tax free savings Cash ISAs have lost some of their appeal but they can play a part in a balanced saving scheme. Check rates regularly!

The interval question was whether in a restaurant or shop you were “entitled” to get tap water for nothing? The answer was no unless the place sold alcohol. However asking for free tap water often was rewarded.

In the second half Martin looked at Premium Bonds. He seemed to indicated that for most people with typical luck the return was a little lower than most savings rates but that this was made of people winning higher than the average and others below. The present “Prize rate” was 1.4%

Finally he showed that those who are prepared to shop around and move their money did better than those that left it in one place. He also said that Sharia banking was worth considering but with care.

Do you think savings accounts are less popular now than investment accounts?

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