Investing £20 a month into a Child Trust Fund account (CTF) would enable the child to receive over £8,000 on their 18th birthday, according to ASDA.
Investing £100 into ASDA’s CTF would increase the figure to over £37,000. CTFs are government-backed savings accounts for children. Every child in receipt of a child benefit is eligible […]

Nearly half of the UK population only expect to live to the same age as their parents’ generation, according to Life Trust.
According to Life Trust, such people run the financial risk of being unprepared to live far longer than their parents. For example, a man aged 40 today has more than a 1 in […]

The old proverb ‘what’s mine is yours and what’s yours is mine’ is fading fast from household finances, according to research by online payment provider PayPal.
It seems that tradition has gone out of the window with more and more couples wishing to keep their finances separate from their partners. The top reason given for this […]

J O Hambro is looking at the possibility of some areas of renewed investment opportunities over the medium term after a difficult year for many parts of the market.
Rod Marsden, senior fund manager of the JOHCM Continental European Fund and JOHCM European Fund, said: “From a macro perspective, there is clearly US recovery potential in […]

Net consumer credit – which includes credit cards and personal loans – increased by £1.2bn in March, down from February’s increase of £2.3bn, according to the Bank of England (BoE).
BoE statistics revealed that, although net credit card lending remained on par with February’s increase of £0.4bn, net loans and other advances increased by £0.9bn, […]

Comparison site Moneyfacts says the monthly repayments on personal loans are rising as well as mortgage rates.
Michelle Slade, analyst at Moneyfacts.co.uk, said: “In the last two weeks alone we have seen Barclaycard (+0.5%), Lombard Direct (+1%), The AA (+0.1%), NatWest (+2.5%) and Tesco Personal Finance (+0.6%) all push selected rates upwards. On top of this […]

Citizens Advice has written to the Chancellor urging the Government to fully compensate everyone who is worse off financially from the removal of the 10p starting rate of Income Tax.
The charity has called for any compensation to be introduced quickly and effectively, taking into account any potential barriers such as difficult claiming procedures.
Citizens Advice stresses […]

Building societies’ savings influx in March reached £1.26bn, marking a 70% increase since March 2007, according to the Building Societies Association (BSA).
Adrian Coles, director general of the BSA, said that in the current uncertain economic climate, building societies are viewed by the public as traditional and trusted savings institutions. “Together with the competitive rates […]