Analysis Topic: Personal Finance
The analysis published under this topic are as follows.
Wednesday, January 09, 2013
UK Pension Annuity Income Suffers Biggest Fall Since 1998 / Personal_Finance / Pensions & Retirement
By: MoneyFacts
New research by Investment Life and Pensions Moneyfacts has revealed that the average annual income generated by a standard annuity for a 65-year old male fell by 11.5% during 2012. This is the biggest annual fall since 1998, when annuity income fell by an average of 13.7% (see Table 1 below).
The equivalent annuity income for a female dropped by 6.1% in 2012, a fall that was cushioned by the uplift that females received on the switch over to gender neutral pricing from 21 December 2012.
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Tuesday, January 08, 2013
UK Saving Accounts Fast Disappearing Bonus Interest Rates / Personal_Finance / Savings Accounts
By: MoneyFacts
Just when savers thought it couldn’t get any worse, it did. Moneyfacts research shows that not only are savings rates falling to devastating lows but introductory bonuses are all but disappearing too.
The table below shows the number of accounts over the last three years, including August 2012 when Funding for Lending was launched as an indication of what happened to accounts straight after launch.
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Tuesday, December 18, 2012
No UK CPI Inflation Christmas Gift for UK Savers / Personal_Finance / Savings Accounts
By: MoneyFacts
Inflation figures released today show the Consumer Prices Index (CPI) remained at 2.7% during November.
To beat inflation, a basic rate taxpayer at 20% needs to find a savings account paying 3.37% per annum, while a higher rate taxpayer at 40% needs to find an account paying at least 4.50%.
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Sunday, December 16, 2012
Home Winter Weather Proofing 22 Point Survey, Save Energy & Repair Bills / Personal_Finance / Home Maintenance
By: Sami_Walayat
Conducting a preventative home winter weather proofing survey can save on costly repair bills such as damage form blocked drains, gutters, leaking roofs, and burst pipes, as well as saving on excessive energy usage due to drafts, lack of insulation and boiler problems.
This comprehensive 22 point video DIY home survey will show you all of the main areas that should be covered that has the potential of saving £ thousands each year.
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Wednesday, December 12, 2012
The UK Saving Accounts Vanishing Act / Personal_Finance / Savings Accounts
By: MoneyFacts
Moneyfacts research reveals 351 savings accounts have been withdrawn from the market since the start of the year, 191 of which were withdrawn in November 2012 alone. The research also revealed the number of savings accounts paying above BoE base rate fell by 304 accounts from January 2012, and 162 of these have been withdrawn since the start of November.
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Wednesday, December 05, 2012
UK Fixed Rate Savings Bond Interest Rates At All Time Low / Personal_Finance / Savings Accounts
By: MoneyFacts
Moneyfacts research reveals the average rate of fixed term bonds across every term from one year bonds all the way through to five year bonds has dramatically fallen to an all time low.
Wednesday, November 28, 2012
The Truth Behind Governments Funding For Lending Scheme (FLS) / Personal_Finance / Debt & Loans
By: MoneyFacts
The Government’s Funding for Lending Scheme (FLS) opened for business on 1 August with the number one aim of kick-starting the economy by making mortgages and SME lending much more accessible. To date, 30 lenders have taken up the offer of access to cheap loans.
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Wednesday, November 21, 2012
UK Government’s Funding for Lending Devastates Savings Market / Personal_Finance / Savings Accounts
By: MoneyFacts
Moneyfacts research reveals that the UK savings market is being decimated by the Government’s Funding for Lending Scheme (FLS), which allows lenders to borrow from the Government at vastly reduced rates, negating their need to raise funds via the traditional method of savings.
Tuesday, November 20, 2012
Halifax illustrates Cash ISA Savings Catastrophe, Which Best ISA Now? / Personal_Finance / ISA's
By: Nadeem_Walayat
Britain's savers continue to fight a losing battle to maintain purchasing power of savings following the financial crash of four years ago since which time savings interest rates have tended to languish below even the official highly suspect CPI inflation rate, that never reflects the rising cost of peoples weekly shops. Britain's whole savings market reeks of being a fraudulent enterprise that exists purely to transfer wealth from savers over to the banks and government (taxes). In which respect cash ISA's offered some hope to at least avoid the tax element of the stealth theft underway.
Saturday, November 17, 2012
The Most Important U.S. Tax Moves Before December 31 / Personal_Finance / Taxes
By: Investment_U
Alexander Green writes: In his acceptance speech after his re-election, President Obama said he will make reducing the deficit a priority in his second term. During the long campaign, neither he nor Mitt Romney gave many details about how much they would cut from which programs. But Obama did make some very specific tax proposals.
Monday, November 12, 2012
Credit Card Interest Rates Hit 18-month High / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
While there is an abundance of interest-free purchase and balance transfer deals hitting the market, consumers need to be aware that the average purchase rate on credit cards has hit an 18-month high.
With customers generally taking advantage of interest-free deals, lenders need to sustain the offers, so rates are rising.
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Friday, November 02, 2012
Will The Inflation Monster Devour Your Savings? / Personal_Finance / Inflation
By: DeviantInvestor
Inflation will destroy your savings unless you prepare. I encourage you to buy my new eBook, “Survival Investing With Gold and Silver.”
Question: Is this book simple and easy to understand?
Answer: Yes!
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Sunday, October 14, 2012
Two Simple Financial Rules Young People Should Learn to Live by / Personal_Finance / Debt & Loans
By: DailyWealth
Porter Stansberry writes: Aaron Brabham: So Porter, it turns out we have a new demographic that we never sought to attract... the 20- to 25-year-olds.
Wednesday, September 26, 2012
What Happens When a Fixed Rate Bonds Mature? / Personal_Finance / Savings Accounts
By: MoneyFacts
In these days of low returns, fixed rate bonds have for many become the savings vehicle of choice but what happens when the term comes to an end? Confusingly, there are three correct answers to this question.
- Some providers will send you your money back
- Some providers will put your money into a pre-designated account
- Some providers will contact you
Wednesday, September 26, 2012
The Best Cash ISA for Beating Bankster Fraud and Government Money Printing Inflation / Personal_Finance / ISA's
By: Nadeem_Walayat
Britain's savers have been fighting a losing battle since October 2008 when the crash in UK interest rates began following the Prime Minister of the time Gordon Brown taking control of monetary policy from a fumbling mumbling paralysed Governor of the Bank of England and started the ball rolling by announcing the first of a series of interest rate cuts all the way to 0.5% barely 5 months later by March 2009.
Thursday, September 13, 2012
Student Loan Debt Slavery, Is College Worth It? / Personal_Finance / Student Finances
By: LewRockwell
Economic Collapse writes: Every single year, millions of young adults head off to colleges and universities all over America full of hopes and dreams. But what most of those fresh-faced youngsters do not realize is that by taking on student loan debt they are signing up for a life of debt slavery. Student loan debt has become a trillion dollar bubble which has shattered the financial lives of tens of millions of young college graduates. When you are just starting out and you are not making a lot of money, having to make payments on tens of thousands of dollars of student loan debt can be absolutely crippling. The total amount of student loan debt in the United States has now surpassed the total amount of credit card debt, and student loan debt is much harder to get rid of. Many young people view college as a "five year party", but when the party is over millions of those young people basically end up as modern day serfs as they struggle to pay off all of the debt that they have accumulated during their party years. Bankruptcy laws have been changed to make it incredibly difficult to get rid of student loan debt, so once you have it you are basically faced with two choices: either you are going to pay it or you are going to die with it.
Friday, September 07, 2012
Taxmageddon 2013: How to Prepare for Looming Tax Law Changes / Personal_Finance / Taxes
By: Money_Morning
Larry D. Spears writes:
It's often said the only things certain in life are death and taxes - but this year, even taxes aren't a certainty.
At least not the specifics, thanks to Election 2012 and Taxmageddon 2013. Investors are left with more questions than answers.
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Wednesday, August 29, 2012
Numbing Effect of Savings Interest / Personal_Finance / Savings Accounts
By: MoneyFacts
It is hardly surprising that we have all become numb to the plight of interest on savings accounts. Everyone knows how miserably low they are.
In monetary terms, just how bad has it got? It’s hard to imagine that only five years ago, Bank of England (BoE) base rate was 5.75%. The average no notice account paid 4.08% and to raise £100 in gross interest would have required a deposit of £2,451. Notice accounts paid an average of 4.23%, and to get the same return would have meant investing slightly less at £2,364.
Wednesday, August 22, 2012
Bank Current Account Overdraft Chargers, the End of Free Banking / Personal_Finance / UK Banking
By: MoneyFacts
Why do banks need to charge for current accounts? Over the last ten years, the Bank of England Base Rate has fallen drastically but overdraft rates have had a ‘cushioned’ fall.
The table below shows the average overdraft rate over the last ten years alongside BoE Base Rate. It highlights that although base rate is at an all-time low of 0.5%, overdraft charges are still making a sizable return for the banking sector.
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Tuesday, August 07, 2012
UK Savings and Loans Market Rates Credit Crunch Five Years on / Personal_Finance / UK Banking
By: MoneyFacts
We are now five years into the credit crunch and the following table shows how it has affected our personal finances.
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