Making Your Savings Work For You

By Author: Bonny Kominek
Total Articles: 32
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We have seen in recent months and years how fragile our economic system truly is. What happens to the banks across the world has a direct impact on our daily lives and our individual livelihoods. With all this in mind, it''s clear to see why people are so concerned about protecting their money through savings and investments.

When you look at the adverts in the window of every bank on the high street, you will be taken away by the range of rates and percentages on offer. With so many types of accounts on offer, finding the right one for you may seem a difficult choice. But you can make an informed decision if you are clear about what is out there.

All banks offer their customers competitive options for instant access savings accounts, providing a range of interest rates, degrees of flexibility, and access to your money quickly and easily. With many such accounts you''ll also be given a cash card which will allow you to withdraw straight from an ATM.

People often save up with a particular target, such as the purchase of a new home. If you fall into this category, then a reward savings account may be the right ...
... option as it will incentivise you to avoid withdrawing, as you''ll be given better rates of interest for leaving your money alone.

ISAs of various types, offering a range of degrees of access whilst working to as much for you as they can, will be available to you from different banks. These work in such a way as to prevent you from having to pay personal tax on the returns.

If you want to plan your future saving in a more certain and secure way then there are account options available which will give you a fixed interest rate no matter what fluctuations there may be in the base rate.

Younger savers will also be able to find savings accounts across many different banks which are specifically targeted to help save up for a child''s future, as well as encourage them to start learning about money.

So whoever you are and whatever your needs, there is so much available. If you want to put some cash away or build up a pot of money you can use towards something you''ve been thinking about for years, there is plenty to choose from. If you know what is on offer to you then you''ll be able to match it with your needs. Bonny Kominek is a finance expert with over 5 years of experience in the finance industry. They recommend Alliance and Leicester for savings accounts.