Feb 22 2008
Now is a great time to start saving for children or for general financial stability, it has been suggested.
In fact, there has "never really been a better time" to start setting money aside or to contribute to an investment vehicle more regularly, according to Rachel Thrussell, head of savings at Moneyfacts.co.uk.
Explaining her assertion, she said: "The battle for savers money is fierce with many institutions launching accounts paying higher than expected rates following the base rate cut."
The comments from Ms Thrussell came after research by Birmingham Midshires found that the number of Britons adding to savings accounts has increased in the past 12 months, but more people are now thought to be spending the cash they had previously set aside.
Research by Engage Mutual recently discovered that many parents in the UK expect to have to cut back on the amounts of money they save for their children over the course of this year.
