Article Abstract:
It is important to have capital invested in a number of different ways to ensure maximum flexibility. A reasonably large amount can be kept in a postal account, as these offer higher rates of interest than ordinary bank or building society accounts. Some capital can also be invested in tax-efficient products such as Tessas and PEPs, although these will be subject to changes in 1999. A small amount can be kept in an instant-access account.
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Article Abstract:
There are a number of very effective ways to save money. It is worth considering switching to a mortgage that can be paid off in only 10 years, as this will bring large savings in interest payments. Consideration should also be given to finding more competitive premiums for home/contents and motor insurance. It is advisable to take time to find the best deal for savings accounts, although very few people make the effort to do so.
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Article Abstract:
There are a number of tax-efficient ways of saving relatively large sums of money. It may be worth considering a 30-day notice postal account, and it could also be advisable to start a tax exempt special savings account. In these accounts, deposits held for a five-year term do not attract income tax. Savers should also look at National Savings, risk-free government products which can be obtained through the Post Office.
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