In a recent study Nationwide building Society showed 49 percent on British people are saving money on a regular basis, and a thirds polled said that saving was important for the future, strangely only 7 percent of people thought now in the present financial turmoil was a good time to save.

Research collected from a financial service firm showed that out of the people who were questioned 60 percent of them thought they were not putting enough away then they should.

It’s said that if people do not put money away now for the future, in later life they will find it more of a struggle to keep up repayments on loans and household bills as things become more expensive.

According to the financial service firm, a high percentage of people think that the government should help more when encouraging people to save.

A director at Nationwide, Matthew Carter advised after seeing the figures that saving is extremely important, and there has never been a more important time to save than now, and that Nationwide are urging the government to educate people about building a nest eggs to help in your future. Mr Carter also believes that school children should learn about saving as it would help them when they grow older adopt better saving habits.

Source: freepress

I spoke to a friend just a few hours ago who owns 24 properties, he was hoping that their was going to be a reduction in the base rate by 0.25%, so he was little upset that interest rates remained the same.

If the Bank of England’s Monetary Policy Committee had made the choice to reduce the base rate, then I am sure my friend would have had a different tone in his voice when he rang me.

But it is not just landlord’s who is affected by this decision; my father spoke to me to say how unhappy he is that the rate did not go up. The thing is my father has a nice amount of money in many kinds of savings accounts, so a rate increase would have been great news to him.

I keep telling my dad that if the rates did go up then it could affect thousands of people who have a mortgage, like his son, my brother.

Are you one of those who were shocked with the Bank of England decision?