From Piggy Bank to Savings Account – The Benefits of Saving

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first bank savings

Bank Savings

Executive Compilation By John Noble

From Piggy Bank to Savings Account – The Benefits of Saving
Executive Summary By Paul Mcindoe

If your only debt is a student loan, then you would be better off financially, by putting your money into a high interest savings account and paying off the loan in small amounts when you have a bit of spare money.

Due to inflation, if your money is not invested or placed in an account that is earning more than the current rate of inflation, you are actually losing money. Like other savings accounts, the rates can vary from bank to bank, and unless the ISA is a fixed rate account, the interest can change over time. If you have in excess of £3000 to save, then there are plenty of high interest accounts, including internet saving accounts savings bonds and instant access savings accounts accessible through your local branch, telephone, and ATMs.

Sometimes banks offer high interest rates to attract customers, which are then reduced after six months or a year, so it can pay to keep an eye on the highest interest savings account and move your money around.

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bank savings

If your only debt is a student loan, then you would be better off financially, by putting your money into a high interest savings account and paying off the loan in small amounts when you have a bit of spare money.




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