Newly-released figures show that total building society savings nearly doubled year-on-year in 2007. The Building Societies Association has said a record-high £16.1 billion was deposited in building societies last year, dramatically up on the £8.3 billion stowed away in 2006. Uncertainty over the credit crunch and redistribution of funds following the run on Northern Rock… Read more

MoneyExtra.com is urging consumers to shop around for the best deals on financial services. The financial website found that the total annual savings that can be enjoyed by replacing near-worst with near-best products across a range of sectors run close to the £5,000 mark. That reflects a £370 rise on the savings available in the… Read more

Britons are being urged to make sure they can manage their finances should they take on a pet in the new year. Millions of people own a cat or dog in the UK, with thousands more getting a new animal for Christmas. However, research from the Dogs Trust has found that the average dog lives… Read more

The Bank of Englands Monetary Policy Committee (MPC) has voted to keep interest rates at 5.5 per cent this month, despite calls for another cut. Analysts admitted the decision had hung on a knife edge and the MPC faced a tough decision, as they balanced a slowdown in consumer spending with growing inflationary pressures. However,… Read more

The Church of England has launched a new debt advice campaign for consumers worried about the consequences of their festive shopping sprees. With one recent report estimating that a fifth of Brits will still be paying off their Christmas debt in June, the CofE is dispensing straightforward and practical advice that aims to help borrowers… Read more

Britons are being urged to make sure they take out pet insurance for animals they received for Christmas. Pet insurance is often overlooked by many people when they first take on a new pet, but finance experts have explained that it can be a vital investment. David Doulton, director at Fair Investment Company, explained: “Pet… Read more

Christmas spending is likely to come back to haunt many Britons after new reports claims there will be a big rise in personal insolvencies in 2008. Accountants Grant Thornton have warned that the excessive Christmas spending period will account for up to one in three personal bankruptcies in the coming three months, with the firm… Read more

Britons are being urged to save more than borrow in 2008 after savings levels in the UK dropped by over £11 billion this year. Figures from unbiased.co.uk reveal that for every pound saved in the last three months of the year, UK consumers borrowed 35p. And consumer uncertainty over the credit crunch combined with high… Read more

Only one in every 100 Britons are in “peak financial condition”, according to a new survey from Abbey. The bank has analysed the personal finance behaviour of Brits, claiming that many of the products they use, such as bank accounts, mortgages, savings, insurance and credit cards are not optimal. Using a points system, the bank… Read more

Experts are urging Britons to make the most of the influx of festive savings accounts to ease the strain on their finances and reassess their situation for the new year. But savings experts at Moneyfacts.co.uk have warned that people considering taking out a new savings account to make their money work should not be lulled… Read more