News

02/03/2009 - Make 2009 the year to shop around

The new year is a time when most of us like to take stock of our lives. Whether it be our weight, our lifestyles, our lack of exercise or simply a desire to rediscover an old hobby, articles proliferate through the newspapers to help us get motivated.

But what about your finances. With all this talk of recession and a credit crunch, it might be even more important to reassess your position this year – and there is one resolution which might start making you money almost immediately.

Review your interest rates

UK interest rates have dropped sharply over recent months – and are now at their lowest level since the Bank of England was created. At the same time, inflation has fallen back from recent highs and it seems likely it will actually undershoot the Bank of England’s (BoE’s) target of 2%. The BoE are therefore trying everything to boost economic activity and avert a damaging environment of deflation.

This means that interest rates for savers are also very low. What was a good savings account might therefore now be not so attractive. A full review of the market might therefore make you money, particularly if you can lock your savings up for a period of time – even just 12 months.

More information

At WR Financial Management, we specialise in helping people make the most of their money. From savings rates to investments and pensions, we scour the market for the best products which will help you meet your objectives.

If you would like to make 2009 the year you review, please give us a call on 01642 661600.

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