Savers called to protect themselves in the mid-week money sections
Savings filled the mid-week money sections, with the theme of money protection popping up all over the papers. The old favourite of bank bashing was also prevalent throughout the money sections, after all it is a popular sport.
James Coney and Sylvia Morris at Money Mail warned of how long term savers may be at risk of being forced into low interest rate accounts . The banks have attempted to draw in customers by releasing new fixed rates for those whose deals come to an end this month.
The Mirror emphasised the fact that savers may be experiencing some trouble as interest rates have fallen by nearly 25% in 9 months. Graham Hiscott highlighted the sticky situation that some may be in next year and how their income will decrease.
Protecting savings was also mentioned in the Daily Express. As employers may no longer be able to force an employee into retirement in their mid-60s, Joanne O’Connell explained how investing for your retirement should start now. O’Connell warned that those who don’t start saving now could be hit hard in the future.
The Telegraph focused on the threat of another credit crunch, using this opportunity to provide some useful tips on how to prepare yourself in case of a rehash of the financial meltdown that the country faced before.
This week’s scores are: