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Swirling expectations to save have left many people developing unstable habits, with over 1 in 4 (27%) struggling to save 10%, while almost half (46%) feel they should be saving double, if not triple that each month. The new study by Ford Money also found that not only are people struggling to save each month, but they are falling into unstable habits leaving them unable to safeguard the savings they do manage to squirrel away as more than 1 in 10 admit to dipping into their savings every month, most commonly to cover bills (38%).
Over two thirds (62%) of parents are concerned about the amount of unwanted plastic toys, or “tat”, their children may receive this Christmas. The latest data from Ford Money has found more than half (52%) of parents revealed that items such as clothes, toys, and jewellery often never got used after the holiday period.
As we look back on the past year and reflect on the lessons learned, new research from online-only savings provider, Ford Money, reveals the importance of financial knowledge transfer between generations.
Ford Money has announced the launch of a new savings brand in Germany. Ford Money Germany will provide simple and straightforward savings products which mirror the UK offering and include Ford Money’s ‘Our Best Rate Guarantee’. This allows existing and new customers to benefit from the same interest rates.
Following the UK national lockdown from March – July 2020, Ford Money research reveals that 35% of savers aged 55+ are not making the most of more favourable savings account interest rates, and instead are keeping their savings in lower interest current accounts.
More than 2.5 million over 55s are planning to sell their properties over the next 12 months to release cash, with £89 billion expected to move into savings accounts as a result.
As the New Year approaches, new research by Ford Money has revealed that one in four UK savers (25%) have never switched savings providers, equating to 10.9 million adults across the UK.
This Halloween, new research from Ford Money has revealed that one in 10 (9 per cent) of UK savers have experienced a fright after discovering savings in long-forgotten accounts. Equating to almost 5 million UK adults, this includes both those who have found money in an unused account (7 per cent) or in one that has been declared dormant by their provider (4 per cent).
New research from online savings bank Ford Money has uncovered a new wave of silver savers embracing online banking over bricks and mortar. It reveals that 79 per cent of over 65s now manage their savings online, equating to 9.4 million UK adults.
Despite the Financial Conduct Authority’s (FCA) efforts to boost competition in the savings market and explore the introduction of a Basic Savings Rate (BSR), new research reveals that 59 per cent of UK savers think the measures simply won’t go far enough. Further, 67 per cent say that if banks were able to set the rate themselves, it would be too low to make any significant difference.
New research shows that 33 per cent of UK savers expect interest rates to increase within the next three months, with 60 per cent acting in anticipation of rate rises. The research from Ford Money, the UK savings bank from Ford Motor Company’s financial services business, Ford Credit, also shows that 49 per cent could be missing out on the benefits of diversifying their savings accounts.
77 per cent of UK savers say banks should make savings accounts easier to understand, according to new research from Ford Money, the UK savings bank from Ford Motor Company’s financial services business Ford Credit.
Ford Money, the UK savings bank from Ford Motor Company’s financial services business Ford Credit, has today added two new fixed rate products to its offer.
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Ford Money is a trading style of FCE Bank plc. which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Firm Reference Number 204469. Registered in England and Wales under registration number 772784 with registered address at Arterial Road, Laindon, Essex, England, SS15 6EE. Please do not contact this address for customer servicing. For ways to get in touch please visit 'Contact Us'.
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