Almost half of Britons happy with personal finance - Savings - News - Moneyfacts

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Almost half of Britons happy with personal finance

Almost half of Britons happy with personal finance

Category: Savings

Updated: 14/08/2009
First Published: 13/08/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Almost half of Britons have professed to being happy with the state of their financial situation, but millions could be potentially missing out on interest on their money.

Forty six per cent of adults in the UK said they would describe their personal finances as good or very good, a study by Sainsbury's Finance has found.

However, many people may be missing opportunities to boost their income. Over 12.5 million Britons have no idea how much interest their savings accounts are paying, with many accounts likely to offer next to nothing.

Data from Moneyfacts shows that savers could get a return of up to 3.30 per cent with a simple easy access account, beating rates offered by notice products.

Such high rates had previously only been available on notice accounts, but with lenders increasingly turning to their savings books to funs lending activity, savers can now achieve substantial returns, safe in the knowledge that their money can be withdrawn at any time.

Rates of up to 3.25 per cent can be achieved on investments as little as £1.

People in the East Midlands and East Anglia are most concerned about the financial situation, with 13 per cent describing their circumstances as awful or pretty bad, compared with just two per cent of respondents in Scotland.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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