|
Jobseeker Finance Matters
|
There may be positive growth in the economy for the first time in 18 months, but we aren't out of the woods yet. Figures released by the Office of National Statistics show that unemployment rose against predictions, to 8% meaning 2.5 million people are out of work. This is the highest level since 1996. The inactivity rate also increased to 21.5% the highest rate in 16 years.
Therefore life is pretty tough for anyone looking for a job right now and job security is becoming an oxymoron. Our grandparents could expect to work in one or maybe up to three different places throughout their working lives, but today we can get through three companies in as many years. Now we need to develop our own security.
Knowing what to do with our money is the most sure-fire way to ensure some level of financial security in the future. We can no longer rely on state pensions and the welfare state is designed as a safety net not a lifestyle choice. But many of us don't really know where best to place our money.
Evidence of this came from a recent survey that suggests 5% of the UK population prefer to store money away at home instead of putting it into a bank. With high inflation and many banks still being in the bad books for consumers it is possible to see why. However, there are alternatives.
Once you're earning, it is possible to make your earnings 'earn' a little more. Many banks are offering great rates on current accounts as well as bonds and ISAs right now, so it's time to put away the piggy bank and upgrade to a real-life high-street bank.
A great example of a hard working current account comes from Alliance & Leicester. It has a strong range of bank accounts on its website, the best of which is the Premier Direct Current Account. As long as you pay in £500 every month and you are over the age of 21 you can get 5% on balances up to £2,500. If you use the account to deposit your wages this target should be fairly easy to achieve.
If on the other hand you want a bank account to start saving some pennies for a rainy day, then Alliance & Leicester's Fixed Rate Bonds are your best bet. If your money can stay put for two years you can earn 3.5% AER on balances over £10,000.
If you start thinking about your future now, you won't have to worry about it later. Now all you need to do is ace that interview.
|
|
|
|
|