We all know that the continued interest rates cuts helps those with large amounts of debt, but it clearly hinders a large proportion of those who have built up sizable savings reserves, by reducing the interest they earn.
The money sections of this weekend’s papers highlighted exactly this subject. The Mail on Sunday focused on how the rate cut will mean that interest on some accounts will be reduced (some as far as zero), whilst The Observer highlighted the potential benefits of looking for accounts that pay introductory bonuses. The Times focused on the fact that many customers are now looking online for the best savings deals, and spotlighted the launch of a new site www.maxbips.com which provides an auction site for those looking to maximize savings.
* What are your views?
* What are the keys to successful savings in this environment?
* What do you think the papers should be covering in the coming days and weeks?
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