MONEY MORSELS
Cash concerns
ONE in five people has already spent their lockdown savings — with a quarter expected to exhaust the extra cash by the end of year, according to a poll by Aviva. The insurer also found that threequarters of UK adults are worried about rising living costs, with those aged 45 to 54 the most likely to be anxious about the future.
Empty shell
SHELL ENERGY has pulled all its fixed deals from the market because it cannot offer a ‘fair price’. In an online statement the supplier recommends that those looking to switch to Shell stay with their current provider. ‘You’re unlikely to find a better deal in the market right now,’ it adds.
Switching bonus
NATWEST is offering a £150 cash bonus to anyone who opens its Select or Reward accounts. New and existing customers can claim the bonus until December 2 at 5pm, using the Current Account Switch Service. They must pay £1,500 into the account and log into online or mobile banking before January 13.
Broadband bills
HOUSEHOLDS who switched broadband providers at the start of the first lockdown could end up overpaying by £354 when their contract ends, according to comparison site Uswitch. Customers on Virgin Media’s M100 Ultrafast Fibre Broadband & Phone deal pay £26 a month, but the cost almost doubles to £51 a month when the contract expires.
Children’s savings
PARENTS who invest for their children in a Junior Isa rather than Premium Bonds could save 138pc more money. If the maximum £3,600 allowance was put in a stocks and shares Jisa when it was first introduced in 2011, it would be worth nearly £10,000 now, compared with just £4,000 in Premium Bonds, according to wealth manager Quilter.
Record of note
POST OFFICES handled almost £3billion of coins and notes in September, a record figure for a single month. A total of £2.99 billion was withdrawn or deposited at Post Offices, up from £2.9 billion in August. Post Office’s Save Our Cash campaign is calling for the Government to speed up legislation to protect cash.
Tax gap
MORE than half of workers do not know how much tax is deducted from their salaries, putting them at risk of overpaying. Research by Hargreaves Lansdown suggests renters and people aged 35 to 54 are among those least likely to know what they are paying in tax.
Retirement delay
ONE in ten workers thinks they will need to stave off retirement, according to Interactive Investor’s Great British Retirement Survey. A further 20pc are likely to need to work in retirement to stay afloat.