Helping you Save Money in 2016
28th May 2016
HM Treasury have published a number of money saving strategies that are available this year.
If you’re saving for a deposit for your first home, you can earn a bonus with the Help to Buy: ISA. If you’re saving to buy your first home, you can put away up to £200 a month in the Help to Buy: ISA and the government will top it up by 25%, up to a maximum of £3,000. This year, if you put away £3,400 in your Help to Buy: ISA, your bonus will be £850 in December (save £1,200 in January and £200 every month after that). You can take a Help to Buy: ISA out with one of 14 providers.
Switching your bank account could save you on average £70 a year.
It’s a quick and easy way to switch your current account in 7 days – your direct debits and standing orders are transferred automatically, and there’s a switch guarantee, so you’re protected against financial loss if anything goes wrong when you switch. Over 2.25 million switches have taken place since 2013. And it’s also available to 99% of small businesses.