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Savings Week

A total disappointment...
Or have I missed something?

«134

Comments

  • I did hear a rumour that this week was savings week but there's been little evidence to back up that rumour so I'm fairly sure it could have been cancelled........unless someone else has proof it's still on going ?
  • mebu60
    mebu60 Posts: 1,728 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    I had an email from YBS.

    But I didn't read it! 
  • clairec666
    clairec666 Posts: 730 Forumite
    500 Posts Name Dropper
    It exists, but it doesn't seem to involve any amazing savings accounts being offered. Mostly consists of some articles about getting into a good savings habit, and Darlington offering drop-in appointments.

    The whole point of savings week is to encourage and educate people who aren't savvy with their savings, so we shouldn't really grumble that it hasn't produced anything for the likes of us, who are already fairly knowledgeable savers.
  • friolento
    friolento Posts: 2,678 Forumite
    1,000 Posts Second Anniversary Name Dropper Photogenic
    It exists, but it doesn't seem to involve any amazing savings accounts being offered. Mostly consists of some articles about getting into a good savings habit, and Darlington offering drop-in appointments.

    The whole point of savings week is to encourage and educate people who aren't savvy with their savings, so we shouldn't really grumble that it hasn't produced anything for the likes of us, who are already fairly knowledgeable savers.
    We have been spoiled in previous years with some juicy accounts, on which we jumped in significant numbers. Seems that gravy train is not going this year for one reason or another - may be the providers are looking for less savvy savers. Or they are just not very interested in additional capital (see the paltry £50 YBS RS)
  • subjecttocontract
    subjecttocontract Posts: 2,967 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 24 September at 11:14AM
    friolento said:
    It exists, but it doesn't seem to involve any amazing savings accounts being offered. Mostly consists of some articles about getting into a good savings habit, and Darlington offering drop-in appointments.

    The whole point of savings week is to encourage and educate people who aren't savvy with their savings, so we shouldn't really grumble that it hasn't produced anything for the likes of us, who are already fairly knowledgeable savers.
    We have been spoiled in previous years with some juicy accounts, on which we jumped in significant numbers. Seems that gravy train is not going this year for one reason or another - may be the providers are looking for less savvy savers. Or they are just not very interested in additional capital (see the paltry £50 YBS RS)
    I have a different view. There have been some fantastic offers in the previous few weeks.....think Monmouth 7%, Principality 7.5%, Darlington 6% and others, so the offers have already been made. We don't need a 'savings week' to promote savings. I've seen nothing to promote savings to people who dont, over and above the usual stuff. There seems to have been little to no effort from any providers this year. But it doesn't matter provided we still see good offers outside of savings week. Savings Week seems dead in the water.......but there are a couple of days to go yet.
  • clairec666
    clairec666 Posts: 730 Forumite
    500 Posts Name Dropper
    friolento said:
    It exists, but it doesn't seem to involve any amazing savings accounts being offered. Mostly consists of some articles about getting into a good savings habit, and Darlington offering drop-in appointments.

    The whole point of savings week is to encourage and educate people who aren't savvy with their savings, so we shouldn't really grumble that it hasn't produced anything for the likes of us, who are already fairly knowledgeable savers.
    We have been spoiled in previous years with some juicy accounts, on which we jumped in significant numbers. Seems that gravy train is not going this year for one reason or another - may be the providers are looking for less savvy savers. Or they are just not very interested in additional capital (see the paltry £50 YBS RS)
    I assume that providers that offer enticing rates on regular savers are not really aiming them at MSE-forum regular saver pros with 40 accounts to their name - they will be making a loss on our accounts while getting no loyalty in return. I do wonder if Monmouthshire knew what they were letting themselves in for!
  • SH88SH88
    SH88SH88 Posts: 25 Forumite
    10 Posts Name Dropper Photogenic
    mebu60 said:
    I had an email from YBS.

    But I didn't read it! 
    The YBS Spam Machine seems to be in overdrive for Savings Week. However, they're not (yet) offering anything new or interesting,  merely waffling about 'saving with us' etc ...
  • clairec666
    clairec666 Posts: 730 Forumite
    500 Posts Name Dropper
    When I think of people who haven’t had financial education at home or school, who are disadvantaged by their circumstances to only be able to save a very little, or who still struggle to access our digital world, I don’t consider Savings Week disappointing at all. We’re more fortunate than many and as PP have pointed out, there have been some good accounts lately.
    There is a worrying amount of people who are not particularly clued up about financial matters in general - I can't recall being taught anything at school (except for compound interest questions in GCSE maths), and any knowledge I have probably comes from my parents, or through reading up about things myself.

    I overheard a colleague this week talking about their payslip and it seems they have a complete misunderstanding of how taxation works - they assumed if they worked more than a certain number of hours they would be taxed 20% on everything, not just the amount above the threshold. A few colleagues work multiple jobs yet had never heard of tax codes and had no idea how much tax they were paying.
  • friolento
    friolento Posts: 2,678 Forumite
    1,000 Posts Second Anniversary Name Dropper Photogenic
    friolento said:
    It exists, but it doesn't seem to involve any amazing savings accounts being offered. Mostly consists of some articles about getting into a good savings habit, and Darlington offering drop-in appointments.

    The whole point of savings week is to encourage and educate people who aren't savvy with their savings, so we shouldn't really grumble that it hasn't produced anything for the likes of us, who are already fairly knowledgeable savers.
    We have been spoiled in previous years with some juicy accounts, on which we jumped in significant numbers. Seems that gravy train is not going this year for one reason or another - may be the providers are looking for less savvy savers. Or they are just not very interested in additional capital (see the paltry £50 YBS RS)
    I assume that providers that offer enticing rates on regular savers are not really aiming them at MSE-forum regular saver pros with 40 accounts to their name - they will be making a loss on our accounts while getting no loyalty in return. I do wonder if Monmouthshire knew what they were letting themselves in for!

    They wouldn't know though how many savings accounts, or how much money, any of us have. But yes, I agree, most providers are unlikely to be terribly interested in savvy savers like most of the gang on this particular part of the MSE Forum are.
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