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Thursday, December 23, 2010

Take control of savings in 2011 Fidelity

Take control of savings in 2011 ; Fidelity Investment Managers is urging people to take control of their savings and be money-smart in 2011. Research by the firm suggests that 52 per cent of investors want to make their money work harder for them next year but only one in nine say making the most of their tax allowances is a priority.

Over 40 per cent of people are missing out on tax breaks by not taking advantage of their ISA allowance.

The company is issuing guidance to people on making the most of their money next year, including maximising tax allowances, making clear savings plans for the future, and advising them to start saving now.

Rob Fisher, head of UK personal investments at Fidelity Investment Managers, said: "There are many things that people tend to add to their list of New Year resolutions but in the current climate it is more important than ever to move your financial resolutions up the priority list.

"Saving is achievable for many people, saving just £50 per month into a mutual fund – Fidelity UK Special Situations for example – which is roughly the equivalent of a daily cup of coffee from Starbucks or a month's gym membership – could be worth just over £9,600 if invested in the stock market over a period of ten years."

This news follows a recent study from Lloyds TSB which said that more 27 million Brits are aware of their financial situations, as 57 per cent say they are taking control of their money. For the latest updates PRESS CTR + D or visit Stock Market news Today

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