Happiness, easier to get!

After facing hard times of economic downturn in the past few years, people seem to be happier with a smaller balance on their bank accounts. According to a British survey the price of happiness has been reduced during the financial crisis. The number of people having an increase of happiness after saving £ 5000,  has risen from 66 % six year ago, to a level of 82 % today! Another remarkable and maybe less favourable perception the study has revealed, is the fact that nowadays only a third of people could pay off their debts with an amount of £ 5000 or less. (Telegraph)

Jolien Nachtergaele

Scottish men are better in saving than women

It has been investigated by the bank of Scotland that the average Scottish male have improved a lot in saving money than the Scottish female. The results of the Scottish bank survey shows us that only 33% of the women have a savings account compared to 36% of men.

Furthermore, the survey has also neared down that current accounts are much more popular than the other accounts.  Being used by either the male and the female account holders  (as  92% of male and 89% of female). Moreover, some women are complaining that they don’t have the time to open a saving account and the other are saying that they lack the knowledge to open an account. 

Davit Melik

http://www.bankingtimes.co.uk/2010/10/06/scottish-men-are-better-savers-than-women/

People without web 'missing out' on finance deals

People have the best rates for financial products, if they use online banking accounts. A person who always use the online banking services gain an advantage till 37% a year by comparison with a non-online banker. Even if you take an online travel insurance, it's around four times cheaper than a deal in a store. But for some people the internet is too complicated or they aren't comfortable using the internet, giving those people support in the store could be a solution.( http://www.independent.co.uk/money/spend-save/people-without-web-missing-out-on-finance-deals-2090153.html)

Bram T'Hooft

How to push your students away?

Since tuition fees are getting higher and top degrees aren’t even guaranteeing a place at a UK university anymore, more and more students are seeking for universities abroad, and discovering they are often much cheaper. Studying at a UK university has never been this expensive, with an unwilling consequence that more students will go study abroad, leaving the very selective UK universities behind. Some overseas universities are even paying transport costs, and students often find themselves with less additional costs for example lower costs for food and living. Their first choice however will remain a UK university, due to their friends and family they want to stay close to, but social networks like Skype and Facebook are starting to resolve even this barrier. (The Guardian)

Corien Staels

Errors in switching accounts put off customers

Because off fear for errors, people are afraid to switch current account providers.

Three out of four bank costumers, who hadn't considered switching accounts, fear extra costs when errors occur, 44 per cent of the costumers who decide to switch accounts have experienced problems.

According to Sarah Brooks, the head of financial services at consumer focus, people have to start switching accounts to make sure banks improve their performance. To make sure this happens, switching current account has to be promoted. (The Independent)

Hannes Ryheul

China limits bank lending

The Chinese government has told the biggest banks to increase reserves by 0.5 percentage points to 17.5% of their deposits. The order applies for four major banks and two smaller ones. In total they own 55% of all China's bank deposits. The reason is that China wants to control and cool down the inflation and housing prices, so that the recovery from the global crisis wouldn't be derailed and get off track. The total amount banks will be allowed to lend will be 7.5 trillion yuan which is lower than last year's 9.6 trillion yuan record.

Simon Rosseel

http://www.cnbc.com/id/39625003

Tax-free children's savings account?

In the UK, the government is considering to make children's savings account tax-free. This initiative will have to encourage families in all layers of society to save more, not only for their children but even for themselves. The Treasury needs to have an advantage in this proposition as well, to reduce costs, they will stop giving vouchers when children reach their 7th birthday. By the beginning of next year, the new measurement could probably be introduced for all children, including those who already have an account.

Kevin Rokegem

Source: The guardian