Our Services >Private Clients >Savings

Savings

We all recognise that it is sensible to save a part of our income on a regular basis, to achieve a short or long term plan.

Why are we encouraged to save money

From childhood most of us are told to put away money to save for the future - perhaps for something special? Or perhaps to be sure that when we really need something we have the funds to acquire it, without taking on debt

Whether we place our money in a piggy bank, or in a multinational investment house, our aims are broadly the same; to provide for our future needs, and to protect ourselves against the unexpected.

When planning your finances, it is important to distinguish the difference between savings and investments. Savings are generally funds that you set aside, but can access relatively quickly. These savings are often for a specific need or purchase, like a holiday or a new car.

The most common way of saving is into a bank deposit account where the money can be accessed in an emergency, and for every £1 you put in, you will get £1 back ,short of a bank collapse, and possibly some interest.

Investments are designed to be held for a longer term, usually at least 5 years. You need to be comfortable with tying up this money for a period of time, and should not consider investments unless you have some savings in place.
Most investments are not guaranteed to return your money in full, although do offer the prospect of higher returns than deposit accounts. Returns, risk and volatility are the factors that will determine a suitable place for your savings.

Savings and Investment products range from a simple current account, which allows a small amount of interest, but allows for regular payments and withdrawals without detriment to your savings.

At the opposite end of the scale would be company shares, where you invest money in a company, with the prospect that the company will prosper and the shares will increase in value over time. Whilst the benefits are potentially high, the risks are also greater.

We will be happy to explain the risks involved in more detail.






 
The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.

The Financial Services Authority does not regulate taxation advice, will writing, debt consolidation, business risk and some forms of savings and mortgages.

Oyster Independent Financial Advisers Limited's registered address is: Media House 63 Wostenholm Road Nether Edge Sheffield S7 1LE. Registered in England: 583115

Oyster Independent Financial Advisers Limited is authorised and regulated by the The Financial Services Authority. The Financial Services Authority does not regulate taxation and trust advice and personal finance.

Oyster Independent Financial Advisers Limited is entered in the Financial Services Authority register and the registration number is 453876. www.fsa.gov.uk/register

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