The Art of Money – Financial Therapy for Your Soul.

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Contrary to some popular misconceptions, banks do not act simply as intermediaries, lending out deposits that savers place with them, and do not depend on central bank money M0 to create new loans and deposits. Money is the most liquid asset because it is universally recognised and accepted as the common currency. In this way, money gives consumers the freedom to trade goods and services easily without having to barter.

Liquid financial instruments are easily tradable and have low transaction costs. There should be no or minimal spread between the prices to buy and sell the instrument being used as money. Currently, most modern monetary systems are based on fiat money. However, for most of history, almost all money was commodity money, such as gold and silver coins. As economies developed, commodity money was eventually replaced by representative money , such as the gold standard , as traders found the physical transportation of gold and silver burdensome.

Fiat currencies gradually took over in the last hundred years, especially since the breakup of the Bretton Woods system in the early s. Many items have been used as commodity money such as naturally scarce precious metals , conch shells , barley , beads etc. Commodity money value comes from the commodity out of which it is made. The commodity itself constitutes the money, and the money is the commodity. These items were sometimes used in a metric of perceived value in conjunction to one another, in various commodity valuation or price system economies.

Use of commodity money is similar to barter, but a commodity money provides a simple and automatic unit of account for the commodity which is being used as money.

Although some gold coins such as the Krugerrand are considered legal tender , there is no record of their face value on either side of the coin. The rationale for this is that emphasis is laid on their direct link to the prevailing value of their fine gold content. In , the British economist William Stanley Jevons described the money used at the time as " representative money ". Representative money is money that consists of token coins , paper money or other physical tokens such as certificates, that can be reliably exchanged for a fixed quantity of a commodity such as gold or silver.

The value of representative money stands in direct and fixed relation to the commodity that backs it, while not itself being composed of that commodity. Fiat money or fiat currency is money whose value is not derived from any intrinsic value or guarantee that it can be converted into a valuable commodity such as gold.

Instead, it has value only by government order fiat. Usually, the government declares the fiat currency typically notes and coins from a central bank, such as the Federal Reserve System in the U. Some bullion coins such as the Australian Gold Nugget and American Eagle are legal tender, however, they trade based on the market price of the metal content as a commodity , rather than their legal tender face value which is usually only a small fraction of their bullion value.

Fiat money, if physically represented in the form of currency paper or coins can be accidentally damaged or destroyed. However, fiat money has an advantage over representative or commodity money, in that the same laws that created the money can also define rules for its replacement in case of damage or destruction. For example, the U. These factors led to the shift of the store of value being the metal itself: Now we have copper coins and other non-precious metals as coins.

Metals were mined, weighed, and stamped into coins. This was to assure the individual taking the coin that he was getting a certain known weight of precious metal. Coins could be counterfeited, but they also created a new unit of account , which helped lead to banking.

Archimedes' principle provided the next link: In most major economies using coinage, copper, silver and gold formed three tiers of coins. Gold coins were used for large purchases, payment of the military and backing of state activities. Silver coins were used for midsized transactions, and as a unit of account for taxes, dues, contracts and fealty, while copper coins represented the coinage of common transaction.

This system had been used in ancient India since the time of the Mahajanapadas. In Europe, this system worked through the medieval period because there was virtually no new gold, silver or copper introduced through mining or conquest.

In premodern China, the need for credit and for circulating a medium that was less of a burden than exchanging thousands of copper coins led to the introduction of paper money , commonly known today as banknotes. This economic phenomenon was a slow and gradual process that took place from the late Tang dynasty — into the Song dynasty — It began as a means for merchants to exchange heavy coinage for receipts of deposit issued as promissory notes from shops of wholesalers, notes that were valid for temporary use in a small regional territory.

In the 10th century, the Song dynasty government began circulating these notes amongst the traders in their monopolized salt industry. The Song government granted several shops the sole right to issue banknotes, and in the early 12th century the government finally took over these shops to produce state-issued currency.

Yet the banknotes issued were still regionally valid and temporary; it was not until the mid 13th century that a standard and uniform government issue of paper money was made into an acceptable nationwide currency.

The already widespread methods of woodblock printing and then Pi Sheng 's movable type printing by the 11th century was the impetus for the massive production of paper money in premodern China. At around the same time in the medieval Islamic world , a vigorous monetary economy was created during the 7th—12th centuries on the basis of the expanding levels of circulation of a stable high-value currency the dinar. Innovations introduced by Muslim economists, traders and merchants include the earliest uses of credit , [37] cheques , promissory notes , [38] savings accounts , transactional accounts , loaning, trusts , exchange rates , the transfer of credit and debt , [39] and banking institutions for loans and deposits.

In Europe, paper money was first introduced in Sweden in Sweden was rich in copper, thus, because of copper's low value, extraordinarily big coins often weighing several kilograms had to be made. The advantages of paper currency were numerous: It enabled the sale of stock in joint stock companies , and the redemption of those shares in paper. However, these advantages held within them disadvantages. First, since a note has no intrinsic value, there was nothing to stop issuing authorities from printing more of it than they had specie to back it with.

Second, because it increased the money supply, it increased inflationary pressures, a fact observed by David Hume in the 18th century. The result is that paper money would often lead to an inflationary bubble, which could collapse if people began demanding hard money, causing the demand for paper notes to fall to zero. The printing of paper money was also associated with wars, and financing of wars, and therefore regarded as part of maintaining a standing army.

For these reasons, paper currency was held in suspicion and hostility in Europe and America. It was also addictive, since the speculative profits of trade and capital creation were quite large. Major nations established mints to print money and mint coins, and branches of their treasury to collect taxes and hold gold and silver stock.

At this time both silver and gold were considered legal tender , and accepted by governments for taxes. However, the instability in the ratio between the two grew over the course of the 19th century, with the increase both in supply of these metals, particularly silver, and of trade. This is called bimetallism and the attempt to create a bimetallic standard where both gold and silver backed currency remained in circulation occupied the efforts of inflationists.

Governments at this point could use currency as an instrument of policy, printing paper currency such as the United States Greenback , to pay for military expenditures. They could also set the terms at which they would redeem notes for specie, by limiting the amount of purchase, or the minimum amount that could be redeemed. By , most of the industrializing nations were on some form of gold standard, with paper notes and silver coins constituting the circulating medium.

Private banks and governments across the world followed Gresham's Law: This did not happen all around the world at the same time, but occurred sporadically, generally in times of war or financial crisis, beginning in the early part of the 20th century and continuing across the world until the late 20th century, when the regime of floating fiat currencies came into force.

One of the last countries to break away from the gold standard was the United States in No country anywhere in the world today has an enforceable gold standard or silver standard currency system. Commercial bank money or demand deposits are claims against financial institutions that can be used for the purchase of goods and services.

A demand deposit account is an account from which funds can be withdrawn at any time by check or cash withdrawal without giving the bank or financial institution any prior notice. Banks have the legal obligation to return funds held in demand deposits immediately upon demand or 'at call'. Demand deposit withdrawals can be performed in person, via checks or bank drafts, using automatic teller machines ATMs , or through online banking. Commercial bank money is created through fractional-reserve banking , the banking practice where banks keep only a fraction of their deposits in reserve as cash and other highly liquid assets and lend out the remainder, while maintaining the simultaneous obligation to redeem all these deposits upon demand.

The process of fractional-reserve banking has a cumulative effect of money creation by commercial banks, as it expands money supply cash and demand deposits beyond what it would otherwise be. Because of the prevalence of fractional reserve banking, the broad money supply of most countries is a multiple larger than the amount of base money created by the country's central bank.

That multiple called the money multiplier is determined by the reserve requirement or other financial ratio requirements imposed by financial regulators.

The money supply of a country is usually held to be the total amount of currency in circulation plus the total value of checking and savings deposits in the commercial banks in the country.

In modern economies, relatively little of the money supply is in physical currency. For example, in December in the U. Many digital currencies, in particular Flooz and Beenz , had gained momentum before the Dot-com bubble of the early s. Not much innovation occurred until the conception of Bitcoin in , which introduced the concept of a cryptocurrency. When gold and silver are used as money, the money supply can grow only if the supply of these metals is increased by mining. This rate of increase will accelerate during periods of gold rushes and discoveries, such as when Columbus discovered the New World and brought back gold and silver to Spain, or when gold was discovered in California in This causes inflation, as the value of gold goes down.

However, if the rate of gold mining cannot keep up with the growth of the economy, gold becomes relatively more valuable, and prices denominated in gold will drop, causing deflation.

Deflation was the more typical situation for over a century when gold and paper money backed by gold were used as money in the 18th and 19th centuries.

Modern day monetary systems are based on fiat money and are no longer tied to the value of gold. The control of the amount of money in the economy is known as monetary policy. Monetary policy is the process by which a government, central bank, or monetary authority manages the money supply to achieve specific goals. Usually the goal of monetary policy is to accommodate economic growth in an environment of stable prices.

For example, it is clearly stated in the Federal Reserve Act that the Board of Governors and the Federal Open Market Committee should seek "to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates. A failed monetary policy can have significant detrimental effects on an economy and the society that depends on it.

These include hyperinflation , stagflation , recession , high unemployment, shortages of imported goods, inability to export goods, and even total monetary collapse and the adoption of a much less efficient barter economy. This happened in Russia, for instance, after the fall of the Soviet Union. Governments and central banks have taken both regulatory and free market approaches to monetary policy. Some of the tools used to control the money supply include:.

In the US, the Federal Reserve is responsible for controlling the money supply, while in the Euro area the respective institution is the European Central Bank. For many years much of monetary policy was influenced by an economic theory known as monetarism. Monetarism is an economic theory which argues that management of the money supply should be the primary means of regulating economic activity. The stability of the demand for money prior to the s was a key finding of Milton Friedman and Anna Schwartz [45] supported by the work of David Laidler , [46] and many others.

The nature of the demand for money changed during the s owing to technical, institutional, and legal factors [ clarification needed ] and the influence of monetarism has since decreased. In economics, in many cases, the money can be treated as the capital. The capital markets definition includes the money markets and some other investment markets. Counterfeit money is imitation currency produced without the legal sanction of the state or government.

Producing or using counterfeit money is a form of fraud or forgery. Counterfeiting is almost as old as money itself. Plated copies known as Fourrées have been found of Lydian coins which are thought to be among the first western coins. A form of counterfeiting is the production of documents by legitimate printers in response to fraudulent instructions. Today some of the finest counterfeit banknotes are called Superdollars because of their high quality and likeness to the real U.

There has been significant counterfeiting of Euro banknotes and coins since the launch of the currency in , but considerably less than for the U. Money laundering is the process in which the proceeds of crime are transformed into ostensibly legitimate money or other assets.

From Wikipedia, the free encyclopedia. For other uses, see Money disambiguation. Anti-capitalism Capitalist state Consumerism Crisis theory Criticism of capitalism Cronyism Culture of capitalism Exploitation Globalization History History of theory Market economy Periodizations of capitalism Perspectives on capitalism Post-capitalism Speculation Spontaneous order Venture philanthropy. A supply and demand diagram, illustrating the effects of an increase in demand.

History of economics Schools of economics Mainstream economics Heterodox economics Economic methodology Economic theory Political economy Microeconomics Macroeconomics International economics Applied economics Mathematical economics Econometrics. Halfords, for one month only, has launched a new offer where you can get your next MOT test for free if you purchase any item - including air fresheners inset - from the shop either in store or online.

The MOT can then be redeemed at anytime in the next 13 months. Investors in the supermarket will be receiving an additional special interim dividend boosted by 2p, or per cent, of 3. This is more than double what the supermarket paid its investors at the same point a year ago. The prominent leave campaigner told the BBC that an anticipated hike in wage costs, interest payments and taxes could have a knock-on effect at the beer pump.

In a speech to the Central Bank of Ireland yesterday Mark Carney pictured said technological changes sweeping the world could destroy 10 per cent of British jobs. Sports Direct founder Mike Ashley has accused shareholders of stabbing him the back, triggering speculation that the billionaire may take the company private. On the final afternoon before Lehman headed for bankruptcy a decade ago, I was enjoying a family barbecue in north London.

Suddenly the mobile phone of the chef rang. Traditionally in pantomime, the villain enters stage left to a volley of boos and hisses. He snarls and sneers and despite frequent protestations is unable to elicit sympathy. Sirius Minerals is digging a mile below ground to unlock the potash bounty at the Woodsmith Mine, near Whitby and tunnelling 23 miles to the River Tees where it is building an export terminal.

The lost property policy by Arriva Trains Wales came to light when a passenger complained about the 'outrageous' system. The monetary policy committee voted unanimously for no change after increasing rates from 0. The decision comes after Chancellor Philip Hammond, confirmed this week that Mark Carney will remain the governor of the Bank of England until January The top 10 best-performing investment funds in the decade since Lehman went bust is dominated by small companies players.

Tech and Japanese funds make up the rest of the list. Estate agent trade body NAEA Propertymark surveyed more than 1, people in new leasehold houses to explore the extent of the scandal which has left thousands facing escalating ground rents, extortionate fees, and a struggle to sell their homes.

The vast majority of those surveyed, 94 per cent, said they regretted buying a leasehold, and two-thirds of these homeowners feel like they were mis-sold.

Millions of BT customers are set to have their rates rise this Sunday as the telecom giant increases it's prices for the second time this year. The winner - a building society - was rated five stars for flexibility of payments on its mortgage, and 97 per cent of customers were satisfied with their mortgage.

Barclays has launched a new savings account today which is aimed at those nearing or entering retirement, This is Money can reveal.

The three-year fixed-rate deal offers 1. The best rate on a standard easy access savings deal is 1. Fans of cheap tracker funds could lose out by shunning actively-managed funds entirely, new research from finance firm Royal London suggests. The new Active Savings service allows savers to spread their cash across multiple fixed rate accounts, moving in and out of best buy rates as they become available.

Strangely, tracker funds are unpopular with some financial advisers and investment managers. But I'm a fan and so should you be.

Trackers can be incredibly cheap, as long as you choose carefully. They have put pressure on all fund managers to reduce charges - and while you can't predict the stock market you can control your charges. Figures from the operator of the largest network of cash machines in the country, Link, revealed that 1, ATMs were axed between January to the start of July.

As many as 23 jobs will be lost when the branches close by the end of March. The closures have so far been managed without compulsory redundancies, according to Union Accord. Eventually we'll have little to no choice but to own electric cars, but a new study by the University of Leeds suggests an electric car - over a four-year period - already costs less to own when you factor in price, depreciation, fuel bills, insurance, taxation and servicing.

But there are five reasons why you might want to think twice about ditching petrol and diesel just yet. Homeowners in the North East and Northern Ireland have seen property values drop by as much as 41 per cent over the last 10 years. But the Midlands and the South have bounced back strongly - led by a turbo-charged market in London which has seen the average property rocket 60 per cent in value. This is the third increase in price from Bulb and the 41st from an energy supplier this year.

In July, there were 46, remortgages completed, marking a After she died last October, I called to close her account. When I investigated, it turned out that she had two accounts, one for her phone and broadband - which had been closed - and another for two television boxes.

A technical update to the TV Licensing website left customers' information vulnerable and meant that transactions carried out over the eight-day period were not as secure as they should have been. One firm, Nine Minute Will, has included a clause in its terms and conditions that says its parent company will be appointed as executors of a person's estate if they use their website to create a will.

Chinaware store Govier's, which opened in Sidmouth in , is expected to close by the end of the year. Owner Alan Morgenroth says high business rates are partly to blame. Eighteen months ago, changes to rates led to higher bills for more than half a million shops, restaurants and pubs, and many say a relief package has not worked,. For parents, the array of dangers posed to their families by technology is trumped by one threat above all others: So what can parents do to ensure their child is safe online?

We have has discovered that banks are routinely doubling customers' credit limits unprompted. In extreme cases, credit limits are being tripled and even quadrupled. My parents were lucky enough to buy a house in a very central part of London back in the s. It is a very lovely house and if sold would be in the upper reaches of single digit millions.

Having grown up in the house myself and now raising my son with my parents still there, I wondered if we should be doing something to hedge against inheritance taking the house away from us.

In January the best one-year fixed rate account paid 1. The gap has since widened to 0. The rate includes a bonus for the first 12 months, after which you earn 1 per cent. The top easy-access rate comes from Coventry BS at 1. Coventry BS pays a top rate of 1. The rate includes a month bonus, after that interest drops to 1. Ford Money pays 1. It is a Portfolio Isa which means savers can open more than one Isa under the same tax-free wrapper to divide cash between easy-access and fixed rates.

Tandem Bank pays a top rate of 2. You can apply online but accounts are managed via smartphone app. Gatehouse Bank pays 1. The bank is Sharia compliant and therefore quotes expected profit rather than guaranteed interest. RCI Bank pays 1. The amount you can save into a pension ultimately depends on what you can afford - but the longer you leave it the more you will need to save.

We tend to put ambitious targets on our hoped-for income in retirement and then underestimate how much we will need to set aside to achieve that. So how much should you save? Each week we pick out our favourite financial deals to slash your outgoings and make your money stretch further. This week it's savings accounts, a top travel credit card and best-buy mortgages. This is Money's top 50 - updated - money-saving tips may appear light-hearted but are deadly serious. Choosing the right DIY platform is crucial but a wealth of choice and changes to charges have left many investors scratching their heads.

We pick some of the best. We also highlight why investing in an Isa makes sense, as it should protect your hopefully growing investments from tax forever. We asked trusted experts to recommend the best funds that cover different investment sectors - and included This is Money's selection of active and passive options too. Rightly or wrongly, some people simply want a quick, straightforward route map to investing in an Isa.

To that end, this is our distilled guide to getting started. Borrowers are being offered a raft of cheap fixed rate mortgages as lenders attempt to lure them into remortgaging or buying a home.

But HSBC has decided to buck the trend and launch a new rate mortgage that is a tracker instead. We pick out the best fixed and tracker rate mortgages and look at what next for rates. Buy-to-let is much tougher than it once was. A tax crackdown on buying properties and a tax raid on the rental income from owning them has seen to that. But for many Britons the idea of investing in property still appeals, as they trust bricks and mortar and may feel that they can add value to a property.

Read our top ten buy-to-let tips. Sunday, Sep 16th 5-Day Forecast. Search All Articles Share prices. Have they learnt nothing? Tesco is poised to launch discount retail stores called Jack's - but it will operate for month without watertight protection over its trademark More than 15 complaints have already been registered in both the UK and the EU against the name and, separately, the brand's red logo. For current account rewards and interest conditions may apply eg.

Is your robo-adviser up to scratch? Which funds have done best since Lehman's collapse? How did John Lewis have nearly all of its profits wiped out in just a year? Bank of England holds interest rates steady at 0. Were leasehold homes mis-sold? New-build scandal ramps up with claim that tens of thousands were unaware of what they had bought. BT hikes costs for millions of customers from Sunday I wasn't brave enough to pile in as the financial crisis raged Five of the best current accounts Energy bills: Could you cut save by switching?

Best credit cards for spending, holidays and rewards The best mortgage rates and should you fix? Anglo Asian Mining has been through the wars, but the future is starting to look a lot brighter Anglo Asian is now producing gold, copper and silver, is one of the lowest-cost operators in the industry and about to pay shareholders a maiden dividend.

Anglo Asian Mining's future is looking brighter. MPs urge Government to provide 'full' compensation for investors still left out of pocket from near meltdown of Equitable Life In a strongly worded letter to Chancellor Philip Hammond, Bob Blackman says it is 'time the Government drew a line, by finally settling the long-running injustice of this scandal'.

High-tech companies are turbo charging US share prices - otherwise they would be in the doldrums too Were it not for the tech giants, US shares would have languished too; they would have performed much the same as the UK and European indices. A triumph of tech shares over Trump economics. Troubled DIY chain Homebase set for reprieve as landlords may relent on plans to contest store closures Property owners were given a month to challenge the retailer's plan to close 42 stores and cut rent payments at others.

Anglo Asian Mining and Dunelm. The easiest money you'll ever make Thank goodness for company dividends - a ray of sunshine in an otherwise grey financial sky In an era of economic uncertainty, it has to be reassuring for many striving to build long-term wealth that a growing income can be obtained from holding a portfolio of dividend-friendly shares. Company dividends a ray of sunshine amid rates gloom.

Online stars paid to plug products: People posting thoughts, pictures and videos turn brand tips into big business Internet sensations who have flourished this way include Tanya Burr, Zoella and her younger brother Joe Sugg, who is due to appear on this year's Strictly Come Dancing on BBC One. One of Britain's biggest online pharmacies is stockpiling up to a million Viagra pills in preparation for hard Brexit London-based Zava is the largest digital healthcare company in Europe and specialises in prescribing sexual health treatments for patients who avoid visiting their GP for fear of embarrassment.

Race driving punk rock fan who rebuilt a motor legend Palmer has to convince people Aston Martin can avoid the speed bumps of its past, which include no fewer than seven bankruptcies. City Pub Group toasts share price success The firm is expanding fast, chief executive Clive Watson is ambitious and brokers believe the shares should continue to rise.

City Pub Group toasts share price success. Trust is backing US banks to boost its resurgent share price Co-manager Nick Brind is convinced that there is more investment return to be earnt from a portfolio that is heavily skewed towards banks and the US.

Trust is backing US banks. Crispin Odey is set to become top performing hedge fund manager in Europe - two years after being worst performer His flagship Odey European Fund currently tops the leaderboard of a list of Europe's best performing hedge funds compiled by HSBC.

Lawyers should tell divorcing women to ask questions about pensions so they don't lose out on 'significant sums', urges charity Age UK says it should become the norm to discuss pensions and, wherever possible, split them fairly to stop one of the spouses - usually the woman - being left worse off in retirement.

Experts reveal mixed outlook on property market as Mark Carney warns no-deal Brexit could slash house prices by a third Surveyors' research shows a substantial regional divide in the market, while separate figures suggest transactions are picking up, even in areas like London where activity has been sluggish. We explore how to measure whether your investments have outperformed or not While a direct comparison is nigh impossible, you can get a good idea of whether your portfolio is up to scratch by measuring it up against rival offerings.

Mazda revs-up the MX Mazda revs-up the MX5. The tax trap awaiting Millionaire's Row - and how to beat it. Secrets of the Bank of Mum and Dad: Fifth of parents who give to children don't tell each sibling how much the others get Three-quarters of children feel guilty about receiving help from the Bank of Mum and Dad to help them with their finances, new figures suggest.

British families face being hit with a new 'flight tax' to help Government pay for border staff at airports Staff cuts and a surge in passengers have been blamed for delays at UK passport controls this summer. How quirky homes with rental potential are the new hot sellers Airbnb is now such a popular way of making money from your home that estate agents are selling properties based on how well they might perform on the site.

Quirky homes with rental potential are new hot sellers. Five funds to consider to get exposure in your portfolio Japan's ability to keep trading relatively freely with America is obviously very important, but domestic matters may be actually more significant from an investment perspective.

The best place to retire? How to get an MOT for next to nothing: JD Wetherspoon chief warns that the price of a pint could go up as the bargain pub chain sees costs spiral The prominent leave campaigner told the BBC that an anticipated hike in wage costs, interest payments and taxes could have a knock-on effect at the beer pump. Robots will take ten per cent of British jobs says Bank of England Governor Mark Carney, as he warns of 'fourth industrial revolution' In a speech to the Central Bank of Ireland yesterday Mark Carney pictured said technological changes sweeping the world could destroy 10 per cent of British jobs.

I've been stabbed in the back: Mike Ashley's astonishing tirade against his own firm's shareholders Sports Direct founder Mike Ashley has accused shareholders of stabbing him the back, triggering speculation that the billionaire may take the company private.

Mike Ashley's astonishing tirade. The financial system may be safer now, but cultural and ethical wrongdoings are as persistent as ever On the final afternoon before Lehman headed for bankruptcy a decade ago, I was enjoying a family barbecue in north London.

A gross betrayal of trust. Lehman Brothers ex-boss Dick Fuld - America's symbol of all that's wrong with capitalism Traditionally in pantomime, the villain enters stage left to a volley of boos and hisses. Lehman Brothers ex-boss Dick Fuld. A decade after the collapse of Lehman Brothers, is it time to back banks again? Is it time to back banks again?

Australia's richest woman steps in at Sirius Minerals. New build scandal ramps up with claim that tens of thousands were unaware of what they had bought Estate agent trade body NAEA Propertymark surveyed more than 1, people in new leasehold houses to explore the extent of the scandal which has left thousands facing escalating ground rents, extortionate fees, and a struggle to sell their homes. Claim two-thirds of buyers were unaware. BT hikes costs for millions of customers from Sunday - could you get a better deal elsewhere?

Which mortgage lender should you use? We reveal the best banks and building societies, according to their borrowers The winner - a building society - was rated five stars for flexibility of payments on its mortgage, and 97 per cent of customers were satisfied with their mortgage. Barclays launches new fixed-rate savings account allowing one withdrawal per month - aimed at savers nearing retirement Barclays has launched a new savings account today which is aimed at those nearing or entering retirement, This is Money can reveal.

Don't ONLY invest in cheap trackers: Hold a mix of active and passive funds for the best returns, says study Fans of cheap tracker funds could lose out by shunning actively-managed funds entirely, new research from finance firm Royal London suggests. Hold active and passive funds. Investing giant Hargreaves Lansdown to launch pick-and-mix savings deals in one account The new Active Savings service allows savers to spread their cash across multiple fixed rate accounts, moving in and out of best buy rates as they become available.

The Common Misinterpretation