Savings Plans

1. Savings Plans You have won £50,000 on a charity scratch card. You have decided to spend £5,000 on some clothes, a new computer and games, and paying for a family holiday. The rest of the money you have decided to invest for the future. You are thinking that when you are at college you will want to buy a car and perhaps travel the world for a year, and then when you have finished your studies and started work you will use the rest as a deposit for buying a house Resource 4F – Savings Plans Page 1 of 7 Hampshire County Council – Consumer Education Project within the Citizenship Curriculum

2. Savings Plans How would you invest your money to ensure you are getting the best value? Resource 4F – Savings Plans Page 2 of 7 Hampshire County Council – Consumer Education Project within the Citizenship Curriculum

3. What should I consider? • Interest rates • Risk • Am I likely to need my money quickly for an emergency (easy access)? • Do I need an income from my money? • Do I want a scheme where I can’t touch my money for, say, three, four or five years? Resource 4F – Savings Plans Page 3 of 7 Hampshire County Council – Consumer Education Project within the Citizenship Curriculum

4. www.lloydstsb.com www.alliance-leicester.co.uk www.barclays.co.uk www.bristol-west.co.uk www.bankofscotland.co.uk www.halifax.co.uk Websites These websites are suggested only on the basis of their suitability for providing a research resource for this project. They are not intended to give any guidance or recommendation as to the products that are available on those sites. Those sites identified with a star are selected solely due to the fact that their format is likely to appeal to young people. Students should be given appropriate warnings about the importance of seeking expert advice before investing or borrowing money. Resource 4F – Savings Plans Page 4 of 7 Hampshire County Council – Consumer Education Project within the Citizenship Curriculum

5. Websites These websites are suggested only on the basis of their suitability for providing a research resource for this project. They are not intended to give any guidance or recommendation as to the products that are available on those sites. Those sites identified with a star are selected solely due to the fact that their format is likely to appeal to young people. Students should be given appropriate warnings about the importance of seeking expert advice before investing or borrowing money. • www.banking.hsbc.co.uk • www.natwest.co.uk • www.nationwide.co.uk • http://new.egg.com • www.askbm.co.uk Resource 4F – Savings Plans Page 5 of 7 Hampshire County Council – Consumer Education Project within the Citizenship Curriculum

6. Websites These websites are suggested only on the basis of their suitability for providing a research resource for this project. They are not intended to give any guidance or recommendation as to the products that are available on those sites. Those sites identified with a star are selected solely due to the fact that their format is likely to appeal to young people. Students should be given appropriate warnings about the importance of seeking expert advice before investing or borrowing money. • www.northernrock.co.uk • www.smile.co.uk • www.npbs.co.uk • www.sainsburysbank.co.uk • www.ybonline.co.uk • www.standardlifebank.com Resource 4F – Savings Plans Page 6 of 7 Hampshire County Council – Consumer Education Project within the Citizenship Curriculum

7. What should I consider? Prepare a list of questions that you think you should ask the manager of the bank, building society or finance company where you have decided to invest your money Resource 4F – Savings Plans Page 7 of 7 Hampshire County Council – Consumer Education Project within the Citizenship Curriculum