Unite union voices discontent regarding selection process

Figuring out the best options in a dispute, or in our personal finances can be challenging.

09:17 02 July 2013

In the latest political issue Unite union is threatening some legal action regarding the selection process of suitable candidates to take the place of Eric Joyce who resigned in March after admitting to assaulting four people in a bar. The newly imposed measures simply restrict eligible candidates to ones who were members before the date that Eric Joyce stepped down.

Sometimes it can be difficult to determine what the best course of action is. When it comes to our finances, for example, we might have difficulty deciding what type of savings account we should open. Here are a few tips to help you choose an account that will work best for your needs.

• Consider the purpose—you may have a particular plan for establishing a savings account such as an initial payment on a home or a vehicle loan. Perhaps you simply want emergency funds, or maybe you’re thinking about the future and want to ensure that you have enough funds for your retirement.

 

• Research savings account options—there are a few different types of accounts, so familiarize you with the different pros and cons of the accounts. There are Cash ISAs and Stocks and Shares ISAs, but there is also a regular savings account. The main differences are in the amounts you are allowed to save each year, and in the interest rates.  If you are saving for a child or grandchild, you may qualify to open a Junior ISA.

 

• Consider additional information—make sure you consider a variety of factors in your decision, including interest rate, applicable fees, how easy it is to access the money, how the savings will be affected by tax laws, how much it costs to open the account and whether or not there are monthly deposit requirements, or amount requirements for a savings account.