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top tips for saving in a slump

Published: 01/02/2009

Sunday Times (Money) – 1st February 2009

 

 

Consumers were urged last week to ditch old-fashioned savings accounts and opt for a better home for their cash, as rates continue to plummet and a growing numbers of providers introduce hidden traps.

 

Zopa.com, the “eBay of money”, cuts out the big banks by uniting borrowers with those willing to lend money in exchange for interest.

 

Andrew Hagger of Moneynet.co.uk, the financial comparison site, said:  “Through precise credit scoring Zopa has been able to avoid defaults, though these could rise as the economy sours.”

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