:00:11. > :00:13.This is Your Money, your weekly guide to making
:00:14. > :00:16.the most of your cash, here every weekend on BBC News, available all
:00:17. > :00:23.We're still leaving it too late to boost our retirement nest eggs.
:00:24. > :00:32.But is it worth saving up when interest rates are so low?
:00:33. > :00:35.No? Well, you're not alone.
:00:36. > :00:38.We've been finding out how not understanding financial jargon can
:00:39. > :00:40.cost you especially if you're buying a home.
:00:41. > :00:42.And in a week when private photos of Hollywood celebrities were published
:00:43. > :00:45.online we've got some useful tips to help protect your personal
:00:46. > :00:54.According to many experts, saving for your retirement is one
:00:55. > :00:58.of the most important financial plans you can make.
:00:59. > :01:01.But more and more of us are leaving it until our mid`50s
:01:02. > :01:06.New research from the Halifax shows that there's a big difference
:01:07. > :01:10.in savings between younger savers and those nearing retirement.
:01:11. > :01:19.With me now is Anna Bowes, Savings expert at SavingsChampion.co.uk.
:01:20. > :01:25.Why are we waiting so long to save? It is not really an expected, it is
:01:26. > :01:29.wrote hot at the moment so people are finding it difficult to find
:01:30. > :01:41.that `` it is tough at the moment so people are finding it difficult to
:01:42. > :01:46.find that money to put aside. The problem is that rates are low, it is
:01:47. > :01:49.a real problem. We are hoping to see that interest rates will rise and
:01:50. > :01:52.that will hopefully make it a bit more attractive for people. The key
:01:53. > :01:57.thing is to not just look at what interest rate you are going to earn,
:01:58. > :02:00.but if you put money aside every month you are going to build up a
:02:01. > :02:06.nest egg and the interest is the cream on the top. So it is putting
:02:07. > :02:08.money away to have something to rely on in the future. How do we
:02:09. > :02:13.discipline ourselves to do that happily? You have to think about
:02:14. > :02:18.that. Building a budget is a good start and then try to put some money
:02:19. > :02:22.away each one of the direct debit so it comes out like another bill. The
:02:23. > :02:26.benefit of this is that you get the money back at a later stage. And
:02:27. > :02:29.what are you seeing out there on the high Street in terms of the rates we
:02:30. > :02:33.are being offered? It does not look great when you look at some of the
:02:34. > :02:40.adverts we see on the high Street. Interest rates have plummeted
:02:41. > :02:45.without the base rate falling so it is a real shame, we need some
:02:46. > :02:49.competition back. On a normal easy access account you can get 1.4%.
:02:50. > :02:56.That is still lower than the rate of inflation. If you want to save
:02:57. > :02:59.regularly you can find plans which pay better interest and there is
:03:00. > :03:05.some linked to current accounts which can pay up to 6%, first Direct
:03:06. > :03:12.for example, you have two have a current account with them. It is
:03:13. > :03:18.also good to look at high interest current accounts like Santander, and
:03:19. > :03:22.nationwide pays 5% but again you have to follow the rules. There can
:03:23. > :03:29.be fees, etc. And use your icer, tax`free. It helps. The key is to
:03:30. > :03:37.use as many tax`free route into savings. Yes, you want to use every.
:03:38. > :03:41.You need to keep another rates. Interest rates are called `` falling
:03:42. > :03:47.on existing savings account those who important in your pocket to make
:03:48. > :03:50.sure you are earning the best rates but also to drum up to competition
:03:51. > :03:55.in the savings market which will drive interest rates back up making
:03:56. > :03:58.it more attractive for all of us. Thank you to joining us.
:03:59. > :04:01.On our last show we talked about financial education classes
:04:02. > :04:03.being taught in schools across the country but it seems
:04:04. > :04:06.Latest research shows that misunderstanding financial terms
:04:07. > :04:09.and conditions cost us grown`ups ?21 billion pounds last year alone.
:04:10. > :04:15.Our very own jargon buster Maryam Moshiri reports.
:04:16. > :04:18.You just found your dream home and are taking out a mortgage.
:04:19. > :04:20.Do you bother to read all the terms and conditions
:04:21. > :04:25.A study from the Money Advice Service revealed that
:04:26. > :04:30.misunderstanding financial terms and conditions cost us ?420 each
:04:31. > :04:34.last year and over 80% of adults in the UK admit they don't bother
:04:35. > :04:38.reading them when they take out financial products.
:04:39. > :04:40.We've become somewhat blase about terms and conditions.
:04:41. > :04:43.As we all go more digital, we tick, yes,
:04:44. > :04:46.I have read the terms and conditions box before everything, from ordering
:04:47. > :04:54.And while it doesn't matter so much, ordering a pizza, if it arrives
:04:55. > :04:57.late, terms and conditions are you still have to pay for it.
:04:58. > :05:03.It matters a lot more on a big purchase like a mortgage.
:05:04. > :05:06.A survey revealed that when taking up a mortgage, for example,
:05:07. > :05:10.many people are failing to take the terms and conditions seriously.
:05:11. > :05:14.17% of those who have taken out a mortgage previously actually
:05:15. > :05:17.bothered to read the terms and conditions.
:05:18. > :05:21.25% are unable to identify what APR stands for, and perhaps more
:05:22. > :05:26.surprising of all, 21% don't even know what a mortgage is.
:05:27. > :05:29.Taking out a mortgage for your first home is one of the biggest
:05:30. > :05:32.investments we are ever going to make so it seems quite strange that
:05:33. > :05:35.many of us don't bother to read the small print or don't educate
:05:36. > :05:39.ourselves on what the financial jargon really means. So why do
:05:40. > :05:42.the experts believe we are so unlikely to make sure we understand
:05:43. > :05:47.There's a huge amount of paperwork to taking a loan,
:05:48. > :05:54.And with increased legislation on lenders that have come into force,
:05:55. > :06:02.It's there to protect the borrower but can add to the confusion.
:06:03. > :06:05.We decided to ask some people with a mortgage whether they had read
:06:06. > :06:10.Does anybody read all that, you are just pleased to get a mortgage.
:06:11. > :06:12.Did I read the small print at the time 30 years ago?
:06:13. > :06:15.I probably didn't because we were pretty glad to get
:06:16. > :06:20.Our solicitor really made us read it, I remember that.
:06:21. > :06:23.I hate to admit it but I left it to my husband.
:06:24. > :06:25.He would have done vigorously, but other things like mobile
:06:26. > :06:33.The implications of not reading before signing on the dotted line
:06:34. > :06:38.The unexpected penalties could affect your credit rating or end
:06:39. > :06:47.If in doubt, don't be afraid to ask for help.
:06:48. > :06:49.Let's look at some other personal finance news now.
:06:50. > :06:52.Complaints about payment protection insurance have fallen by almost
:06:53. > :06:56.a third but the Financial Ombudsman says fee`paying bank accounts are
:06:57. > :07:03.The service is also seeing more complaints about payday loans.
:07:04. > :07:06.If you want to make a complaint to the Ombudsman, you can do this
:07:07. > :07:17.Royal Mail is to introduce a new Sunday service this weekend to
:07:18. > :07:20.make it easier for shoppers to receive their parcels.
:07:21. > :07:22.Customers will be able to collect packages at around 100 offices,
:07:23. > :07:24.while parcel deliveries will be made within the M25 area.
:07:25. > :07:28.Offices will open for four hours from noon.
:07:29. > :07:30.And if you're fed up using various different passwords
:07:31. > :07:33.and key cards to log on to your bank account, then things
:07:34. > :07:38.Soon you'll be able to access your details through your finger?
:07:39. > :07:42.Barclays has launched a portable scanner known
:07:43. > :07:47.At the moment just business customers
:07:48. > :07:50.have been offered the device but the bank is hoping to be able to offer
:07:51. > :07:57.And sticking with technology, this week hundreds of intimate photos of
:07:58. > :08:02.It may have left you wondering whether the various online services
:08:03. > :08:04.are safe places to share your photos or documents.
:08:05. > :08:07.So how do you stop yourself from becoming a victim and what are
:08:08. > :08:11.the best ways to protect yourself on the world wide web?
:08:12. > :08:20.Tony Neate, CEO of Get Safe Online, joins me from our Cardiff studio.
:08:21. > :08:29.Good morning. What exact he has happened here, how did this photo
:08:30. > :08:32.leak happened? I think it is down to people not safeguarding their
:08:33. > :08:36.passwords. It has been proved now that the actual companies that are
:08:37. > :08:39.hosting all of this information are very secure. Where the weak point is
:08:40. > :08:43.if some of these passwords. Passwords are now very important. It
:08:44. > :08:47.is probably one of the most major things that I talk about on a
:08:48. > :08:50.regular basis, having a secure password, like having a bunch of
:08:51. > :08:54.keys. You would not have one key for every thing you do in the world,
:08:55. > :08:59.likewise, do not have one password for everything. Certain security and
:09:00. > :09:03.different lengths of passwords for different things you do. You talked
:09:04. > :09:07.about passwords, what type passwords should we be using? First of all,
:09:08. > :09:11.one that is secure. That is as long as you can possibly make it but you
:09:12. > :09:15.need to be able to remember it. I also believe you need to be a bit
:09:16. > :09:19.pragmatic about passwords. Some people say, I'd have got so many, I
:09:20. > :09:23.cannot deal with them so I write them down. If you do, write them
:09:24. > :09:26.down in a cryptic way so you can remember what they are. But long
:09:27. > :09:32.words together so you can run them. A good tip I heard, if you are on a
:09:33. > :09:37.certain site, remember a phrase to relate to that site so you can
:09:38. > :09:42.remember the password. So do not use your wife's name or your children's
:09:43. > :09:48.name, make it more conjugated? Absolutely, and traditionally, the
:09:49. > :09:55.top passwords are password, ABC, one to three. We have got to get
:09:56. > :09:59.smarter. This is our money and our information and financial details.
:10:00. > :10:04.So we need to make sure we safeguard them. In terms of antivirus
:10:05. > :10:11.software, is it expensive? It does not have to be. There are two ways
:10:12. > :10:15.to protect ourselves, we have to protect our computers, laptops, PCs,
:10:16. > :10:21.mobile devices. All of those need security, including mobile phone.
:10:22. > :10:25.With that, you will be secure. You also need to check that you have
:10:26. > :10:29.updated your applications and operating system is. If you have
:10:30. > :10:34.done that, you're halfway. Then you have got to protect your self,
:10:35. > :10:44.knowing what the scans are, securing your password but making sure you
:10:45. > :10:47.put out information... Do not give people `` do not put information
:10:48. > :10:49.online that he would not give to someone on a bus stop.
:10:50. > :10:51.That's all from Your Money for this week.
:10:52. > :10:55.You can keep up to date all week long by clicking on the Your Money
:10:56. > :11:02.And on social media, we're on Twitter @BBCYourMoney.
:11:03. > :11:23.More next week, thanks for watching today.
:11:24. > :11:30.This is BBC News. The headlines. The parents of five`year`old Ashya King,
:11:31. > :11:35.who were arrested for removing him from hospital in Southampton, tanned
:11:36. > :11:38.take `` can take him to Prague to treat his brain tumour with proton
:11:39. > :11:41.beam therapy. After five months of fierce
:11:42. > :11:46.fighting, a cease`fire between Ukraine and pro`Russian rattles
:11:47. > :11:47.appears to be holding. And a man is appearing in court