There has been a substantial increase in the number of people worried about their finances over the past six months and savings are the main area of concern.

A survey by financial advice site unbiased.co.uk discovered that 47 per cent of British people are more concerned about their savings than they were six months ago.

Savings was the main worry for 40 per cent of those surveyed, 29 per cent said retirement and pension planning caused them the most concern while 29 per cent expressed a more general worry about ‘the future’.

More people are being forced to turn to credit cards to fund their purchases, especially with Christmas just around the corner.

Karen Barrett, Chief Executive at unbiased.co.uk said: “Careful planning could make a real difference to both your current financial situation and also securing your future”.

The survey by unbiased.co.uk was carried out as part of Financial Planning Week, a national consumer awareness campaign organised by the Institute of Financial Planning, which will take place from 21 to 27 November.

YouGov and NS&I will carry out a consumer Financial Planning survey as part of the campaign.

A study by Defaqto, carried out as part of the campaign, suggests that more people are seeking professional advice over their finances.

The number of people seeking professional financial advice has increased by 11% in the last year, according to the research.

However, only 36 per cent of people seek independent advice before buying financial products, leaving them at risk of buying a product which doesn’t fully meet their needs.

The Institute of Financial Planning is making free Financial Planning software available to download from its site as part of Financial Planning week and financial planning experts will be available to answer questions online.

The six-year Inflation Linked Savings Bond will pay the percentage rise in the Retail Price Index (RPI) when it matures, on top of the saver’s initial deposit.

Savers can invest between £500 to £2 million in the bond and with the RPI currently standing at 5.2 per cent while the Bank of England base rate has just been held at an historically low level of 0.5% for the 32nd consecutive month, it is likely to be a popular proposition.

However, savers should be aware that there is no guarantee that inflation will continue to outstrip interest rates and the bond will not suit people who do not wish to tie up their money for such a long period.

Santander’s Inflation Linked Savings Bond is a limited offer, so consumers should act quickly to avoid disappointment.

RBS has also launched an inflation-linked bond with a slightly longer term of seven years.

The bond pays two per cent interest plus the RPI inflation rate at the end of the term.

it will trade under a special facility called the Orb (Order Book for Retail Bonds) which has been set up by the London Stock Exchange.

This allows ordinary investors to buy and sell individual corporate bonds which are traditionally only available to institutions.

A disadvantage for cautious investors is that capital value of these bonds can fluctuate and they are not covered by the Financial Services Compensation Scheme (FSCS), so if RBS collapsed investors would lose their money.

The Post Office and Birmingham Midshires also offer products that are tied to the inflation rate.

In related news, Ana Patricia Botín, the UK chief executive of Spain-based Santander is celebrating her first anniversary as head of the bank’s British operations.

She is reported to hope to make Santander UK “become the most profitable bank in the United Kingdom by 2014”.

Campaign group Save our Savers today revealed the cost to savers of the Bank of England’s decision to hold the base rate at 0.5% for the 33rd successive month.

The group estimates that the low interest rate combined with a retail price index at 5.6 per cent, its highest level for 20 years, and a consumer prices index rate of 5.2% will cost savers £43 billion over the next year.

Save our Savers believes that the Bank of England’s strategy has caused the value of sterling to fall by 25 per cent since 2007.

According to Moneyfacts.co.uk the average new instant access account offers 0.93% interest, compared with 4.21 per cent in November 2007.

These low interest rates, together with a high level of inflation mean that it is impossible for savers to protect the value of their savings.

Save our Savers has accused the Bank of England of “failing in its statutory duty” and it wants the government to intervene.

It believes that the Monetary Policy Committee may have acted illegally in letting inflation exceed its stated target of 2 per cent.

According to analysts, an increase in the base rate is unlikely until mid-2013 in the face of the weak UK economy and the ongoing crisis in the eurozone.

In addition to maintaining a low base rate, the Bank of England pumped another £75 billion into the economy last month through its quantitative easing programme.

New figures from the ONS revealing that producer price inflation fell to 5.7% on October, compared with 6.3% in September.

The reduction in producer price inflation, which reflects the price of goods at the factory gate, together with poor September trade figures, is likely to be seen by the Bank of England as an indication that the quantitative easing programme should continue despite high consumer price inflation.

Halifax has improved its ISA offering with a better return on its five year fixed rate product.

The ISA now pays 4.4 per cent, strengthening its position as the market leading long term fixed rate ISA.

The product is an excellent option for savers who do not mind their savings being tied up for the five-year period.

However, savers wishing to make an early withdrawal will have to close the account and will lose 365 days’ interest.

A significant advantage of the new product is that transfers in from existing ISAs are accepted.

On Friday, Nationwide building society also launched a new ISA.

The building society announced a new one-year fixed term ISA offering between 3 per cent interest on balances between £1 and £9,999, 3.2 per cent on balances between £25,000 and £49,999, and 3.25 per cent on balances above this amount.

The new ISA replaces Nationwide’s 14-month Fixed Rate ISA which has now been withdrawn.

ISAs have been a great success since they were launched in 1999.

They are now second only to current accounts in terms of popularity, and it is estimated that 40% of UK households have one, with the average ISA balance being £8,505.

The annual limit for investment into an ISA is being increased to £11,280 from April next year, and up to half of this amount can be saved in a cash ISA.

The limit is being raised because of the high inflation figures recorded in September.

This month saw the launch of Junior ISAs, with an annual investment limit of £3,600 for each eligible child.

Children born on or after 3rd January 2011 and children under 18 years of age, born before September 2002, are eligible to take out the Junior ISAs.

From November 28, National Savings and Investments (NS&I) will cease selling its accounts via the Post Office.

It has been announced that the Government-backed NS&I will no longer sell investment or easy access savings accounts over the counter at the Post Office.

NS&I runs Premium Bonds and a variety of savings products.

However, from the end of the month, its savings accounts will only be available only via the post, phone or online.

The new measures will affect more than 2 million people with investment accounts and a quarter of a million with easy access accounts.

However, customers will still be able to buy Premium Bonds from the Post Office, these account for around three-quarters of all NS&I sales in Post Offices, which is why they will remain on sale there.

According to the NS&I, the changes are part of a wider plan to “simplify and modernise” its products.

Commenting on the announcement, Jane Platt, chief executive, NS&I, said: “We’re very proud of the service we deliver to savers by post, online and, in particular, via our UK call centres where staff have an average of over 24 years’ experience and are available seven days a week, 365 days a year.

“We believe their expert knowledge of NS&I’s savings and investments will help our customers transfer to dealing with NS&I directly and we will work with our colleagues at the Post Office to support our customers through the changes.”

With the historically low interest rate environment, NS&I products have proved extremely popular as savers look for somewhere to invest their cash.

Savers have suffered since interest rates were placed at the historic low of 0.5% in March 2009, when the economy was in the midst of recession.

The changes come just two months after NS&I announced its index-linked bond had been withdrawn from the market.

Rules state that NS&I must not dominate the savings and investments market.

Disability charity Scope is to launch a £20 million bond programme to produce a new source of funds for its charitable activities.

The move will see the charity become one of the first in the UK to enter the capital markets.

The charity will team up with Investing for Good, a specialist social finance intermediary, in order to pilot the scheme.

As well as Investing for Good, the Scope Bond Programme has been developed with several other City partners including Bank of New York Mellon Corporation.

The Scope Bond Programme will list on the Luxembourg-based Euro MTF stock market and follows hot on the heels of last year’s introduction of the Grangewood Venture Philanthropy Project where investors were brought in to fund the construction of homes for people with multiple disabilities.

Commenting on the programme, Richard Hawkes, chief executive of Scope, said: “The major cash investment that we hope to generate through the Scope Bond Programme has the potential to transform the support we can provide to disabled people.

“It gives us the opportunity to talk to a new and emerging network of prospective supporters and offer them an additional way of investing in Scope alongside traditional donations and philanthropic loans. This is a landmark development for Scope and could revolutionise the way we and other large charities raise finance for our work in the future,” added Mr Hawkes.

The funds raised will be used for charitable activities, rather than for commercial purposes and not only will it generate social benefits, but will bring financial returns to investors.

The launch comes after the Charities Commission, which oversees such organisations, introduced new guidelines to charities to encourage them to explore new ways of improving their financial or operational efficiency.

The prison service and other public institutions have already piloted so-called Social Impact Bonds but they have hardly been used by individual charities.

It is expected that other large charities may follow suit in order to address their funding requirements.

US banking giant Goldman Sachs has today reported a fall in third quarter profits.

Goldman Sachs, which is the US’ largest investment bank, made a net loss of $393 million (£250 million) for the third quarter compared with profits of $1.9 billion a year earlier.

The bank said trading was “significantly impacted” by the euro zone debt crisis and uncertainty in the wider global economy.

Meanwhile, group-wide revenues slumped by one third to $781 million.

Chief Executive Lloyd Blankfein commented: “Our results were significantly impacted by the environment and we were disappointed to record a loss in the quarter.”

Shares were down 2% in pre-market trading.

In the meantime, Bank of America reported a profit for the third quarter. The bank posted a net income of $6.2 billion (£3.9 billion) for the three month period, boosted by asset sales and accounting gains.

Yesterday, banking giant Citigroup reported a rise in its third quarter profit. Citigroup, which is the third largest bank in the US by assets, said third quarter profit came in at $3.77 billion, or $1.23 a share, compared with $2.17 billion, or 72 cents a share, in the same quarter a year earlier.

The bank, which received two Government bailouts in 2008, said earnings were boosted due to the bank setting aside less money to cover bad loans, while revenues were lifted by an accounting gain which banks can take when markets are in turmoil.

Meanwhile, Wells Fargo said net income was $3.84 billion, or 72 cents a share, in the third quarter, versus $3.15 billion, or 60 cents a share, in the same period a year ago.

Wells Fargo, which is the biggest mortgage lender in the US, said there had been a decline in the number of loans which had turned sour – the seventh consecutive quarter this had occurred.

Finally, JP Morgan Chase last week posted a slight fall in third quarter earnings on the back of weak investment banking operations.

The bank, which is the second largest by assets, reported a profit of $4.26 billion, or 1.02 a share, compared with $4.42 billion, or 1.01 a share, a year ago.

European equities markets were lower Monday after a spokesman for the German government said a quick solution to the Eurozone debt crisis will not emerge from a meeting of European leaders scheduled for 23 October, after a plan for a solution was discussed over the weekend by G20 finance ministers and central bank leaders.

No details of the weekend discussions were released.

The FTSE 100 was down 0.54 percent to 5,436.7 in London, while the FTSE 250 dropped 0.85 percent to 10,250.4.

Oil explorer BP (LSE: BP) added 2.2 percent and lead gains on the 100 and in the energy sector after it said Texas-based Anadarko Petroleum (NYSE: APC), which owned a 25 percent stake in the Gulf of Mexico oil rig that exploded and spilled oil into the Gulf last year, will pay to settle all claims over the spill and will drop claims of gross negligence against BP.

BP was one of three energy sector constituents to place in the top five gainers on the 100, with engineer and consultancy to the energy industry AMEC (LSE: AMEC) up 1.74 percent while Essar Energy (LSE: ESSR) added 1.42 percent, but the worst performer in the oil sector was Heritage Oil (LSE: HOIL), with a decline of 4.11 percent.

Premier Foods (LSE: PFD) was the best performer on the 250, adding 6.33 percent in a mostly lower food and beverage sector.

Security specialist G4S (LSE: GFS) was the worst performer on the 100, dropping 22.1 percent after it said it will buy Danish facilities services company ISS, also announcing that it will pay for part of the deal with a £2 billion rights issue, while travel agent Thomas Cook Group (LSE: TCG) had the worst day on the 250 with a decline of 5.44 percent.

Most miners were lower, with the worst performance in the sector coming from Talvivaara Mining Company (LSE: TALV), which was down 4.76 percent, followed by a 4.74 percent decline for Allied Gold Mining (LSE: ALD), while Centamin Egypt (LSE: CEY) led five gainers in the sector as it added 3.67 percent.

Banks were mixed, with Standard Chartered (LSE: STAN) best as it added 0.74 percent, while Lloyds Banking Group (LSE: LLOY) dropped 2.5 percent for the worst performance in the sector.

The FTSE Eurofirst 300 was down 1.04 percent to 965.38 while the IBEX fell 1.24 percent to 8,864.3, the CAC-40 was 1.61 percent lower to 3,166.06 and the DAX dropped 1.81 percent to 5,859.43.

Markets in Asia and the Pacific region were mostly higher on fewer concerns about the Eurozone economy after a meeting of the G20 finance ministers in Paris over the weekend agreed to at least part of a plan to get a handle on the region’s debt crisis and ahead of a meeting of European leaders scheduled for 23 October to further consider the issue, before a German warning not to expect a quick end to the crisis.

The Nikkei 225 was up 1.5 percent to 8,879.6 in Tokyo, while the Topix index added 1.75 percent to 761.88 and the Mothers market gained 1.07 percent to 412.15.

Carmakers saw gains as Toyota Motor (TYO: 7203) added 2.9 percent and Honda Motor (TYO: 7267) was up 3.6 percent, while game maker Nintendo (TYO: 7974) gained 3.2 percent and consumer electronics manufacturer Sony (TYO: 6758) was 5 percent higher.

Camera and optics maker Olympus Corp (TYO: 7733), however, dropped 24 percent after a report commissioned by dismissed president Michael Woodford and conducted by PricewaterhouseCoopers said there could be legal and regulatory inquiries into payments made to advisers in 2008, and after Mr. Woodford said his dismissal came because he had questioned those payments.

Elsewhere in the region, the Shanghai Composite was up 0.37 percent to 2,440.4, the Straits Times Index added 1.27 percent to 2,778.97 in Singapore, Taiwan’s Taiex was 1.4 percent higher to 7,461.12, Australia’s markets were up as the Sydney Ordinaries gained 1.61 percent to 4,337.9 and the S&P/ASX200 was up 1.66 percent to 4,275.4, the Kospi was 1.62 percent higher to 1,865.18 and Hong Kong’s Hang Seng gained 2.01 percent to 18,874.

India’s Sensex dropped 0.34 percent to 17,075.1.

New York equities markets were lower in midday trade, with the Dow Jones Industrial Average down 1.41 percent to 11,479.8 at just past 12:30 p.m. local time, while the S&P 500 had dropped 1.31 percent to 1,208.51 and the Nasdaq Composite was 1.6 percent lower to 2,625.15.

Crude oil prices were lower on Germany’s warning to not expect a quick end of the European debt crisis, with November contracts for West Texas Intermediate crude down 49 cents to $86.31 per barrel on the New York Mercantile Exchange, while Brent crude was recently reported down $1.43 to $110.80 per barrel on the ICE Futures Europe exchange in London.

Metals prices were also lower in New York, with December gold down $14.10 to $1,668.90 per troy ounce at around 12:20 p.m. local time, while Silver was 51 cents lower to $31.66 per troy ounce and copper had dropped 3 cents to $3.38 per pound.

European equities markets were higher Friday, with gains coming on hopes for a solution to the region’s debt crisis as the G20 finance ministers meet in Paris to discuss the crisis and a rescue plan that could cause holders of Greek bonds to take bigger losses.

The gains came despite the third credit rating cut in three years for Spain from Standard and Poor’s.

The FTSE 100 was up 1.17 percent to 5,466.36 in London, while the FTSE 250 added 1.06 percent to 10,338.5 as miners and oil companies saw gains on higher commodities prices.

The biggest gainers on both the 100 and the 250, however, were by investment managers, as Man Group (LSE: EMG) added 5.07 percent to lead winners on the 100, while Jupiter Fund Management (LSE: JUP) gained 9.04 percent as the best performer on the 250.

Ferrexpo (LSE: FXPO) was up 7.28 percent to lead gains in the mining sector after UBS raised its recommendation on the iron-ore miner, while copper miner Antofagasta (LSE: ANTO) added 3.71 percent, while the five decliners in the sector were led by trader Glencore International (LSE: GLEN), which was down 3.03 percent and also led declines on the 100.

Hunting plc (LSE: HTG), which supplies the gas and oil industry, led gains in the energy sector as it added 5.41 percent Goldman Sachs imitated coverage with a “buy” recommendation, followed by a 4.71 percent gain for Tullow Oil (LSE: TLW), while the two decliners in the sector were led Salamander Energy (LSE: SMDR), which was 0.49 percent lower.

Most retailer were higher, but DIY retailer Home Retail Group (LSE: HOME) was the worst performer in the sector and on the 250 as it dropped 5.18 percent, while fellow DIY retailer Kingfisher (LSE: KGF) was down 1.07 percent.

The FTSE Eurofirst 300 was up 0.84 percent to 974.46 while the IBEX added 0.36 percent to 8,975.5, the Dax was 0.89 percent higher to 5,967.2 and the CAC-40 gained 0.97 percent to 3,217.89.

Markets in the Asia-Pacific region were mixed, with more down than up after Standard and Poor’s cut Spain’s credit rating from AA to AA-minus, and after Fitch Ratings cut ratings on European banks UBS (SIX: UBSN), Lloyds Banking Group (LSE: LLOY) and Royal Bank of Scotland Group (LSE: RBS).

The Nikkei 225 was down 0.85 percent to 8,747.96 in Tokyo, while the Topix index was 1.32 percent lower to 748.81 and the Mothers market dropped 1.05 percent to 407.77.

Optics and camera maker Olympus Corp (TYO: 7733) was down 18 percent after President Michael Woodford was voted out by the company’s board and replaced with Chairman Tsuyoshi Kikukawa, while camera and copier maker Canon (TYO: 7751) dropped 2.6 percent on the possibility that it could move production of inkjet printers after two plants in Thailand closed due to flooding.

The flooding in Thailand also played a part in declines for Honda Motor (TYO: 7267), which was down 2.4 percent after output at its Malaysia plant had to be reduced after the floods interrupted its supply of parts, while Nissan Motors (TYO: 7201), which earns 15 percent of its revenues in Europe, dropped 1.7 percent on concerns about the state of the Eurozone economy.

The Shanghai Composite was down 0.3 percent to 2,431.38, Australia’s markets declined as the Sydney Ordinaries dropped 0.86 percent to 4,269 and the S&P/ASX200 was 0.92 percent lower to 4,205.6, Taiwan’s Taiex fell 0.95 to 7,358.08 and the Hang Seng was 1.36 percent lower to 18,501.8 in Hong Hong.

Gainers in the region included the Straits Times Index, which added 0.37 percent to 2,744.17 in Singapore while South Korea’s Kospi was up 0.67 percent to 1,835.4 and the Sensex gained 1.18 percent to 17,082.17 in India.

New York equities markets were up in midday trade, with the Dow Jones Industrial Average adding 0.75 percent to 11,564.6 while at the same time the S&P 500 was up 0.89 percent to 1,214.42 and the Nasdaq Composite was 0.86 percent higher to 2,642.76.

Crude oil prices were higher at 12:30 p.m. in New York as investors worried less about the possibility of a recession after the Commerce Department said that US consumers spent more as retail sales were up by 1.1 percent in September, with West Texas Intermediate crude up $2.48 to $86.71 per barrel on the New York Mercantile Exchange, while at last report Brent crude was $3.29 higher to $114.40 per barrel on the ICE Futures Europe exchange in London.

Metals prices were also up at midday in New York as December gold added $6.30 to $1,674.80 per troy ounce, December silver was up 22 cents to $31.89 per troy ounce, December contracts for copper were 10 cents higher to $3.41 per pound and three-month contracts for copper gained $235 to $7,545 per tonne on the London Metal Exchange after going as high as $7,580.25 per tonne earlier.

European equities markets were lower Thursday after a warning from the European Central Bank, which said that making financial institutions that hold Greek bonds absorb more losses could imperil financial stability in the Eurozone, while markets were also hurt by data that exports from China were up 17.1 percent in September from last year, less of a gain than expected.

The FTSE 100 was down 0.71 percent to 5,403.38 in London, while the FTSE 250 dropped 0.87 percent to 10,230.5, despite top gains on both indices that were above 9 percent.

Rolls-Royce Group (LSE: RR) led gains on the 100, adding 9,9 percent after it said it will sell its 32.5 percent stake in jet-engine joint venture International Aero Engines to aerospace manufacturer Pratt & Whitney, which already owns a 32.5 percent stake in the venture, while Premier Foods (LSE: PFD) was up 9.94 percent as the food manufacturer recovered some of its recent declines.

Banks were lower, with Barclays (LSE: BARC) leading declines in the sector and on the 100 as it dropped 7.38 percent, while Royal Bank of Scotland Group (LSE: RBS) was down 6.39 percent and Lloyds Banking Group (LSE: LLOY) was 5.48 percent lower after Fitch Ratings cut its ratings on Lloyds and RBS from A to AA-minus.

Engineering group Renishaw (LSE: RSW) was the worst performer on the 250 as it dropped 16.15 percent.

Assets managers had a hard time of it after Ashmore Group (LSE: ASHM) said that the assets under its management were down 10.5 percent in the quarter ending 30 September, with Man Group (LSE: EMG) down 4.03 percent while Ashmore dropped 4.04 percent and F&C Asset Management (LSE: FCAM) was 6.15 percent lower.

Miners were lower after metals prices declined on the news regarding exports from China, with Aquarius Platinum (LSE: AQP) down 7.17 percent to lead the sector lower, while Antofagasta (LSE: ANTO) dropped 6.34 percent and Kazakymys (LSE: KAZ) was 5.74 percent lower, although trader Glencore International (LSE: GLEN) added 2.41 percent as the best performer of three gainers in the sector.

Restaurants and pubs operator Mitchells and Butlers (LSE: MAB) dropped 6.89 percent for the worst performance in a mixed travel and leisure sector after Piedmont Inc, which already owns 23 percent of MAB’s All Bar One chain, said it won’t go forward with an offer for the company.

The FTSE Eurofirst 300 was down 1.27 percent to 964.58 while the IBEX was 0.92 percent lower to 8,943.5 and the Dax and the CAC-40 each dropped 1.33 percent, to 5,914.84 and 3,186.94 respectively.

Markets in Asia and the Pacific region were mostly higher on optimism that leaders in Europe are close to a plan to handle the debt crisis there, and after the US Federal Reserve said in the minutes of its most recent meeting that it is still thinking about further asset purchases to help the US economy.

The Nikkei 225 was up 0.97 percent to 8,823.25 in Tokyo, while the Topix index added 0.72 percent to 758.83 and the Mothers market gained 0.67 percent to 412.09, with factory equipment makers up on new data showing that machine tool orders were up 20 percent in September compared to the same month last year.

Industrial robot manufacturer Fanuc (TYO: 6954) was up 3.4 percent while Tsudakoma Corp (TYO: 6217), which makes machines to manufacture textiles, added 6 percent and lathe-maker Tsugami Corp (TYO: 6101) gained 9.9 percent.

Semiconductor-related shares saw gains on positive news from European chip-making equipment manufacturer ASML Holding (Euronext: ASML) issued a positive quarterly report and said that it expects more orders in the fourth quarter, with Tokyo Electron (TYO: 8035) up 1.4 percent while wafer-maker SUMCO Corp (TYO: 3456) added 1.9 percent, Elpida Memory (TYO: 6665) was 4 percent higher and Advantest (TYO: 6857) gained 5.6 percent.

Other gainers in the region included Taiwan’s Taiex, which was up 0.62 percent to 7,428.33, while the Kospi added 0.75 percent to 1,823.1 in South Korea, the Shanghai Composite gained 0.78 percent to 2,438.79, Australia’s markets were up as the Sydney Ordinaries added 0.93 percent to 4,306 and the S&P/ASX200 was up 0.96 percent to 4,244.5, and Hong Kong’s Hang Seng was 2.34 percent higher to 18,757.8.

The Straits Times Index was 0.14 percent lower to 2,733.97 in Singapore, while India’s Sensex dropped 0.44 percent to 16,883.9.

New York equities markets were lower at just past 12:30 p.m. local time, with the Dow Jones Industrial Average down 1.07 percent to 11,395.3 while the S&P 500 had dropped 1.23 percent to 1,192.42 and the Nasdaq Composite was 0.34 percent lower to 2,595.85.

Crude oil prices were lower after the US Energy Information Administration said that crude oil stockpiles in the US were up by 1.3 million barrels last week against an expected decline, although gasoline and distillates in storage dropped by 4.1 million barrels and 2.9 million barrels respectively.

November contracts for West Texas Intermediate crude was down $1.55 to $84.02 per barrel in midday trade on the New York Mercantile Exchange, while the latest reports showed Brent crude down $1.06 to $110.30 per barrel on the ICE Futures Europe exchange in London.

Metals prices were also lower at midday in New York, with December gold down $18.90 to $1,663.70 per troy ounce while December silver was $1.13 lower to $31.66 per troy ounce and December copper had dropped 8 cents to $3.31 per pound.