09:47 29 April 2013
If McDonald’s recent growth increases are predictors of the economy, things should be looking better within a reasonable amount of time. While the fast food chain suffered losses across Europe and elsewhere, UK sales for the food chain actually increased by approximately 3%.
Increase in nonessentials such as restaurant cuisine portends a positive outlook for the economy. Even in economic depressions, this is proof that many people have enough room in their budget to eat out once in a while.
This could signify not only a shift in the economy, but also a perfect time to establish a savings account. What are other signifiers of a recovering economy?
You may even notice some of these in your own shopping. If you find yourself with a little bit of extra cash, consider depositing some of it in a savings account and put your money to work.
What kind of savings account should you consider?
This depends on your financial situation, and how much you’re able to deposit on a regular basis. Some accounts require you to deposit a certain amount each month. Here are the basic savings accounts:
- Cash ISA—this one has a higher rate of return than a regular savings account, but a lower rate of return than Stocks and Shares ISA. There is an annual cap on the amount you can deposit.
- Stocks and Shares ISA—typically the highest rate of return on a savings account, but also the highest risk. Since this type of account deals with investments you may risk losing everything in the account if the investments you choose don’t do well. This account also has an annual cap.
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