Savvy teens are money wise

Today's teenagers are more financially-aware than they are often given credit for. Ruth Jackson explains why, and rounds up the rest of the week's money-saving tips.

A NatWest survey has found that families have an under-used source of money-saving advice under their roof teenagers, says Huma Qureshi in The Observer. "This recession-hit generation of teens is more financially savvy than they are usually given credit for." According to the survey, 86% of 12 to 19-year-olds say they keep track of their money, 68% are confident managing their cash flow and 33% say they are trying to save for their future.

Close Brothers has launched a three-year Premium Gold Bond with a market-leading rate of 4.75%, says Michelle Slade in The Daily Telegraph. Savers can also lock up their cash for a shorter period at 4.5%, with the bank's two-year Premium Gold Bond. The minimum investment is £10,000.

Leeds Building Society has hiked the rate on its five-year, fixed-rate Isa to 4.05%, making it the market leader. It accepts transfers in and, unlike many other fixed-rate investments, allows savers to make penalty-free withdrawals of up to 25% of the original investment.

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With hayfever season upon us, how can sufferers cut the cost of antihistamines? If you live in Wales, where prescriptions are free, then ask your doctor to prescribe you some. If you live in Scotland or Northern Ireland it's probably also worth getting a prescription, as charges are £4 and £3 respectively. In England, you're better off sticking with over-the-counter pills because prescriptions cost £7.20.

But rather than buying them in your local chemist, shop around online. sells 30 days of allergy relief tables for 69p a huge saving on Boots's own brand, which costs £3.81 for the same quantity (based on Boots's current buy one, get one free deal).

You may be able to recoup some of the costs of your holidays with Simonseeks. com, a website set up by Simon Nixon, the founder of Money supermarket. It runs along the same lines as TripAdvisor. com. Members of the public upload their own reviews and photos of hotels and resorts they have stayed in. The difference with is that reviewers will receive 50% of the commission the site earns through click-throughs to booking sites from their reviews. It won't turn you into a millionaire, but "if you write two or three guides every year and they are really good guides you'd probably pay for your holiday from it", Nixon tells The Guardian.

The test case over unfair bank charges has returned to court this week with the banks appealing in the House of Lords against the decisions in the High Court and Court of Appeal that fairness laws apply to unauthorised overdraft charges. With all previous courts finding against the banks, it's unlikely the House of Lords will find in their favour. For how to file a claim, see

Ruth Jackson-Kirby

Ruth Jackson-Kirby is a freelance personal finance journalist with 17 years’ experience, writing about everything from savings accounts and credit cards to pensions, property and pet insurance.

Ruth started her career at MoneyWeek after graduating with an MA from the University of St Andrews, and she continues to contribute regular articles to our personal finance section. After leaving MoneyWeek she went on to become deputy editor of Moneywise before becoming a freelance journalist.

Ruth writes regularly for national publications including The Sunday Times, The Times, The Mail on Sunday and Good Housekeeping, among many other titles both online and offline.