Transcript
Your savings are more than just numbers – they’re a reflection of the life you want to build.
Here are six steps to make sure your savings are working for you and supporting your future.
1. Check your savings at least keep pace with inflation – but aim higher. If your rate is lower, your money is losing value, so it’s worth exploring better options.
2. Keep your savings safe by having no more than £85,000 with one bank.
3. Look at your interest rates every 6-8 weeks. Non-fixed rates change often, so keeping tabs can help you get the best return.
4. Use a savings calculator to see how much more you could be earning elsewhere. You might be surprised by what you're missing out on.
5. Be sure to have a mix of long- and short-term savings accounts. Fixed Term accounts usually pay higher interest, so lock away as much as you can to grow your money faster.
6. Have some cash easily accessible for unexpected costs. A healthy emergency fund should cover three to six months of living expenses.
