Money Box Live: Making Sense of Savings
Money Box
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The Cost of Living Crisis
I think everyone's facing that squeezed budget, whether it's higher energy bills, higher petrol prices or higher supermarket costs. A lot of people came out of the pandemic with big savings parts as a result of not really spending much during that period. And lots of people have now had to eat into those savings. On top of that, we're seeing lots of people overpaying on their mortgages so people might be using savings in order to overpay on mortgages. So, actually, rather than having money in low interest-paying accounts, let’s try and get that working as hard as possible to limit the impact of that inflationary pressure on savings in particular.
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