The Money Gains Podcast Warning: Cash ISA Changes Will NOT Boost UK Investment (Rajan Lakhani - Plum)
Nov 12, 2025
Rajan Lakhani, Head of PR & Comms at Plum, shares insights on how proposed Cash ISA reforms may fail to enhance UK investment. He discusses the psychological barriers preventing people from saving and how Plum’s automation addresses this. Rajan emphasizes the importance of small wins and gamification in building sustainable saving habits. He critiques the cultural aversion to investing outside pensions, revealing that many Brits keep idle cash rather than investing. Ultimately, he argues for better incentives and education over simple ISA changes.
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Psychology Blocks Saving
- People struggle to save due to psychological biases: present bias and low confidence about where to start.
- Automation (like Plum's rules) removes effort and bridges intention to action.
Automate Small Savings First
- Connect your bank to an automation app and let algorithms set affordable saves for you.
- Keep control by adjusting amounts if a rule puts away too much.
Build Habits With Tiny Wins
- Start with tiny, achievable savings and publicly commit to build habit momentum.
- Track three months to lock the routine and scale amounts gradually.