Eight tricks to help you beat the savings drought - News Summed Up

Eight tricks to help you beat the savings drought


Here are eight tricks to help:1) Set up regular paymentsSome of the best rates are offered on regular savings accounts designed to encourage users to put aside a regular sum every month. Pick a competitive easy-access savings account, as well as a top-paying regular savings account. Then you must set yourself a reminder to make a regular monthly payment for the highest monthly amount permitted from the easy-access account to the regular savings account. Although you miss out on the tax-free wrapper with a standard savings account, most people rarely pay tax on these anyway. But the value of savings is guaranteed to fall in real terms this year as there are no savings rates that come close to beating inflation.


Source: Daily Mail May 15, 2022 10:58 UTC



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