Savings: A bad week for savers, inflation to rise, interest rates fall, what are your options?

Broken Piggy Bank (on white)We all know that savers are finding it tough at the moment, but if you have money in Cash ISAs or savings accounts this week was a particularly bad one for you, with two pieces of news showing just hard things have become. Firstly, whilst it was hardly a surprise when the Bank of England announced base rate would stay at 0.5% for yet another month, the Bank ...

8 tips to help make your savings work harder

In these times of low interest rates and rising inflation it has never been more important to get your savings working as hard as possible for you. We have put together eight simple tips to help your savings do just that. 1. Minimise tax Paying less tax will mean you get a better return from your savings, but not everyone’s savings are as tax efficient as they possibly can be. Start by using your Cash ISA allowance (£5,340 in the current tax year) the interest paid on a Cash ISA is not taxed, making them an attractive starting point for most savers. Next, think about ...