We get it: saving money isn't always a priority, especially when we’re busy. But throw a broken washing machine, school trip, or surprise bill into the mix and your savings can go from healthy to under the weather quicker than you can say ‘easy access account.’
Research from the Financial Lives survey shows that 10% of adults in the UK currently have no savings at all. It's not just your financial wellbeing that takes a hit when times get tough, either. Our finances are intricately linked to wellbeing, with low financial resilience or debt significant contributors to stress, anxiety, and depression. That's why it's important to plan ahead and start saving, whether it's £1 or £100.
Choosing a savings account should be straightforward, but with so much information online it can be easy to feel overwhelmed. Even with comparison sites, search engines, and best buy tables, finding an account to fit your needs can be time consuming, and sometimes, confusing!
With so much to consider, it’s no wonder a quarter of Brits are putting any savings we do have in current accounts. While it can sometimes be easier, you might be missing out on hundreds of pounds worth of interest every year.
But what can we do about it? Enter: the humble savings review.