Many savers believe that inflation will have no impact on their savings or even leave them better off. In this episode I discuss the real effect that inflation can have on your savings and what to do about it.

Key Takeaways

  • The total cost of saver inaction, if inflation continues over the next five years, could amount to 18 billion pounds.

  • Work out how much of your savings you need to put aside for easy access emergency funds.

  • Get the best interest rate you can on your savings. Remember, though, that those rates offered can drop dramatically over time, so always keep an eye and be prepared to switch when necessary.

  • Think about investing your money or topping up your pension to beat inflation.

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