Money saving expert Martin Lewis has urged anyone with a low interest rate on their savings account to take action. In one of his most recent snippets of advice, the personal finance guru encouraged customers to check with their bank whether they were getting the most out of their savings.
And Lewis warned that anyone stuck with an interest rate below 1.5% needed to make a change to boost their returns - as that figure was the very least savers should be getting. According to the Daily Record, Lewis said it has “never been more important to maximise every penny of savings interest” as more and more households begin to feel the squeeze of the cost of living crisis.
In the latest edition of the MoneySavingExpert.com (MSE) newsletter, the founder of the hugely successful consumer website has shared his top tips to maximise your savings pot. For many of us, we think putting money into a savings account is a job well done and forget about it until it either matures or something pops up and we need the extra cash.
