Savers Worried as Only 3% of Accounts Beat Inflation

It’s not a good thing at all. Everything seems
to be costing much more than it did not that long ago to be honest. I expect things to be incredibly difficult
for a lot of people. It’s not a good news. Unhappy as most people I imagine. Rising inflation, it’s crazy. People are working
harder. I don’t think many of the population has actually
been impacted so far. Doesn’t really affect me. I haven’t really noticed it yet. It seems
to be a topic here in the city. You starting to see a little bit on food prices. I think it’s very worrying, particularly for
the sector that I’m in, which is, construction. Did you know only 23 of 697 savings accounts
beat the rate of inflation? Well, we hardly get any interest on our savings
account anyway which is not noticed probably. Unidentified Speaker: Well, that’s not good
news for lots of people who do save. It’s sad for savers. Obviously, our money
is not going up very much at all. It’s not unexpected. I’m not able to save that much to be honest,
so it doesn’t really have a massive impact on me at the minute, but I can imagine for
a lot of people it’s not a very good situation to be in. Based on my income and my expenses, I’m not
sure I would be able to save. We’ve got a couple of savings accounts, yeah,
but they are low interest obviously. Do you make any regular savings? Yeah, I mean, I save as much as I can, but
it’s so expensive to live here. Not as much as I probably should. I’ve got
two children, independent schools. So, yeah, most of what I earn goes out straightaway. We’re using all our ISAs up each year, my
husband and I for the grandchildren to save for the university fees. ISA account. No, I’m not aware of ISA account.
Tax-free? Tell me more about it. Tax-free? Please sign me up. Tax-free you said? To the extent that there’s money around, try
to invest in equities or in real estate, but it’s sort of just trying to be strategic about
the whole thing. I have an ISA, but it’s used more as a slush
fund than a long-term investment. With the way things are going, it’s easier I feel to
have access to your money. At least then you are in control and you know you’ve got it
if you need it for anything.

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