Don’t make these savings mistakes – how to make more of your cash

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 13 September 2024

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Do you keep savings in your current account? It’s an easy trap to fall into, with a third of people admitting they do it in a recent poll.

If you do keep a savings pot in a bank account you are likely to be missing out on a big chunk of interest you could otherwise earn.

But even if they don’t do this, there’s two more mistakes people make – using convenient ‘insult’ accounts with their existing bank that pay pitiful interest and not using a cash Isa and losing out to tax.

On this podcast, Georgie Frost, Lee Boyce and Simon Lambert look at how to make more of your savings and avoid handing over returns to the bank or taxman.

Plus, are you playing into the hands of shoulder surfing fraudsters or phone snatchers, why are more larger detached homes hitting the market and how can you get Steve Webb to answer your pension question on next week’s podcast?

Transcript

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0:00.0	Welcome to This Is Money podcast, sponsored by Charles Stanley Direct.
0:06.1	I'm Georgie Frost, and joining me and Simon Lambert today is Lee Boyce.
0:10.1	And coming up, why would you keep most of your cash in current accounts, despite far better
0:16.0	savings rates elsewhere?
0:17.9	But that's what a third of us are doing.
0:19.9	Could you fall victim to shoulder-surfing fraudsters
0:22.5	on the way to work? Friend of this is money, Dave Bank of Dave Fishwick continues to lift the lid
0:27.9	on the phone snatchers rinsing our bank accounts. Also today, a surge of larger homes for sale
0:33.9	as mortgage rates fall and fears of a labour tax raid rise, and time is running out
0:38.7	for first-time buyers to save on stamp duty.
0:41.2	Plus, do you have a pensions question?
0:44.3	Sir Steve, Pensions Agony Uncle Webb, will be standing by next week, so get them in.
0:50.1	Don't forget, you can stay out to date with all the latest breaking money news, just go to
0:53.2	this ismoney.co.com or download the app.
0:56.7	Take control of your finances with Charles Stanley Direct, invest, save, coach or plan.
1:04.8	Using technology where it's helpful and people where it matters.
1:09.2	Our website and app make trading cost-effective and flexible,
1:12.6	but we're more than just an online investment service.
1:15.6	We're here for you, regardless of your financial needs,
1:18.6	or if your life takes an unexpected term.
1:21.6	Your finances, your way.
1:23.6	Take control today with Charles Stanley Direct. Sign up now. Investment involves risk.
	...

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