Don’t Make These Savings Mistakes: This is Money Podcast

Do you keep savings in your checking account? It’s an easy trap to fall into, with a third of people admitting to doing so in a recent poll.

If you keep a nest egg in a bank account, you are likely missing out on a large portion of the interest you could otherwise have earned.

But even if they don’t, people still make two mistakes: they use convenient ‘insult accounts’ with their existing bank that offer ridiculously low interest rates, and they don’t use a cash Isa, losing some of their returns to tax.

In this podcast, Georgie Frost, Lee Boyce and Simon Lambert discuss how to get more out of your savings and avoid paying tax returns to the bank or the tax authorities.

And are you not in the hands of scammers who approach you on the phone? Why are more and more large detached houses coming onto the market? And how can you make sure that Steve Webb answers your pension question in next week’s podcast?