Millions of Britons are throwing away cash every single day by remaining faithful to bank accounts that offer virtually nothing in return. Over the course of a year — this amount compounds and can result in missing out on significant savings which could otherwise be added to your pot.
While your current account languishes there earning pennies, superior alternatives could be putting hundreds of pounds back into your pocket annually. Luckily, a personal finance expert has shared tips on how to make your money work for you.
“Most people don’t realise how much their financial loyalty is costing them,” explains Fred Harrington, personal finance expert at Vetted Prop Firms — a platform that specialises in financial market analysis and trading strategies. “The difference between a basic account and a smart account setup can easily mean upwards of £1,000 extra per year — and that’s without changing a single spending habit.
“The biggest mistake people make is thinking they need to change their financial habits dramatically to see real benefits. The truth is, the most powerful wealth-building moves are often the simplest ones — like ensuring your money works as hard as you do.”
With interest rates remaining elevated, banks persist in offering substantially superior deals to fresh customers compared to existing ones. Fred breaks down precisely how much cash people are forfeiting — and what they can do about it.
