UK Saving Week 2023

With the Bank of England regularly increasing the base rate, which now sits at 5.25%, interest rates are currently the highest they have been since Feb 2008.

And while this is bad news for borrowers, especially those with a mortgage, there are steps all savers can take to make their money work harder and help offset extra costs.

However, a survey commissioned by Moneybox, to mark UK Saving Week, found many are missing opportunities to maximise the value of their hard-earned savings, despite 79% considering themselves to be confident savers.

Aston spoke to Brian Byrnes, head of personal finance for Moneybox.

Photo by Colin Watts on Unsplash