It’s now more expensive to have a cup of tea, an ice-cream, a beer, get a train, go on holiday, buy shoes, eat pizza and play sport. As inflation spirals above 10%, life costs a lot more than it did a year ago, so it is time to make whatever money you have in the bank work as hard as possible.
While the cost of living has gone up, so have the interest rates on bank and building society accounts, so savers can finally see a better return on their cash after a decade in the doldrums. “The key is to make the most of your money now,” says Sarah Coles, personal finance analyst at investment firm Hargreaves Lansdown.
