Waystosaveyourself

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media packages. Consider setting up alerts in online banking, which will text you if you run the risk of going overdrawn. like credit cards, pay them off as quickly as possible. If you have a significant balance, it may be worth switching to cut interest payments. If you switch, it’s vital to see this purely as a way of repaying debt. Don’t be tempted to borrow more. Forgetting about your savings According to a 2015 study, 80 per cent of easy access savings accounts hadn’t been switched for three years. Over time, the rates on these accounts are likely to have become less competitive – especially if a bonus was applied at the outset. How to cure the habit: Even in this era of low interest rates, it pays to make a date to regularly check what you are earning on your savings, and if the rate is no longer competitive, make a switch. start of each tax year, take stock of your savings and investments, and asking yourself whether you really need to be paying tax on them.