Experts caution that Premium Bonds winnings may lead to unexpected tax bills depending on how they’re used.
Rate cuts by more than 20 banks following the BoE move risk pushing savings returns below inflation.
The Bank of England reduced rates by 25bp to 4.0%, with a closely divided MPC underscoring policy uncertainty.
The Bank of England's Monetary Policy Committee voted to cut the base rate by 0.25 percentage points to 4.0%, marking the fifth consecutive cut in a year.
Figures reveal that traditional UK high street banks have lost an estimated £100 billion in savings as customers move their money to challenger banks and building societies.
A recent survey shows UK households saving more than any time since before the 2008 crash.
Financial educator Bola Sol recommends open budgeting and swap-days to boost savings during summer.
Raisin UK offers access to over 40 UK savings providers under one login with potential bonuses.
Stocks & Shares and Cash ISAs remain tax‑efficient saving vehicles.
Consumer site Which? highlights seven tips to slash grocery bills.
Young Londoner saved £100k by ignoring social media spending pressures.
Saga and others offering high‑interest saving accounts tailored to older savers.
Experts suggest holding at least three months of essential outgoings in savings.
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