FINANCE
Finance Health Check
2020
IN THE SPIRIT OF MAKING 2020 THE YEAR OF REVOLUTION, NOW IS A GREAT
TIME TO GIVE YOUR FINANCES A HEALTH CHECK – AND IMPROVE YOUR
WELLBEING AT THE SAME TIME TOO!
Whether you are starting the new year feeling the
financial blues after the most expensive month of
the year, are one of the many whose finances are or
track but are counting down the seemingly endless
days to January’s payday, are planning a long term
savings strategy, or like most of us are looking at the
future economy with a degree of uncertainty; start
this year with a finance health check. There are a
great range of financial products out there that will
make your money work harder in 2020, allowing
you to boost your savings and banish those financial
blues for good.
All of us want to have some savings stashed away
for a rainy day, and many of us will already invest
in ISA’s and savings accounts. Yet are these working
as hard as they could be for you? It is important to
regularly review your accounts. Make sure that the
introductory rate that attracted you initially hasn’t
expired, and your money is now earning a lower
percentage. Always keep your eye on the market to
see which the best products are and switch accounts
if needed. After all, you have worked hard for your
money, so it should do the same in return.
Now, we know it can be daunting when looking at
the different financial products out there. This fear
is often what causes us to stick to what we know, but
it could be costing you hundreds of pounds in the
long run. In fact, money expert Martin Lewis,
recently claimed that some people could almost
double their money by using regular savers accounts
wisely. So to help you out, we have found some of
the best savings accounts for 2020 that could see
your rainy day pot become very healthy indeed.
Top of the list is First Direct, HSBC and M&S Bank.
They offer some of the highest paying regular saver
accounts at 2.75% AER. However, these are linked
to current accounts, so are only available if you are
already a customer with these banks. As with any
financial product – always check the terms and
conditions. There are limits to how much you can
pay in and when you can access your cash.
If you don’t bank with First Direct, HSBC or M&S
Bank – don’t despair. There are other saving accounts
out there, which aren’t linked to current accounts.
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