Although the savings account may be the safest place to keep your spendable income, it certainly does not do a great deal when it comes to growing or protecting that income. Almost all savings accounts have interest rate payouts that are lower than the inflation rate currently. Even if you compare ISA rates, you’ll find that many of them simply aren’t keeping up with the inflation rate. In real terms, you’re losing money by investing it into a savings account.
However, [...]