Description: Life revolves around making decisions about every aspect of life, from what food to eat, where to go on holiday, where to study, what career to pursue, and other decisions such as financial decisions. Deciding on the best saving account to open, based on your saving needs, is yet another decision that many make. According to the Bank of England’s findings, approximately more than £200bn was deposited into saving accounts since 2020s lockdowns. However, the cost of living has become more expensive through the rise in inflation, which can have a detrimental effect on several different aspects of life, such as an increase in rent, food, transport, and how much interest you make in your savings. For instance, an increase in inflation has a negative effect on interest rates, as money will decrease in value when you withdraw compared to when you first deposited the money into the account.
Tag: App for saving, Best app for finance management, smart saving account application