Don’t make these savings mistakes: This is Money podcast

Do you keep savings in your checking account? It’s an easy trap to fall into, with a third of people admitting to doing so in a recent survey.

If you keep a savings fund in a bank account, you are likely to lose a large portion of the interest you could otherwise earn.

But even if they don’t, there are two more mistakes people make: using convenient ‘insult’ accounts at their current bank that pay paltry interest, and not using a cash ISA and losing out on a chunk of the profits to tax.

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In this podcast, Georgie Frost, Lee Boyce and Simon Lambert discuss how to make the most of your savings and avoid filing tax returns with the bank or the IRS.

Plus, are you falling prey to spying scammers or phone thieves? Why are there more large single-family homes on the market, and how can you get Steve Webb to answer your pension question on next week’s podcast?