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Posted on: 04 Nov, 16

Creating the life you want

Why is holding too much in cash savings not a good idea?

Often, people find life too busy to invest properly. Some see it as complicated, time-consuming and, let’s face it, a bit boring. Many of us already hold cash savings. Keeping cash in a bank or building society can be a good idea; it’s secure and, even if the bank goes bust, you’re unlikely to lose your money because of protection in place for UK savers.

However, at the moment inflation is high and interest rates are at record lows, so the value of cash savings is actually falling as each year goes by – meaning that your money cannot buy you as much this year as it could last year.

That’s why you may want to consider other ways to make your money grow, especially if you don’t need immediate access to it. Investing in funds might offer a good way to grow your money over the long term, though there are some risks you should be aware of...

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