For those looking to make serious returns, saving is often overlooked in favour of investing – but the former has two major advantages.
First, savings are protected against losses up to £85,000 by the Financial Services Compensation Scheme (FSCS), a lifeboat fund, compared to just £50,000 for investments.
Second, saved money is easier to access, as investments would have to be sold – potentially at a loss – to free up the cash.
But money left in savings doesn't have to languish in low rates. Despite recent research showing that more than £1 in every £10 saved is in deals earning nothing at all, decent returns are far from impossible.
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