People are hoarding cash amid economic uncertainty
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What to read right now…
It’s looking rather gloomy for the UK economy. Unemployment is up, consumer spending is down, and local councils are issuing warnings about their own “financial catastrophe”.
The solution amid economic uncertainty, for some at least, is to hoard cash.
The small bit of good news is that the government is making the mortgage guarantee scheme for first-time buyers with small deposits permanent.
Meanwhile, savers are missing out because they think switching accounts for higher interest rates isn’t worth it.
I guess it does depend on how much money you have saved, since interest income can be miniscule if your pot is small. If you are keen on switching though, here are my picks of the best savings accounts.
The deal that’s a steal…
If you’re a fan of Crocs (as in the footwear), Studio* is currently offering up to 80% off.
There are lots of options to choose from, including winter and summer versions, with prices starting from £9.50.
Some of the designs have limited sizings so you’ll need to hurry.
A word of warning about shopping on Studio: it’s one of the online retailers that charges you shipping fees when you buy the item and when you return the item.
Returns are free if the item is faulty, but if the shoe just doesn’t fit, you’ll have to pay upwards of £4.99 to return the item.
Still, if you already wear Crocs then you should be pretty comfortable with knowing how they fit.
And an actual freebie…
Did you know you can get free mini facials* at Estee Lauder beauty counters across the country?
Right now, and for a limited time only (naturally), if you book one of their 30-minute beauty sleep glow sessions, you’ll also get a sample size of their Advanced Night Repair serum* to take away.
As both the facial and the sample are free, it’s an absolute no-brainer.
I have to warn you though, the quality of the facial can depend on how bothered the Estee Lauder rep is at the time…
If you only do one thing…
Lately, Santander has been doing a shake up of their current accounts.
They’ve adjusted the cashback on their Edge accounts and scrapped 123 Lite accounts for existing customers.
If you’re currently a customer, it may well be time to investigate whether you should switch to a competitor.
