Savers may need to change their attitude to risk if they are to do anything but lose money, writes Charlotte Beugge. If you have no debts, think about investing. But you should never put your money into shares unless you are aware of the risks involved – and do take good independent advice.
However, while saving money in an account is low risk, it isn’t risk free. There are now compensation schemes in place to protect your money in the event of financial failure - but nothing to stop the risk of inflation gnawing away at your money.