At Moneycube we believe more people should think about investing their savings.
One big reason is that it is almost impossible now to make any money by leaving it on deposit in the bank. Deposit rates continue at near-zero levels.
So your savings still have catching up to do. That might make it a good time to consider investing, rather than watching the value of your cash erode in the bank.
While your bank savings might have gone nowhere in October, there was a smidgen of good news for October inflation, with prices easing by 0.1%. A lot of the good news came from cheaper transport and clothing costs.
But compared to a year ago, inflation is up 0.6%. The main culprits here are rent hikes (5.7%), health insurance (7.6%) and the taxman’s favourite, tobacco (6.0%).
The Moneycube inflation eater shows the impact inflation is having on your savings. It’s updated each month, once the Consumer Price Index is published by the Central Statistics Office.
Get started with Moneycube today.