The road to achieving something in life is never easy; however, with persistence and hard work, most aspirations can be achieved, including being a successful saver. The UK’s relationship with saving improved during the lockdowns but then retook a turn for...
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The road to achieving something in life is never easy; however, with persistence and hard work, most aspirations can be achieved, including being a successful saver. The UK’s relationship with saving improved during the lockdowns but then retook a turn for the worse when the cost-of-living crisis worsened, and prices skyrocketed. Currently, the inflation rate is 11.1% which is a 40-year high and is 11.1%. However, the Bank of England anticipates that the inflation rate will decrease drastically in mid-2023. The BoE has this perspective because of the monthly cap on energy bills for both households and businesses that the government introduced, which means that the energy cost will not increase as quickly as it has.
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