People must maximise their savings accounts, says moneysupermarket.com

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People must maximise their savings accounts, says moneysupermarket.com

The earnings individuals receive from their savings accounts must be maximised in these difficult economic times, according to a spokesperson from moneysupermarket.com.

Head of banking at the organisation Kevin Mountford noted that the Comprehensive Spending Review announced yesterday (October 20th) is sure to have a real impact on people's wallets.

In his view, this makes it all the more important to find a savings account with a competitive return, since this could help people to build up a safety net of cash in case of an emergency or as a nest egg for the future.

"Consumers should be proactive in checking the rate they are being offered to maximise their savings pots and make every penny work harder," said Mr Mountford.

He accepted that money is tight at the moment, but stressed there are always savings to be made on various bills.

In presenting the review to the House of Commons, chancellor George Osborne described how he is bringing Britain "back from the brink" with the spending cuts.

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