Consumers are saving their pennies more than ever! Just don’t put them in a bank!

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It probably won’t come as a surprise to you that, globally, consumers are preferring to save their money rather than spend it at the moment. It’s been 10 years since the global financial crisis, and I think it’s safe to say the world has not exactly calmed down in the meantime. In a world where Donald Trump is currently facing off with North Korea, it’s also safe to say that everyone is more than a little wary about the future.

A recent study released by Nielsen (A global research company), tells us that while consumer confidence is rising, the place they’re choosing to ‘spend’ their money is the bank. Yes, that’s right, when asked where/on what are you most likely to spend your hard-earned cash, the majority answer was ‘put it in savings’.

Now, to be fair, Nielsen’s report does not really investigate what these ‘savings’ are. It could be anything, from just keeping the money in a current account or a fixed rate bond. However, it is safe to assume that the majority of those that took this survey, do not have a complex investment portfolio. Instead, what is likely to be meant by ‘savings’ is simply putting money into a savings account with whichever bank or building society is offering the best interest rates.

So, is putting your hard-earned cash into a savings account the right way to go? In the past, the default answer has always been to look for the best interest rates in various savings accounts. Place your savings there and wait for the yearly teaser interest rate to expire before moving it on elsewhere. You can, of course, still do this, but people are becoming increasingly wary of banks and current interest rates are far from appealing, especially when compared to the rate of inflation currently around.

A quick breeze through the latest comparison websites for such financial institutions gives an average interest rate of 1.25% for easy access savings and 2.45% for fixed term savings accounts. Nearly all of which now require substantial initial deposits (£1,000+). It is, then, not surprising that people are looking for alternatives. And perhaps even more surprising that so many have never heard of matched betting.

So, how much more profitable is matched betting than saving your cash the old-fashioned way? Well, below is a quick example:

Fixed Rate Bond (Al Rayan Bank – £1,000 deposit) = £1,000 x 2.04%* p.a = £20.40 per year

Matched Betting with Heads&Heads with only a £100 initial commitment = £500 per month / 20hrs = £25 per hour

Convinced?

Even though it is difficult to do a direct comparison between the two, you can see that the financial rewards of Matched Betting with Heads&Heads clearly demonstrates that the best interest rate isn’t always the best place for your money.

Many will still cry foul, claiming matched betting is not safe. If you follow the detailed instructions (and videos) by Heads&Heads, it is mathematically impossible to lose your money. But Heads&Heads understands your doubts, and answers by offering a completely free trial to Heads&Heads for two bookmaker offers. Doing these offers should net you a profit of £40 – a rate that is nearly double the money you’d make after a year on a £1000 investment in the best fixed rate bond on the market.

So, our crusade to demonstrate that there is a better way to make your money work harder than savings accounts continues. We here at Heads&Heads predict that it won’t be long before matched betting is seen at the top of lists that ask, ‘what’s the best thing to do with your money?’