Maike Currie, vice president of personal finance at PensionBee, said: “Revolut’s savings challenge is a smart way to grab headlines and encourage better money habits, particularly among younger savers. Building the habit of saving matters far more than chasing the occasional windfall.
“However, young savers should look beyond the marketing. Revolut’s rates range from three per cent AER on standard plans to up to four per cent on paid Ultra accounts, which is only just keeping pace with inflation as price pressures edge higher again. The real value lies not just in saving consistently, but in securing rates that genuinely beat inflation over time, currently running at 3.3 per cent on the UK CPI measure. If your savings returns fail to outpace inflation, your money is effectively losing value in real terms.
“That is why savers should regularly shop around rather than relying on a single provider. Savings platforms such as Flagstone can help savers access a broader range of competitive accounts, because in an inflationary environment, inertia can quietly erode the real value of cash.”
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