Savings are a part of any sensible finance strategy. However, it can be confusing and sometimes difficult to keep on top of them.
Mrs Mummypenny went on: “So, I have a savings pot for the family holiday.
“I’ve got a savings pot for pension contributions, I’ve got a pot for a mortgage. I just move money into them each month.”
The expert also uses a clever roundup function when it comes to her savings.
“I’ve also got the round-up function going on as well.
They round up your purchases to the nearest pound and add the difference to a savings account.
It can also be done with Tandem and Revolut, two challenger banks.
For longer-term savings, Mrs Mummypenny did her own experiment to discover the options providing the best returns on your savings.
“I thought I’m going to actually experiment with this myself, with £1000 pounds in four different places and see actually how it grows over time.”
She shared the results after a year with Express.co.uk.