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This is therefore evidence of how the money savers hold onto as cash can slowly lose its buying power over time.
In light of this, the finance expert is urging savers to consider investing as an alternative to traditional savings accounts for the time being.
Mr Ollive added: “That means that your money risks losing value in ‘real-terms’.
“In order to hold the real-term value of your savings and even grow your wealth, the value of your savings needs to be increasing at least at the same rate as inflation, or faster.
