As savings pots continue to be eroded by relentlessly high inflation, the cost of living gets even tougher.
It was announced last week that rail fares are set to increase, which will impact massively on many people's already strained monthly budgets. For example, travellers commuting between Colchester and London would need to find an extra £272 as a result of the increase.
Research from Moneyfacts has revealed that if a basic rate taxpayer were to invest £5,000 today into the current market-leading instant access savings account (2.70% from Sainsbury's Bank), they would need to invest for a period of two years and six months to raise £272 in net interest.
A higher rate taxpayer would need to invest £5,000 for a period of three years and five months to raise £272 in net interest.
Sylvia Waycot, spokesperson for Moneyfacts.co.uk, commented: "The fact that you have to invest over £37,000 to be able to spend £272 of interest highlights the constant battle anyone who is relying on interest to fund their living expenses has.
"Savings rates have been rising over the last 12 months; the problem is that regardless of the rise, most still do not beat inflation.
"Bearing in mind interest rates on savings accounts are so low, finding the additional money from savings will be as hard as getting a seat on a busy commuter train, virtually impossible."
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