Saving Cash vs Investing - Don't Get It Wrong!

With savings rates now at the highest level in 14 years, should we be focusing on cash savings instead of risking our money in the stock market?

The brokers I use:

InvestEngine
Get a £25 bonus when you invest at least £100

Trading 212
If you do not get your free share after depositing £1. Use promo code DAMIEN, you will find it in the section with the three lines in the bottom right corner of the app.

Vanguard
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Links from this video:

Best Savings accounts:

Research materials:

Timestamps:
00:00 - Jim
00:32 - 94 years
01:32 - Huel
02:54 - The chance cash wins.
06:15 - Inflation
08:25 - MM fund
10:25 - Savings account

[grantross]

Damo, I work in finance and literacy to the masses is non existent. You're a modern day superhero, thank you.

[DEEP_PRACTICE]

Fantastic video, super clear and no nonsense. Thank-you! Subbed.

[basilfawlty]

I think you should do a short series on financial education aimed at teenagers. I can't think of anyone more humble, interesting and engaging able to capture that audience.

Do society a favour and educate! It needs it, and you're made for it!

[Brunty_Vegas]

Thank again dude you’re smashing it. Keep going! 💪🏻

[adrianellis]

Great as usual. Looking forward to this evening.

[mariGentle]

Omg you are so great. Thanks for all the info 🌝

[bradleyroberts]

Great content as always. P.s love your podcast! 🔥🔥

[slashingbison]

Glad you're doing well buddy, great advice as always.

[cornbeef]

Possibly the best mid-video advert I've seen. Knowing how they've supported you during your lowest time is really great. I'll be buying Huel sometime soon! Let us know the outcome when you can by the way.
As for savings, I'll just stick with my stocks for now and am looking to increase my monthly input soon. I'm saving as well for a deposit, but for now I'll just keep on doing what I'm doing.

[mrtuber]

The interest on debts like mortgages and credit cards is almost always higher than the interest in savings.

So if you are holding cash in savings accounts to make money and you hold debt then you are most likely losing money.

That’s not even including the negative effect of inflation.

[garrettrinquest]

I was literally wondering this yesterday. Thanks!

[danielsavage]

That Buzz Lightyear, Mrs Nesbit clip had me chuckling 😂😂

[JevansUK]

You didn't really touch on this but when people ask me for advice they are normal cash holder thinks about BTL. I think the main attraction of property is that people don't understand stock and therefore an comparing return to cash. Personally i dont like the idea of buying a second property when such a %age of my net worth is the value of my home, index funds i can buy a bit every month and i can sell a bit of them quickly, with a rental you are becoming a business not a passive investor. I always say that consistent long term investing bets the long term house price inflation. Be interesting to see if that was actually true or if I am wrong.

[ianchinsor]

Easy access savers are between 4 and 5 % now. Seems logical to keep some money stashed in an easy access for emergency/rainy day fund and keep ISA allowance for S+S

[EmilyReadsALot]

No one is doing financial education content like you. Thanks so much for always making clear, interesting videos that actually make sense! :)

[wrzlygummidge]

Good to see a genuinely nice sponsor ad, well done D!

[LB-W]

We already are Huel users. Great stuff

[Jack_Tilstone]

Great vid mate, will catch up on the live chat with pension craft on a drive to work, looking forward to it!

[SurgeEquityResearch]

Damien, I’d love to see a video on some of the unqualified finance content creators online. Ones who give out advice to individuals, but then tag their videos as “not financial advice” & the trading courses etc.

TikTok is crawling with them, and the type of tips they’re giving out & the returns they are promising are completely illegal yet ignored. I’d love to hear your perspective and think it could make a great video😊!

[TheInvestingVlogger]

Great video as always. You should do a video comparing Stocks v Property v Gold. Looking forward to your collab with Ramian!👍