Growing up, the first bit of financial advice our parents gave us was probably to save money – and as much of it as possible for a rainy day.
As grown-ups, we go to work, try to climb the corporate ladder and each month, sock away a percentage of our salary in a savings account. This all sounds great, until you realise that while you’ve been hard at work, the money in your bank account has been collecting digital dust – especially over the past year when interest rates have plunged.
Idle cash as its name suggests, is cash that is not meaningfully earning you any interest or investment income.
