Be sure to spread your savings

Before the run on Northern Rock, savers were only guaranteed a small amount of their savings if a bank were to go bust.  100% of the first £2,000 of your cash back and 90% of the next £33,000.  That’s £31,700 of the first £35,000 back.  Forget about anything after that.  Now the Financial Services Compensation Scheme (FSCS) guarantees 100% of the first £35,000 of your savings back.  So if you have more than £35,000 of saving, be sure not to put all your eggs in one basket.  Read Martin Lewis’ guide on how to protect your money.