Good job Monzo to focus on Current A/c's and Overdrafts not Savings!

The ‘Savings ratio’ is at record low as disposable income keeps dropping since the EU Referendum.

For the first time since the 1970’s, UK household disposable incomes have fallen for three quarters in a row.

Source: The Office for National Statistics (ONS)

Given how low interest rates are, and how little to spare we all have after paying ever-increasing rents or house prices, it’s entirely unsurprising that savings are at an all time low. The proposed ‘pots’ feature in the Monzo app I hope will encourage many of us to save a little; if only for the next holiday or purchase.