Tip: Check your saving account rates and if they are derisory, move on. Look for the latest saving deals.

Savings

A bank adviser was recently caught out in a Which? investigation when he told the undercover researcher: "Let's face it, the major banks aren't going to go under."

Employees who worked at Lehman Brothers would testify otherwise and it makes sense to take any risk of it happening on British soil out of the equation.

So don't hold more than £85,000 with any one banking institution: this is the maximum that the Financial Services Compensation Scheme (FSCS) would repay should a bank go under. This is a per-person limit, so those with joint accounts can have up to £170,000 fully protected by the FSCS.

Remember that many banking institutions, such as Lloyds, run more than one brand – but most will cover only a maximum of £85,000 across the group.

Tip: The number of savings accounts paying interest of 0.1pc has increased by 23pc over the past year, according to Which? Check your rates and, if they are derisory, move on. See page 9 for the latest savings deals.

http://www.telegraph.co.uk/finance/personalfinance/investing/8932939/Eurozone-crisis-surviving-the-second-credit-crunch.html