What is revenge saving and could it help you build up a pot of cash?

It's the latest social media craze, allegedly... revenge saving. But what on earth is it and can it really encourage people to get into the savings habit?This week, Lee Boyce, Simon Lambert and Georgie Frost dive into the world of revenge saving.And while this new buzz-term does the rounds, we have a stab at making our version - the mind-trick savings method.We discuss why you shouldn't get hung up on saving large amounts, chasing high interest rates and to visualise money like a snowball going downhill.Meanwhile, we look at the little known government savings account that has seen £220m in bonus payments – could you benefit from opening one? A current account with a 6 per cent savings rate but it’ll set you back a whopping £17 a month - can it really be worth it? HMRC can now take money DIRECT from your bank account or Isa if you haven't paid taxes and Steve Webb answers a reader question: why can't I get my state pension on my 66th birthday?Follow us on Instagram @dmgnewmedia.Follow us on TikTok @dmgnewmediaFollow us on X @dmgnewmediaEmail us [email protected] us  020 7938 6000.Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen CraneProducer: Georgie Frost Hosted on Acast. See acast.com/privacy for more information.