Why the f you don't keep more than £85k in one bank account

Here's a wealth-building rule that keeps your money working hard AND protected.

The £85k rule

Now, you probably know about this rule, but I've come across several companies with over £85k in their savings account in the last month, so it's definitely worth a reminder.

Each bank account is protected up to £85,000 by the FSCS (Financial Services Compensation Scheme;  so if a bank gets into trouble your money is protected.

So if you've got more than £85k to save, spread it across multiple banks. Simple.

Why this matters:

When you're building serious wealth through your business, you want your money working hard for you AND staying secure. This is how you do both.

And whilst you might think it's a long shot that something could happen to your savings,  with what's going on in the banking sector right now, it's a good time to make sure you're following this rule.

Banks can and do fail - we know this!

If you're using an aggregation platform like Akoni or Flagstone:

Spreading your money dead easy - you can split say £200k across three different banks, all from one login. Each chunk earning great interest, each chunk fully protected.

The wealth-building mindset:

This isn't about worrying. It's about being smart with the wealth you're creating.

You worked hard for this money. Why take the risk? Make it work hard for you while keeping it safe.