With inflation running higher than the interest rates provided by most banks, cash accounts can rapidly lose value. What does that mean for emergency savings funds? Brooke Masters, the FT’s US financial editor, speaks to investing columnist Moira O'Neill, and Georgia Lee Hussey, founder of wealth management company Modernist Financial, about how much savings to have in cash and where to keep it - both in the UK and the US.

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Keep up with the latest from Brooke on FT.com and follow her on Twitter @brookeamasters


Check out Moira’a latest column here


For more from Georgia, check out the Modernist Financial website

If you’d like to talk to Claer about a future episode, please email the Money Clinic team at money@ft.com with a short description of your problem, and how you would like us to help.

Presented by Claer Barrett. Produced by Persis Love. Our executive producer is Manuela Saragosa. Sound design is by Jake Fielding and Breen Turner, with original music from Metaphor Music.

Read a transcript of this episode on FT.com

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