How a savings certificate works

The short version. We spent several weeks talking to the people at the centre of this story, and checked every figure with at least two sources.

Most of the people we met had worked out their own rules long before anyone explained the official ones. Their choices were practical, sometimes cautious, and almost always shaped by family.

What the numbers say

The figures are smaller than the headlines suggest, but they add up. Small, regular amounts made more difference than any single big decision.

Fees and conditions matter more than the advertised rate. Ask for the full schedule of charges before you sign anything, and keep a copy.