Saving money has been extremely tough in 2013, with one organisation suggesting that it may have been the worst year in history for those looking to put money to one side.
SavingsChampion.co.uk explained that a series of factors combined to make this year a difficult one for savers.
For instance, the fact that the base rate remains at a record low level means people are enjoying relatively small interest payments on any money they have stashed away, while competition in the savings market has seemingly dried up.
More Britons are now looking to their current accounts as a tool for building a sum of money, rather than traditional specific savings accounts.
Susan Hannums, director at the website, said: "We end the year in an unusual spot where current accounts are offering the best savings rates as best buy easy access accounts are earning just 1.60 per cent - but is the tide set to turn? Will things start to improve next year or will be have to wait until 2015?"
One thing is for sure - savers have had it tough in 2013. And that means many who are currently living in rented accommodation will have failed to save the required funds in order to think about buying their own home.
With this in mind, 2014 could once again be a great year for landlords, as plenty of individuals and families have to continue to rely on rented homes rather than join the property ladder themselves.
SavingsChampion.co.uk does expect to see some signs of improvement for savers in 2014, with announcements about rate cuts for existing accounts starting to slow and some banks and building societies offering new savings options.
This might give Britons hope that they can save with an eye to buying a home in 2015 or later, but for now renting could remain the best option.
Those landlords who have the ability to expand their portfolio may wish to think about doing so in order to cash in on any rise in renting.
Published on: December 24, 2013