Q: Just before the lockdown, I heard of several overseas banks going into negative interest rates on what I imagine were deposit savings accounts. This sounds like people having to pay banks to hold savings.

Given there is very little interest on most savings accounts, and possibly more money being sloshed around to stimulate the economy, it seems we are at risk of this happening. Or perhaps we only end up with 0 per cent interest. Either way, the value of a "safe" and accessible deposit gets eaten away because of inflation.

I treat my savings account as an emergency stash, money when I need it. There might be delays getting money out of even a cash fund, let alone a term investment.

If it happens here, are there practical alternatives to savings accounts that hold their value? Cash under the mattress?

A: Let's take this one step at a time. First, are we likely to see this upside down world — with people paying banks to hold their money, and banks paying people with mortgages?


What about tax?


Moan — and stay put