There are winners and losers in every decision by our financial regulators so keeping interest rates low might be great for shoppers but it's bad news for savers and your pension.
So how do you make your hard-earned savings stretch that little bit further as you try to eke out your nest egg?
We've gathered together seven tips to help you make your savings go that little bit further.
Clear away any financial clutter
Tidying up your finances will make life easier.
If you have built up several pensions, ISA accounts and a handful of individual shares over the years, you may either have a complex filing system or little idea about what you have.
Dig out the paperwork on your old pensions, check whether there are any valuable guarantees or expensive penalties for switching.
If you're free to switch, consider whether it may be worth moving them into a single, more modern pension, which may be cheaper and have more investment options.
Consider giving up what you don't love ahead of what you do
The small luxuries in life, such as morning coffees and after-work takeaways, may be the obvious candidates for the chop in your new, healthier financial regime.
But, if they are a great source of joy, losing them will be a constant, ongoing battle - increasing your chances of failure.
Before you give up the things you love, it makes far more sense to give up what you don't - like paying more than you need to for utilities, or buying expensive grocery brands.
See if you could pay less simply by shopping around.
Divide your cash up into smaller portions and build a savings portfolio
It is wise to keep around up to six months of expenses in easy access accounts as an emergency fund.
Once you have that in place, for periods of between one and five years, you may want to consider looking at fixed rate bonds - which could potentially offer higher rates in return for tying your money up.
If you're saving for a longer-term goal, consider whether your time horizon and appetite for risk means some of your money could be moved into share-based investments.
Your capital will be at risk but this potentially has more opportunity for growth than cash when you are investing for five to ten years or more.
Treat yourself to a financial makeover
You may be too cash strapped for much of a social life after Christmas but, while you're cooped up indoors, this could be a great opportunity to take stock of your financial life.
Consider your overall pension and investment position.
Review how much you're paying in, whether that's enough to meet your goals, and how to free up more cash to invest.
Take a look at performance too so there are no nasty surprises waiting when you finally come to cash in your investments.
You also need to consider whether the mix is still appropriate if your circumstances have changed.
Build good and regular investment habits
Make this the year that, instead of putting off investments or rushing to meet the ISA deadline, you commit to investing little and often.
This is less painful than trying to find a lump sum.
Get your ISA into shape
There are different types of ISAs to suit different needs so consider whether your choices suit you and whether it's time to switch.
Finally, be realistic
Saying "I'm going to retire at 50" may sound great but, if you're being unrealistic, you could soon become disillusioned and run out of momentum.
Set realistic, achievable goals, build a budget around them and save a sensible, affordable sum every month.
Savings advice provided by Sarah Coles, a personal finance analyst at financial services firm Hargreaves Lansdown