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Right method can ensure saving "becomes a habit"

18 March 2009

Consumers have been urged to get into the habit of saving regularly.

Nationwide noted that many people choose to put money away to prepare for expenditure such as a car or holiday, but added that it is also important to save as a precautionary measure.

With nearly a quarter of Britons found to not be putting any cash away, the bank suggested a number of methods that could prove useful.

Those who fear they would take back what they have saved if they need money at the end of the month have been advised to save a small amount each week, while set up a standing order to a savings account could help those who would forget to put anything away.

Savings and mortgages director at Nationwide Andy McQueen explained that identifying a suitable tactic could ensure saving "becomes a habit, rather than a chore".

Engage Mutual 3GB recently noted that continuing to save is important despite the low interest rates currently on offer.

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