Consumers know many money saving tips, but very few take heed of their advice when it comes to managing their own finances, reveals a new survey.
Approximately one in five of the people questioned in a survey by the investment company Scottish Widows said the best way to ensure a healthy savings account was to save little and often.
A similar number of those questioned said it was important to save for the purchases they wanted and make sure they had a savings account kept for a rainy day.
Just over ten per cent said keeping away from credit cards was also a good way to boost a savings account.
However, in stark contrast to these thrifty words of wisdom is the statistic that 62 per cent of adults are saving little or nothing, with almost half saying their savings habits have not improved with age.
Anne Young, a savings expert from Scottish Widows, says that it is vital for consumers to get into a savings routine as quickly as they can by just putting a small amount of money into a savings account each month.
"Our research shows that people do have some very good tips on good savings habits, but few are actually putting these tips into practice regularly," she said.
"Saving little and often is a great way to start to improve our savings habits."
Consumers not heeding own savings advice, new research suggests
Financial Services > Savings > Savings and Investments News
Consumers not heeding own savings advice, new research suggests
Wed, 22 Mar 2006
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