Consumers should be financially careful in 2008 and start saving money or putting aside more, according to the chief executive of the British Bankers' Association (BBA).
Angela Knight said saving money is one of her top tips for staying in control of finances during 2008, which is predicted by economists to be a "difficult year".
"Start to save or save a bit more," she said, adding that savers can take advantage of some good offers "as banks compete for your cash ".
Other tips offered by the BBA chief executive include keeping an eye on spending and being careful with credit cards .
She also warned consumers not to ignore bills and that they should arrange to pay monthly where possible in order to spread the cost and budget more cleverly.
Those struggling financially are being urged by Ms Knight to discuss the situation with their bank "sooner rather than later".
Finally, the BBA chief executive says Britons should combine "a bit of old-fashioned common sense" with "some much maligned prudence" in order to enjoy a prosperous 2008.
Julia Harris of Moneyfacts.co.uk echoed Ms Knight's sentiments by saying that consumers should get prepared for a "rough ride" in terms of personal finances during this year.
BBA urges people to start saving money
BBA urges people to start saving money
Wed, 02 Jan 2008
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