Putting even a small amount of money into a savings account can help people build up a nest egg, one expert has claimed.
Hetal Parmar, manager for savings at Alliance and Leicester, points out that if someone saves £50 a month in a high-interest savings account they could end up with around £2,680 by the 2012 Olympics.
Savings of this nature can help deal with increasing fuel and food prices, he stated.
Mr Parmar said: "Even by starting with a small "warm up" amount each month, saved in a high interest account, Brits can build up a nice sum of money without breaking much of a sweat."
Savings accounts can help provide people with financial security, he added.
Yesterday, research by Yorkshire Building Society found that the average person only has enough savings left to last for 52 days if they were unable to work.
It also found that 36 per cent of people would only be able to last for 11 days.
Regular savings important, expert claims
Financial Services > Savings > Savings and Investments News
Regular savings important, expert claims
Tue, 29 Jul 2008
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