Regularly putting money into a savings account is "a brilliant habit", one expert has claimed.
According to Richard Brown, chief executive of moneynet.co.uk, putting as little as £10 a month into a savings account is a good start.
He said: "It's not a lot of money, but it gets you in a habit for when you are in a position of earning more money."
Someone who decides to put £25 a month into a savings account that offers ten per cent interest would end up with £330 after a year, he added.
Building up a nest egg in a savings account is "just good housekeeping", Mr Brown stated.
A recent survey by Nationwide found that while 74 per cent of people think that saving is important, only half regularly put money into a savings account.
It also found that 49 per cent of people think that it is a bad time to put money into a savings account due to the current economic climate.
Regular savings a brilliant habit, expert claims
Regular savings a brilliant habit, expert claims
Mon, 23 Jun 2008
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