Young people should be regularly putting a sum of money in to a savings account, one expert has claimed.
Anne Young, savings expert at Scottish Widows, explained that even by putting a small amount of money in a savings account each month, people will soon build up a sizable nest egg .
Ms Young said: "I'm a big fan of putting money away regularly. I love direct debit - it whisks it out of your bank account before you've even realised it's there in the first place."
She added that people should resist the temptation to dip into their savings account as doing so would hinder them as they aimed to save for the future.
According to research conducted by Scottish Widows, 42 per cent of children have borrowed money from their parents to pay off debts .
It also found that just under half of parents think it will be more difficult for their child to save for a pension than it was for their generation.
Young urged to put money in savings accounts
Young urged to put money in savings accounts
Thu, 27 Mar 2008
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