Parents 'should save for their children's future as early as possible'

British parents have been urged to access the best savings interest rates as soon as possible in order to begin saving for their children's future.

According to Family Investments, the rising cost of university education is making it "more important than ever to save".

Simon Hartshorn, marketing manager at the organisation, said that fees could be as much as £9,000 a year in the future and it can take parents a long time to build up that kind of money.

"Housing has never been less accessible to the younger generation and first-time buyers so I guess, arguably, saving has never been more important," he stated.

Mr Hartshorn advised parents to put a small amount of money aside on a regular basis to try and build a nest egg for their children.

Nationwide recently urged consumers to save as much as they can, even if it's just £10 a month to keep their savings pot ticking over.
 

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2011-03-10 11:44:09 © Moneyextra.com