Save little and often, advices expert

In the current climate it can be difficult to find money to save, let alone the best savings interest rates.

However, a spokesman from Family Investments has said that the best way to overcome this issue is to no fret about saving huge amounts, but to put away a little bit as often as possible.

"Our advice is to save little and often, and to make sure your money works as hard as possible. Based on average stock market returns over the past 18 years, by putting away just £27 each month, parents could see their money grow to £10,000 over 18 years," he explained.

Although this may take a long time and can seem disheartening as the balance takes ages to increase, it is better than failing to save at all or delaying starting will make it much harder to catch up.

His comments follow research from the Co-operative Banking Group which found that a third of parents feel they cannot afford to save and 65 per cent wish they could afford to save more.

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2011-09-28 14:03:03 © Moneyextra.com