Start saving by setting up a standing order
Help kick-start your saving with a regular standing order
Consumers should save by setting up a regular standing order to their account, according to a financial expert.
Martin Rutland, spokesman for financial services firm ING Direct, claimed that less and less consumers are starting to save due to rising living costs.
"I think that savings are under pressure because everyone gets their wage packet and they have to make the decision of how they are going to afford the rising cost of living, paying down on the credit card, and have less to put away in their savings," he said.
Mr Rutland revealed that one particularly effective method of saving is to set up a standing order from your current account to a savings account straight after pay day.
The ING Direct Consumer Savings Monitor revealed that 16.5 million Brits save up for Christmas but nearly half of these people have yet to start this year.
Furthermore, more than 1.6 million UK savers have already used all or at least some of their festive savings for everyday spending.
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