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23 June 2008
A money expert has urged consumers to start regularly saving despite the credit crunch.
Chief executive of Moneynet Richard Brown suggested saving as little as £10 a month would develop "a brilliant habit" that would eventually lead to a larger nest egg.
"We looked at several accounts and if, for example, you save £25 a month with Halifax, that`s £330 with your ten per cent. 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," said Mr Brown.
"It`s just good housekeeping," he added.
Last week, Nationwide released a report revealing 74 per cent of British consumers think saving is important, while 50 per cent have a regular saving habit.
Almost a third of those questioned don`t think they will be saving enough in six months` time and nearly half (49 per cent) think now is a bad time to save for the future. 

Gregory Pennington are founder members of DEMSA (Debt Managers Standards Association).
DEMSA are the first trade body within the finance industry to successfully secure approval for its code of practice under the OFT Consumer Codes Approval Scheme (CCAS).

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