Jun 15 2007
Consumers looking to secure their own or their children's financial futures should start saving money as early as they can, according to Dax Harkins, senior savings strategist at the National Savings and Investments group.
Mr Harkins maintains that it is important for people to form a plan of action as to how there are going to save money effectively and warns that consumers need to protect themselves against the effects of a "financial emergency".
His comments come in the wake of research from the NS&I that show the majority of people in the UK do not have a savings plan in place and that 33 per cent are not concerned about their financial situations.
"There's never any guarantee that people will earn more as they get older so it's really important that people start their financial planning and start saving as early as possible," Mr Harkins remarked.
Increasingly competitive savings accounts are likely to be on the market during the coming months in Britain as the cost of borrowing continues to rise, a MoneyExpert report suggested earlier this week.
