UK Money News
10th December 2007
Creating savings 'requires discipline'
Saving money is a discipline which people must develop the habit of following if they are to improve their personal finance situation.
Such is the opinion of Baronworth Investment Services, which says that many people fail to save because they don't make use of the help with money available.
For instance, many of those intending to save by making physical deposits on a monthly basis simply fail to remember to do so.
This problem could be avoided if they set up a direct debit to transfer the money from their current account.
Colin Jackson, director of Baronworth, said: "Once you're into the discipline it becomes part of your general overheads and as far as the money in the bank goes you just pay your savings in each month."
The money news follows other personal finance data from Credit Action which suggests that, at the end of October, the total consumer debt in the UK stood at £1,391 billion.
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