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Saving tips for 2012
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What the biggest barriers to saving money?


What the biggest barriers to saving money?

"Affordability" is the biggest barrier we face when wanting to save money says Jane Heyman, a chartered financial planner from McCarthy Taylor.

Frederic Nze agrees, "monthly outgoings, such as bills, rent and food, prevent people from saving as much money as they might like to."

As Nze points out emergencies in the home such a boiler breakdown or a burst pipe are unavoidable expenses which hurt savings - but they're the very reason why savings are a must-have!

John Lawson, Standard Life, thinks our own behavior is also preventing us from making any significant savings.

"There is always an excuse" agrees Heyman, "Like the diet, I’ll start tomorrow, but tomorrow never comes."

"Standard Life's 'Know Your Commitments' research shows just how central our finances are to our goals in life, our aspirations and to supporting the relationships that are important to us." says John Lawson,

"The current economic squeeze is likely to be forcing more people to get their finances in order.

"It’s best to regularly set aside time where you take action to make sure you are paying the lowest rate of interest on debts and getting the best possible rate on savings.

"If you regularly shop around for the best deal on gas, electricity, telephone, broadband, TV, home and car insurances, etc, you can use these savings to pay off any high interest debt you have.

"Then if there's any left over, you can start a savings account, ISA or put more money into your pension."


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Article Plan Saving tips for 2012
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