Why isn't Britain saving?

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Money makes the world go round
"A whopping two in five people have less than £100 in savings"
  • | by Abbie Laughton-Coles

When it comes to saving for a rainy day, it would seem that we're just not getting the message.

Research published by the Money Advice Service has shown that a staggering 16.8 million of us have less than £100 in savings - that's a whopping two in five people with no moolah to fall back on.

Rather shockingly, it was only the south-east region of our fair isle whose piggy banks contained more than a ton.

We get it, saving isn't particularly sexy, especially if you have more of a 'buy now, think about your bank statement later' attitude. But there's a reason why squirreling away a little bit at a time is drummed into us from an early age.

It looks like we may need a little convincing though, with 49% of people surveyed in the 'Closing the Savings gap' report saying that they live for today rather than plan for tomorrow.

This type of care-free attitude is all well and good but it could mean that we end up in debt if there's a turn for the worse.

Of course saving doesn't need to be a chore; here are some little tweaks you can make to your everyday life to help your money stack up.

If you can't see it, you can't spend it

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If you're the sort who can't help but spend the entirety of their savings each month just because it's available, we feel you.

It can be difficult to stop yourself when you know there are funds to spend, so make it a little easier by diverting a portion of your wage elsewhere.

Set up a standing order which whisks a predetermined amount out of your account as quickly as it goes in. Pop it into an account which offers a good amount of interest and let it do its thing.

Try not to dip into it for a while and consider whether you really need to spend the money - it may just come in useful one day.

For those who really can't resist the urge to splurge, consider a fixed-term savings account which stops you from taking money out before a set deadline without costing you interest.

Keep it current

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Logically, your savings should go in a savings account - clue's in the name after all. However, this isn't the only option and you may actually be missing out on making your money grow if you pick one.

Instead consider a current account which offers an interest rate that's a little more attractive. You could get more for your money, which is the whole point anyway, isn't it?

Why not use current account comparison tool midata to find the right option for you in pounds and pence?

All these little things

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Those little things that we spend our money on everyday can really add up - your morning coffee, a daily bar of chocolate, that cheeky takeaway on a Friday.

They may not sound like a lot, but guaranteed it does all add up. At the end of the month, you may find that you've got yourself a princely sum.

Paying over the odds?

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If you've stuck with the same car insurer, energy provider or bought the travel insurance that was recommended by your holiday company, you may be shocked to know how much you could save by switching.

Luckily that's where price comparison sites come in handy. They compare all of the above and more to make sure you're getting a corking deal and not paying more than you need to.

Then all you have to do is put the money you save to one side until it comes in handy.

Have you got any simple tricks to help you save? Let us know on Twitter or Facebook