Saving as little as £10 per month 'a good idea'

Regularly boosting the balance of  such as  or  is advisable for Britons, regardless of their personal finance situation.

In the aftermath of the global economic downturn, many people may find it tough to use the necessary funds to save but Richard Marriott, head of savings at Nationwide, has said that putting away as little as £10 every month can prove to be beneficial in the long term.

"We are encouraging people to save whatever they can," he noted.

Mr Marriott went on to explain that many banks and building societies are making it easier to stash cash away for the future as consumers no longer need much money to open a savings account, as this can widely be done with "as little as a pound".

"For the last couple of years it has been a very tough environment for everybody and more people are trying to save what they can and put a little away. Clearly, some people have found that difficult," he added.

The Nationwide official's comments came after the publication of Legal & General's first MoneyMood survey of 2011 last week (March 1st 2011), which revealed that the number of people across the nation who want to save in the coming year has increased.

Legal & General showed that 69 per cent of the British population are in the mood to save throughout 2011, which represents the highest number since the study began some six years ago.

Mr Marriott suggested that ISAs may be the best option for those looking to make their savings go further as he explained that if they are tax-free, then "everything you earn comes straight back to you".

With the ISA season just around the corner, providers are expected to start the interest rate battle by increasing their rates in a final bid to win custom before the new tax year begins.