This present economic state means that families everywhere have less and less to spend on themselves. Presents at Christmas, and birthday gift lists for most families have become smaller and smaller. Maybe this is a good thing. People have been in competition with themselves for years, trying to outdo what they did in the previous years. It makes you wonder what idiotic heights this competition would've gone, had the economic downturn not stopped us in our tracks.
Savings and families
You may be thinking that it's crazy to talk about savings at a time like this. People have got to tighten their belts and eat less (maybe good for the obesity crisis that's hit us too), surely, they don't have enough money to save.This is where you would be wrong. This is the perfect time to save. Not only is it prudent to set aside something small each month, but it's become necessary to do so because of our financial insecurity. 1. Credit is no longer that easily attained. 2. Our financial insecurities means that we may suffer more, should anything happen to our earning potential.
ING DirectI visited this site and perused their savings plan. I was surprised to find that they now have an extremely useful widget that means householders can now find out, on average, how much they're saving in selected areas. This is brilliant. Not only is ING direct enabling a Savings Accounts that allows you to save from £1.00 a month, but with this widget, UK customers can also see how much they're saving (and how much they can save) in areas of necessary spending. This is a huge bonus and a tool each household should definitely use.
The widget is below. Why not try out the 'My Comparison Table' and let me know in the comment box below, how much you could be saving.