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Regular savers feel the benefit

As UK savings rates continue to suffer in the wake of a slashing of UK base rates, those who save on a regular basis will be feeling the benefits. Budgeting for the future can be difficult to do but in light of the ongoing economic downturn it has never been more vital to save. As much as we try to plan ahead, put funds to one side and cover ongoing expenses, there are always things which appear out of the blue such as car expenses, replacing equipment and other common occurrences.

While not everybody is able to save on a regular basis, the idea of putting away just a few pounds a month can in due course make a significant difference. As we start to see signs of a potential recovery in the UK economy there are hopes that those who are being forced to spend their savings to survive day-to-day will soon see a reduction in this financial pressure.

One potential sign that the economy has turned will be the increased inflow of funds into savings plans and savings accounts, something which has yet to really materialise. Even just a few pounds a month can make a difference over many years and even if the worst comes to the worst and the funds are required then at least they are there to use.

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