Keep on spending, do your duty for your country

The suggestion is from Tim Mack of National Savings and Investments is that we save money by making  packed lunches and cycling to work.

Then he suggests we open a direct debit and put the saved amount into one of his savings accounts and watch it grow.

Given the average instant access savings account is paying only 0.9% that will be a long time in the growing.

Some 35% of people in the NS&I poll said they were saving for a house.

Working that out though, on a typical £150,000 property, you would need £37,000 to reach the 25 per cent deposit curently being demanded for first time buyers. At £100 a month, it would take you over 30 years of saving to get the deposit together.

With inflation currently at 5.2% on the last 12 months RPI, any savings you have are being wiped out very quickly.

Any case, we are all struggling for money right now and the last thing the government wants is for people to stop spending money and send more British businesses into bankruptcy.

So get out to the shops and get spending, it's the best thing to do for the country right now.

Read more: http://www.dailymail.co.uk/news/article-2009854/Astonishing-SIX-MILLION-Britons-savings-all.html#ixzz1Qw77tgtu