People who want to get debt free should start savings accounts according to industry experts.
The Century of Saving report from the National Savings and Investments group has shown that the number of people putting money aside regularly has risen sharply over the last seven years and is up a total of 31 per cent.
The great thing about starting a savings account is you can open them by depositing as little as £1. A good tip is to set up a regular direct debit from your current account and treat your savings like another bill. That way, you'll budget for it properly and over a period of time that money will grow into a tidy sum.
There are good deals on savings accounts so do a bit of homework before diving in. However, the benefits of long term savings can be huge as it gives you the freedom to pay off large sums of debt in one swoop or splash out on a luxury item you've always wanted.
If you're in debt and spend your life trying to work your way out of it, why not make your money do some work for you. If you're serious about becoming debt free then starting a savings account is a good statement of intent.