Saving a small amount of money each month is a good idea. Whether you are saving up for something special, or you simply want to have a small nest egg of emergency money, saving is useful to do and an excellent habit to get into.

Start your children saving from a young age. This will help them to understand the value of money and of having savings. Even twenty pence saved in a small savings bank every week will soon add up to a decent amount in a child’s eyes. Some children are encouraged to save half the money they receive from friends and family as gifts.

As an adult, if you have a regular income that is at a reasonable level, the standard advice from money experts is to save 1/3 of your monthly income. This can be saved in a long term interest bearing savings account, or an ISA. Your bank, building society or a financial adviser will help you decide the best course of action. You should choose a savings account that gives you access to some of it, but protects a proportion of it too so that it is not easily spent.

Most banks offer a variety of savings accounts with different withdrawal terms. For example, immediate withdrawal, 1 months’ notice, 3 months’ notice, annual withdrawal or no withdrawal until the saving term has been completed. Choose the options that give you the best flexibility while still protecting the bulk of your savings, and earning you a decent amount of interest.

Start small by saving a little every month. Once you have 3 full month’s salary saved, move two months’ worth into a longer term saving account and keep building your savings. If you transfer sums over, every few months, but always ensure you have one month’s salary saved and easily accessible, you will have the comfort of knowing you have that emergency money there if you need it. In the mean-time, your long term savings will grow and before long you will have a sizable lump sum.

But, do you find it hard to save any money at all? It is not easy to save, and the truth is, it takes commitment and will-power. By being strict with yourself you will be able to achieve great things. Even if you do not have a particularly large income, it is still possible to save a small amount.