Many trusts offer savings schemes which let you invest small sums, £25 to £30 a month, on a regular basis.
The interest and any bonus you receive at the end of your savings scheme is tax free.
The clearing banks offer a wide range of savings schemes to suit all pockets, and to meet both short and long term needs.
Although families earning up to £58,000 will qualify for payments under the child tax credit, they will not be eligible for this new savings scheme.
A Chit fund is a kind of savings scheme practiced in India.
Isn't that more practical than those deceptively political savings schemes?
But there is not one single technical reason why these different types of savings schemes could not be combined in one and the same directive.
They include, for example, the fact that the report calls for private savings schemes to be encouraged.
Furthermore, many trusts now enable people to invest regularly either through savings schemes or lump sums.
There is a wide range of trusts to choose from, a regular savings scheme and low cost transfer and share exchange facilities.