More people are showing an interest in putting money in their savings accounts, a financial expert has pointed out.

Jasmine Birtles, founder of moneymagpie.com, explained that even though interest rates are low and inflation is high, people still want to put together a nest egg.

"The best savers, or at least the ones keenest on saving, are the young - those in their 20s - because it has hit them the hardest," she explained.

Ms Birtles emphasised that older people tend to have been supported more by previous government and have also benefited from "lots of cheap money", which is no longer the case.

Ms Birtles highlighted that people now realise the state will not look after them, so they will have to do it themselves by putting cash aside in savings accounts.

Research from Standard Life recently found that 17 per cent of adults in the UK carry out no sort of financial planning.