Fewer people are opting to set money aside in savings accounts, one financial expert has revealed.

Although many people realise the importance of saving, few are actually acting upon it, noted Joanna Parsley, associate director of Credit Action.

The problem is that consumers do not feel able to save, she explained, especially with so many other financial pressures acting upon them.

Referring to NS&I figures, she said: "On average, Britons are setting aside £82.92 every month (6.69 per cent of their monthly income), a decline from 12 months ago when the population was saving £88.65."

This is reflected in a recent poll carried out by HSBC, which showed that high earners are not putting as much in their savings accounts as they have done in the past.

It explained that the amount saved this year will be around £20,314, down from £18,255 in 2010.