Brits 'must be increasingly resourceful'

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Brits 'must be increasingly resourceful'

Individuals hoping to provide a significant nest egg for their retirement are having to become increasingly resourceful in the present financial climate, it has been claimed.

Rasheed Ogunlaru, life coach and motivational speaker at rasaru.com, said people are innovating in terms of swapping skills with friends rather than getting in professionals or they are taking on more DIY jobs around the home.

What is clear is that more people are struggling to make ends meet, but many are seeing this as a challenge to their ingenuity and are doing all they can to continue to make savings.

"For many young people nowadays, saving money and the job market may be tough, [so] it is important to think about ways you can move yourself forward," Mr Ogunlaru noted.

His comments follow those of Robin Ellison, head of strategic development for pensions at Pinsent Masons, who recently argued that younger savers stand a better chance of building up a comfortable nest egg for their retirement, as they have a longer time in which to do so.

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