People should always be looking to bolster their savings.
In the current economic climate, it is important that individuals set cash aside in case their circumstances change at some point in the future.
Andrew Percy – Conservative MP for Brigg and Goole – observed the modern day pressures facing Britons means "knowing how to manage finances and manage debt is becoming more and more important".
Because of this, he is calling on everyone to carry out a 'health check' on their finances so they can put an action plan in place.
Mr Percy would also like to see better financial education introduced for both youngsters and adults.
Tony Hobman, Chief Executive of the Money Advice Service, noted his group seeks to help people "take decisions about their money and plan for a better future for themselves and their families".
Consumers need to set out clear financial priorities in order to make sure they can save an adequate amount of money each month.