Marvin OnumonuAviva has marked World Savings Day by urging consumers to tackle bad financial habits that can hurt their future.
Research found there were 3.3 million lost pension pots in the UK, with a total value of £31.1bn.
Aviva highlighted the risk of unexpected expenses, such as unused gym memberships, auto-renewing subscriptions and daily coffees, which can all add up fast.
The company advised a monthly audit of expenses and cancelling unused services.
Impulse buying, especially online, was flagged as another problem.
Aviva recommended a 24-hour rule before buying anything non-essential and using price comparison tools.
Additionally, Aviva suggested making a simple monthly plan, setting aside amounts for savings and discretionary spending, and reviewing it regularly.
Aviva also warned against delaying saving, saying starting now is important.
Setting up automatic transfers to a savings account or pension was described as a simple way to build savings over time.
Goals like a holiday fund or emergency buffer can help keep people motivated.
Research found £300bn of household savings were sitting in accounts paying no interest, meaning hundreds of millions of pounds in lost potential interest.
Shopping around for better rates was encouraged.
Alistair McQueen, head of savings and retirement at Aviva, said: “Saving doesn’t need to be scary.
“The key is to start small, stay consistent, and make it a routine.
“Whether it’s saving by investing into a pension for retirement, building a buffer of cash for a rainy day, or a dream holiday, every pound saved is a step toward financial peace of mind. Think of saving as a habit.”
McQueen added: “Making your savings routine takes the pressure off and helps you build momentum.
“You can grow your savings without even noticing. The trick is just to start saving, however little.”
