The savings market has witnessed quite an upturn in the past year, as for every pound saved only 27 pence is borrowed. This is a dramatic increase from last year's figures, whereby this amount was 69 pence for the same quarter.

IFA Promotion has discovered through its quarterly Savings Brake report that savings levels have reached the highest in comparison to the ratio of how much is being borrowed since 2001.

In order to aid those who are hoping to start saving money, IFA Promotion has produced a free dedicated savings guide.

The guide, called Join the Savings Revolution, examines how to budget and start saving more, and includes options of where people should be saving money or considering investment.

David Elms, chief executive of IFA Promotion, commented: Increased commitment to regular savings is clearly good news, but it stems far more from recent interest rate moves than any sudden savings epiphany.

To avoid a repeat of the last few years of rampant consumer debt and total neglect of saving, we need to see an overall shift in consumers' ability to budget. People need to make the link between their spending, borrowing and saving behaviour and their long-term financial security.