For many people, good budget management is about staying out of severe debt, but on a positive note, it can help with savings too.
And one group it may particularly assist is young male savers, who have been doing very well recently when it comes to putting money away, a new poll has found.
Research by National Savings and Investments (NS&I) revealed that young men aged between 25 and 34 are managing to set aside an average of £104 a month, compared to the national average of £88.
Of these, 47 per cent are making home-related savings as they plan to get on the property ladder, whereas only 25 per cent are trying to save up for a holiday or other special reason. Another 23 per cent are saving towards their future financial security.
NS&I savings spokesperson, John Prout, commented: "We are delighted that so many young people are mature beyond their years and saving responsibly. Setting specific targets is a good way to stay motivated, and even if it's only a small amount being set aside each month the savings soon mount up.
"If you're struggling with your finances, January is a great chance to start afresh and set achievable goals to work towards over the coming year."
For people who would like to save more in this fashion but are struggling to do so at present, a budget planner may turn out to be an extremely useful tool.
It works by helping people to establish and monitor exactly where their money is being spent and can show up cases where cash is being spent frivolously, when items may be bought for less elsewhere or at a discount if paid for in advance, as well as highlighting waste like direct debits being paid for goods and services no longer received.
Other young people who may need to budget well are those with children, as Dr Katherine Rake, the chief executive of The Family and Parenting Institute, said this group has "disproportionately" taken the brunt of recent government austerity measures, becoming worse off as a result of changes to tax credits and benefits.
