We all probably wish we were saving more money, but with interest rates so low, you would be forgiven for being put off.
See also: How to pick a savings account
See also: Why are Brits so smug about money when we're not saving?
But help could be at hand with a new Savings Bond going on sale today, however, you might not know much about it.
So, here's six of the most pressing questions about it answered.
1.What is it?
It's called the Investment Guaranteed Growth Bond (IGGB). In simple terms, it's a savings account with fixed interest for three years and is being offered by National Savings and Investments, the organisation dealing with Premium Bonds.
2. What are the benefits?
You get to earn 2.2% interest, which in the low interest world we're currently in, could seem very attractive.
Unlike a stocks and shares investment, you are guaranteed to see your money grow, plus everything is guaranteed under the Financial Services Compensation Scheme.
3. How much can I pay in?
Anything you want, between a minimum of £100 to a maximum of £3,000. However, the investment must be made in the next 12 months.
4. When can I access my money?
To get the full amount of interest you cannot access the money for three years. This might seem like quite a long time, but there are benefits at the end of it.
If you want to get at your money earlier you will have to pay penalty charges, which will be equal to 90 days' interest.
It's also worth remembering this Savings Bond is only available online, so if you prefer to deal with things over the phone or by post, this might not be for you.
5. So how much could I make?
If you invested the maximum of £3,000 for the entire three years, you would earn about £202 in interest. But it's also worth remembering any interest you earn is subject to income tax.
6. Should I get one?
If you have between £100 and £3,000 and can afford to tie up this money for three years, then this could be worth considering.
However, it's not for everyone. If you have no savings buffer to protect you against financial shocks, like an unexpected bill, you might be better off with something allowing you to access your money when you want it.
It might also not worth paying into this bond if it means you then can't afford to pay into your workplace pension as you will miss out on contributions from your employer and tax breaks.
Another thing to consider is the interest rate. While 2.2% is certainly a good return, it's always worthwhile shopping around to see if you can find something better.
This article is provided by the Money Advice Service.