The latest saving advice is to change cars no sooner than every five years.

Fidelity International, asset managers say that people can boost their pension savings by as much as £240,000 if they replace their car every five years and not three as many people do.

The basis of the advice is from the following calculation of people paying a monthly payment of £352 over a period of thirty years.

Simon Fraser, UK and Europe president at Fidelity International said, Just by deferring a car purchase by a year or two, people can make a substantial improvement to their retirement prospects and potentially stop full-time work far earlier than those who embrace the 'spend now, save later' ethic.

No-one is saying that individuals should not spend their earnings, but there needs to be a balance between consumption now and saving for the future.

He went to say that if people start their pensions savings earlier the harder their money works for them.

Fidelity International say that the cash saving should be invested into their pension fund leaving people in a position to take early retirement.

Aegon UK, issued a warning last month that those who wait for pension reforms to be implemented in 2012 before they start saving could lead to a huge reduction in their pension income.