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The government needs a long-term plan for savings to secure our economic and financial resilience and must reallocate tax relief to those who we want and need to encourage to save.
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Borrowers are also given savings accounts and encouraged to save at least $2 a week.
The body, whose members recruit around 30,000 graduates a year, said families should be encouraged to save for university through a national savings scheme.
"We're trying to build up a savings culture where people are encouraged to save, even if they only have a dollar – for children's school fees, for transport, for the doctor.
A greying population will also be encouraged to save more for long-term care.
Among other key areas, the Get Ahead training focuses on encouraging to save with undertaking other activities to supplement income.
Children who are encouraged to save at that age invariably remain 'rainy day' savers all their lives.
Older generations had not been encouraged to save into a pension scheme as the pensions industry had hardly developed.
"This means that anybody whose state pension age is after this date should be encouraged to save," he says.
Supporters point to Spain, which uses this approach and whose lenders are in relatively good nick.Banks should be encouraged to save more for a rainy day.
It's important that people are encouraged to save, and that they aren't instantly turfed out of a much loved flat because they have become ill.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com