Hi, yes these types of saving schemes do help a lot of people who are not so well off, or find it hard to manage their money, as it’s easier for them to save a few bob each week somewhere, where they don’t have instant access to it, and so can’t be tempted to spend it on other things they really don’t need. I know a few people who use these types of clubs. Luckily I’ve never been in such a position, although I’m not super rich, but I can manage my money very well.
Regards Nick.