Where to stash your cash in 2009

We reveal a snapshot of Britain's typical saver, the savviest parts of the country, and most importantly, where you should be stashing your cash...

The economic downturn has sparked a number of different messages about what we should do with our money. And, while Darling and co. may be urging us to spend our way out of the recession, many have ignored our bright-eyed and bushy-eyebrowed chancellor, and started to save instead.

However, savings levels have still suffered from the downturn, and according to Abbey, the average saver now puts away £54 less than they did last year.

Average monthly savings now stand at £163 per month, with a quarter (26%) of us saving less than we did a year ago. However, it's also interesting to note that one in ten (11%) are actually saving more than they were last year.

When it comes to the sexes, women put away an average of £131 per month, while their male counterparts are able to save £196.

There are also some marked differences up and down the country. While residents in Yorkshire and the Humberside are able to save just £109 per month, those living in London are squirreling away £221 each month - more than double their Yorkshire counterparts.

So, whether you're saving more this year, less, or not at all, here are some universal savings tips you can take to help even modest savings grow into a handsome pot.

Regular savings

When it comes to saving, it's better to start small than not at all. One of the best ways you can do this is through a regular savings account.

Offering the best rates on the market, you can open an account with as little as £20 a month. As interest rates are fixed, it also means you don't need to worry about the impact of any more base rate cuts.

Unfortunately, some of the best regular savings accounts now come with strings attached, and in many cases you'll be urged to take out an insurance plan or additional investment product in order to qualify for these deals.

So, here are the best regular savings accounts - without any investment catches:

As well as the accounts above, if you're an existing Current Account Advance customer with HSBC, you can enjoy a superior rate of 8% on its Regular Savings account - with no other account fees attached.

But what if you have slightly more to save? For the high-rollers in the savings game, the best place to look is a fixed-rate bond.

Lump sum lovers

If you're prepared to lock your money away for a year or more, you can get a better rate than on a fixed rate bond than on many other types of savings accounts.

As interest rates in Britain hover dangerously close to zero, if you don't need access to your money in the near future, you should fix your rate as soon as possible. Here are five of the best fixed-rate deals on the market:

Though there may not be much between the best accounts, the same market leading rate of 4.1% is available on terms stretching from 12 months to a whopping five years.

If you think interest rates won't improve in the mid-term, fixing for five years with Halifax may be an option. However, you need to be sure you do not need access to your cash for five long years.

The best two-year bond is ICICI's HiSAVE Fixed Rate Account, which pays 4.1% on balances from £1,000, For one year bonds, Bank of Ireland comes top of the list at 4.1%, with ICICI in second spot, paying 3.9%.

So, whichever side of the fence you fall on, there are accounts tailored for both the Davids and Goliaths of savers among us. Do your research, select the right account for you, and there's no reason why you can't bag a decent return, even in the current climate.

More: The best savings accounts for big savers / The top ten cash ISAs