A single daily presso could save you thousands, according to Malcolm Cuthbert, of financial management company Killik & Co.

Discounting inflation, he calculated that by saving on the daily high street cappuccino, the average 30-something could add £3,843 a year to their retirement pot.

Here's the maths: someone spending £1.80 on coffee every day is handing over £468 for the luxury every year. When compound interest of 7% is taken into account, this would amount to a total of £8,648 over 10 years, £25,661 over 20 years and £59,127 over 30 years.

If a 35-year-old were to put all the money they spend on high street coffee into their pension pot instead, at 65 they would receive £3,843 more in their pension every year for the rest of their life.

"Most people will be surprised and comforted to know just how much difference small daily cutbacks in spending can make to their long-term financial stability," said Mr Cuthbert.