Mr B e-mailed us during the week to enquire whether there were any tracker bonds on the market where investors can make monthly contributions as opposed to investing a lump sum at the start.

Unfortunately, the answer is no. Because tracker bonds involve the purchase of an option, all are single premium investments where the entire sum has to be invested up-front.

Those keen to invest in a tracker bond but who can't muster the minimum investment - which is usually at least £2,000 (€2,539) - have little option but to save using more traditional means until they have the lump sum they need.

There are several other options available to long-term savers who wish to make regular monthly contributions. The personal equity plans (PEPs) and personal investment plans (PIPs) offered by the banks or the with-profits products provided by life assurance companies allow people to save on a regular basis but also provide them with exposure to equity type investments.

Both sorts of investment should be undertaken with a minimum three to five-year investment period in mind.

For those with a shorter investment horizon, there are few products available beyond the traditional range of deposit accounts.