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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Household spending squeeze `not just a blip`

16/05/2008

The current squeeze on household spending is not just a "little blip" and could continue for many months ahead, a major financial charity has warned.

Rising food, fuel and energy prices have recently combined with tighter lending conditions to create a gloomy financial outlook, with many households having to cut back on spending.

However, according to Credit Action, this is likely to last a number of months, as current conditions are not predicted to get better in the short term.

Some consumers may even need to seek professional debt advice if they do not curb spending, the charity`s director Chris Tapp said.

He added: "People should be looking and thinking about this as if it is going to be around for the long term. It is always more sensible to plan on that basis and in the current climate that could well be the case."

Earlier this week, Bank of England governor Mervyn King said inflation could increase to 3.7 per cent by the end of 2008.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according