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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`

Lack of savings "a huge problem"

10/06/2008

With the UK having one of the lowest saving ratios in the world, an expert has said Brits need to be "doing much more saving".

Jamie Elliot, a coordinator at Transact, said: "It`s a huge problem and we need to shift from a culture of borrowing and seeing borrowing as the solution to our problem, to living by our means."

He added that Savings Gateways, a scheme set in the 2008 budget to improve British savings, were welcomed as a solution to the endemic problem.

Last month, Transact reported that the number of people from middle-class backgrounds seeking financial help had gone up, and areas such as Haywards Heath in Sussex had seen an increase of as much as 100 per cent.

In April 2008, research by Credit Action found that secured lending on homes was over £1,207 billion, and increased by 8.7 per cent in the last 12 months.

They also found that the average annual interest paid on debt by each household was over £3,700, an increase of nearly £350 in the past year.

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