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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`

Financial fear felt by half of UK consumers

22/07/2008

A new survey from GoCompare has found 49 per cent of British consumers are "concerned" or "very concerned" about their economic outlook for the next 12 months.

The comparison site has cited the rising costs of household bills and fuel as an explanation for the unease, which may indicate debt management problems are also on the increase.

When asked about financial priorities for the next year, the majority of respondents (60 per cent) said they planned to decrease outgoings and reduce credit card debt and loan costs.

Depositing money in savings accounts was the second-highest priority, with 19 per cent of consumers focussing on this area.

Hayley Parsons, chief executive of GoCompare said it has "never been more important to save money wherever you can".

"This research shows just how worried UK consumers are about rising prices and their personal finances," she said.

The survey of 1,000 people found a third of British consumers spend a minimum of 80 per cent of their monthly income on household bills. Six per cent spent all their income on bills.

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