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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`

Brits `budgeting to avoid mounting debts`

05/09/2008

UK consumers are increasingly setting budgets as a means of controlling their spending and avoiding getting into debt problems, it has been found.

Research conducted by PayPal Top Up Card suggested that 57 per cent of people surveyed reported they now budget more frequently compared with a year ago, while 62 per cent set or review budgets on a monthly basis.

However, despite attempting to limit their spending, 15.9 million Britons exceed these budgets by an average of £123 each month, meaning they may be putting themselves at risk of running into financial difficulties and accruing debts.

Additionally, it was found that 20 per cent of consumers rely on long-term savings or credit cards to fund essential expenditure at least once every four months.

"It`s concerning that so many people claim to keep to their budget, yet still rely on credit cards or savings for basic living costs," stated Carl Scheible, managing director of PayPal UK.

Meanwhile, figures produced recently by AA Personal Loans revealed that four million Britons are experiencing financial strain as a result of so-called "newly-wed nesting".

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