Home > News > Debt advice

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`

Confidence in savings ‘falling’

27/01/2009

Falling interest rates have led to reduced confidence in the benefits of saving, new research has suggested.

In the fourth quarter of 2008, the Association of British Insurers (ABI) found that nearly three quarters (73%) of respondents felt that the benefits of savings had reduced over the past year. Only 7% of those questioned felt that the benefits had risen.

By comparison, a similar survey taken for the third quarter of 2008 showed that 53% felt the benefits of saving had fallen in the past year, while 15% felt the benefits had improved.

A spokesperson for Debt Advisers Direct commented: “Savings are an important aspect of many households’ finances, but it seems that more people are becoming concerned about the benefits. This may be compounded by shrinking incomes and high prices, both of which are forcing many people to reconsider how they use their money.

“We advise consumers that savings can be a very useful safety net, helping them avoid debt in the event of any unexpected costs.”

---

Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

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