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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`

UK savers dip into savings

26/02/2009

Nearly half (47%) of the UK`s savers have needed to draw on their savings since the start of today`s economic problems - and 14% have either reduced the amount they`re saving or stopped saving altogether.

Research carried out by OnePoll for Fairinvestment.co.uk showed that 18% of the people questioned who had savings had been forced to use up to 10% of that money. 7% had used up 11-20% of their savings, 5% had used 21-30%, and 4% had used 31-40%.

A full 5% had used up 91-100% of their savings.

As for adding to their savings, 8% of people who had savings accounts admitted that they`d reduced the amount they were managing to save, while 6% had stopped saving entirely.

"Savings are an important part of financial management," said a spokesperson for Debt Advisers Direct, "as having money in the bank can help people cope with unexpected events.

"It`s extremely worrying to think of people `eating away` at their savings like this - whatever financial problems they`ve had to deal with recently, this means they`ll be in a worse position to deal with any problems that may lie ahead."

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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