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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`

ISA savers `could be £103 million better off`

01/05/2009

Nationwide Building Society has suggested that ISA (Individual Savings Account) savers could be better off as a result of the Government`s increase on the tax-free allowance on an ISA.

It claims that by topping up savings at the beginning of the tax year, rather than the end, savers could collectively be better off by an additional £103 million.

An ISA allows savers to put some money aside without paying any tax on the income they receive on their investment. The current limit on a cash ISA is £3,600, while savers can invest up to £7,200 (minus the amount they have in their cash ISA) in a stocks and shares ISA.

A spokesperson for Debt Advisers Direct said: "Savings can be particularly important in a difficult economic climate. Amongst other things, they offer protection against financial difficulties, although savers should be careful to consider an instant-access ISA if they think they may need the money at short notice.

"However, it normally makes more sense for people struggling with debt to focus on repaying their debts rather than saving - even if that means using existing savings - as this can save a lot of money in the long run."

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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