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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`

Average household £7 a week richer but debt levels remain high

01/07/2009

During May, a typical household had £164 a week left for `discretionary spending` after essential expenses, The Telegraph reports.

The research, produced by cebr (centre for economics and business research) for Asda, suggests that essential spending, such as utility bills and mortgage payments, was £3 a week lower in May than a year earlier.

An economist at cebr, Charles Davis, commented: "Spending power has increased relative to a year earlier in both April and May. However, this is not necessarily translating into increased spending on the high street - as shown by the 0.6 per cent month-on-month fall in retail sales in May.

"This is due to increased levels of precautionary saving as consumer debt levels remain high, unemployment rises and households see an uncertain economic climate ahead."

A debt specialist for Debt Advisers Direct said: "We would advise anyone with `spare` disposable income to think very carefully about the best way of using it - for example, they may choose to overpay any debts they may have. At a time like this when interest rates are low, tackling their mortgage debt could be a particularly appealing option."

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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