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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`

Britons `cut back on holidays rather than technology`

13/08/2009

A new report has suggested that Britons are more willing to cut back on holidays and meals out than on communication technology when it comes to saving money and avoiding debt.

In its annual report, Ofcom said that consumers consider spending on mobile phones, internet and TV subscriptions to be a higher priority than almost anything except food, the BBC reports.

A spokesperson for Debt Advisers Direct said that people looking to avoid or manage debt should think very carefully about where to cut back.

"Obviously, things like food and toiletries are essential, but things like electronics are usually not, and they tend to be expensive.

"We advise anyone trying to manage their debts to look at their non-essential spending and cut back in the most expensive areas. If cutting back on costs doesn`t improve the situation, they should seek professional debt advice as soon as possible."

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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