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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`

Debt news: Britons `more inclined` to spend than save

11/12/2009

According to a survey of Britain`s wealth by the Office for National Statistics (ONS), 44% of the public are `more inclined` to spend their money than save it, The Times reports.

Around 80% of households had `racked up` an average debt of £7,200 on credit cards, loans and other non-mortgage related sources of credit, while just 40% of men and 32% of women were saving by contributing to a private pension.

Of those who owned a credit or store card, 15% admitted they were unable to meet the minimum debt repayment, while over 50% of `active users` said they felt their debt repayments were a `burden`.

In addition, one in ten households had been unable to afford their debt repayments for at least two consecutive months, and as a result, have ended up in arrears.

The figures, which were released just a day after the Government outlined its plans to address Britain`s national debt, show that over a fifth of the population would rather `buy now, pay later`, with women `more likely to express the devil-may-care attitude` towards credit.

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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