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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`

Many `don`t know how much they are in debt`

20/08/2007

Almost half of British people have saved up enough money to help them if they were to fall into financial hardship, according to a new survey published today.

However, over two million people in the UK cannot quantify how much debt they are in, with 41 per cent of 18-24 year-olds unaware of their current debt burden to within £500, research from unbiased.co.uk shows.

The survey found that many people would be happy to sell their possessions (19 per cent) to pay off debt or rely on the government to support them (20 per cent). The research revealed that nearly half of 16-24 year-olds are part of a `generation spend`, as they would spend an unexpected increase in income on clothes or entertainment rather than save.

David Elms, chief executive of unbiased.co.uk, said: "This research shows how little the UK consumer is budgeting and preparing for every eventuality.`Generation spend` is allowing debt to dictate behaviour, rather than taking financial control and keeping a check on debts."

A report by business research firm Datamonitor in September 2006 claimed the average British resident owes £3,175 on unsecured loans and credit cards.

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