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Consumers `increasingly experiencing debt problems` Over-50s `better at managing credit card debt` New banking rules `may restrict access to loans` UK `must reduce consumer debt` 700k `on Debt Management Plans` Recession `could lead to financial problems for retirees` Charity sees increase in debt, mortgage and loan arrear enquiries Retirees` finances `may be damaged by rate cut` Consumers `aiming to reduce spending` People `increasingly turning to illegal loans` Children raised in credit crunch `may be better able to manage money` Many parents `pushed into debt by adult children` Young people `failing to protect themselves for debt repayments` Consumers in East Midlands `relying less on debt to fund lives` Plans set out to help people in debt PPI ban `could leave consumers without loan cover` Govt `must step in to stop debt addiction` Cash-strapped Brits `see fraud as more acceptable` People `should not rely on mortgage rescue plan` Consumers `to take out £3bn in debt consolidation loans by Easter`

`Many consumers less likely to save over coming months`

28/12/2008

Due to the current economic conditions, many consumers will be unable to save over the coming months, potentially putting their personal finances at risk.

This is according to the latest National Savings and Investments (NS&I) Quarterly Savings Survey, which found that 53 per cent of people do not put money away each month.

Of these, 21 per cent were said not to save at all, while 32 per cent do not have enough money to cope in an emergency.

Meanwhile, 45 per cent of people said they are less likely to invest in savings accounts over the next three months.

Dax Harkins, senior savings strategist from NS&I, said: "The downward trend in savings over time is worrying as more than a third of savers currently do not have enough in savings to cover an emergency."

Meanwhile, AXA recently published research which suggested that 25 per cent of the adult population are having difficulty coping with their outgoings, potentially putting them at risk of debt problems.

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