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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`

Parents `affect spending habits`

05/01/2009

Many UK consumers who spend considerable amounts in the January sales - potentially putting themselves at risk of debt problems - blame their parents.

This is according to research conducted on behalf of Skipton Building Society, which found that 24 per cent of such people say they inherited their spending habits from their mothers.

Meanwhile, 15 per cent said that their spending patterns mirror those of their fathers.

In contrast, two per cent reported having picked up shopping behaviour from grandparents, while the same percentage said that their spending was influenced by friends.

"A key part of managing your finances in the current climate is about taking responsibility and keeping track of your outgoings," stated Jason Clarke, a spokesperson for Skipton Building Society.

He added that undergoing a financial review can help consumers to avoid a "debt hangover" in the new year.

Recently, David Kuo, head of personal finance at Fool.co.uk, urged people to consider their future finances, suggesting that consumers cannot rely on the state pension to provide them with sufficient money.

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