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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`

People `sharing cost of living to avoid debt problems`

21/01/2009

Consumers in the UK are increasingly sharing the cost of living in a bid to cut down on expenditure - and potentially avoid debt problems - during the economic downturn.

This is according to research from cahoot, which suggested that 39 per cent of people questioned were spending more time at home in order to reduce their spending.

A further 19 per cent reported that they are sharing more family mealtimes so as to cut down on the amount of money they spend on food and drink.

Cahoot also suggested that Britons could save a combined total of £18 billion by sharing living costs.

"Interestingly it seems that the credit crunch is breeding something of a Blitz spirit amongst British households," stated head of cahoot Matthew Timms.

He added: "Staying in really has become the new going out as we seek to cut costs by conducting more shared activities inside the home with family and friends."

Meanwhile, another effect of the recession - according to recent comments made by Just Retirement - will be an increase in the number of people who look to equity release as a means of solving their financial problems.

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