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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`

Consumers `aiming to reduce spending`

12/03/2009

Consumers in Britain, potentially including those experiencing debt problems, are aiming to reduce their expenditure, it has been found.

According to a study conducted by Egg.com, nearly three-fifths of people recently surveyed collect money-off coupons as a means of saving cash.

Meanwhile, nearly one in four (23 per cent) have turned a section of their garden into a vegetable patch and four per cent have taken to raising chickens.

In addition, 35 per cent said they are now eating and drinking less in order to counter the effects of the recession.

Patrick Muir, spokesperson at Egg.com, stated: "It`s interesting to see that people across the country are going back to basics and adopting imaginative do-it-yourself savings techniques."

Recently, Zack Hocking, head of Child Trust Funds at the Co-operative, claimed that children raised in the credit crunch may be better equipped to manage their money in the future, possibly making them less likely to experience debt 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