Latest Debt News
86% 'taking measures 'to combat credit crunch'
14/07/2008 17:10:00
New figures show around 86 per cent of people in the UK are taking some form of action to tackle the effects of the current financial crisis.
The research from Abbey reveals 1.3 million people are planning to sell their car because of rising fuel expenses.
More than half of Britons have altered their holiday plans this year to save money.
Phil Cliff, director of Abbey Mortgages, advises: "Careful financial planning and budgeting can help combat the effects of rising inflation, and everyone should ensure that they are shopping around for the best financial products."
The same survey demonstrated 84 per cent of respondents intend to cut back on "non-essentials" with over half claiming that they have already reduced spending on items like DVDs and clothing.
In contrast, personal finance writer Cliff D'Arcy said in May the risk of overspending can get "very nasty" due to the ease with which it can get out of control.
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