Tips offered to help Brits ‘head out of debt’

A number of money-saving tips that could help UK consumers become debt free have been offered by personal finance experts at the Fair Investment Company.

Switching energy or mobile phone deals to a more competitive alternative is one way that indebted Britons can improve their finances in the new year, the company has made clear.

Furthermore, Fair Investment suggests that for households facing debt management problems, keeping a close eye on outgoings and sticking to a budget can have a positive long-term financial effect.

James Caldwell, director of the Fair Investment Company, said: “Worrying about money is one of the biggest causes of stress and unhappiness in the UK, especially after a period of heavy spending such as over the Christmas season.

“Most money-saving is down to common sense. The less you spend, the further you can stretch your finances, however there are some simple steps to take to ensure you make the most of your money.”

The Citizens Advice charity recently suggested that it expects to see an increase of the number of people approaching its staff for debt help during January.

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