Indebted Brits urged to ‘be realistic’

Indebted consumers around the country have been urged to be realistic about the state of their finances.

The Cheshire Building Society has suggested that people struggling to become debt free should plan a budget that will see them deal with the most burdensome debts as quickly as possible.

Taking a positive and realistic attitude towards dealing with debt and financial management in general will give consumers a good chance of getting control of their money, the society maintains.

“If you have any outstanding debts, don’t sweep them under the carpet, work out how much you owe and create a budget to get this paid off,” a statement from the Cheshire read.

“Prioritise your outgoings and make sure all the key bills, such as mortgage or rent payments and council tax are being paid regularly and on time.”

Moneysupermarket.com recently warned that July could be a tough month for indebted Britons and particularly those whose fixed-rate mortgages are coming to an end.

By Giles Stevenson