Brits ‘facing up to financial realities’

British consumers around the country are facing up to the reality of their personal finance and debt management realities in the early part of this year, it has been claimed.

According to the assessment of Richard Watters from the property purchasing company A Quick Sale, January is a particularly harsh time of year for consumers who overspend during the festive season.

Furthermore, Mr Watters has suggested that becoming debt free will become an increasingly urgent priority for consumers around the country as they come to reassess their finances in the new year.

“Our advice to people for whom the extra debt amassed over Christmas was the last straw is to seek professional advice sooner rather than later,” he said.

“For many people on the verge of arrears, re-assessing finances and looking at monthly outgoings can help to get them back on track.”

Citizens Advice claimed recently that the subprime mortgage sector has undermined home ownership in many parts of the UK.