Brits urged to shop around for finance deals

British consumers have been urged to shop around to find the most competitive personal finance deals on the market.

It is possible, despite the recent turmoil in financial markets, to save money and potentially avoid debt management problems by taking time to assess the options available from high street finance firms, according to Moneyextra.

Moneyextra suggests that people looking to take out a personal loan can save themselves thousands of pounds and become debt free considerably earlier if they secure a better deal than some on the market.

Robin Amlot from Moneyextra said: “Despite the credit crunch, it’s not only possible to make and save more money by choosing the right products, you can make and save even more now than you could three months ago.”

Earlier this week, Sainsbury’s Bank reported that almost half a million UK consumers expect to still be paying-off the credit card debt they accumulated over Christmas at the end of 2008.