Consumers have been urged not to forget about the importance of handling debt management during the summer.
It came as a survey from National Savings & Investments showed that while people save on bills during the summer months, they are more likely to spend money on leisure activities and holidays.
Two-thirds of those questioned by the organisation said they spend higher amounts of cash on weekend breaks and trips abroad in the summer, while 43 per cent revealed that the good weather makes them feel more relaxed about their outgoings.
Savings strategist Dax Harkins warned: “Everyone loves to see the sunshine, but people should try not to be so dazzled that they forget their finances.”
He added: “Summer fun doesn’t need to be expensive,” while advising consumers to plan their budgets effectively.
Meanwhile, Building Societies Association director general Adrian Coles has noted that unemployment worries are causing people to consider whether they should be lowering their outgoings.
By Jamie Price