Consumers struggling to control their finances have been advised to seek help with their debts.
According to Carl Kroger, sales and marketing director from the Relax Group, debt-burdened Britons should ensure they keep a written record of their finances, including how much is spent on bills and mortgage repayments.
They should then be able to work out how much they need for essentials, he said, with a cut back on luxuries the next step to managing out of control finances.
However, Mr Kroger warned that large debts may need to be tackled with help from professionals.
“Debt management advice will help establish a plan that will sort out the whole debt problem in one programme that’s personal to the individual and their specific needs,” he suggested.
In fact, regaining control of finances is the top New Year’s resolution for the UK, comparison website Gocompare revealed in a survey recently.
By Rosie Park