Debt to be tackled ‘next year’

Yet according to IFA Promotion, around half will break this promise of better debt management as 52 per cent of people breach a new year resolution by June.

“Many of us clearly have good intentions when it comes to sorting out our financial situations but the all important question is can we stick to our guns and make these good intentions a practical reality?” commented Karen Barrett, marketing director for IFA Promotion.

In the poll, 38 per cent of people said they intend to become debt free in 2007 and a third plan to save for special purchases, such as a car or holiday.

Even those not seeking to clear debt said that they intend to borrow less and possibly do more investing.

Despite these vows, Britons continue to struggle to manage their debt with IFA Promotion saying that for every pound saved between April and June, there was a loan of 48p.