Debt worries fail to prompt action

According to research from National Savings & Investments (NS&I), although 43 per cent of people claim to be worried about their finances, only 42 per cent have actually done anything about it.

“Today’s findings reveal an underlying fear of getting to grips with the essential day-to-day management of personal finances, from household bills through to credit card debt and savings,” commented Dax Harkins, senior savings strategist at NS&I.

“It is important that those Brits who are anxious about their financial situation resist the temptation to bury their head in the sand and do something about those sleepless nights.”

It appears that this call is largely going unheeded as the NS&I poll indicates that only six per cent of monthly income is being saved.

With many people claiming to not know who to talk to about debt, Mr Harkins advised consumers to get advice from professional organisations before it is too late.