Debt Management – Self Conscious Brits Money Woe
Image is everything as the saying goes but consumers throughout the UK are finding this mantra is adversely affecting their finances. According to research carried out by CreditExpert, Brits are struggling to keep to debt management plans and are plunging themselves further into debt by making purchases that boost their image such as jewellery, clothes and cars. These purchases are often made on credit and given the current precarious monetary situation many find themselves in, this may be the financial straw that breaks the camel's back.
Debt Management – Debt is in the Wallet of the Beholder
The preoccupation that people have with the image that they portray is causing a debt bubble that is all set to burst. Keeping on top of debt management is difficult enough at the best of times but during the current economic fragility, the type of extravagant and, ultimately, unnecessary purchases people are making simply can't be legislated for. According to the study conducted by CreditExpert, as many as a third surveyed had spent more than they could afford in order to appear more affluent. However, most neglected to consider the financial risks associated with such purchases. Jim Hodgkins of CreditExpert states, “The desire to keep up with friends isn't new and there is always a temptation to use credit to do so. But using credit to fund a lifestyle you can't really afford can lead to huge debt management problems.”
Debt Management – Tackling Debt Head On
Staying out of debt is increasingly problematic and it is not only those who buy things that they cannot afford that are adversely affected by the economic nosedive. The massive slump in the property market, scarcity of mortgages and spiralling living costs are hitting homeowners and consumers hard and many are struggling to keep their finances in check. Many who find themselves consumed with debt will opt to utilise the advice of financial experts; who can offer a debt management plan or the use of proposals such as an individual voluntary arrangement (IVA). These will aim to help those in debt grab the reins of their runaway finances.
Speak to Kensington Finance for debt consolidation and debt management solutions.
Kensington Financial Management Consultants Ltd is a total finance solutions company helping people all over the UK. We speak financial sense. We will allocate you a friendly advisor who will chat through your current situation and formulate a plan for you without obligation. Let us work out a financial solution based on your individual circumstances. It's our aim to help everyone who contacts us. With debt solutions from debt management and IVAs, mortgages & re-mortgages, secured & unsecured loans and advice and information for debt consolidation, bankruptcy and Trust Deeds, we can help. It really is worthwhile giving us a call or applying online today for a confidential chat with one of our friendly advisors. Call FREE on: 0800 096 4409.