Home
NewsBrits 'may be concerned about reliance on credit'
Brits 'may be concerned about reliance on credit'
Posted by Mark Cunningham
Many consumers in the UK may be concerned that they are over-reliant on credit.
New research from Scottish Widows showed that 22 per cent of people polled are adopting an "ostrich mentality" when it comes to money troubles.
The same proportion thought that too much personal debt is serving as a barrier to them feeling financially secure.
In addition, it was noted that 39 per cent admitted their commitment to saving money has been shelved due to pressing money issues.
Responding to the findings, savings expert at Scottish Widows Alison Morris said: "Our financial security, savings and jobs are suffering as we struggle to prioritise what really matters when it comes to financial stability."
The turbulence of the economy has been exacerbated by the uncertainty caused by the impending general election, which will take place on May 6th.
All the main parties are claiming they will implement policies to help consumers in the wake of the downturn.
30/04/2010 15:31
News category: Consumer