Brits struggling to get over debt problems 1 year after recession ends
Brits struggling to get over debt problems 1 year after recession ends
- Wednesday, 9 February 2011The recession may have officially ended a year ago, but British households struggling with
debt problems are no closer to settling their personal finances.
That is to be inferred from new research by Scottish Widows, which indicated that 71 per cent are still struggling to balance their life priorities.
A survey by the bank indicated that 37 per cent still fear for their job security – down just one per cent from last year – with most householders no doubt apprehensive over the risk of losing their jobs and subsequently requiring
debt help.
Furthermore, 38 per cent feel they are failing to save enough money away to provide them with any sort of financial protection, compared to 39 per cent last year.
Iain McGowan, savings expert at Scottish Widows said: "We remain in difficult times, with Brits are still unable to give their health, wealth or home life as much priority as they would like.
"Although it can seem daunting, taking the first steps towards improving your financial outlook is vital in getting control of other areas of your life."
The research also showed that 45 per cent feel they are not doing enough to keep fit and 44 per cent think they should be having more fun.

Recent Debt Management Plan News
56% of Brits have no life insurance which could leave family with debt problems
Wed, 04 May 2011More than half of UK adults currently have no life insurance cover, which could mean their loved ones are left with
debt problems when they die...
Brits thinking about retirement advised to seek debt advice
Tue, 03 May 2011Consumers considering their retirement options have been advised to seek professional advice, as they may end up with
debt problems in the future...
Brits planning to attend a wedding should start saving to avoid debt problems
Thu, 28 Apr 2011Consumers concerned about getting into
credit card debt to pay to attend a wedding may want to use their savings instead...
Couples planning their big day can avoid debt problems by negotiating a cheap wedding
Wed, 27 Apr 2011Couples-to-be worried about needing
debt advice in the future after paying for a wedding can ensure they avoid accruing
debt problems by negotiating a cheap wedding...