Debt help 'should be seeked as soon as possible' to avoid family feuds
Debt help 'should be seeked as soon as possible' to avoid family feuds
- Tuesday, 1 June 2010Families coping with
debt problems could have more arguments because of their financial concerns, suggests Clydesdale and Yorkshire Banks.
A new study by the bank has revealed that over one million families are arguing more as a result of financial worries caused by the recession.
Despite the recession being officially over, its impact will be felt for a lot longer as consumers in their 20s delay plans such as moving out of their parents' homes, to avoid potential
debt problems.
Steve Reid, retail director at Clydesdale and Yorkshire Banks, said: "There's no question that financial concerns create stress in family relationships. It's important that people understand that help is available and that the sooner they seek it out the better.
"Hiding from the possibilities only increases the stress at home and the likelihood the situation will get worse."
Furthermore seeking
debt help as soon as possible could prevent arguments caused by financial difficulties and reduce the strain felt on households.
There have been some benefits to the recession as children have learnt the value of money, suggests Jasmine Birtles founder of moneymagpie.com.

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