Debt management 'easier in summer'
Debt management 'easier in summer'
- Thursday, 4 June 2009The summer months could be the ideal time to
manage debt due to the ease with which finances can be controlled in warmer weather, it has been suggested.
National Savings and Investments (NS&I) explains that heating bills are not the only area in which savings can be made while the sun shines.
However, Britons could actually be putting debt management under extra pressure as they put their monetary concerns to one side and enjoy the sunshine.
Some 60 per cent of people are likely to see some of their summer savings put towards a holiday, NS&I has found.
Almost two-fifths (39 per cent) also spend more on socialising as they meet friends in bars and beer gardens.
But a more cash-savvy approach could allow them to
manage debt by cutting down on transport costs and taking a walk in the sun.
Green-fingered homeowners could grow their own food in the garden, while NS&I adds that hanging washing out to dry can reduce expenditure on tumble driers.
NS&I recently revealed that some consumers would rather raise their debt management burden than raid their rainy-day savings.
Some 17 per cent of people would take out a loan - and 12 per cent a credit card - before spending money of their own that had been put aside to meet unexpected bills, an NS&I survey found.

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