Debt solutions could help those trying to become debt free
Debt solutions could help those trying to become debt free
- Wednesday, 19 January 2011Single parents appear to be the most likely to be clear of debt but
debt problems are still an issue for many.
That is according to a new report by Aviva, which found that 40 per cent of single parents are debt free compared to 26 per cent of people in a committed relationship planning to have children.
It was found that the average mortgage debt is £89,098 and the average loan or
credit card debt is over £5,000.
People trying to pay off their debt may like to seek
debt advice as this could help them find ways in which to pay off their financial arrears.
It was also revealed that single parents use about 29 per cent of their monthly income in paying off their debts.
Kevin Mountford, head of banking at moneysupermarket.com, recently suggested that consumers spend their money wisely in these tough economic times.
He recommended shopping around for the best deals on goods and energy tariffs and using discount vouchers, which could reduce grocery bills.

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