People urged to take steps towards becoming debt-free
People urged to take steps towards becoming debt-free
- Thursday, 11 March 2010Consumers are being encouraged to spend more time "filling the gaps" in their personal finance knowledge in order to help them become
debt-free.
The Consumer Credit Counselling Service (CCCS) states that bad personal money management is behind many
debt problems.
It is urging people to use its new online service Money Matters, a free tool that offers "impartial and generic" guidance for personal finance issues.
CCCS spokeswoman Frances Walker said: "Managing your money efficiently is important for both short and long term happiness.
"During a recession, nobody can afford to ignore good money management which could even stave off a developing
debt problem."
Effective money management may become even more pertinent for consumers during 2010, following claims that they could be in for more tough times.
Director of research for Mintel Richard Perks said that "on the whole" incomes are starting to be squeezed again, with rising taxes and interest rates causing a situation that "is really going to topple consumers".
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