Debt advice news: Consumer group offers saving tips

30/12/2009

A leading consumer group has listed ten ways in which UK residents can cut down on their debt and increase saving in the New Year.

Which? said that its suggestions could save Britons as much as £1,000 by the time the year comes to an end.

The organisation advised homeowners to check their loan instruments such as credit cards to ensure they are not paying too much in fees and charges.

Other tips offered include changing energy supplier, getting a water meter, managing savings accounts and comparing phone and broadband prices to make sure consumers get the best possible deal.

Martyn Hocking, editor of Which?, said: "If you make just one New Year's resolution this year, make it that you'll face your finances head on.

"Check what you're paying for goods and services, and shop around for the best deals. Don't settle for mediocre service either - vote with your feet and take your business elsewhere if you're not happy."

Kevin Still, director of EuroDebt, added: "For people in financial difficulty and seeking debt advice, EuroDebt would recommend a thorough review of income and expenditure.

"Income optimisation, including benefit entitlement, and shopping around for the best bank account, energy provider or insurance providers is a core part of our service in addition to providing Debt Management Plans, IVAs and bankruptcy Assistance.

"Finding an additional £50 to £100 a month disposable income can make a huge difference to the debt solutions available and the time it takes to become debt free or get your finances back under control."

Tags; Housing Debt and Bills,

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