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Advice Needed on Controlling Debt - March 2007 |
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| New research shows
that financial apathy is rife among UK consumers, with one in three
still unaware of how much they are paying back each month, and unaware
of the total amount of their outstanding credit. The findings have underlined that quality financial advice is more essential than ever before, in a credit-driven climate of unprecedented consumer spending. The research, published by UK secured loan provider Picture Financial, urges consumers to constantly fine-tune their financial arrangements, to make use of the best options available. Benefits for All The report stated that even the 78 per cent of consumers who said they were comfortable with their level of credit could benefit from constantly checking their options. “Regular sorting of finances, particularly credit and borrowing, is absolutely crucial in making sure people are managing their money well, and using it more effectively,” said Picture Financial’s marketing director, Julia Dallimore. It has also been highlighted that quality advice is important in regards to investments. Separate findings by ‘Which?’ magazine underline the importance of a good financial advisor to coax nervous consumers back into the investment market. The ‘Which?’ findings have shown that over half of consumers are disillusioned by the financial services sector, due to recent controversies and problems. Only 47 per cent of consumers trust the financial services industry and 21 per cent have had a bad experience with a financial company, according to ‘Which?’. The consumer body interviewed 528 people for the survey, and claims it shows the industry has a long way to go to regain the full trust of the public. Would you like a free financial review? See if you can save money by getting more suitable financial products. Call us on 02871 273030 to discuss. © Copyright 2007 Principle First Financial Services Would you like to use this article on your site? Email roisin@principlefirst.co.uk to find out more. |
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