• Business
  • Life
  • Celebrity
  • Sport
  • Blog
  • Auto
  • Tech
Stories from SWNS
Advertisement
  • Home
  • News
    5 Interesting facts about online casinos

    5 Interesting facts about online casinos

    Curses of Cousins by Cliff Bacchus

    Curses of Cousins by Cliff Bacchus

    Operation Bluebird by Harry Old

    Operation Bluebird by Harry Old

    Family miraculously survive huge gas explosion

    Family miraculously survive huge gas explosion

    Deputy Chief Medical Officer’s elderly mum receives her first dose of Covid vaccination

    Deputy Chief Medical Officer’s elderly mum receives her first dose of Covid vaccination

    FOOL’S GOLD: Poetry and Postcards

    FOOL’S GOLD: Poetry and Postcards

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Business
  • Life
    • Celebrity
  • Tech
    Spending More Time Online? How to Make the Most of Your Time

    Spending More Time Online? How to Make the Most of Your Time

    Why Now More Than Ever Healthcare Needs To Go Digital

    Why Now More Than Ever Healthcare Needs To Go Digital

    The Impacts of Technology in the Casino Sector

    The Impacts of Technology in the Casino Sector

    How IoT Is Shaping The Various Aspects Of The Healthcare Industry?

    How IoT Is Shaping The Various Aspects Of The Healthcare Industry?

    How Can Robots Take Their Place in Casinos?

    How Can Robots Take Their Place in Casinos?

    Three Elearning Trends That Point To The Importance Of Mobile Learning Solutions

    Three Elearning Trends That Point To The Importance Of Mobile Learning Solutions

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Review

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    macOS Sierra review: Mac users get a modest update this year

    Hands on: Samsung Galaxy A5 2017 review

    The Last Guardian Playstation 4 Game review

    Intel Core i7-7700K ‘Kaby Lake’ review

No Result
View All Result
  • Home
  • News
    5 Interesting facts about online casinos

    5 Interesting facts about online casinos

    Curses of Cousins by Cliff Bacchus

    Curses of Cousins by Cliff Bacchus

    Operation Bluebird by Harry Old

    Operation Bluebird by Harry Old

    Family miraculously survive huge gas explosion

    Family miraculously survive huge gas explosion

    Deputy Chief Medical Officer’s elderly mum receives her first dose of Covid vaccination

    Deputy Chief Medical Officer’s elderly mum receives her first dose of Covid vaccination

    FOOL’S GOLD: Poetry and Postcards

    FOOL’S GOLD: Poetry and Postcards

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Business
  • Life
    • Celebrity
  • Tech
    Spending More Time Online? How to Make the Most of Your Time

    Spending More Time Online? How to Make the Most of Your Time

    Why Now More Than Ever Healthcare Needs To Go Digital

    Why Now More Than Ever Healthcare Needs To Go Digital

    The Impacts of Technology in the Casino Sector

    The Impacts of Technology in the Casino Sector

    How IoT Is Shaping The Various Aspects Of The Healthcare Industry?

    How IoT Is Shaping The Various Aspects Of The Healthcare Industry?

    How Can Robots Take Their Place in Casinos?

    How Can Robots Take Their Place in Casinos?

    Three Elearning Trends That Point To The Importance Of Mobile Learning Solutions

    Three Elearning Trends That Point To The Importance Of Mobile Learning Solutions

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Review

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    macOS Sierra review: Mac users get a modest update this year

    Hands on: Samsung Galaxy A5 2017 review

    The Last Guardian Playstation 4 Game review

    Intel Core i7-7700K ‘Kaby Lake’ review

No Result
View All Result
Stories from SWNS
No Result
View All Result
Home Uncategorized

Debt mountain rises as each person owes £6000 in unsecured finance

by
April 5, 2010
in Uncategorized
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The average British adult owes close to £6,000 in non mortgage-related debt, a new report has revealed.

A study of 3,000 people found the majority are still struggling under the strain of big balances on either credit cards, loans, overdrafts or finance agreements.

This is despite a large percentage making inroads into their debts over the last 18 months after the recession provided a financial wake-up call.

The report found the typical Brit has a credit card debt of £1,747 due to overspending on clothes, shoes, gadgets and furnishings.

They also owe another £3,077 on loans taken out to cover cars, weddings, holidays and house repairs.

A further £518 of debt is owed on bank overdrafts, with most people also owing around £646 on finance deals to cover kitchens, sofas or other household goods.

That adds up to an average personal deficit of £5,988.

A spokesman for lovemoney.com, which carried out the research said: ”It’s a shame that the average Brit has so much debt, but I’m not surprised.

”It was way too easy to borrow during the economic boom and it’ll be a long time before we’ve all nursed our finances back to good health.

”If you’ve got big debts, it’s crucial that you should start budgeting. Find out exactly how much money you’re spending every day and then you may be able to spot areas where you can save.

”There are lots of tools that can help you budget better including lovemoney.com’s own online banking service.

”It’s also worth trying to increase your income if you can. Could you possibly get a second job at the weekend? Or maybe rent out a spare room in your home.”

The poll shows just over half of those questioned are fully aware of the debt they are in – with 47 per cent admitting it is because they spent more than they earned.

A third claimed they have never been very good at managing their money, while 12 per cent blamed their situation on losing their job.

A quarter said they were forced to take out overdrafts and credit cards to cover everyday necessities such as petrol and food.

Fourteen per cent have taken out loans to buy a new car, while 13 per cent used one for home improvements.

Unfortunately, 50 per cent of people can only afford to pay off the minimum amount on what they owe each month – and estimate they will be in debt for another four years at least.

And for 12 per cent, the amount they owe is going up, rather than down.

The spokesman from www.lovemoney.com added: ”If you can only afford to make the minimum repayments, you may be in a real debt crisis.

”The best way out of a debt crisis is to get free counselling from one of the debt charities such as National Debtline.

”These charities can then help you negotiate new payment terms with the banks and you may not have to pay any interest as well. That could help you really get on top of your debt.

”The worst thing to do is put your head in the sand. Tell your lender that you’re struggling and you may get a more sympathetic response than you expect.”

The study also revealed the top ten UK cities which are in the most debt – with the university city of Exeter taking top spot.

The average Exeter resident owes a staggering £7,207.31 – that’s £1,217.47 more than the national average.

People living in the Devon holiday hot spot owe approximately £1,219.51 on credit cards and a further £3,414.63 in loans.

They also have overdrafts totalling £1,335.37 and finance deals worth £1,237.80.

The second worst debt city is Edinburgh, where people owe an average of £6,922.22.
Third place went to Cardiff where unfortunate adults have debts totalling £6,771.74.

Leeds, Swansea, Oxford and London also appear in the top ten list.

TOP 10 DEBT HOTSPOTS

1. Exeter – £7,207.31
2. Edinburgh- £6,922.22
3. Cardiff – £6,771.74
4. Cambridge- £6,755.17
5. Leeds – £6,694.45
6. Swansea – £6,694.45
7. Oxford – £6,634.06
8. London – £6,567.38
9. Manchester- £6,413.35
10. Brighton – £6,031.25

Previous Post

Welcome to the TV graveyard – analogue televison mountain created by digital switchover

Next Post

22-year-old woman dies in Walkabout bar in Plymouth

Next Post

22-year-old woman dies in Walkabout bar in Plymouth

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 81 Followers
  • 43k Followers
  • 103k Subscribers
  • 22.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Women love cheesy chat up lines, a study has revealed

Top 20 cheesy chat-up lines ladies really love

March 5, 2014
The top ten most well-known bingo phrases

The top ten most well-known bingo phrases

January 21, 2014
The horses thunder towards a jump at the Grand National

Amazing racehorse names which never made it

April 23, 2014
HGH Injections Brands: Which Ones Are Best?

HGH Injections Brands: Which Ones Are Best?

January 14, 2019
Chris Fear, 33, outside the Coral betting shop which is refusing to pay out on his 485/1 winning bet

Boycott Coral! Bookmaker faces protest after refusing to pay out on a football fan’s 485/1 bet

184
Women love cheesy chat up lines, a study has revealed

Top 20 cheesy chat-up lines ladies really love

147
Women feel invisible to the opposite sex at the age of 51, researchers found

Women begin feeling invisible to men ‘when they turn 51’

138
UKIP candidate claims Jews murdered each other in the Holocaust in masterplan to create State of Israel

UKIP candidate claims Jews murdered each other in the Holocaust in masterplan to create State of Israel

105
Top 5 RTG Games to Try in Online Casinos

Top 5 RTG Games to Try in Online Casinos

February 25, 2021
How to choose a lawyer in Latvia?

How to choose a lawyer in Latvia?

February 23, 2021
3 Simple Luxuries That Can Transform Your Daily Routine

3 Simple Luxuries That Can Transform Your Daily Routine

February 22, 2021
Chelsea Headed To Champions League Return In Good Form As Upcoming Opponents Atletico Get Timely Boost

Chelsea Headed To Champions League Return In Good Form As Upcoming Opponents Atletico Get Timely Boost

February 19, 2021

Recent News

Top 5 RTG Games to Try in Online Casinos

Top 5 RTG Games to Try in Online Casinos

February 25, 2021
How to choose a lawyer in Latvia?

How to choose a lawyer in Latvia?

February 23, 2021
3 Simple Luxuries That Can Transform Your Daily Routine

3 Simple Luxuries That Can Transform Your Daily Routine

February 22, 2021
Chelsea Headed To Champions League Return In Good Form As Upcoming Opponents Atletico Get Timely Boost

Chelsea Headed To Champions League Return In Good Form As Upcoming Opponents Atletico Get Timely Boost

February 19, 2021
SWNS

SWNS all rights reserved. Copyright 2020

Follow Us

Browse by Category

  • Auto
  • Blog
  • Business
  • Celebrity
  • Gaming
  • Life
  • Lifestyle
  • News
  • Pictures
  • Property
  • Review
  • Sport
  • SWNS
  • Tech
  • Travel
  • Uncategorized

Recent News

Top 5 RTG Games to Try in Online Casinos

Top 5 RTG Games to Try in Online Casinos

February 25, 2021
How to choose a lawyer in Latvia?

How to choose a lawyer in Latvia?

February 23, 2021
  • About
  • Advertise
  • Privacy & Policy
  • Contact

Real Fix is a trading style of South West News Service Limited.
Copyright © 2020 South West News Service Limited.

No Result
View All Result
  • Business
  • Life
  • Celebrity
  • Sport
  • Blog
  • Auto
  • Tech

Real Fix is a trading style of South West News Service Limited.
Copyright © 2020 South West News Service Limited.