British adults 'fall further into debt'
www.moneynews.co.uk > Debt > British adults 'fall further into debt'
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British adults 'fall further into debt'
Thu 31st Dec 2009
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The website found that in the third quarter of this year, consumer savings levels had fallen again, dropped by £6 billion to £13 billion, which is down from the year's high of £19 billion in the second quarter.
However, debt levels have only slightly decreased, with just a £1 billion drop in the third quarter from the £5 billion levels in the second quarter.
Karen Barrett, chief executive of Unbiased.co.uk, commented: "After the dramatic retreat from savings in favour of paying off personal debt in the first half of 2008, consumers are now slipping back into old habits."
Earlier this month, the price comparison site advised its users to start thinking ahead about their savings in 2010, to avoid falling into financial difficulty when facing any unexpected expenses.
Click here for more debt news
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