Brits 'becoming more focused on financial wellbeing'

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Brits 'becoming more focused on financial wellbeing'

Individuals across the UK are becoming more focused on improving their finances and managing their money carefully, it has been revealed.

Gail Goldie, product and marketing director at Santander Cards, said there is an increasingly large section of society that is cutting back on its level of borrowing and is becoming more financially responsible.

She commented: "Yes, we absolutely are seeing that people are increasingly paying down debts and are looking to be a bit more focused on managing their finances."

Ms Goldie added that people are now focused making their monthly pay packets go further and reducing borrowings, and being sensible with their finances is one part of this more level-headed approach to spending.

According to the Precious Plastic 2012 report from PricewaterhouseCoopers, levels of unsecured borrowing fell for the third successive year by over £355 per household in 2011.

However, the average UK household continues to hold approximately £7,900 of debt.

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