Defaqto's experts suggest New Year’s Resolutions

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Defaqto's experts suggest New Year’s Resolutions

Mon 5th Jan 2009

Defaqto, the financial data provider, has gathered its experts together to write a list of suggested New Year's Resolutions to help people get their finances in order at the start of 2009.

David Black, Defaqto's principal consultant for banking, recommended that people overpay on their credit card debts and mortgage repayments because the current low rates of interest mean they could speed up the process of reducing their debt.

Fraser Donaldson, who is Defaqto's in-house investments expert, advised consumers to diversify their investments to avoid suffering from the current uncertainty in the financial markets.

Meanwhile Matt Ward, Defaqto's Principal Consultant for Pensions and Wealth Management, said that people should not forget their pensions.

He added: "Spare cash is likely to be hard to come by at this difficult time, particularly with Christmas having only just passed. But it is important not to let your retirement planning slip off the agenda."

Recent research by Gocompare.com showed that sorting out finances is the most popular New Year’s Resolution among UK consumers for 2009.

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