Property News · January 8, 2012

Five steps to reduce debt


Four in 10 people use their credit cards to pay for groceries, while others are driven to debt just to cover the mortgage. So if you have to borrow, here’s how to be clever about itMore than 12 million people will be running up debts on their credit cards to fund day-to-day living costs to see them through January. High levels of inflation, particularly for essentials such as car fuel, food, gas and electricity, combined with real-terms salary cuts, mean that many households have started 2012 with a shortfall, according to the fifth annual Post Office Consumer Credit report.More than four out of every 10 people will rely on their credit card to buy groceries this month, 10% will meet outstanding Christmas costs and debts with plastic, while 7% will use a card to pay domestic bills. Continue reading…

Source : theguardian.com
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