28 May 2008
More than a third of people in Britain believe they will have less disposable cash in the future because of a general rise in the cost of living, a study has said.
According to Alliance & Leicester Current Accounts, 34% of those polled think they will not have as much money as usual, while 79% stated that this is because items such as food and bills are rising.
But some consumers have already opted to take control of the situation and try and offload expensive products during difficult financial times, the bank added.
With some swapping credit card deals (12%) or moving jobs (6%), others have chosen to switch debts to personal loans (7%).
Current Account Manager at Alliance & Leicester Emma Walkley noted that it is "encouraging" to see consumers being proactive.
"Taking advantage of the best financial deals on the market is always important, but more so in the current environment. We would advise people to take a good look at their finances and see how they can be improved," she asserted.
Last week, Welsh Assembly Member Peter Black argued that some debt management companies can rip consumers off.