Commenting on the call from the chief financial regulator, Andrew Bailey, Chief Executive of the Financial Conduct Authority, for government to tackle the looming debt crisis, Tom Lyon, money expert at Uswitch.com, says: “Over the past ten years households have increasingly found it difficult to stay on top of their finances, as sky rocketing bills contrasted by stagnant wages has left consumers struggling to make ends meet.
“Unsurprisingly, perhaps, many have turned to the cheap credit available – as a result of record low interest rates – to manage their finances. However, in recent months there has been a tightening of belts, as consumer spending has fallen, while debt levels continue to soar.
“If you are struggling to pay your bills it is worth checking if you can be paying less on a different deal – saving even a few pounds each week can make a huge difference over the year. If you are concerned about your level of debt and want help to get out of debt, speak to a debt charity like StepChange.”
It’s all about “U”!
Thank you for indulging us over the last 20 years by using a small ‘u’ and a big ‘S’ when writing about our brand in your articles.
We are delighted to let you know that you are now off the hook - it’s big U’s all the way (and small s’s) as we undertake our biggest ever rebrand - so let your autocorrect go wild!
Uswitch is the UK’s top comparison website for home services switching. Launched in September 2000, we help consumers save money on their gas, electricity, broadband, mobile, TV, and financial services products and get more of what matters to them. Last year we saved consumers over £373 million on their energy bills alone.
Uswitch is part of RVU, a new business that also owns Money.co.uk and Bankrate.
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