Tuesday, January 20, 2009
Category:
Secured Loans
According to research from Alliance and Leicester Savings, one in ten adults intend to start saving for the very first time in 2009.
A third are hoping that they will be able to save more in this new year than they did in 2008.
Saving is at the top of the agenda for most in 2009 with spending cuts being adopted by more than a quarter of people surveyed. The top 5 resolutions according to Alliance and Leicester savings, are taking exercise regularly for 40 per cent of those surveyed, losing weight, for 39 per cent of those surveyed. Cutting down on spending was stated by 26 per cent of individuals, and 25 per cent stated that they wanted to save more money. Learning a new skill was important to 20 per cent of individuals.
Traditional new years resolutions slipped down the list this year, as worrying about money has increased. Just one in eight individuals say that they will be drinking less alcohol, one in ten plan to give up smoking and 9 per cent are looking for love.
Commenting on the survey, Hetal Parmar, Manager for Savings at Alliance & Leicester said: "The tradition of kick-starting a New Year with a ‘wish-list' of resolutions clearly lives on. Our research found the old favourites of exercising more and losing weight snatching the top two spots for 2009. However, finances are clearly also a big priority for us all, with Brits wanting to cut down on their spending and to save more of their hard earned cash - over and above wanting to stop smoking or to find love!"
10 per cent of individuals plan to start saving for the first time in the New Year, whiles 32 per cent say they will be saving more next year than last. Younger ones among us say that they will be increasing their savings. Not all of us think that they will be able to increase savings next year however as 9 per cent admit that they will save less than they were able to in 2008. Up to a quarter say that they won’t have any spare cash at all in 2009.
..........................................................................................................................
For those who resolve to get their finances sorted in the new year, or who are thinking about making their home a little newer in the new year, a secured loan could be on the list of financial considerations for homeowners. One of many options available for finance, a secured loan could be used to consolidate debt in the new year. If using this type of finance to consolidate debts, it is a good idea to close accounts once credit cards are cleared.
If on the other hand homeowners are looking to make long awaited home improvements, a secured loan could provide the funds required to extend making room for a growing family. Smaller scale projects such as refitting kitchens and bathrooms could also be financed with a secured loan. Whether it be for debt consolidation or home improvements, homeowners should remember that repaying borrowing over a longer term may increase over all interest charges.
