Thursday, December 28, 2006
Category:
Consolidation
According to F & C Asset Management in a recent press release, up to a third of Britons are set to make financially related new year resolutions for 2007.
The survey of 1,791 adults showed that 43.9% intended to make New Year Resolutions, of which 43.1% said these would be regarding finance.
The survey revealed that women are more likely to make resolutions than their male counterparts. More than half of those surveyed were concerned that they spend too much and don’t save enough. The favoured method for saving was shown to be ISAs with 39% or respondents stating that they would consider using them.
Commenting on the survey, Jason Hollands, Director, Head of Communications at F&C said: ‘Our research shows that the tradition of making New Year resolutions remains strong despite the fact that almost half of those intending to make them – some 45% - readily admit that they are unlikely to keep them beyond January and only 17% are confident that they will stick to their guns throughout 2007.’
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One financial resolution that homeowners could decide to make in 2007 is to consolidate their debts. A debt consolidation loan is one of many options to help pay off existing debt and could wrap several monthly repayments into one. Debt consolidation loans are available from a number of lenders and are usually secured on homes. However with a debt consolidation loan, it is important to remember that repaying borrowing over a longer term may increase overall interest charges.
