Abacus Daily Debt News

New Year’s debt resolutions offered to Britons

Those in debt may like to heed the words of advice from professional advice website Unbiased.co.uk and its independent financial advisers, which have issued a list of its top new year’s resolutions that could help people financially.

Alan Dick of Forty Two Wealth Management suggested figuring out income and expenditure to create a spending plan might be of benefit.

And Bestinvest’s Adrian Lowcock recommended ensuring that debts are a priority. "Not all debt is created equal," he said, adding that liabilities should be organised according to the interest rate.

Further advice came from Danny Cox of Hargreaves Lansdown, who stated that people should assume control of their cash. "Don’t let your money control you," he warned, adding that the easiest way to do this is by writing all expenditures down.

These tips come after the Daily Mail recently reported figures from Aviva Investors showing how money is continually being handed over despite the downturn and increasing worries about debt, with retail spending rising by nearly seven per cent since 2007.

By Sarah Adie