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5.4 Million Spend More Than They Earn

Continuing to spend more than they earn; 5.4 million Brits put their financial stability at risk…

A staggering 11% of the population or 5.4 million people spend more than they earn every month. In addition to this 13% break even and 53% end up with less than £100 in their current account when all expenditure for the month has been covered. With Credit Action reporting that current personal debt in the UK is £1.64bn this is surely a massive cause for concern.

Craig Gedey Marketing Manager at Debt Advisory Line said: ‘These figures quite obviously show that people are continuing to live beyond their means when perhaps they should at least consider or investigate the benefits of a Debt Management Plan.’

‘We talk to many people who want to apply for a loan to consolidate their debts. This is fine is some circumstances but people need to understand that borrowing your way out of debt in most instances is simply not possible.’

‘We work with customers to find them the best solution for their circumstances. As Debt Management Provider of the Year 2008 and 2009  we understand how debt affects people’s lives and we thrive on providing award winning services with integrity, empathy and confidentiality.’

For more information visit www.debtadvisoryline.co.uk or call us FREE on 08001577254 today.