Guiding consumers since 2009

Millions 'dip into savings' during January

By Staff Writer

From Qck.com

14 January 2008

Research by Norwich Union in the UK suggests that the financial pressures of the new year are such that around 40 million Britons will use their savings or some form of credit to pay their bills during January.

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Furthermore, the company reports that when it comes to personal finances, January is considered the most difficult month of the year by around 43 per cent of the UK population.

Paul Stokes, head of marketing and communications from Norwich Union, commented: "Everyone wants to have fun and enjoy the festive period but a little planning could mean people start the year with a little less financial worry.

"It's not about taking drastic action, even if people just tot up what they spent this year and think about saving a small amount each month from February onwards they'll be in good stead."

Research published by the Post Office last week suggested that an increasing number of UK consumers are becoming reliant on credit cards to fund their everyday living expenses.

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