People becoming averse to getting into debt

Mon, 13 Feb 2012

People in the UK are focusing on keeping out of and looking to pay down rather than accumulate it.

This is according to Gail Goldie, product and marketing director at Santander Cards - part of the Global Santander cards division that has operations in 11 countries - who noted individuals are thinking more carefully about their financial situation as a result of the current economic environment.

The industry figure suggested consumers are increasingly looking to make their income stretch further at the moment.

Ms Goldie stated: "We absolutely are seeing that people are increasingly paying down debts and are looking to be a bit more focused on managing their finances ."

And while people will still be required to borrow sometimes, there continues to be more focus on how they are able to get the most out of their spending.

Her comments come after media officer at Money Advice Trust Paul Crayston recently suggested the next 12 months will see increasing numbers struggling with , with wider economic conditions leading to the emergence of a different profile of consumer in arrears .
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