People planning to pay down debts in 2012

Wed, 04 Jan 2012

Paying back money owed is among the top New Year Resolutions for people across the UK, new research has shown.

Carried out by Skipton Building Society, the study revealed 13 per cent of those questioned are planning to do their best to clear unsecured debts in 2012.

According to the investigation, 40 per cent of respondents are hoping to stick to at least one financial commitment in the coming 12 months.

It was shown that 31 per cent would like to save more this year, while 17 per cent wish to generally manage their monetary matters better and four per cent aim to pay off or reduce their mortgage.

Tracy Fletcher, head of corporate communications at the group - which was founded in 1853 and is now the fourth largest building society in the UK, with 103 branches - said it is encouraging to see people trying to reduce the likelihood of them encountering debt difficulties.

The industry figure stated: "The challenging economic climate continues to bite and to make it harder for people to both make ends meet and save."
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