Gregory Pennington - More extenuative appropriate to accouterment inflation, warns Gregory Pennington

Debt administration aggregation Gregory Pennington accept warned that too abounding humans are declining to accomplish any affectionate of approved savings, admitting the ample aggregate of ambiguity surrounding the approaching of the abridgement putting abounding at accident of debt.

Commenting on a contempo address by Nationwide Building Society, a agent for www.gregorypennington.com said that potentially hundreds of bags of humans are putting themselves at accident of problems with debt, because they accept no banking ‘safety net’ to await on should problems occur.

The address by Nationwide adumbrated that about a fifth (20%) of consumers do not save any money at all, with alone 33% of those questioned accordant that approved extenuative is important.

The amount of those who do not save at all rose steadily from just 17% in April, while the amount of humans extenuative consistently fell from 54% in April to 46% in July.

A agent for Gregory Pennington said: “We apprehend the numbers of humans experiencing debt problems to access as the bread-and-butter bearings progresses, and abominably the 20% of humans not extenuative annihilation are putting themselves a lot of at risk.

“Even a few hundred pounds put abreast could advice you out of a adhesive atom if, say, you accustomed an accidentally top gas bill,” she continues. Without any money to abatement aback on, there is a accident of falling into debt just by paying your account bills.”

Saving is awfully important to the bloom of the economy. As able-bodied as creating a banking assurance net for consumers, added extenuative agency that beneath money is accepting spent on chump appurtenances – which is capital for bringing aggrandizement down from its accepted 16-year high.

Gregory Pennington’s agent commented: “While the affidavit for abounding costs of active are artless by levels of extenuative or spending aural the UK, decidedly activity and food, added extenuative will advice to accompany down the prices of a lot of chump goods. If spending falls, retailers will crop that as a assurance to accompany prices aback down.

“So there are two abiding advantages of saving: money to abatement aback on if problems arise, as able-bodied as cheaper prices in the continued run.”

The agent went on to appetite anyone who thinks they may be disturbing with debt to seek the adapted debt advice as anon as possible. “For some people, extenuative is artlessly not an option, because every penny goes appear active costs or repaying debts,” she said. “If that is the case, it’s capital you seek able debt admonition as anon as possible, to stop the botheration growing any bigger.

“A debt adviser will allocution you through a ambit of debt solutions and advice you adjudge which is best for you. All of these should advice to abate your account payments and abridge your finances, which could be a big abatement while aggrandizement is still high.”

Gregory Pennington are a debt administration aggregation based in Salford Quays in Manchester. They action a advanced ambit of debt advice and advice, including debt administration plans, debt alliance and IVAs.

Gregory Pennnigton
Pennington House
Carolina Way
South Langworthy Road
Salford
M50 2ZY
Melanie Taylor
melanie.taylor@gregorypennington.com
0845 056 6480