Britons looking to reduce their personal debts by overhauling their spending habits should get help from a professional, according to AXA.
Britons trying to cut their debt levels by taking control of their own personal finances need to consult with a professional adviser for best results, a new report released today indicates.
According to AXA, four in five people are now planning to get a grip on their finances by changing their spending, saving or investment habits. Around one in five said that they were "worried" about their ability to pull themselves out of debt.
However, the insurer also found that almost six in ten wish to have no outside assistance on making the life changes. Just under three in four said that they would prefer not to use a professional adviser.
Steve Folkard, head of pensions and savings policy for AXA said: "Understandably people are confused and concerned about their finances at the moment… we believe that professional financial advice and qualified guidance is essential for ensuring the right decisions are made. The financial decisions we make now, be that on investments, borrowing or cutting our monthly budgets could have a significant impact on our current and future financial stability."
Credit Action said earlier this week that the typical UK household has debts of almost £60,000, including mortgages.
