Debt Free News

Financial business finds 33% of consumers do not plan debt issues ahead of time

January 2, 2007

A perhaps not so surprising (To our debt free news sites anyway) report states that nearly 33% of the adults in the UK or right under about 12.5 million UK residents do not plan for their financial life ahead of time. The study shows that adults in the UK simply do not want to think about their financial future and plan it our properly.

While our debt free site is based out of the US, we can’t help but report this finding to our debt free news readers who may think the US has it bad – but the UK has surprised many (again, not our debt free news room, but) by producing such an interesting report.

For many, the UK is considered a region of kind, courteous, and well planned people - not so much as far as the well planned goes. It seems one in three adults do not feel it is necessary for them to plan their debt lives ahead of time or plan in anyway fro their financial futures.

When we explain to our debt free news readers and our patrons at this site who are looking for better debt consolidation resources that it really only takes a small amount of time to look ahead and plan their financial future (in the beginning it may take a little time) to check financial issues and plan for their futures at home, it does come as a bit of a shock than UK residents in an overwhelmingly amount refuse to do so. In fact, many of the people that participated in this UK report that did state they do plan ahead – only said they did it minimally.

The new debt planning and financial planning report was produced by the well known financial protection company AXA (AXA.com for more details).

In the day and age where we find ourselves (on both sides of the pond that is) in need of some serious financial discipline, it is not a great thing to know that adults are simply not planning ahead well enough. It is vital that all workers plan for their financial future. You cannot become debt free or debt consolidation savvy if you do not plan.

One good thing that we noticed in this report is that it does say that people need only enhance the time they spend reviewing and planning their debt issues and money planning to a measly fifteen minutes a week – that’s only one hour out of your time each month to get things moving. Yes, that is all out debt free and debt issue consumers need to contribute to getting their financial future planned. When you think of it that way against the extreme importance it is to plan ahead these days –no one should be without planning in some way, shape, or form for their future lives regarding debt and finances.

By doing so, the AXA report says that consumers in the UK that they spoke to could in fact save thousands of pounds each year that they work so hard to earn in the first place each year. AXA believes that consumers can save about forty percent more with their advice as well as reducing their personal debt by almost a quarter.

The new research report additionally states that the typical adult living in the UK had only saved a measly £1,003 in 2006. Also, 61% of the adults surveyed said they saved no money in 2006.

We will be watching to se if the debt free situation and financial planning issues change in this new year.

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