Debt Consolidation Survey
According to GE Money, today’s economic problems are the focus of consumers’ stress – much more so than they used to be. However, they are also more active in doing something about it than they used to be as well.
They have found that not only are people more in debt, and more worried about debt than they have been before – but they are also more aware of the steps that have to be taken to act on that debt. People are looking into debt consolidation programs, they are looking at ways of cutting back spending, and they are looking at ways to live a debt free existence.
The days of keeping up with the Jones’ are gone as a new era of debt awareness has come into play. According to debt advisors, the survey is not bad nor is it good from any single standpoint. They say that although it is bad regarding the amount of debt that people currently have, the fact that they are taking an active roll in doing something about it makes it a much more positive thing.
They did find that many had already entered into some kind of debt consolidation program and were already on their way to being debt free – while a whole third of their respondents are already there. Furthermore, they found that 44% of them are saving up to £500 per month.
Getting their debt under control is the most important thing to most people, and the awareness that they have now makes it a very positive outlook for the future.
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