‘Small sacrifices useful’ for debt management
Debt management efforts may be assisted by “small sacrifices”, it has been advised.
Julie Hedge of independent financial adviser Christie Scott’s suggests that debt management need not unduly harm an individual’s social life.
She states that a fund equivalent to about three months’ salary could be enough to lead many Britons to a more secure financial situation.
“People needn’t forsake their social life in its entirety but they could survey their spending and make small sacrifices,” Ms Hedge advises.
“Yes, it is easier for some to save than others but that’s life,” she adds.
According to the spokesperson, the implications of facing financial difficulty without any funds are much worse than the prospect of sacrificing some social freedom.
Her comments follow research from Birmingham Midshires which identified 18 to 24-year-olds as the demographic group most likely to add to their savings.
Those looking to turn a poor financial standing around could benefit from expert debt management advice.
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