Debt recovery ‘for 50somethings’
Article Category: Debt Management Help and Advice
Many Britons take until their 50s to complete debt recovery efforts, it has been claimed.
According to Birmingham Midshires, 55-year-olds are most likely to eliminate their debt and embark on a “second life” financially.
The pressure of supporting a family and lengthening mortgage terms are suggested as possible reasons why life no longer “begins at 40″.
Jason Robinson, director of savings operations at Birmingham Midshires, comments: “After years of bringing up children and working hard, those in their 50s can look forward to a more relaxing way of life.”
But he adds that younger consumers still face the burden of “a number of economic and social factors, such as rising house prices and people having children later in life”.
David Kuo, head of personal finance at Fool.co.uk, recently advised that effective debt management is more beneficial than taking on extra work in order to boost earnings.
For more information about debt management call our advisors on 08000 122 118 for FREE, no obligation help and advice.
Leave a Reply