Getting financially fit requires discipline
Article Category: Debt Management Help and Advice
Getting financially fit requires the same discipline as training to get in shape physically, according to Abbey.
The high street bank says that spending some time reviewing personal finances can make a substantial difference to the amount of money paid out each year.
Nici Audhlam-Gardiner, head of mortgages at Abbey, says that a mortgage is probably most people’s biggest outlay so they should be aware when their present scheme is coming up for renewal and make sure they are on the best rate available.
She added: "Likewise, credit cards… it’s always a good idea to look at whether you can get a better deal, especially if you’ve got a balance on your credit card.
"There’s certainly more that we can all do to improve our financial fitness… it’s all about discipline, in the same way that you can be physically disciplined if you decide to get physically fit."
According to research undertaken by ICM for Abbey, 16 per cent of people carry a balance on a credit card at their lender’s standard rate.
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