A new financial year, a fresh chance to tackle debt and get saving
- 13 million people claim not to be able to save anything at all
- Two thirds of us claim we cannot save any more than we do
With consumer debt nearing 1 trillion and stark government warnings about our lack of financial provision for the future, the start of a new financial year is an ideal time to reassess your financial priorities. Recent research from IFA Promotion, the organisation promoting the benefits of independent financial advice, shows that two thirds of
IFA Promotions research also shows that nearly two thirds (64%) of people view themselves more as savers than as borrowers, yet 55% say they are unable to curb unnecessary spending to save more. This reality gap suggests that when it comes to budgeting most of us just bury our heads in the sand. In addition:
- 17% of adults readily admit they would borrow to purchase something they knew they couldnt afford.
- 15% of those who say they could save more say they intend to in the future.
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He continued, Debt is no longer a last resort, its become an easy option, while at the same time millions are putting their long-term saving provision on the never never. But there is plenty of help out there people in serous debt should see a debt counsellor, whilst those who simply need advice on how to budget better should consider seeing an independent financial adviser.
To help consumers take control of their spending habits, IFA Promotion has produced a dedicated guide. Join the Savings Revolution looks at why we need to save and how you can budget to save more, along with options where to put any extra money. You can also obtain details of local independent financial advisers to talk through the most suitable savings options for you. Call 0800 085 3250 or visit www.unbiased.co.uk/getsaving
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For further information, please contact:
IFA Promotion Lansons Communications
020 7833 3131 020 7294 3681
david@ifap.org chloem@lansons.com / richardw@lansons.com
For expert comment or case studies from over 200 media-friendly IFAs, journalists should call IFA Promotions Media Services hotline on 020 7294 3682 or search online in Media Services at www.unbiased.co.uk
1. Independent Financial Adviser Promotion
IFA Promotion was established in 1989 to promote the value and accessibility of independent financial advice to the public. It represents over 10,000 firms of independent financial advisers across the
IFA Promotion believes Independent financial advice should be:
Affordable. The option to take independent financial advice should be available, by right, to all - not just the wealthiest in society.
Convenient. IFAs should be available in the location of the consumers choice, wherever they live in the
Transparent. It must be clearly transparent to consumers who is able to offer independent financial advice and who is not.
2. Independent Financial Adviser Promotions sponsors
AXA | National Savings & Investments |
Bright Grey | |
BUPA | Old Mutual Asset Managers |
Prudential | |
Childrens Mutual | Scottish Equitable Plc |
Clerical Medical Investment Group | Scottish Life |
Eagle Star | Scottish Mutual Assurance Plc |
Friends Provident | Scottish Provident |
GE Life | Scottish Widows Plc |
GMAC Residential Funding | Selestia |
INVESCO Fund Managers Ltd | Standard Life Assurance Company |
Legal & General | Skandia UK Group |
Mortgage Express | Zurich Life Assurance Company |