November 28, 2011
Those hoping to avoid money woes in 2012 must seek financial planning advice and sidestep debt pitfalls, debt charity Consumer Credit Counselling Service (CCCS) has warned. Following a survey by the Institute of Financial Planning, it seems 26% of Brits are not setting themselves a clear budget month-by-month and the CCCS believes those who do not set themselves targets are more likely to fall into unmanageable debt. High inflation, low wage growth and rising unemployment threaten to make 2012 a difficult year for many in the UK, and the CCCS is particularly concerned about the country’s 6.2 million ‘financially vulnerable’ households. "It's never too late to put your finances in order,” said Delroy Corinaldi, Director of External Affairs at CCCS. “Setting a clear budget now is the best way to help withstand the financial headwinds in 2012 and beyond - and will leave you in a far better position to cope with any difficulties you may face in the future. "Anyone who is struggling to cope and needs advice on how to set a budget can always contact a debt charity such as CCCS, Citizens Advice or National Debtline for free help and support."