Consumers advised to save for rainy days

Consumers should constantly set money aside in preparation for expensive times of the year, a debt consultancy has advised.

Those who build up savings throughout the year in anticipation of heavy-spending periods such as Christmas are doing “absolutely the right thing” according to Thomas Charles.

A spokesman opined that saving through a Christmas savings plan or in a bank account would reduce the likelihood of falling into debt.

He went on: “My bottom line advice to people would be that you should always be saving – always be saving for a rainy day or for periods in the year you may have higher expenses.”

And he added that consumers in need of advice on which Christmas savings companies to choose should use the internet to look for information.

In related news, a study by Sainsbury’s Bank has found that 2.8 million adult Britons purposefully ignore bank statements and bills because of concern at the state of their finances.

© Adfero Ltd

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