New Year's the time to sort out those savings, credit cards and loans

Thursday, December 29, 2005

With the time for New Year's resolutions approaching, a financial review of savings, investments, credit card spending and loan commitments is being encouraged by finance experts.

Moneyfacts.co.uk, the financial product comparison website, has suggested that a New Year's resolution to get personal finances in order could be the perfect idea to encourage the sorting of money issues.

"There are thousands of consumers who are paying over the odds for borrowing and life cover and receiving measly returns on savings and current account credit balances," said Andrew Haggar of Moneyfacts.co.uk.

"Whilst personal finance will never be an exciting subject, the lethargic stance taken by people who are prepared to stay loyal to a financial provider no matter how poor the deal they are getting, can prove an expensive mistake."

The call to review finances comes following a year when Britons have seemingly turned away from the credit and debt inclined society of previous years and begun to get a grip on savings and investments.

Recently, both Alliance and Leicester and Leeds Building Society have announced news encouraging the opening of savings accounts.

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