News

09/12/2010 15:13:36

Financial planning 'empowers and builds pride'

Engaging in financial planning enables debt-laden individuals to help themselves "and feel emotionally proud to do so", it has been claimed.

George Currie, founder of Debtwatchdog.com, notes this form of financial planning avoids passing responsibility for money issues to other people, saying it helps Britons "gain strength and confidence".

Last week, MyVoucherCodes.co.uk revealed one-in-three Britons fear they will never be free of debt, with 54 per cent admitting they will always need loans or credit cards to afford their chosen lifestyle.

Finding an adviser may help people take control of their money and give them the skills for long-term financial planning, with issues such as savings accounts and personal finance products becoming clearer under expert guidance.

The wealth management expert advises writing down all outgoings can show individuals how they spend their money and work out where savings can be made, saying these can be put towards paying off debt.