Saturday 1st of January 2011
For individuals already deep in the red and having trouble keeping their debts under control, a financially difficult 2011 could result in them seeking individual voluntary arrangement answers to help them keep afloat.
New research from Gocompare.com has revealed 61.1 per cent of Brits are expecting the new year to be a struggle from a money perspective, with the rising cost of living and escalating bills causing the most worry.
The survey, which included 3,000 adults in the UK, found the 2.5 per cent VAT increase - set to come into effect on January 4th - is weighing heavily on the minds of consumers.
John Miles, business development director at Gocompare.com, stated: "It looks like many of us will be tightening our belts even further in 2011 as money woes continue into the new year."
The findings follow recent research by Moneysupermarket.com, which showed people could save considerable cash by altering their lifestyle choices - such as giving up smoking.
By Rachel Powell
