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Bank Loan: UK consumers have continued 'pre-recession' spending

UK consumers have continued to spend as they did before the recession and are failing to acknowledge their financial situation, according to an expert.

Recent research commissioned by the Institute of Financial Planning in association with National Savings and Investments has revealed that just three per cent of Britons never worry about their finances, compared to 12 per cent in 2009.

Overall, 43 per cent of people admitted to worrying about money 'more often than not' and 17 per cent are consistently concerned about it.

Michelle Slade, spokeswoman for financial website moneyfacts.co.uk, expressed her belief that more people are going to experience money worries in the current economic climate.

She said: "Despite the fact that costs have gone up, a lot of people seem to think that they can still have the lifestyle that maybe they have had previously. They are trying to keep up with friends and family with higher salaries."

Posted by Amir Hussain

Amir specialises in personal loans, consumer debt and debt management ADNFCR-2776-ID-800252529-ADNFCR



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