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PPI claims: Some people 'cannot resolve money woes'

With so many Brits wondering how to pay off loan charges or meet bank claims, a number of people might not know how to resolve their financial problems.

Moneynet.co.uk spokesman Andrew Hagger explained: "I guess there are some people who don't see any way of escaping their current level of indebtedness and are struggling."

These members of the public will not even be considering how to invest for the future, he added.

Recently, a study from National Savings and Investments revealed people who plan how they will spend their cash save almost twice as much as those who worry about money.

Mr Hagger said the more effort and time a person puts into financial planning, the more they will get out of it.

He highlighted the need for schools to teach children about money management, such as how to budget and save.

When the students grow up, they may be able to use these lessons in their own life, the specialist remarked.

Jennifer Haines
Jennifer's speciality knowledge is credit card changes and balance transfers.ADNFCR-2776-ID-801351584-ADNFCR



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