Cash point

While most Brits in debt say it’s their own fault, more than a third blame banks and lenders for allowing them to get into financial difficulty.

People think banks make it too easy to get money, allow small minimum repayments and don’t check if people can afford repayments, a website poll reveals. Two-fifths told vouchercodespro.co.uk they’ve been in the red on and off since they were old enough to borrow. A fifth couldn’t remember a time when they weren’t struggling.

If you have debt, try to take control. Even making small extra payments on credit cards will mean you pay off what you owe quicker and more cheaply. Paying the minimum each month covers the interest and not much else.

A £2,500 balance, on a typical card charging 18.9%, will take 19 years and cost £2,493 interest paying just the minimum 3%.

Pay an extra £20 a month and it will be cleared in five years and 10 months. An extra £50 will mean it’s gone in three years and one month.