Little steps could help people take quicker strides towards their financial goals, reports
Vicky Shaw Eight signs that a friend or family member could be in financial trouble
Some 518 card payments were made every second last year by cardholders in the UK and travelling overseas, according to UK Cards Association figures. As many as one in six adults across the UK are in danger of falling into a debt crisis, according to research from the independent Money Advice Service (MAS).
The service is urging people to look out for the following signs that someone close to them might have debt problems - so they can receive help before the problems worsen. They have been in debt in the past. They have had a recent life event that has resulted in a loss of income or higher spending: for example, having a baby, being made redundant, illness, divorce or a death in the family. They are living beyond their means or overspending; they always seem to have the latest must-have items although they don’t have the matching income. They seem anxious, withdrawn or depressed. They socialise less and avoid friends. They may seem more secretive, hiding issues and avoiding talking about finances. They have changed their spending habits, either reducing spending (for example, going on fewer holidays or eating out less) or overspending (spending without a plan for repayment, such as putting luxury items they don’t really need on credit). They seem tired or are having trouble sleeping. Their weight has changed suddenly, either increasing or decreasing.
One in six adults are in danger of falling into a debt crisis
People have varied ambitions – for many couples these include taking memorable trips away