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Good debt management could provide 'savings cushion'

People who are struggling to save money as a result of their spiralling debts could find that seeking debt help is a good option.

According to research from Clydesdale and Yorkshire Bank - which are both members of National Australia Bank Group - the recession hasn't stopped some 81 per cent of Brits press on with their life plans for 2010 - such as starting a family or launching a new business.

However, a more worrying statistic was that 60 per cent of respondents to the survey said they hadn't learnt any financial lessons from the slump.

"By saving regularly you can build that nest egg for any occasion - particularly those smaller events or unplanned occurrences that can be financially painful," he said.

Debt management plans could help free up some extra cash to use to boost funds and keep savings looking healthy.


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