People have been encouraged by one financial expert to carefully manage their finances by only spending money when they can afford to do so.
Consumers looking to get
credit cards may benefit from the guidance recently offered by chartered financial planner Martin Bamford concerning debt.
He stated that people with cards should "think carefully before accumulating more expensive debt" if they are in the position where they cannot "pay off the balance in full by the end of the month".
Meanwhile, Mr Bamford, who also acts as managing director of
Informed Choice, expressed a number of views concerning store cards.
He suggests that they may offer worse rates of interest than
credit card products.
In other news, a spokesperson for the Consumer Credit Counselling Service recently called on the UK's self-employed workers to avoid merging their business and personal finances together.
This can lead to problems further down the line, he believes.
Posted by Martin Peacock.
