Consumers encouraged to manage debts in 2010

People are being advised to look closely at the ways in which they choose to pay back their outstanding debts in 2010.

Unbiased.co.uk has recently published a number of New Year tips provided by various financial advisers.

Those looking to manage credit card debt may benefit from the opinion of Bestinvest's Adrian Lowcock.

Mr Lowcock believes that prioritising debt repayments could prove useful to people.

He said: "Not all debt is created equal. Make a list of your liabilities and organise them by the interest rate."

The expert added: "Those with the highest rates of interest should be paid off immediately."

Mr Lowcock went on to suggest that people may be able to look to the future with more clarity once they have got rid of their debts.

Last week, Unbiased.co.uk also provided the views of a number of advisers regarding effective ways in which people can finance their retirement.

Written by Tom Burroughs.