Brits 'rein in expenditure'

One way in which people may be attempting to build a credit rating is by setting themselves a strict budget plan in order to ensure they can keep on top of their outgoings.

This could reduce the risk of not being able to meet a bill cost and demonstrating to a lender the individual can pay these on time is an important consideration.

Many Brits could be successfully doing this by assessing their outgoings and reining in any unnecessary costs.

For instance, new research from the Confederation of British Industry reveals many retailers believe sales in January have been low for this time of year.

Indeed, 44 per cent of respondents stated sales volumes are down on last year, although this is said to be largely in line with expectations.

The rising cost of living and the increased strain this has been placing on family budgets was cited as one of the key factors in this trend.

Posted by Gemma Walker