Money Management

Understanding fuel spending 'can help debt management'

22-10-09, 01:54 in Money Management
Understanding fuel spending 'can help debt management'
Consumers should attempt to understand where their money is going to help them to manage their credit card debt, it has been claimed.

There is concern over the number of Brits that are in debt to their fuel supplier, with prices "clearly a concern" for many consumers, according to Which?.

A spokesperson for the consumer watchdog suggested that fuel bills are often complicated, so consumers can find it difficult to work out what they are actually spending money on.

The representative added that fuel bills should be made to resemble credit card statements, with a summary box to make it clear where money is going.

Recent research by the Citizens Advice Bureau indicated that there has been a 46 per cent rise in the number of Brits with fuel debts over the first half of 2009.

The majority of those in fuel debt are of working age, with 80 per cent earning half of the UK's average incomes.
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