Reassess your outgoings and save £15 billion!
Brits could look forward to a whopping £15 billion in savings if they would only re-examine their finances, claims a new survey.
According to uSwitch.com, switching personal loan, credit card and current account providers could save the average consumer £219, a collective total of £10.2 billion.
If managed sensibly, credit is a useful and convenient way to borrow money, but with the average household debt now exceeding £7,7002, it is important to keep shopping for the best deals around.
Nick White, head of personal finance at uSwitch.com, said: "We estimate that consumers could save over £10 billion in 2006 simply by switching their credit card, personal loan and/or current account to the most competitive deal."
uSwitch.com claims that merely shopping around for a lower interest rate on a personal loan could reap dividends.
With the average debt owed currently £1,071, every Brit could save themselves £50 if they changed to a lower rate loan provider.
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