Loan information research reveals negative effect of money woes
New research has claimed that many UK adults believe concerns about debt have had a negative effect on their health and personal lives.
Many Britons believe that personal finance problems have had a negative effect on their health and personal lives, new loan information figures have suggested.According to Research conducted by GE Money Home Lending, 45 per cent of adults think their health and relationships suffered as a consequence of their poor financial situation.
The loan information figures, which were produced on behalf of moneybasics.co.uk, found that 12 per cent of Britons feel they are "burdened" by their money troubles.
Almost 500,000 Britons have endured strained relationships because of their financial problems, the research suggests, while the most common health problems include depression, stress and excessive drinking.
In spite of this, the report found that consumers intend to reduce their borrowing by a total of £44.7 billion in 2010.
In addition, it was revealed that the average person aimed to cut unsecured debts by £2,572.
Of the survey results, psychologist David Moxon said: "Getting yourself financially healthy takes time, dedication and commitment, just as it would to get fit in the gym, but the long-term benefits are equally as important."
Moneybasics.co.uk, which is a joint-venture between GE Money Home Lending, Credit Action and the Consumer Credit Counselling Service, has created an online financial fitness test to help Britons to gauge the state of their personal finances and plan to improve them.
Posted by Rosie May
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