New research from the Post Office has shown that debt consolidation loans in the UK could be rendered obsolete if consumers simply saved a small portion of their monthly incomes.
People all across the UK are having to take on debt consolidation loans as their monthly incomes have become unexpectantly stretched as a result of inflated mortgage repayments added to other household bills.
The figures from the Post Office show that at the moment hardly anyone in Britain saves a significant part of their income for a rainy day, with the average yearly savings account only being added to by £172.69.