People with a lot of debt have been advised to confront the situation head on, rather than hiding from it.
Yvonne Goodwin, managing director of Yvonne Goodwin Wealth Management, said: "If you are struggling financially then get a large sheet of paper and write down for a month everything you earn and everything you spend."
This should include even small items like a morning coffee on the way to work, as every little bit of expenditure adds up over time, she remarked.
Once people have established what they spend, people can plan ahead and reorganise their finances, bringing down bills and saving money by reducing their outlay on small treats – including that morning coffee.
However, Ms Goodwin warned, some people are "burying their heads in the sand" because they are unwilling to give up old habits.
Some Britons have become very good at saving money through shopping around more for cheaper goods and services.
A recent Santander poll found the typical consumer now saves £346 a year, with people in Birmingham being particularly skilled at bargain hunting as they cut down £528 on average.
By James Francis