Latest UK Debt News & Personal Finance | ClearDebt Newsdesk

Consumers may be able to manage their debt levels better by switching to more competitive online energy plans for their homes.

According to uSwitch.com, these products are approximately £300 a year less expensive than standard plans, which means householders could knock around 24 per cent off their bills.

And they could get cheaper still in the coming months, with the firm stating in January that npower had reignited a price war in this area.

Paying by direct debit can also get the cost down by up to £100, with a large number of energy suppliers offering discounts for transactions carried out in this manner.

Energy expert Will Sharples commented: “We can all give ourselves a substantial price cut on our energy bills today.

“Moving to dual fuel, paying by direct debit and signing up to an online plan will all help save money.”

The remarks were made as the online switching service warned the annual energy bill facing the average consumer in 2010 is £1,239, which is 36 per cent more than the company was predicting at the same time two years ago.

By Chris Trimble

Those in debt and others in the UK appear to have altered their financial attitudes because of the effects of the recession felt in 2009.

This is according to a new survey by the Charities Aid Foundation, conducted by Gfk, which found that 29 per cent now believe that possessions are less important.

Such a figure compares to the 52 per cent of respondents who claimed before the downturn that money was more essential.

Furthermore, expenditure on going out and on holidays seems to have fallen out of favour, with 44 per cent and 38 per cent respectively spending less in these areas, while 23 per cent have been saving more since the start of the year.

John Low, chief executive of the body – which hands out in excess of £1 million to charities every day – observed: “If experience from previous severe economic downturns is anything to go by, this shift in values may last throughout the lifetime of the generation affected.”

By Sarah Adie

Britons have been urged to consider saving for next Christmas now, particularly if they have found it difficult financially this festive season.

Citizens Advice has partnered with the Office of Fair Trading and will – as part of its Save Xmas campaign that has, since 2007, seen over 40,000 people attend – be running financial seminars in the new year to help people avoid Christmas debt.

In addition, the organisations have set forth a series of top tips, including planning early, working out how much is required for next year and budgeting effectively.

Head of financial capability at Citizens Advice John Rhodes said: “Christmas will have given many people a debt hangover that they might have been able to avoid.”

He went on to note that by following the steps laid out, “expensive credit [and] problem debt” could be reduced.

And such schemes may help the 32 per cent of UK adults who intend to make solving debt issues one of their new year’s resolutions.

Go Compare recently found that this proportion of people in the country intend to take such a decision.

By Sarah Adie

Those struggling with debt management issues may be able to save £1,000 by the end of 2010 if they make good financial resolutions at the start of the year.

This is according to a survey conducted by Which?, revealing that “significant savings” could be made by shopping around for better deals on products such as car insurance and broadband.

Editor with the company Martyn Hocking suggested that a good new year’s resolution would be to “face your finances head on”, advising people not to accept “mediocre service”.

“Vote with your feet and take your business elsewhere if you’re not happy,” he said.

The Which? study found that money could be kept back by opting for free water meters, searching for the cheapest petrol and changing energy suppliers.

And solving debt problems was recently found to be a favourite resolution for Britons at the start of a new year.

Go Compare discovered that 32 per cent of people in the UK plan to do this in 2010.

By Sarah Adie

Debt problems are still apparent for many Britons, as newly released figures have revealed that savings levels have dropped, while debt levels have remained stable.

Statistics from unbiased.co.uk have shown that, in the third quarter of 2009, the amount saved fell by £6 billion.

And for the same period, arrears dipped by £1 billion, facts that prompted chief executive of the company Karen Barrett to observe that people are now returning to their old ways.

It was also found that, for every pound saved during this time, 32p was borrowed and Ms Barrett said: “This is creating a serious barrier to a sustained economic recovery.”

She recommended that debtors monitor savings rates and seek counsel from independent financial advisors as only these professionals will be able to assist UK adults in finding the “best balance” between saving, borrowing and financial investments.

Earlier this month, Ed Bowsher of lovemoney.com noted that people will also have trouble putting money away in the new year, as it is likely the base rate will remain at 0.5 per cent for some time.

By Sarah Adie