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Brits in debt 'should sort out money problems before retiring'
Older workers should ensure they are financially prepared for retirement.
This is according to Yvonne Goodwin, managing director of Yvonne Goodwin Wealth Management, who said many people in the general public have spent money on credit cards that run at much higher interest rates.
Zero per cent credit cards were highlighted in particular, as the charges can often jump significantly once a specific promotion has ended.
People who find themselves struggling for cash before their working life ends should consider seeking advice from a free debt management agency, she explained.
"That's generally what people should do as the first step," Ms Goodwin stated, as they can then formulate a plan for paying back money owed over a certain time frame.
Her comments followed the recent release of Aviva's Real Retirement Report, which showed 73 per cent of those aged over 55 are afraid of the effect increasing living costs will have over the next half-year.
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This is according to Yvonne Goodwin, managing director of Yvonne Goodwin Wealth Management, who said many people in the general public have spent money on credit cards that run at much higher interest rates.
Zero per cent credit cards were highlighted in particular, as the charges can often jump significantly once a specific promotion has ended.
People who find themselves struggling for cash before their working life ends should consider seeking advice from a free debt management agency, she explained.
"That's generally what people should do as the first step," Ms Goodwin stated, as they can then formulate a plan for paying back money owed over a certain time frame.
Her comments followed the recent release of Aviva's Real Retirement Report, which showed 73 per cent of those aged over 55 are afraid of the effect increasing living costs will have over the next half-year.
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Published: 05/07/2011
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