The Money Stop

British consumers are being encouraged to make sure that they only borrow what they can reasonably pay back.

Debt advice firm Thomas Charles is calling upon Britons to take control of their finances following the expensive Christmas period.

The company says January and February are some of the worst months for consumers when it comes to falling into debt.

This is put down to over spending during the festive season and often results in people borrowing more money to see them through the difficult period.

James Falla, director of Thomas Charles, says consumers need to ensure that they are only borrowing money which they can afford to repay.

“If you are taking a loan, then you should know full well that you have to pay back an amount every month,” he said.

Consumers are also advised to take a proper look into the best ways of borrowing money and see which method is best suited to their circumstances.

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