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Shopping around can improve “financial fitness”

January 31, 2008 by admin  
Filed under News, News-Credit-Cards

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Consumers can improve their “financial fitness” by shopping around for the best deals on mortgages, credit cards and insurance, claims one financial expert.

Abbey said that there is certainly more that most consumers could do to ensure their finances could be improved and looking around for a better deal could make a big difference to the amount of money paid out.

Nici Audhlam-Gardiner, head of mortgages with the company, said: “It’s all about discipline, in the same way that you can be physically disciplined if you decide to get physically fit.”

She added that it is unlikely that someone who set up a bank account ten years ago is still receiving the best interest rate on the same deal.

Looking around for different offers can make a “big difference on your month by month basis, in terms of how much you’re earning”.

According to research conducted by ICM for Abbey, 21 per cent of people renewed their home insurance without shopping around and four per cent do not have any home insurance at all.

Tags: expert, Nici Audhlam Gardiner, account, abbey, head, credit, Financial economics

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