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Brits `can improve their financial fitness`
1 February 2008
Shopping around for the best finance deals can improve people`s money situations, an expert claims.
Head of Abbey mortgages Nici Audhlam-Gardiner said it takes a certain degree of discipline to improve "financial fitness", akin to the efforts it takes to get physically fit.
Efforts spent reviewing personal finance could make a real difference to the amounts paid out every year, she added.
According to research conducted by ICM for Abbey, 16 per cent of people have a balance on their credit card at their lender`s standard rate, while 21 per cent of home insurance customers renew policies without comparing quotes.
Ms Audhlam-Gardiner said people often found it easier to stay with their existing provider.
"By looking around and seeing where you can get a better deal, that`s something that can make quite a big difference to the amount of money you`re paying out each year," she concluded.
She also suggested that if reviewing personal finances seemed like a big job then people should do a bit at a time.
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