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Weekly debt management roundup

18/06/2010

Welcome to Money News, bringing you your Friday roundup of the issues that have been affecting your personal finances this week.

A commission set up to review the banking system in light of the recent financial crisis has said that the industry needs "profound reform".

The Future of Banking commission recommended the break-up of integrated retail and investment banks and suggested that high street banks should provide "safe-haven" accounts that did not take any risks with their customers' money.

The Centre for Policies think tank has been calling for a shake-up in the way that the UK's savings regime works. They slammed the current system of Pensions and ISAs as "confusing and complicated".

Finally a report by insolvency experts has found that young people were less likely to seek professional advice for their debt problems, often preferring to risk bankruptcy rather than getting their debt problems resolved.

The Nationwide Consumer Confidence index fell significantly in May, dropping by ten points to 65, just ten points higher than this time last year. Factors outside of the control of most consumers like the BP disaster, volcanic ash and government initiatives to reduce national debt may have an adverse impact on many household budgets and retirement plans.

If today's Money News has made you think more about your finances, why not take the Debt Calculator test on our website to see how our debt management solutions could help you and your family. ADNFCR-2613-ID-19845727-ADNFCR