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This article is for information only. It does not constitute advice. Chase Saunders Ltd does not provide services for savings, investments, mortgages or insurance. You should seek advice on these areas from a qualified financial advisor.
People Should Look At Their Spending Patterns
People should examine their spending patterns to avoid getting into debt, according to one expert. Psychologist Dorothy Rowe believes that spenders are either financially "introvert" or "extrovert" and they way they use their money can directly affect the quality of their life, reports
The Times. Introverts allow themselves very little even if they have plenty available. However, extroverts spend more extravagantly on gifts for friends and family at the risk of putting themselves in debt.
Writing in her book The Real Meaning of Money, Ms Rowe says: "In Britain there are a lot of people who worry about getting through the week, but the majority are worrying about maintaining a lifestyle that will give them some sense of pride about themselves." This could manifest itself in terms of people buying houses they cannot afford, or alternatively in attempting to live an unsustainable lifestyle. People keen to take stock of their finances and outstanding repayments may wish to seek
debt management plans.
Created on 12/03/2007 15:57:08
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