UK Money News
3rd March 2008
Brits 'apathetic' about money
Too many Britons are apathetic about sorting out their money problems, according to a leading insurer.
Responding to the Thoresen review, which recommended the establishment of a Money Guidance service under the control of the FSA, AXA said "apathy is rife" when it comes to personal finance.
One of the key factors in making a success of the new service, AXA warned, would be how well it was marketed.
"In order to get people to consider using the service in the first place we need to learn from other successful publicly funded consumer awareness campaigns which have been aimed at changing consumer behaviour," an AXA spokesman said.
"Campaigns such as drink-driving, wear a seat belt, anti-smoking etc clearly demonstrated the consequences of not taking action, resulting in individuals taking positive action."
The Thoresen review comes at a time when record numbers of people are seeking specialist advice about debt problems.
An era of cheap credit encouraged thousands to over-extend themselves and, with the economy slowing and the credit crunch taking hold, many are now struggling to keep their heads above water.
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