There are many causes of financial unhappiness. For example, sometimes people feel down about their money situations because they cannot access unsecured personal loans due to the fact they have poor credit ratings. This can prevent them from engaging in home improvements, paying for holidays, launching businesses, paying for further study and so on.
However, individuals facing such difficulties may benefit from considering taking advantage of guarantor loans. This can be an ideal way for people to access finance.
Of course, bad credit ratings are not the only cause of money worries. And, according to a study conducted by first direct, the British public was more unhappy with their finances last year than in 2010, with 48 per cent registering their disappointment in 2011 compared with 36 per cent the previous year.
The company found that a failure to save is one of UK consumers’ biggest financial regrets. Of the adults it polled, 52 per cent stated this was their greatest money-related mistake in 2011.
Commenting on this, head of savings at first direct Bruno Genovese said: “Ensuring that you plan your long-term spending is extremely important as good organisation can help you pay off debts more quickly, increasing disposable income for saving and allowing your money to work for you more effectively.”
He added that January is the perfect time for individuals to get their finances in order.
Meanwhile, first direct also found that 14 per cent of respondents regretted not paying enough into their pensions last year, while 12 per cent believed they had made a mistake by staying in rented property too long and not buying a house.
Many consumers who need to leverage credit over coming weeks and months and struggle to access unsecured personal loans from banks may look into the possibility of guarantor loans instead. This could provide them with the money they require.