Crunch 'causes consumers to put plans on hold'
Consumers are putting key plans for 2009 on hold as a result of the ongoing credit crunch, according to new research.
A study by CreditExpert also indicates more than half (55 per cent) of adults have concerns about reaching their goals in life, predominantly due to concerns about affordability.
The research suggests 50 per cent of people have been put off buying a car over the next 12 months, while 30 per cent have put purchasing a property on hold.
Jim Hodgkins, the managing director of Credit Expert, states there is "no doubt" that uncertainty about financial security in the future means many people are delaying some of their plans for time being.
He states that those people who are actively managing their money and understand their credit card commitments can plan for their future in a more efficient manner.
"Those that are holding off on pursuing their plans because they're worried about being refused a loan or credit should check their credit report to ensure nothing is keeping them from pursuing their life goals," Mr Hodgkins concludes.
Meanwhile, sector commentator Tracy McVeigh recently noted in the online pages of the Guardian that Brits are becoming more frugal with regard to their Christmas shopping habits this year in order to cope with the economic turbulence.
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