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As consumer continue to be negative about personal finances, some may consider debt consolidation for help
01/21/2010
A recent study shows that some consumers continue to feel poorly when it comes to their personal finances and the economy.
According to information from research firm TNS, 64 percent of consumers feel negatively about the economy in December. That number is basically unchanged since the firm last released data in September.
Furthermore, the study shows that 66 percent of consumers said they plan on reducing their personal spending in the next six months.
"We're seeing that consumers are more often negative, not positive, about their personal situation and components of the economy in the coming months," Glenn Staada, vice president of TNS said.
Staada said that consumers are feeling nervous when it comes to things like high unemployment, foreclosures and wage reductions. Furthermore, the study showed that some feel as though their personal debt will probably increase in the near future.
Those who are having trouble with trying to pay their bills may consider other options. For example, debt consolidation may provide consumers with savings on how much they pay on interest, which could help get them out of debt quicker.
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