Debt - Singletons feel the strain of debts - 22/12/2008

Single people are said to be feeling “particularly vulnerable” about being in debt, says the Swiss-based insurance company Zurich. According to their research, one in three people who are single feel that doing so, has brought “extra financial burdens” onto their financial situations.

Seventy per cent of single people were found to have taken, no financial advice from professionals, while nearly 50 per cent, stated that having no credit card debt or overdrafts was “very important”.

Worries in relation to financial sustenance, are at the forefront of many people, especially singletons. With the level of unemployment rising, those with only a single source of income may feel greater strain on themselves.

Tony Solomon, business development director at Zurich UK Life, commented: "The research has demonstrated that there is a real need for financial advice, particularly among people who are single.

"We understand that modern life can leave very little time for people to sort out their finances. But the fact that more than a third of single adults worry about the added financial cost of being single suggests that being single in this current economic climate may be more fretful than fabulous!"

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