Lucy Woolfenden, Marketing Director at Yolt, comments on the Treasury Committee’s report on household finances
By FF Newsroom · 26 July 2018
Lucy Woolfenden comments:
“Interest rates are at historic lows so borrowing becomes attractive – but as research has shown, too much debt can be bad for your wealth and your mental health. Staying on top of your money is key but it can be easy to ignore so thankfully there are ways to help you with this. Money apps mean you can check in on your saving and spending habits whenever you need to, which makes saving and budgeting so much easier than using spreadsheets – and Yolt research shows that 70% of UK consumers now use a financial app to manage their finances (89% of millennials). Being smart about money habits means getting into regular saving habits to ensure you have a 'rainy day' fund to protect against loss of work or unexpected costs.”