'Switch energy supplier' to balance family budgets

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People eager to balance out their family finances may find they are able to do so when they switch energy supplier.

Managing director of moneymaxim.co.uk Mark Bower said individuals are likely to find moving from a period of spending and borrowing to a time of saving will take time.

The industry figure said it is important people endeavour to reduce their credit card bills month by month and attempt to move debt onto a cheaper repayment programme.

He explained doing so will enable people to once again start putting money to one side.

"For most this won't happen overnight, but over time [this] can help to rebalance both personal budgets and savings pots for the future," Mr Bower added.

His comments come after managing director at the Debt Advice Foundation David Rodger claimed a number of people are currently trying to avoid paying essential bills - such as those made to dual fuel providers.

Posted by Richard Eden

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