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Despite concerns over the credit crunch, the public’s financial confidence remains buoyant, a new study indicates.

According to Lloyds TSB Corporate Markets’ latest Consumer Barometer, the nation’s optimism was driven by their faith in job security. Some 20 per cent of Britons feel more secure in their present employment than they did this time in 2005 - and with 18 per cent stating that they are less confident, the positive balance of two per cent was revealed to be the highest recorded since July 2005.

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Large numbers of young people are getting into debt situations from which it is difficult to recover, the latest research suggests. Commentator iva, a firm which helps to organize individual voluntary arrangements, has released results from a survey which indicate that as many as one in four people aged between 18 and 24 are struggling under the weight of various debts. At the same time, as many as 1.2 million children currently still in the school system will find themselves in the same difficult debt cycle within the next five years.

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The concept of borrowing has become much more acceptable in recent years, one industry expert has declared. James Ketchell, a spokesperson from the Consumer Credit Counseling Service (CCCS), stated the idea of being in debt is ever more tolerable among Britons as a result of more people borrowing money during their time at university. He reported that it is “practically impossible” to graduate from higher education without being in some sort of debt. However, this in turn, he claimed, has allowed more people to consider taking out secured loans and other forms of borrowing in later life.

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In the run-up to Christmas, cash registers across the country will be ringing as millions of consumers head to the streets and on to the internet to find the perfect Christmas presents for their friends and family. With the added cost that Christmas brings, many people choose to put their spending on a credit card, but recent research has suggested this is not the best way to ensure you have the funds to cover the perfect Christmas.

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