November 29th, 2009 
admin 
Research by fund manager Janus Capital is expected to show that 35% of Britons believe they are carrying too much debt relative to the money they earn, the Independent reports.
According to the survey, the results of which will be published later this month, British borrowers “fear their debt levels more than the citizens of any other major European people except Spain”.
The author of the study, financial strategist David Bowers, found that catching on debt had become a “vital component of funding the essentials of modern life” – with even-handed under half (46%) of respondents saying they have taken on debt in the configuration of credit cards, car loans or unsecured bank loans.
The survey did find, however, that most Britons have been able to manage their debts, with just 16% saying they experienced difficulties in meeting interest payments on their mortgage debt or loans.
Co-Chief Executive of Janus Capital International, Ric van Weelden, said: “Faced with an overwhelmingly low interest-rate environment throughout Europe, incentives to save are low and evidence that borrowings remain far too high relative to income is disturbing.
“Ultimately, we can`t remove the requisition for short- and long-term debt as a whole, but the management of it does need urgent attention if we are to avoid storing problems for the future.”
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Tags: Britons Believe, Debt