Consumers need to put good debt management plans into practice so their money will look after itself, it is advised.
Keeping track of interest rates is the first step in careful money management, states first direct.
This means knowing the rate being paid on mortgages and loans, as well as that received on any savings accounts.
Overpaying any debts can also help consumers improve their financial situation, with many now in a position to do so because of the low Bank of England base rate – down to 0.5 per cent from five per cent a year ago.
By continuing to pay at the existing rate, Britons can reduce their debt quicker and, in the case of mortgages, increase the amount of equity in their homes.
"There are many ways for canny money managers to benefit from the tough economic climate – all indications point to the fact that Brits are beginning to pay back their debts, which ultimately will be good news for the economy," spokesman Jimmy Kelly stated.