PPI claims could help fill the savings void many people struggling with repayments in the UK are facing.Research from Standard Life highlighted that the UK is spending more on credit card payments than it is managing to save each month.If current trends continue the savings and investment company believes savers will set aside an average of £67,200 over the next 40 years but other people will spend more than double that on credit card repayments – a total of £152,000."It's always a challenge to set priorities and if money isn't managed well, then debts can easily mount up," said Standard Life's John Lawson.The survey demonstrated that 51 per cent of UK adults make monthly credit card payments, but only 44 per cent of people make payments into savings and Isas.This comes after a poll from MoneySupermarket.com showed people are spending more than 40 per cent of their income on repayments.Amir HussainAmir specialises in personal loans, consumer debt and debt management.
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