According to Lucy Pope, spokesperson for LV=, more consumers are aware of the need to keep their spending in check so as to help them to save money for the future. She also pointed out that people are taking note that "a lot of the messages out there" are about setting cash aside for later life, saving for retirement and paying off expensive debts - with a debt consolidation loan one possible way of reducing such financial demands.

The LV= representative said: "People are taking note because it is everywhere ... it's not something you can avoid. There is more awareness now. The government are doing quite a lot in terms of educating people and it is quite well documented in the media about pensions and young people [needing to] save."

In addition, she stated that the urban professionals of the 80s - who were branded as yuppies - have discovered that the "champagne lifestyle and the carefree image" they enjoyed some 20 years ago may now be impacting on their finances as they have grown older. Pointing out that such consumers have "come back down to earth with a bit of a bump", Ms Pope suggested that they are now conscious that saving for retirement and making repayments on areas such as mortgages and loans are among their main financial priorities.

She added that more Britons are now having to use "alternative sources", such as money from their own savings accounts and investments, in an attempt to begin saving for retirement. This was attributed to a fall in the availability of company pension schemes over recent years meaning that many workers may not be afforded the same level of financial comfort as they may had in the 80s. In addition, the LV= spokesperson stated that a "lot of people" are looking towards their property to help provide them with an income in later life, as they may well use the equity built up in their home as a form of secured loan.

To help get to grips with their finances and to free up more cash each month to put into pensions schemes, applying for a debt consolidation loan could well be a wise idea. Speaking earlier this month, James Falla, director of Thomas Charles, reported that an increasing number of Britons are recognising that supplementing spending via store and credit cards can be extremely expensive as they attract "very, very high" rates of interest. He claimed that a number of people are applying for a personal loan to use as a means of consolidating their debts and getting out of the red.

However, Mr Falla reported that it is "no good" for borrowers to take out a loan to help them manage their finances then to only continue to run up debts on their credit cards. The director also purported that those who take steps to rein in money management in the run-up to Christmas could find themselves in an advantageous financial position by the start of the new year.