In a study carried out by MoneyExpert, it was revealed that 5.9 million consumers have switched credit card deals over the last six months of 2007 in an attempt to get their debts under control. Such a figure represents an increase of 394,000 compared to the first half of the year. From July to December, 13 per cent of cardholders made such a change, up by a single percentage point during the time between January and June.

Findings from the price comparison website revealed that young Britons have been struggling the most with their finances. Over the last six months about one out of six (17 per cent) consumers between the ages of 25 and 34 have moved credit card provider in an attempt to reduce spending pressures and take advantage of zero per cent balance transfer offers.

And in taking such steps to reduce monetary pressures on their plastic cards it might be possible that borrowers could be able to meet other sources of financial demand with greater ease. Such areas may include loans, household bills, council tax repayments and transport costs.

Commenting on the figures, Sean Gardner, chief executive of MoneyExpert, said: "The increase in credit card switching means that people are concentrating more on reducing debts and are less concerned about other product areas. And with bills increasing across the board it wouldn't be a surprise to see further rises in credit card switching in the next six months as consumers struggle to cope. Credit card companies still offer lengthy zero per cent deals - some as long as 15 months - which means that so-called 'rate tarts' will be here to stay."

Although he claimed that "almost certainly" everybody will be able to save money by switching deals, the MoneyExpert executive warned those who consistently shift debt around and do not take steps to actually make repayments. He claimed that such consumers are in danger of spending more money elsewhere and actually increasing their level of indebtedness. In addition, Mr Gardner advised people to take the time to ensure that they are getting the best deal possible on their borrowing.

Those looking to get to grips with their spending more effectively, however, might wish to consider applying for a cheap consolidation loan. Taking out a consolidation loan could allow borrowers to merge a range of financial pressures, which may include store and credit card debts, other loans and outstanding mortgage and utility bill payments, into one low-cost fixed repayment. And by opting for this type of cheap loan, borrowers may able to manage their money with greater ease as they will have fixed regular repayments to make. Furthermore they will not face a rise in interest costs once the zero per cent offer expires as may be the case with credit cards.

A debt consolidation loan could be of particular use to Britons from Yorkshire and Humberside after research by uSwitch indicated that the average person in the area is in debt to the tune of 7,484 pounds. Consumers living in the south-east and east were also revealed to be struggling with money. Overall, the price comparison firm indicated that one in three consumers do not have any money left in their bank account by the end of each month.