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People will continue to use credit cards despite a more cautious approach to spending, a claim suggests, which could mean a debt consolidation loan is still required by many Brits.

Using a credit card remains a wise choice for people who do a lot of shopping online because if something goes wrong, a credit card can provide protection, according to Equifax.

But the recession means that shoppers may only use credit cards for certain things to avoid racking up debt.

Neil Munroe, external affairs director at Equifax, suggests people are saying: "I may use it for certain things but I am not going to use it as broadly as I used to and I will focus on keeping my debt position manageable in case things happen in the future."

Brits who have not kept their credit card balances manageable may find that a debt consolidation loan can group all plastic debt together into a more affordable monthly repayment.

The latest findings from APACs, the UK Payments Association, reveal that spending on credit cards did drop by three per cent in the first quarter of the year, which could reflect the more cautious approach to spending.

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Women may be getting to grips with their debt consolidation better than men after new statistics show they save more.

The findings from Halifax reveal that females save 17 per cent more than males in proportion to their earnings.

Females stash away around almost 40 per cent of their average annual gross earnings, compared to men, who manage to put aside 23 per cent.

Overall, the average levels of savings for people across the UK stands at £7,787, the survey states.

Indeed, women who like to shop could find they have more cash to save by merging their credit card balances with a debt consolidation loan, making monthly payments more manageable and potentially having some spare money after financial commitments are met.

"Savings play an important role when planning for your financial future so it is important to establish good savings habits as early as possible," states Nitesh Patel, economist at Halifax.

Abbey Credit Cards has also announced the release of its zero per cent credit card, which it claims offers fee-free foreign usage for those who splash out abroad.

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Switching credit cards could prove a wise move for responsible parents who are waiting for school to break up before whisking their kids off on holiday, one high street financial services provider says.

The unfavourable euro exchange rate means that forking out for spending money could be an expensive pastime for UK households, Abbey Credit Cards states.

While Brits may have numerous credit cards in need of a debt consolidation loan, a zero per cent interest credit card could be a useful tool on a summer break.

"Abbey's award-winning zero credit card helps to make holiday spending less expensive and is the only card on the high street to offer customers fee-free foreign usage on their spending abroad as well as no cash advance fee," claims Callum Gibson, head of credit cards at Abbey Credit Cards.

Indeed, merging current credit card balances with a debt consolidation loan could make monthly payments that little bit less stressful.

Spare cash could be put toward a summer getaway.

Previously announcing its zero per cent credit card, Abbey said it is the only card on the market which has no foreign exchange fee.

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The increasing number of redundancies means that more and more households are slipping into mortgage arrears, a claim suggests.

As such, middle-class Brits who may normally be free from debt concerns are seeking financial advice in the face on this economic situation, says head of Transact - the national forum for financial inclusion - Adam Clark.

He comments: "These individuals typically have higher levels of debt and more complex borrowings than typical free debt advice clients."

Such high levels of debt could be on credit cards and through personal loans, which may require a debt consolidation loan to make the monthly balances easier to manage for cash-concerned households.

Indeed, recent findings from the Consumer Credit Counselling Service (CCCS) reveal that 12 per cent of their clients have a net household income of more than £30,000.

Furthermore, 47 per cent of clients coming to them for debt help own their own houses, the CCCS asserts.

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Parents are getting their children's future on track by stashing cash away in Child Trust Funds.

According to the Children's Mutual, more than four million kids now have such a savings vehicle in place.

The average direct debit amount paid into a Child Trust Fund held with the Children's Mutual is £24, which if paid monthly from birth to the age of 18, could land youngsters with a lump sum of nearly £10,000.

But mums and dads currently considering cancelling their direct debits because of the recession may not need to.

Getting on top of other financial commitments with a debt consolidation loan could ensure that there is always a bit of spare cash every month to place into a fund.

David White, chief executive of the Children's Mutual, says: "By doing this [paying into a fund] parents are helping to give their children a firm financial footing as they enter their adult lives that could be worth up to £37,000 when they reach age 18."

However, families who increasingly stay in to eat rather than go to restaurants could find themselves having to make a significant claim on their home insurance policy because of cooking accidents and food spillages, AA Insurance says.

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