UK`s financial resolutions revealed

The financial priorities of people in the UK as 2008 approaches have been unveiled in a new report by Nationwide.

According to a survey by the bank, saving is the main resolution being made by cash-strapped Brits. A quarter (25 per cent) said they want to put more money aside in 2008, while nearly as many (23 per cent) aim to begin saving.

It would also appear that people intend to become more debt-savvy in the new year. The fourth most popular resolution was getting rid of credit cards (six per cent), while five per cent want to get better deals on their communications and entertainment packages.

Another three per cent hope to be better organised with their paperwork.

"New Year`s resolutions can fall by the wayside as the year goes on, but by making one resolution and sticking to it you can really make a difference to your finances," said Stuart Bernau, Nationwide executive director.

In other debt management news, the Council of Mortgage Lenders warned that those with poor credit ratings may find it hard to get credit next year.