Some people in the UK have the right attitude towards the credit crunch and are dealing with it in the correct way, according to the Consumer Credit Counselling Service (CCCS).
Although there is a chance that more Brits will apply for loans to get themselves through any financial difficulties, a warning has been issued saying this is a risky idea.
Instead, those who are being thrifty and cutting back on luxuries and previous excesses have the right approach.
Tom Howard, spokesperson for the CCCS, said: "It is always advisable to live within your means whenever possible, even if this means tightening the belt."
He also stressed that people should not rely on loans as there is no guarantee lenders will offer them.
Bank of England Credit Conditions Survey for the third quarter of 2008, many lenders said they thought there would be reductions in the amount of credit available over the next three months.
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