Payplan Horoscope Research

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Payplan, one of the UK’s leading providers of FREE debt advice and management, today welcomes the launch of the DTI’s Consumer Credit White paper.

If you would like to discuss this further, John Fairhurst, managing director of Payplan is available on 01476 539200.

John Fairhurst, MD of Payplan, said, “We welcome the White Paper as a significant step towards a fairer and more simple credit environment for consumers.

“We particularly welcome the proposed telephone gateway for debt advice. Indeed we are active participants of the development of this strategy, which will provide debtors with a much clearer route to free high quality debt advice.

“Over 50% of Payplan clients have previously tried to resolve their debt problems through unsuccessful debt consolidation. We are concerned that lack of awareness of free debt help services is driving consumers further into debt. Our average client now owes unsecured creditors £26,000, up from £21,500 just two years ago.

“In addition to the debt consolidation route many of Payplans clients had also used the services of fee charging agencies. Whilst generally a positive step towards resolving a debt problem the fees charged can significantly extend the period of over indebtedness. Payplan believe consumers should be equipped to make an informed choice. Many are simply unaware that accessible free alternatives are on offer.”

Payplan works very closely with organisations mentioned in the White Paper, such as National Debtline and Citizen’s Advice Bureaux, by providing free debt management plans for people coming to them with debt problems. Payplan is a commercial organisation which is paid by creditors and therefore does not charge debtors a fee.

Payplan’s freephone number for consumers is 0800 917 7823 or they can visit www.payplan.com for a free assessment of their financial situation.

Payplan performed intensive research on over 4600 customer files to obtain the following data

Sign % Sex Average Debt
(M & F) 		Average No of Accounts*
Male
%		 Female
%
Aries 9.32 44 56 £22,203 7
Capricorn 9.28 44 56 £20,795 6.9
Cancer 9.03 47 53 £23,130 6.9
Leo 8.98 46 54 £22,132 7
Taurus 8.73 47 53 £22,659 7.1
Gemini 8.71 45 55 £23,044 7
Libra 7.92 45 55 £22,268 7.1
Pisces 7.92 38 62 £22,555 6.8
Aquarius 7.83 46 54 £22,757 7.1
Virgo 7.75 43 57 £22,497 7
Scorpio 7.45 50 50 £24,966 7.2
Sagittarius 7.09 47 53 £22,137 6.8

* = Average number of accounts refers to the number of different creditors (credit cards, store cards, personal loans etc) the debtor owes money too.

Average Figures:

  • Average percentage of males vs. females in debt - 45%
  • Average Number of females vs. males in debt - 54 %
  • Total Average Debt - £22,595
  • Average Number of Accounts Held - 6.9

Generally

Unfortunately, while it may seem like a cliché, woman are more likely to become seriously in debt than men - Piscean ladies are 24% more likely to become in debt than their male counter parts and this general trend holds true for the rest of the signs. The only exception to this rule is Scorpio where both sexes have an equal chance of debt problems.

Prickly Scorpions also hold the most accounts on average with 7.2 accounts while at the other end of the scale Sagittarians and Pisceans only hold 6.8 accounts.

The average amount of debt across all-star signs is £22,595 with Scorpio’s (£24,966) the most in debt followed by Cancerians (£23,130) and Gemini’s (£23,044).

Star Signs and their Personal Financial Characteristics

Does your star sign affect the likelihood of you getting into debt? Check out your personal financial characteristics below…

1. Aries

Aries is a fire sign with a warm generous sociable enthusiastic nature but with a tendency to procrastinate. This said they can also be extremely impulsive when they do act.

These can be fatal flaws when applied to personal finances. Aries’ generous sociable nature leads them to spend more than some other more reserved star signs and their tendency to procrastinate leads to unpaid or ignored bills. Their impatience can also cause them to over extend themselves, as they don’t have the patience to save for their dreams and would rather buy something on hire-purchase than wait.

These traits combined have made Aries the most likely star sign to be in debt.

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2. Capricorn

Capricorns are cautious and introverted but very faithful. These goats are extremely rigid and pessimistic but have the twin virtues of ambition and a hard working nature.

Unfortunately while these virtues work well in other areas of this earth sign’s life, personal finances are a big problem. Capricorns have difficulty dealing with more complex financial issues and often continue using old inefficient products, which they feel safe with. Their ambition and workaholic natures mean that their personal finances and relationships are often neglected - the breakdown of either can often lead to the start of serious debt problems.

Their ambition however has a personal financial advantage as while they are one of the more likely signs to get into debt, they often have sufficient resources to avoid huge amounts of debt and get into the least amount of debt on average (£20,795).

Their introverted nature is also a hurdle as they tend to find it hard to confide money problems to others and therefore don’t seek help, getting themselves into further debt.

Finally, Capricorn’s pessimistic nature also works against them resolving any debt problems, as once they have a problem they find it hard to see a positive outcome and therefore give up before they have even started dealing with it.

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3. Cancer

Cancerians are naturally protective of family and friends with an urge to nurture those they love. They are also imaginative, faithful and loyal. Unfortunately this water sign’s personality is not all sunshine and light and they can be gullible, untidy, possessive, over-emotional and extremely conservative.

The crab is burdened by various traits, which make their personal finances potentially highly unstable. Their conservative nature ensures they stick to investments and products longer than they should, as they prefer the safe and easy to understand rather than the potentially more profitable new and different.

And while Cancerians may not necessarily overspend, their untidy personal finances can lead to missed or ignored bills, which in turn can lead to a poor credit rating and possible debt problems. Their gullible nature is also problematic, as the crab is receptive to most sales pitches no matter how unlikely.

One of their most admirable characteristics can also lead to problems, as while they are protecting and nurturing those they love, their generosity means they can often overextend themselves financially.

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4. Leo

Leo is a fire sign and their personality shows this in abundance. They are flamboyant, generous with tremendous charm and a happy demonstrative nature. Unfortunately, like a lion, they can also be proud, vain, touchy and intolerant.

As king of the jungle, a lion rarely need to seek help, unfortunately Leo’s tend to follow this trend too and can get themselves into serious difficulties before admitting they have a problem. Their pride and vanity tend to get in the way of them asking for financial help when they have got themselves into a pickle.

Their touchy nature can also cause problems, as those they care about are often too worried about offending them to discuss financial matters. The intolerant streak most Leos posses can mean that they find it hard to accept advice when it is given and prefer their own, however flawed, point of view.

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5. Taurus

Taurus is an earth sign fond of the finer things in life with a patient, grounded and reliable personality. They are however stubborn, inflexible and so cautious in their approach to matters that they can become tedious.

Although Taurians have the ability to manage their personal finances well several of their more prominent traits often conspire to trip them up. With their love of finer things in life they can tend to overspend on luxuries especially fine food, luxury travel and good wine. This love of luxuries also tends to mean they extend themselves further and are the star sign with the most average number of accounts 8.12.

They are also often unwilling to listen to words of warning from friends and family, as they tend to have a fixed and somewhat inflexible view of live. Their over cautious nature also causes problems for the bulls’ personal finances as they are often happier to sticking with a product they know rather than try a more adventurous and better product.

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6. Gemini

Gemini’s are the communicators of the horoscope and rarely stop talking, in fact they can argue their way in or out of most situations. These lively personalities hate to be tied down and can be rather fickle and cruel if bored. Other less admirable traits the twins possess, include the tendency to be inconsistent and superficial.

Gemini’s slightly flighty nature can lead to personal finance problems as they find buckling down to a sensible financial plan against their nature. They find this type of planning boring as well as restricting which is difficult to handle for this free flowing air sign.

Their inconsistency also causes financial problems as they have trouble making a final decision on what type of product they need and tend to get bored and abandon the project altogether.

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7. Libra

Libra is the sign of the diplomat and the ditherer. They are charming, easygoing and pleasant but also very indecisive. When decisions need to be made they swing wildly from one side of an argument to another before insisting on getting their own way (whatever that is).

Personal Financial decisions, while they need to be decided upon in a logical manner, also need to decided up in a timely fashion. Libra’s dithering can cause the loss of financial opportunities and the aggravation of those close to them. Their problem is that they see all sides of an argument and it’s difficult to make the right choice when it all looks so appealing.

Their tendency to insist on getting their own way can also cause problems as once they have made a financial decision, they are sticking to it come hell or high water. It also makes giving them financial advice a very frustrating experience.

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8. Pisces

Pisces is the most emotional of all the signs. This fish is idealistic, romantic and a bit of a dreamer. They may have problems defining the boundaries between fact and fiction but have been blessed with a keen sense of intuition.

Although the fish isn’t the most grounded of all the signs they are the third least likely to get into debt.

Their natural intuition helps to avoid financial pitfalls, which can trap more gullible signs like Cancer. Although their dreams are not always attainable, these fish use them as motivation. If they aim for a financial star, they are going to get there! They are also able to ask for assistance with any financial difficulties they have before it becomes a problem.

Piscean women are 24% more likely to get into debt than their male counter parts. This figure illustrates that while emotions can help when dealing with personal finances, Piscean woman are hampered by the addition of the emotions of their sex.

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9. Aquarius

Aquarians are the thinkers of the horoscope and as such are extremely independent with a lively, inventive and idealistic nature. This air sign can however be very unpredictable and swing from extremes - chaotic or calm, stubborn or flexible, rebellious or helpful - depending on how they feel. They also tend to take little notice of the world around them and be happiest following their own star.

Aquarians tend to have a good grip on their finances as they spend considerable time considering their best financial options before they act. Their unpredictability is unfortunately their downfall as if they are in a mood to be contrary, no matter what the financial advice is they will disagree.

The internal focus of their contemplations can also be detrimental, as they will often miss opportunities other star signs are quick to pick up on. Their eccentric nature also affects the water bearer’s finances but the nature of the effect differs from person to person.

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10. Virgo

Virgo’s tend to be shy and introverted but can blossom when in love. They are the critics of the horoscope and are methodical with a tight grip on their environment and very high standards. As the critic, they have a need to organise things and can be obsessed with the whole idea of order.

As the old saying goes, you can’t see the wood for the trees. This applies to a Virgo’s personal finances, as they can be so busy being organised that they don’t get round to buying the mortgage or making the investment. The vice like grip they hold their life in can also cause problems as they find it hard to give control of their personal finance to an expert. Their self conscious nature also precludes this as by visiting an expert they can lay themselves open to criticism, which is highly unpleasant for earthy Virgo.

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11. Scorpio

Scorpio is often seen as the most mysterious star sign - the unpredictable scorpion. They are intense personalities with hidden depths who are able to understand the emotions that other signs may have trouble dealing with. These determined people are however moody and can be over emotional.

Scorpio’s bring many of their positive traits to bear on their Personal Finances.

The Scorpions intensity helps to focus their thoughts and ensure that if a problem arises it is dealt with in a productive and timely fashion. Unfortunately their intensity can also work against them as if Scorpios get into debt they get into the largest average amount of debt for across all the star signs (£27,839). They also hold on average the most amount of accounts with 7.2 accounts held.

Their determined nature helps them to stick to any financial plans they might make, no matter how difficult or painful. As their emotions tend to be internalised, they don’t affect their finances in the same way as they affect the watery Cancerians. A deep understanding of human emotions also holds personal financial benefits, as they are more open to help or advice from well meaning friends.

They are however unusual in that both male and female Scorpios have the same likelihood of becoming seriously in debt. All in all, while these spiky personalities are among the least likely of us all to get into debt when they do, they do it with all their inborn intensity.

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12. Sagittarius

Sagittarius is the sign of the gypsy. These fiery wanderers like life to be footloose and fancy free with easy access to a large circle of friends. They are however happy in a steady settled relationship provided it’s stimulating. As a traveler they can also be careless, tactless and restless with an alarming streak of irresponsibility.

Although many of these traits can lead to financial problems, the wanderer is so busy avoiding ties that they are able to avoid most financial pit falls as well. When choosing financial products, they tend to go for the flexible easy to understand option as they are attuned to their somewhat feckless nature.

Some Sagittarians can however get themselves into financial problems if they allow their irresponsible nature to take over and spend, spend, spend…

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DTI’s Consumer Credit White paper

Filed Under  UK Debt News  |  Leave a Comment

Payplan, one of the UK’s leading providers of FREE debt advice and debt management, today welcomes the launch of the DTI’s Consumer Credit White paper.

If you would like to discuss this further, John Fairhurst, managing director of Payplan is available on 01476 539200.

John Fairhurst, MD of Payplan, said, “We welcome the White Paper as a significant step towards a fairer and more simple credit environment for consumers.

“We particularly welcome the proposed telephone gateway for debt advice. Indeed we are active participants of the development of this strategy, which will provide debtors with a much clearer route to free high quality debt advice.

“Over 50% of Payplan clients have previously tried to resolve their debt problems through unsuccessful debt consolidation. We are concerned that lack of awareness of free debt help services is driving consumers further into debt. Our average client now owes unsecured creditors £26,000, up from £21,500 just two years ago.

“In addition to the debt consolidation route many of Payplans clients had also used the services of fee charging agencies. Whilst generally a positive step towards resolving a debt problem the fees charged can significantly extend the period of over indebtedness. Payplan believe consumers should be equipped to make an informed choice. Many are simply unaware that accessible free alternatives are on offer.”

Payplan works very closely with organisations mentioned in the White Paper, such as National Debtline and Citizen’s Advice Bureaux, by providing free debt management plans for people coming to them with debt problems. Payplan is a commercial organisation, which is funded by creditors and therefore does not need to charge debtors a fee.

Payplan’s freephone number for consumers is 0800 917 7823 or complete and submit the Debt Calculatorform for a free assessment.

Payplan
John Fairhurst, Managing Director
01476 539200
john.fairhurst@payplan.com