More than a quarter of Britons feel their finances are out of control as the credit crunch takes hold.

New research released today by GE Money shows that 27 percent sometimes or always feel their outgoings are out of control. More worryingly, an additional 8 percent say they regularly spend more than they earn.

The survey, conducted by YouGov, also revealed that the effects of the global credit crunch are beginning to impact most facets of UK life. Over a third of Brits say their spending habits have changed in the last six to 12 months with the majority of those admitting that they are making a conscious effort to spend less.

Despite these efforts, nearly 40 percent of people say they still have no money left at the end of each pay cycle.

GE Money says "As we approach summer we are urging people to take an active interest in sorting out their finances. With the cost of living increasing this is no time to relax, it is important that people take stock and ensure they know exactly what they owe and when."

Chris Tapp, director of Credit Action, says "Struggling financially can feel like being the passenger in a speeding car with things moving very quickly and seemingly totally out of control.”

CreditAction is a debt charity that tries to help those in financial difficulties. Its monthly debt watch has found that the UK is in debt to the tune of over 1.4 trillion pounds.

Tapp adds “Even when people want to sort their financial situation out, they may not know where to go for information and advice. The web is now the second most popular place for people to turn, after friends and family, so it is important people are aware of the good sources of help that are available."

Lloyds TSB Mortgages has found that as the financial belts are tightened across the UK, homeowners are taking a do it yourself approach to moving home to help keeps costs down.

Over half of those surveyed by the bank admit they plan to undertake the removal process themselves to help save cash in the current climate. A further one in 10 homeowners plans to adopt the role of estate agent and sell their property privately to avoid estate agent fees.

The average homeowner spends 7,434 pounds on their home move, with one in five spending over 15,000.

Alison Burns, director of network mortgage sales at Lloyds TSB, says "In the current economic environment it is not surprising that consumers are taking a more cost conscious approach to moving home.

“Shopping around for good deals and opportunities to earn rewards on your spend is always a good idea but there are some areas where you should not cut corners, such as legal fees and a thorough survey, as this could end up costing you more in the long run."

Chris Cummings, director general of AMI, says brokers are the key to getting through the credit crunch.

He says "During this difficult period consumers need advice more than ever. That is why we will now begin a concerted campaign to demonstrate to consumers the value of mortgage advice.”

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