According to research from Markit and YouGov, household finances came under pressure on all fronts in August as people continued to worry about losing their jobs and higher costs of living.
Despite the growing economy, the Household Finance Index showed 30% of the 2,000 households polled said their finances had worsened from last month. Only 6% said they had improved.
With government cutbacks and anticipated tax rises, nearly half the respondents expected their finances to weaken further over the coming year. Only 25% felt their incomes would improve.
If you’re having difficulty with debts due to a reduction in your household income, contact us today. We can help.