UK household finances still stretched

According to a recent BBC article, UK households are still struggling financially.

The annual poll of almost 2,000 homes for the Bank of England found that more than half struggled to meet repayments for credit card or other unsecured debts.

About 22% of respondents said they were put off spending because of concern that it was becoming harder to borrow.  However, fewer than half had taken any steps in anticipation of budget cuts, such as increasing savings, working longer hours or looking for a new job.

Read the full article here.

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