Debt management could improve ailing household finances

24/02/2010

Debt help may be needed as the rising cost of living has begun to take its strain on the stagnant incomes of many Britons.

Conducted by Markit and YouGov, the Household Finance Index for February has revealed that many people are still under financial pressure and struggling to pay off bills and cope with daily costs as a high inflation level stretches their income.

Almost 25 per cent of respondents said that their finances had "deteriorated" while just six per cent reported an improvement.

Tim Moore, an economist at Markit, commented: "February's survey highlights that UK household finances are still deteriorating, despite the recession officially ending earlier this year.

The survey also revealed that many people have lost faith in the government with 36 per cent stating that they did not know which political party would be able to improve their financial situation.

Posted by Jim Mead

Tags; Housing Debt and Bills,

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