You are here: Home - Household Bills - News -

Brits feel the pinch

Written by:

The majority of British households feel financially overstretched, according to Icelandic savings provider Kaupthing Edge.

The bank’s research found that, due to increases in utility bills, food costs and travel costs, 45 million people in the UK (95%) are feeling the pinch. More than three quarters of the British public (77%) said their utility bills rose over the last six months, while two thirds (68%) recorded an increase in their food bills. Almost half of Brits (49%) said their travel costs have risen over the last six months. Furthermore, a third (31%) said they received a smaller pay rise or bonus than usual this year.

Ashley Whittaker, spokesperson for Kaupthing Edge, said: “With inflation now at 2.2%, more and more of Britain’s hard earned cash will go towards essentials such as utility bills and the weekly shop. While last week’s Base Rate cut may bring some welcome relief to Britain’s mortgage holders, our research clearly shows that the vast majority of Britons are still feeling the pinch.” 


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Asia may escape market slowdown

Growth in the Asian markets is unlikely to slow this year, according to Alan Gibbs, manager of the Waverton Asia...