You are here: Home - Household Bills - News -

Brits feel the pinch

0
Written by:
14/02/2008

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.” 

Related Posts

Tagged:

Tag Box

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.

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

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...

Money Tips of the Week

  • RT @TSB_News: Today we’ve launched market leading rates on the high street with our two-year fixed bond and two-year fixed rate cash ISA. R…
  • How much of your salary would you sacrifice for more free time? @YourMoneyUK https://t.co/mtHEIZkfnb https://t.co/lOMmfzIRgY
  • RT @YourMoneyUK: .@Barclays has become the first High Street Bank to allow customers to block certain types of spending on its accounts. h…

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...

Close