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More Families Forced to Dip into Their Savings
06/07/2011
New figures suggest that many consumers are having to rely on using their savings each month to maintain their current standards of living. Only 6% of households saw an increase in their personal finances this month, opposed to 36% of households reporting a deterioration, according to the Household Finance Index carried out by Markit.
Cost of living currently stands at 4.5 per cent, more than twice the Government's target figure of 2 per cent, following a surge in petrol costs and energy bills.
Homeowners aged over 55 years who are worried about the rising cost of living and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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