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Nearly Half Believe Their financial Situation Will Get Worse Over the Next Six Months
15/03/2011
A recent study has shown that 43% of people in the UK believe that their financial situation is set to get worse over the next 6 months. This figure has risen by 30% since October 2010.
45% of individuals are concerned about the amount of debt they have accumulated, with credit cards being the main source for concern, followed by overdrafts and mortgage repayments.
Since this study was last conducted by R3, households have seen a rise in the cost of living that is greater than the rise in pay increases. Individuals have also seen an increase in unemployment through redundancies so it is not surprising that people are feeling pessimistic about their financial future.
'Homeowners aged over 55 years who are concerned about their financial situation and would like to know how much money the value of their property could release to help increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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