Many over-60s 'can just afford the basics'

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Many over-60s 'can just afford the basics'

Wed 25th Jan 2012

Ongoing problems are being faced by up to 4.5 million Britons in the over-60 age category as a result of the continuing economic difficulties, it has been revealed.

According to research carried out by Age UK, 55 per cent of people in this age group have claimed it is now harder for them to manage their money effectively from month to month than it was at this time last year.

Michelle Mitchell, charity director of Age UK, said: "Older people tend to show a great deal of resilience in managing their money and eke out their income but this new report demonstrates exactly how emotionally draining it is on for older people to constantly survive on a lower income."

The news follows comments by Annie Shaw, founder of CashQuestions.com, who claimed older Brits are spending a higher proportion of their monthly outgoings on things like domestic fuel, food and possibly rent.

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