Brits 'using savings to make ends meet'

Money News

www.moneynews.co.uk > Debt > Brits 'using savings to make ends meet'

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Brits 'using savings to make ends meet'

Many people across the UK are having to dip into their savings in the present financial climate in order to make ends meet, it has been claimed.

Keith Churchouse, director of Chapters Financial Limited, said it is unlikely that the economic climate will improve considerably during 2012 and therefore it is worrying that so many are already seeing their finances stretched to the limit.

He noted: "Unfortunately, with inflation being quite aggressive over the last year or so, and with pay rises being pretty much frozen, many people are finding that they have to dip into their savings."

Mr Churchouse added that as a result, people should be seriously considering increasing their savings whenever they can in order to get through the harder times.

His comments follow those of Robin Ellison, head of strategic development for pensions at Pinsent Masons, who argued young people need to start putting money aside for their future comfort whenever they are able to.

Click here for more debt newsADNFCR-323-ID-801269708-ADNFCR

Related News : Debt

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet