by Daniel Jones
Many Britons are living with significant financial worries looming, according to the latest research on the matter.
New figures from Gocompare.com show that 36 per cent of people around the UK are worried about the rising cost of living and the bills they must pay, with 47 per cent admitting that they intend to spend less on their food shopping in a bid to make their money go a little further in 2014.
What’s more, some people are worried about altogether more serious matters, such as losing their job (five per cent) and not being able to pay their mortgage or rent (three per cent).
Claire Peate, customer insight manager at the website, said: “While there are signs of a growing confidence in these figures in terms of relatively few worries about job security or rising interest rates, it is clear that the squeeze on budgets is still being felt.”
Perhaps the most worrying aspect of the study was the finding that some 28 per cent of people in the UK don’t feel as though they can make any extra savings, meaning that they are already stretched to the limit.
Such issues might be of concern to landlords, who need to know exactly how much rent they can charge for their properties without forcing tenants into a position where they can no longer afford to pay.
No landlord wants to put tenants off with high rental charges that result in a property standing empty, so it’s wise to remain aware of the position many people find themselves in.
Of course, it’s not only mortgage and rent payments worrying Britons, as other matters that were found to be of concern included not being able to save money, failing to put cash away in a pension for retirement and building up debts on credit cards.
This is before petrol prices, car insurance premiums and loan interest repayments were taken into consideration.
Published on: January 6, 2014