Almost half of those asked
Households are having to spend even more just to cover their household bills, leaving less disposable Cap mould Manufacturers in China income for other costs.2% on fuel. There are a number of debt solutions that can provide much needed help to those facing unmanageable debt.It is incredibly important that consumers speak to a debt specialist to find a solution that is suitable to their personal circumstances as there are several options available. For some the situation is much worse; a quarter of single parents said that they would find it difficult to cope if bills were to go up much more. This new data highlights the serious problem of rising costs that is facing the nation. Lots of Brits avoid seeking help for their debt, with the threat of bankruptcy looming over them, but there are other paths to take.9% on utilities, 3.. All of the 'Big 6' energy providers in the UK hiked prices in 2012, so it's no surprise that this winter is causing all sorts of financial woe. Before entering any type of debt plan, individuals need to assess their finances to establish just how much they can afford to repay each month. ? British households are spending nearly a quarter (23%) of their monthly income on the household bills, excluding rent or mortgages.For example, those in Scotland can take advantage of a trust deed, which helps individuals achieve an affordable monthly debt repayment, freezes any additional interest or charges and can even write off a portion of the debt. New research by Santander has found that 9. The head of banking at Santander, Hetal Parmar, said that the rising cost of living is putting a significant strain on household incomes, but that individuals have become more aware of how to save money.6% on council and 3. As a result of this squeeze on income, individuals have been trying to find ways to cut the cost of their bills, particularly energy bills.7% goes on food, 6. Becoming more savvy when it comes to finances can only be a benefit, but the rising bills are having a serious impact on the quality of life.It is not known how much further household bills are expected to rise and whether we will get a break anytime soon, but it's clear that Brits are feeling the pinch.If people are having financial difficulties, they need to start regaining control as soon as possible, before the situation worsens.If households can cut the cost of their debts, they will have more disposable income to put towards other essentials and keep on top of rising household bills. Almost half of those asked said that they were much more financially aware now as they have had to get to grips with their money over the past year. Although it is sensible to make savings where possible, there is a major concern that many Brits will be struggling through the winter without heating their home, potentially leading to health problems.
