Arab Today, arab today high costs compel britons to borrow money
Last Updated : GMT 09:00:45
Arab Today, arab today
Arab Today, arab today

High costs compel Britons to borrow money

Arab Today, arab today

Arab Today, arab today High costs compel Britons to borrow money

London - QNA

High cost of living has forced one in five Britons to borrow money to buy groceries, according to a survey. One in four said they have had to dip into their savings to buy food or other daily essentials, while 19% have gone into debt to do this. Another 10% said they could envisage borrowing money to buy food in the future. The survey by consumer group Which? found that only 43% of consumers feel they can afford to live on their income, while 36% admitted to finding things difficult – twice the proportion who were struggling in 2006. The survey showed that less than half of the respondents have an annual income estimated at less than ?21,000, 55% of them use credit cards each week to buy food. A third of these Britons confirmed that they have been forced to borrow money from friends or family in order to cover the cost of food. The Which? Consumers’ 2012 report found that more people are socialising at home instead of going to the pub, with 38% doing this as a result of the downturn. Which? referred to the financial crisis as the ’3D Squeeze’ because it has affected income, life events and spending habits. Executive Director of the group Richard Lloyd said, “Over half of UK consumers are not coping on their current incomes. Worryingly, one in five people told us they had gone into debt just to buy food and other essential goods. “We know consumers are worried about rising food and energy prices. Our research also highlights significant changes being made to other buying decisions.” The Which? survey comes after the Co-operative Bank revealed that half of all households have seen their debt rise this year and most people owe ?325 more than they did three months ago because of overspending at Christmas. Almost a third are not prepared to confront the issue and more worryingly most are not concerned until they have accumulated an average of ?1,247 of debt in overdrafts, credit cards or loans – despite this taking months or years for many to pay off. The poll also found that a quarter of Britons do not suffer from a difficult financial situation, compared with 36% suffering from considerable financial pressure. The survey results come at a time when official statistics revealed low numbers of Britons who are suffering from financial hardship to the lowest level in five years.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today high costs compel britons to borrow money Arab Today, arab today high costs compel britons to borrow money

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:01 2017 Sunday ,26 February

BRIC funds see inflows amid emerging equity boom

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday