While the recession is ‘technically’ over, new research by poverty charity Elizabeth Finn Care suggests that almost three quarters of the UK are still being kept awake at night by concerns about their finances.
The charity’s research, highlighted by The Independent last weekend, also found that 40 per cent of people think they will be financially worse off in six months’ time, and half of the over-55s questioned believe they will have less money by the end of the year.
Quite a gloomy outlook considering we are coming out of a recession.
While I am not surprised by the findings published by Elizabeth Finn Care, I am concerned that with the coalition Government’s plans to reduce expenditure, it seems that the most vulnerable in society will continue to face increasing debt problems, particularly if the social security budget is slashed as seems likely to happen.
Hundreds of people in debt turn to us for advice every year, and our Social Welfare (insert link) team advises many of them in how to manage their finances in a much better way to help them get out of the daily debt nightmare.
Our own website, www.debtandrepossession.co.uk can help people in debt, as can the Elizabeth Finn Care’s website, www.turn2us.org.uk, which allows people to check their benefit entitlement and search for grants online.
By consumer solicitor, Andrew Leakey