How Recession is Affecting UK Families

By | March 13, 2012

When the recession hit in 2008, it sent the nation spiralling into financial chaos.

With unemployment currently standing at 8.4% – the highest it’s been since 1995 – and inflation sky-rocketing everyday essentials, families are worried that the economy is driving them deeper into debt.

Prices at the pumps are at an all-time high and food inflation has risen to 6.3%. That’s three times the rate of the world’s seven biggest economies, bringing the average weekly household expenditure to £473.60.

As salaries stay the same and families work hard to meet everyday living costs, disposable incomes have dipped for the fifth year running. As a result, many people have sought help through Debt Management Plans, IVA and Debt Relief Orders so that they can manage their debts more effectively and stay in control of their finances.

Here you’ll find information on where your money is being spent and useful tips that could help you save money along the way.

recession

Related Post

Seattle Startup Recipe What does it take to create a thriving startup ecosystem? Sure, you need innovative people, money to fund projects, and ...
Drug Use on U.S. College Campuses While the average college experience isn’t quite Animal House, it has been referred to as a four year party.  What drugs...
Lady Gaga The Fame Monster Halloween Top Charts Lady Gaga is the fame monster as she does quiet outrageous acts for her music videos or any events. Though this infograp...
Just How Powerful Are Gaming Laptops Today? Comparison of memorable games and how they could be played with today's gaming pc hardware. Via:- dell
Everything You Need To Know About Facebook IPO Source: AccountingDegreeOnline.net
Mobile Security – Android vs. iOS This Infographic features Mobile Security - Android vs. iOS. Brought to you by Veracode.  
37 Years of Saturday Night Live Via: http://www.cabletv.com/snl-cast-timeline
Fast Food Motion Graphics: Andrej Preston http://www.andrejpreston.com White Castle was a first fast food chain formed in 1...
Facts You Need To Know Before You Die! There are things we hardly think about during our living period, and one of those things is death. Regarding that part, ...