Debt problems – Household Index
27/01/2011Lower income families and pensioners currently facing debt problems should be able to access financial advice services without stigma.
Moneymaxim.co.uk says this is one of the only ways in which struggling Britons having to tighten their budgets want to avoid the worst of consequences.
The post-Christmas Household Finance Index, published by Markit, dropped sharply to a 20-month low this month.
And there's been a sharp rise in the number of households expecting their finances to worsen over the next year, despite an increased level of skill when it comes to debt management in the home.
Managing director of moneymaxim.co.uk, Mark Bower, says there are considerable pressures in the system that are going to squeeze household finances throughout this year and into 2012.
He explains that while we're able to make significant savings for the average family, those already in significant debt may well need assistance from certain organisations.
The Index also reveals that willingness to make major purchases slumped to survey-record low, while available cash to spend fell at the fastest pace since May 2009. 
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