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Households' disposable income 'is quickly falling'
The amount of money households are left with at the end of the month after paying their expenses is reducing rapidly.
This is the opinion of Andrew Hagger, spokesman for Moneynet.co.uk, who commented that this is the result of increasing outgoings and frozen incomes.
He said: "A lot of people are not getting pay rises, so therefore, people have got less money available at the end of the month and it is a worry for them."
Mr Hagger advised households to make sure they have enough to cover their essentials, such as food bills, heating costs and mortgage repayments.
Should they have cash left over at the end of the month, he suggested putting this away in savings.
However, he noted that some "just would not have enough money left" to do this.
Indeed, last month researchers from the Institute for Fiscal Studies predicted that a decline in living standards will be felt until 2014, as earnings drop and costs increase.
Copyright
This is the opinion of Andrew Hagger, spokesman for Moneynet.co.uk, who commented that this is the result of increasing outgoings and frozen incomes.
He said: "A lot of people are not getting pay rises, so therefore, people have got less money available at the end of the month and it is a worry for them."
Mr Hagger advised households to make sure they have enough to cover their essentials, such as food bills, heating costs and mortgage repayments.
Should they have cash left over at the end of the month, he suggested putting this away in savings.
However, he noted that some "just would not have enough money left" to do this.
Indeed, last month researchers from the Institute for Fiscal Studies predicted that a decline in living standards will be felt until 2014, as earnings drop and costs increase.
Copyright
Published: 05/10/2011
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.