Personal Finance News
What our customers say..."Keep doing what you do best moneynet!!"
Utility bills 'causing cost of living to increase'
People may find the cost of living is being pushed up by rises in utility bills, with an industry expert stating it "goes without saying" that life is getting harder right now.
Phil Perry, director at independent financial advisory firm Ark Financial Planning, noted that the only bill that has not seen a rise in 2011 is council tax, which appears to have "stayed exactly the same as it was last year".
Mr Perry continued, saying it would be particularly unusual for anyone to see a salary rise of 4.4 per cent, given inflation is now standing at 4.4 per cent.
"I don't think salaries are keeping in line with inflation," he remarked, adding that only public sector workers appear to be in a better position than the majority, but even they are experiencing pension problems at the moment.
According to Justin Modray of candidmoney.com, if fuel and food prices stay high in 2011, many households will struggle, since a lot of income is spent in such areas.
Copyright
Phil Perry, director at independent financial advisory firm Ark Financial Planning, noted that the only bill that has not seen a rise in 2011 is council tax, which appears to have "stayed exactly the same as it was last year".
Mr Perry continued, saying it would be particularly unusual for anyone to see a salary rise of 4.4 per cent, given inflation is now standing at 4.4 per cent.
"I don't think salaries are keeping in line with inflation," he remarked, adding that only public sector workers appear to be in a better position than the majority, but even they are experiencing pension problems at the moment.
According to Justin Modray of candidmoney.com, if fuel and food prices stay high in 2011, many households will struggle, since a lot of income is spent in such areas.
Copyright
Published: 30/08/2011
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.