A uSwitch.com report reveals that more than one-in-four British consumers need to borrow money to make ends meet. The research indicates the growing need to borrow money is largely due to income remaining static while bill payment costs and inflation continue to rise. People are having trouble coming up with the finances to pay for household bills.
USwitch reported, “With salaries remaining static while household costs soar, many are being forced into the red. Our research shows that more than one in four consumers (27%) are borrowing money just to pay their monthly bills. With this in mind, it’s vital that people look for the best ways to save money and balance the books. The first step is to look at your household budget to see where you can cut costs. Making sure you are on the best possible deal for your home essentials will help you to ease the financial pain and to beat price rises.”