December 1, 2022 (Investorideas.com Newswire) The cost of living in the UK is rising faster than wages, meaning many households are finding it harder and harder to make ends meet. To help cope with their financial struggles, 41% of Brits have said they’ve had to dip into their savings to pay for everyday costs, such as rent/mortgage payments and utility bills. This is according to an analysis by MoneyTransfers.com.
Talking about the report, Jonathan Merry, CEO of MoneyTransfers, said: “It is important for Brits to seek out advice on how best to manage their finances, and make use of any options that may help them cope with rising costs and stagnant wages. This could include budgeting more effectively or switching energy retailers in order to get a better deal. Getting the right advice and taking the correct steps can make a huge difference if you’re struggling to manage your finances. Being proactive with your money is key, as it will help you stay on top of costs and ensure that any savings set aside won’t need to be used before they should be.”. The full story and statistics can be found here: 41% Of Brits Have Dipped Into Their Savings to Help Make Ends Meet
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