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With VAT Rise Imminent UK Consumers Have Growing Concerns

A new survey has found people are worried about money, not having babies and stopping going on holiday due to financial concerns.

• In just 12 months, people in the UK have more concerns now than they during the recession
• Until their finances become stronger, people are not going on holiday, getting married or having kids
• People are worse off per month: 66% are £250, 15% are £500 and 10% are £500+
• Christmas costs worries 57% people, energy bills worries 48%, and paying rent or mortgage worries 40%
• Job security is a concern for 45%, for either partner

9 November 2010 – Compared to 2009, 88% have more money worries in the UK. British consumers have less money in their pockets than they did; with one in ten having more than £500 less, 15% have up to £500 less, and 68% have £250 less each month.

It was found by the new survey which asked 1,000 people what they thought of certain commitments and payments over the year. It was found that 57% of people will struggle to find the cash for Christmas this year; 48% will find paying their energy bill difficult; 46% are worried about buying food; 40% have concerns over paying their mortgage or rent each month; and 27% of parents will struggle to pay for activities or school for their children.

Finances are having major effects on life-changing opportunities, such as 20% of people are staying in their jobs instead of moving on; 27% of people aren’t purchasing a new house; 14% are putting off having a child; and 13% have adjourned getting married, until their money worries are over.

Via EPR Network
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