Families' budgets are squeezed by increased utility costs, soaring food prices and salary freezes.
Five million households currently face increases in their fuel bills of up to £100-a-year as SSE, the UK’s second biggest energy company after British Gas, said that from mid-October the price of an average annual dual fuel bill will rise from £1,172 to £1,274. Other companies are expected to follow suit.
As well as energy bills rising, mortgage payments are set to increase as other lenders follow Santander’s suit in upping its Standard Variable Rate (SVR).
Many individual salaries are being frozen and one in ten employees is being forced to
take a pay cut.
With the combination of increased utility costs, soaring food prices and a
compounding squeeze on salaries, Moneysupermarket.com has found that 80pc of
households are on a financial budget irrespective of income, demographic or family set up.
In order to ease the financial burden many Brits making extensive cut backs where
they can. Almost half of us have had to use credit in order to pay utility bills, while a 25pc of adults have said that they are forced to rely more on credit cards to ensure that the regular household outgoings are covered.
Clare Francis financial expert at Moneysupermarket.com comments: "The fact a rise in outgoings of £50 or less would tip a third of Brits to ‘financial breaking point’ speaks volumes about how difficult people are finding things at the moment."
Article published in the Telegraph follow the link to read the article - http://bit.ly/OXKL1M
Top 10 property safe havens abroad
The spectacular Caribbean island of St Lucia, renowned worldwide for its idyllic
beaches, relaxed lifestyle and crystal-clear waters, has recently been named by the Telegraph as an overseas property safe haven. With an impressive 350,000 sun-seekers visiting the 238sqm island annually and five star tourism ever-popular, its little wonder that this jewel of the Caribbean continues to be considered a solid investment hotspot.
Telegraph journalist Graham Norwood explains, "This Caribbean Island has long been popular with Britons. There are rugged mountains, rainforests and coral reefs."
Easily accessible from the United States, the UK and across Europe, St. Lucia enjoys a luxurious climate, friendly locals and a wonderful coastline which draws in increasing numbers of visitor’s year-on-year. When considering property investment on this beautiful island, the Telegraph recommends that you research the more popular locations on the island and select high end properties in this setting.
"The best tactic is still to purchase more expensive homes in prime locations. This
means you will see the best the country has to offer, and your investment stands
a better chance of securing good returns."
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Still available on the Marquis Estate St Lucia are 1 bed hillside villas discounted by £215,000 to £250,000 only 30% deposit required which can be funded by a pension - contact me for details - HERE
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