Amazingly Half Of The Families In The UK Now Have Money Troubles…
A recent survey backed by the Money Advice Service (MAS) has found that 0ver 52% of the families in the UK have Money Troubles and are now struggling to make ends meet.
That is an increase of 9 million people since 2008.
So What Are Families Doing to Address Their Money Troubles
Well sadly, more people are turning yo Pay Day Loans which although may seem like a quick fix generally result in families pushing themselves further into debt as they struggle to repay what they borrowed…. It’s good advice to stay well clear of these types of lenders.
Some people are taking on additional part time work to try and earn an additional income, other are reported to be reducing their food expenditure and general well being purchases. This is having a huge effect on family life and causing further misery for the most venerable including children and the elderly. Most families surveyed confirmed that they are having to reduce the amount of energy they use to keep warm and to provide hot water.
Whilst these measures may seem sensible to some it is not what our society should be forced to do. Money troubles lead to more health and social problems that in turn costs the economy billions each year. Charities have seen a huge increase in families seeking help whilst at the same time a decrease in charitable donations to enable them to provide more help to those who so desperately need it.
A Treasury spokesman recently said:
“We recognize that times are still tough for families, but Britain is holding its nerve, we are sticking to our plan, and the British economy is on the mend.
“The Government has taken continued action to help households with the cost of living, including cutting tax for 25 million people by raising the personal allowance and freezing fuel duty.”
It’s all to easy to state the obvious…. “spend less than you earn” because we all experience unexpected bills and unforeseen problems that add to our money troubles.
Loan Sharks are not the answer…. neither is hiding from the money problems we may be experiencing…
Ways to Overcome Money Troubles
First and foremost don’t keep your worries to yourself. Do not be embarrassed by what you may be experiencing…. There is nothing to be ashamed of..
Talk to a friend or family member about your money troubles because you may be amazed at what solutions someone else might come up with. Talk to your local Citizen’s Advice Bureau or Benefits Agency to see what additional help may be available.
Yes .. think about what cuts you can make on your weekly shop but do not put yourself into a position whereby you cannot afford to eat or keep warm. If you feel that you are struggling to cope with your children make sure you share your concerns with a friend or family member.. Remember you’re not alone… People will always want to help ..
You may want to think about finding an extra job or working from home if you can’t afford a baby sitter …
Having money troubles is a scary experience and can put a lot of pressure on you but sharing your money problems with someone else is definitely the best thing you can do. It will help you focus more on how to overcome the financial constraints you may be experiencing and motivate you more towards overcoming them rather than becoming depressed or at the end of your tether.
The more people who know about your money troubles to more ‘heads’ they are to find a solution…
We hope you find this ‘post’ helpful and reassuring… If so please share it with someone who could benefit from it… Remember ‘there is always some one out there who is willing to help!
Roy and Julie ….