Qualified advisers answering your
Financial Questions
call 0800 092 1245

Spending warning issued by

One in eight people are spending more than they earn, warned today.A new report from the financial website also showed that one in seven had no money left over at the end of the month, while seven in ten had less than 20 per cent of their income remaining, once all expenses were's figures come on the same day that the government announced a fall in GDP of 0.5 per cent for the last quarter.Analysts also expect an extra 200,000 people to lose their jobs by the end of the year, as the downturn deepens.David Kuo, head of personal finance at the website, advised: "We are only in the early stages of a recession so we have yet to feel the full impact of the economic downturn. Consequently, it is important to tackle our finances head on now before it is too late to do anything about it."Ensuring that we can survive on less than four-fifths of our current income is vital. If you lose your present job through redundancy, your next job could pay precisely that - less than four-fifths of what you now earn."

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details