Are you in danger of being hit by the big squeeze?
The financial press has picked up on one of our earlier stories regarding the "big squeeze" which has seen wage reductions in the UK as inflation rears its ugly head. There is no doubt that a reduction in spending power in real terms and an increase in the cost of living in the UK is going to push thousands upon thousands of people over the financial abyss. The so-called "big squeeze" is most certainly occurring and likely to cause major problems in the short to medium term.
This places the UK government and the Bank of England in a very difficult situation because both parties would like to see a recovery in the UK economy but whether this is at the expense of higher inflation remains to be seen. There are also many outside influences which are affecting the cost of living in the UK which are often out of the control of the UK government and the Bank of England.
The longer the economic difficulties being felt in the UK and around the world continue the more people will be pushed into the financial abyss and could take many years to regain their composure and their former financial strength. Those who underestimate the power of this ongoing squeeze do so at their own risk!
Share this..
Related stories
Will A Water Meter Save You Money?
As the cost of living in the UK continues to go through the roof more and more people are looking into water meters as a way of saving yet more money on their household expenses. But does it work?
To start with it is worth consider how much it actually costs for some of our everyday water needs like a bath, washing the car, the toilet, washing dishes and the washing machine to name...
Simple ways to save money : Clear expensive debts
There are many ways to save money on an ongoing basis but ultimately one of the main rules we need to consider is the reduction of expensive debt before low interest rate debt. The chances are that the average UK consumer will have a mortgage, loans, overdrafts and probably a credit card. If this is the situation you need to consider reducing your credit card debt before anything else because this...
Read MoreMobile phone roaming charges to be slashed
Even though the European Union has attracted significant criticism over the years, there is no doubt that the ongoing onslaught against mobile network providers across the world has been of great assistance to consumers. A recent EU ruling will see the cost of overseas phone calls fall by up to 60% over the next two years with stage one come into play on 1 July.
Just in time for the...
Water bills set to be reduced by 5% in 2020
12/12/2014 The average household water bill is set to fall by 5% in 2020, following a decision from industry regulator Ofwat. In real terms, this means household water bills will fall on average from £396 to £376 over the next five years. Ofwat worked with the 18 water companies throughout England and Wales, and set prices and profits for them for the five year period. The new charges will...
Read MoreUK beggars earning up to £200 a day
UK beggars in some of the more upmarket areas of the UK are known to be earning up to £200 a night which equates to a £73,000 a year salary, paid free of tax. UK police have drawn attention to so-called "professional beggars" who crowd the streets in many towns and cities in the UK, catching the attention of passers-by and ultimately making a very good living.
We have seen instanc...