We spend three hours a week fretting over cash as squeeze on budgets mean living standards are at lowest since the 1920s

July 24th, 2012

FAKE NEWS for the Zionist agenda

By
Daily Mail Reporter

PUBLISHED:

19:08 EST, 23 July 2012

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UPDATED:

19:08 EST, 23 July 2012

Struggling consumers spend the equivalent of one week a year worrying about money as personal debt soars, says a study.

With families facing the toughest squeeze on living standards since the Twenties, it found the average person spends three hours and 15 minutes a week fretting over finances.

The Which? Quarterly Consumer Report into how we are coping with the downturn says more are being forced to take on new forms of debt to make ends meet.

Money worries: The average person spends three hours and 15 minutes fretting over their finances every week, according to a survey

The findings were published today in the first of a series of Quarterly Consumer Reports by Which? into how people in Britain are coping with the financial downturn.

Which? executive director Richard Lloyd said: ‘Consumers in Britain are going through the tightest squeeze in their living standards since the 1920s.

‘Many consumers are clinging to the edge of a financial cliff with savings at rock bottom and personal debt levels sky high.

‘Shocking numbers of people say they are forced to take on new forms of debt just to make ends meet, and many more would not cope with unexpected shocks to their incomes or household bills.’

Those aged 18 to 29 have borne the brunt, suffering a fall in purchasing power of twice the national average of 0.9 per cent, according to the report.

Almost half in this age group run out of money every month.

They also have more debt than any other age group, owing 47p for every pound they earn, compared with the national average of 21p.

But those in the lowest bracket of income, £12,376 or lower, owe an average of 72p out of every pound they make.

More than half of the 2,000 people surveyed for the report said they mistrusted the Government and the banking system.

‘The consumer has too often been an afterthought in the Government’s growth agenda,’ added Mr Lloyd.

‘With this new report, we show just how well those with power, both in government and business, are doing at putting consumer wellbeing first.

‘Many are clinging to the edge of a financial cliff with savings at rock bottom and personal debt levels sky high. Shocking numbers say they are forced to take on new forms of debt to make ends meet.’