Living costs creating 'financial concerns'

The number of people struggling to make ends meet is apparently on the rise, which may lead to an increase in the amount of tenant eviction notices being issued.

Nearly a quarter (22 per cent) of people are already at their affordability tipping point when it comes to meeting day-to-day costs, moneysupermarket.com revealed.

Furthermore, 30 per cent identified that their finances are stretched so far that an increase in living costs of less than £100 would make it impossible for them to live comfortably.

"The rising price of petrol and everyday basics such as food and energy have hit consumers hard, and at times it can feel like it is impossible to make any more savings when essentials are rising so steeply," noted Clare Francis, personal finance expert at the price comparison site.

She suggested that people need to start taking small steps to improve their finances and avoid facing further problems.

If you're a landlord who is facing an increasing pile of rent arrears, Lawpack's Tenant Eviction Kit provides you with the eviction court forms you need, plus expert advice on how to use them.

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Published on: May 11, 2011

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