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Britons feel worse off in 2013 21 April 2013

Almost half of UK households consider themselves worse off than last year, a poll reveals.

In a further blow to George Osborne’s assessment of the UK economy, 49% of Britons say that they are financially worse off compared to 2012, with 46% of households admitting to having run out money before the end of the month over the last year.

The poll was conducted among 2,016 people between 15 and 18 March 2013 by reserachers for Halifax.

Anthony Warrington, personal current account director at Halifax, said: “Households that find themselves running out of money before the end of the month or even those who feel worse off financially cannot afford to ignore this.”

Almost one in 10 households say that they run of money every month, although three in four (74%) feel that they are coping well with financial constraints.

Those most likely to be feeling the pinch are in their 40s and 50s, where 54% and 60% respectively say they are now worse off.

Those in their 40s are less likely to say their households are coping well (68%), compared to 72% of those in their 20s and 74% of those in their 30s.

Savings are a priority for most households, with 65% saying they use any remaining monthly money to fund savings.

More than two thirds of respondents in their 20s say they save any money left at the end of the month (68%), the most likely group to do so outside of households in their 60s (75%) and 70s (74%).

“People will always have different priorities at different ages, but it is never a bad idea to put some money to one side whenever you have the chance” said Warrington.



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