The current credit crunch is impacting on the younger family members
The speed of inflation on things bought by children has grown by 68% within the last 3 years, with many youngsters now not able to pay for treats and also trips.
Some of the most popular items for children to buy are sweets and also chocolate, that have grown in price by 24%. Children’s clothing has also gone up by 17.4%.
A lot of families are struggling with money worries and debt so that they can no longer afford to give their children pocket money. Together with the living costs growing and also no real rise incomes, a few families are finding that their own wages just simply don’t go as far as they used to.
This means that some families are struggling with debt issues as they are using short term loans as a way of surviving every month. This means that you can wind up in a cycle of debt should you give it time to build up, so if you are worried about just how much your debt is, you should get help sooner rather than later.
From an IVA to a debt management plan to insolvency, there are options available to suit everybody therefore don’t suffer in silence – get assistance with your financial issues today.