The true picture of British household finances

The true picture of British household finances

on July 31 | in All, Personal Finance | by | with No Comments

This article was sponsored by MYJAR.

There is plenty of talk about the state of the economic recovery in the UK. Apparently the country is performing better than many others in finally pulling out of the problems caused by the international banking crisis.

This is changing the face of British household spending, something clearly shown in a brand new infographic released by MYJAR who are a responsible short-term lender.

Loans for bills

The standout statistic is that one million Brits turn to payday loans to cover their basic household bills, with an average amount of £153 coming from this source.

With 60% of people worried about the overall cost of living and 55% having a lack of savings, monthly shortfalls are increasingly being managed by people using responsible lending as an ideal solution.

MYJAR only lends money to people who have a proven predictable and regular source of income, will never encourage anyone to borrow more than they can afford to repay.

There are also no hidden charges and no nasty surprises with any hidden fees or extras to pay back when repayments are made on schedule.

This means that people who need a little financial help can access it simply and easily as part of a sensible and planned approach to managing their own budgets.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

 

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