Many consumers in the UK have had a very difficult financial year over the past twelve months for a number of reasons. Whilst interest rates have now dropped to 3% after some drastic cuts by the Bank of England many have spent the past year trying to cope with high repayments, which has left them struggling to make ends meet. In addition to this inflation levels have soared to record highs, which has also affected consumer finances. The cost of food has rocketed, petrol prices have soared, and energy bills have gone through the roof, which means that all in all it has been a very bleak year for most people financially. (more…)
