Families forced into debt for school essentials
Research from the Children’s Commission on Poverty shows a worrying increase in the amount of families that are struggling with the hidden costs of sending children to school. David Mann, Head of Money at Uswitch.com says: “Sky-high school costs are dealing yet another blow to already squeezed household budgets.
“Families are being punished across the board with rising household bills against stagnant wages forcing many into unwanted debt. Our research shows that over one in four families are borrowing money just to pay for household bills. This is not surprising when energy costs alone have risen to an eye watering £1,265 a year – that’s £793 higher than in 2004.”
“This reality is a far cry from the growing optimism that the UK economy is on the up. It will be interesting to see how the Chancellor helps these vulnerable consumers in next month’s Autumn Statement. In the meantime, while times are tough, it’s vital to make sure you are on the best possible deal for essential household bills, to help ease the financial pain.”
FOR MORE INFORMATION
Ailene Barr
Phone: 020 3872 5610
Email: ailene.barr@uswitch.com
Twitter: @uswitchPR
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