11 July 2008
Consumers are dipping into their savings to help cover the cost of rising bills, a new survey has revealed. Chelsea Building Society discovered that 15% of Britons have used their savings to meet the cost of utility bills and council tax. The survey by the building society also showed that 12% of respondents have used cash that was put to one side to cover accommodation costs. And 61 per cent on consumers have noticed a real difference in the cost of energy and petrol. Chelsea director of customer services Darren Stevens said: "We are concerned that many people's finances are in real trouble due to the growing pressure of rising costs across so many essential items." Around eight out of ten people questioned by the building society are expecting food and energy costs to continue increasing in the future. Earlier this week Christians Against Poverty noted an increase in the number of middle class families in the north-east seeking debt advice, the Northern Echo reports.
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