Press release:

uSwitch comments on latest ONS household savings ratio data

Commenting on the ONS household savings data published today, Tashema Jackson, money expert at uSwitch.com, says: “It is no surprise that savings fell to a record low in 2017 given the relentless increase in household bills.”

“The estimates showing that households were borrowing more than they saved for the first time is inevitable, as our own research found that one in ten consumers say they have no money left at the end of the month after paying all their bills. With essential bills costing families £1,408 a month – rising by 2.9% in a year – consumers are saving less and getting further into debt as they try to manage budgets.”

“It’s important for those who feel they are struggling to not ignore their monthly credit card statements – charities such as StepChange are there to help.”

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About us

Launched in September 2000, uSwitch is an online and telephone price comparison and switching service, helping consumers get a better deal on gas, electricity, broadband, TV services, mobiles and personal finance products including mortgages, credit cards, car and home insurance. Last year we saved UK consumers over £278 million on their energy bills alone.

Customers can sign up to an account that automatically monitors the energy market and notifies them when they can move to a cheaper tariff, while broadband customers can conduct a speed test to find out how fast their broadband is and identify the best deal for their postcode.

The multi award-winning 'Switching Made Simple' app allows customers to compare energy, broadband, credit card, mobile and SIM-only deals – and uSwitch also has a UK contact centre manned by energy and broadband experts. Customers can post their latest energy bills to FREEPOST USWITCH to receive a free call back and be guided through the comparison process, or they can email customerservices@uswitch.com with their postcode and usage details.

uSwitch is owned by ZPG, which operates some of the UK’s most trusted digital brands that help empower smarter property and household decisions including Zoopla, Money, PrimeLocation and SmartNewHomes.

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