“The cost of a food shop feels extortionate! There’s no extra money coming in but the amount going out is increasing at an alarming rate.”
With winter fast-approaching – a time when budgets are stretched even further by increased energy usage –said the government and businesses must act quickly to support the most financially vulnerable as prices keep rising.For example, broadband companies should promote discounted tariffs to those who are eligible and energy companies must be ready to help customers when the new price cap is announced and takes effect, including offering payment plans for those who need them.
It added four in every 100 adults missed multiple payments over the course of two years, saying young adults are more likely to have experienced financial difficulty throughout the pandemic, as the age group most affected by job instability.