The news seems to be all doom and economic gloom, lately, with further bad news for consumers, as British Gas said it would be increasing its electricity tariffs by more than 12 per cent in September.
Household costs increase
We’ve covered fairly extensively how households are under a lot of pressure lately, with a low pound pushing the cost of imports up, companies shrinking the size of their products but holding the price steady, and their average wages not going as far due to inflation. But this news of power increases just adds to the average household’s issues.
It’s not just power prices…
A new report was also released stating that house prices were remaining high due to a shortage of new homes. There haven’t been this few houses on sale in the last 40 years, and this shortage has continued to push prices up by an average of two per cent.
People are struggling to get by
House prices are at record highs and set to stay there, household items are more expensive, wages are below inflation rates, and savings are losing their value due to low interest rates. Consumers have been turning to unsecured loans, credit cards and overdrafts to try make ends meet, but that isn’t sustainable.
Finding a new way
It’s more important than ever before to find a new way to pay the bills and keep ahead of the financial issues. Trading Forex can provide you with a second income that is tax-free, can be completed in as little as 30 minutes a day, and can be done at any time during the working week.
Learn to Trade
We’re the UK’s No.1 Forex Educator, having had more than 250,000 people learn how to trade on the Forex market since 2003. If you’d like to find out how to become financially free, come along to one of our free Forex workshops now.